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Santander: 123 current account (discontinued) reviews

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4.12

Based on 1,276 reviews, last reviewed 18th Jun 2026

17% increase in 5 star reviews

in the past 90 days

100% decrease in 1 star reviews

in the past 90 days

55%

27%

Latest highest rating:

5

Everything Brilliant Interest on my account, cash back on utilities, only £500 a month needs to go in the account. There’s always somebody available on line, in branch or ... Read more Reviewed on: 18th June 2026

Latest lowest rating:

2

PROBLEM AFTER PROBLEM SO HAVE TRANSFERED TO NAYIONWI... PROBLEM AFTER PROBLEM SO HAVE TRANSFERED TO NAYIONWIDE AND NOW RECEIVE A MUCH MORE CUSTOMER FOCUSED BANK Reviewed on: 25th March 2026

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About this product

The Santander 1|2|3 Current Account is no longer available to new customers.

Review Santander: 123 current account (discontinued) now

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Santander 123 current account (discontinued) reviews (1276)

Efficient and Competitive

had good reason to change my bank who after 30+ years had demonstrated that they did not value my custom so approached Santander who welcomed me with open arms and have subsequently lived up to their promises. Even with the lower interest rates it's still the best option for us Reviewed on: 10th February 2017

Still the best all-rounder

I have operated a Santander 123 Current Account for a number of years and although the interest rate was recently cut to 1.5% per month, I still believe that this is the best current account on the market. Cashback of up to 3% is paid on various household bills so long as they are paid by direct debit to the account and a charge of £5 per month is made for the running of the account. This charge will in most cases be covered by the cashback and with a balance of £20,000 the interest will amount to £300 per annum. The only requirement is that a minimum of £500 per month must be paid in from any source other than another Santander account and as it is possible for a couple to hold three of these accounts (1 Joint and 1 single account in each name) then a significant amount of income (in present day interest terms) can be generated. Online access is easy and secure and almost totally obviates the need to visit a high street branch other than for paying inphysical cash or cheques. I wholeheartedly recommend the Santander 123 Current Account Reviewed on: 9th February 2017

Decent but hefty charges are possible

Over all I think the account is fine but I think that Santander's card charges are extreme. I studied abroad for 10 months and was terrified to use my Santander account for fear of a massive charge backed on the end of every transaction and bank withdrawal. That being said I really like their mobile app, it makes banking on the go extremely easy. Reviewed on: 9th February 2017

Excellent Experience

Santander staff have always been trustworthy, polite, friendly, and helpful. As a student who commutes to university each day their offer of a 4-year UK railcard with a student account has been invaluable, and I have recommended it to many of my friends. Reviewed on: 8th February 2017

began promising, but they keep taking away

signed up to 123 current account because it offered so much for only £2-£3 pcm. they soon upped it to £5 pcm and reduced what benefits that you get. so for more money, i get less discount Reviewed on: 7th February 2017

Rip off

Santander suck you in with a great offer at a reasonable Price then within 6 months put the price up reduce the offer and expect you to be grateful disgusting Reviewed on: 7th February 2017

The only valuable bank account

Even with the recent introduction of a £5 fee this account still offers a reasonable return on savings Reviewed on: 7th February 2017

Was great, now the account fee has gone up though it is not so beneficial.

The Santander 123 account was great to begin with and we got quite a bit of cash back each month. The monthly fee has now gone up though which is quite disappointing. Reviewed on: 6th February 2017

Get paid by your bank

Great banking experience, excellent customer service and earning money. Reviewed on: 6th February 2017

It was great til they changed the 123 Account incentives

I realize good deals can't go on for ever, but the changes to the cashback/rewards on this account have been massive and offputting. Reviewed on: 6th February 2017

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