Alison Brittain, Santander's Executive Director of Retail Distribution in the UK, said: "It is a significant achievement to open 1 million new current accounts in a year in the UK - especially as Britons are sometimes hesitant when it comes to moving their primary banking relationship. We have only been able to do this by offering the most compelling products, a free switcher service and through the dedication of our staff in promoting the benefits of switching to our accounts.

"Over the course of the year we have consistently offered the best deals on the market, including a great interest rate of 6 per cent on in-credit balances, a £100 cash bonus for switching, and we have also launched a very comprehensive packaged account to strengthen our portfolio. It is great to see that that consumers are voting with their feet and moving to Santander brands.

"Going forward, we will continue to challenge our competitors in the current account market. We recently announced the introduction of the ground-breaking Zero Current account for Abbey Mortgage customers which offers no fees even if customers exceed their overdraft and no fees on using cash machines abroad."