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Santander: 123 Current Account (discontinued) reviews

Name: Santander 123 Current Account (discontinued)
Brand: Santander
Rating: 2.54 (196 reviews)

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4.17

Based on 1,250 reviews, last reviewed 15th Jul 2025

92% decrease 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

Current Account. Current Account. I have a 123 current account with Santander. It was very easy and quick to open i did it through the app/website. I could easily mana... Read more Reviewed on: 15th July 2025

Latest lowest rating:

2

Is that a bank for the elderly ? Strong impression that the bank have little time for customers . I approached my local branch 4 times since May 2025 for certificates of interest whic... Read more Reviewed on: 23rd June 2025

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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 (1250)

Dependable

Never had any issues, been with them almost 20 years. Great! Reviewed on: 21st November 2016

Nearly lost me a home

First they increased the monthly fee from £2 to £5...then they cut the interest rate from 3% to 1.5%...well ok that's market forces at work, I guess I understand...but what really got my goat? When we moved house earlier this year, I needed to transfer a lump sum for a rental deposit...Santander blocked it because it "didn't fit my regular spending pattern". Well of course not, moving house is not a regular occurrence! There was easily enough money in the account to cover it, but despite having received certified proof that I'm a grown up when I opened the account Santander seem to think they have the right to stop me spending my own money! When I asked what I could have done to prevent this, they said "nothing, as it's automated" - how comforting! I got £30 compensation, but that's nowhere near enough for the stress of nearly losing the home we wanted (&needed) and the embarrassment of the letting agents and landlord treating me like a wanted criminal. Am looking to switch in the very near future. Reviewed on: 21st November 2016

First they dropped the rate, then they nearly lost me a home

Good interest on current account ( although recently lowered )

Easy to Navigate and Good interest / cashback Reviewed on: 21st November 2016

Avoid the Santander 123 current account because of the interest rate cut and also the poor customer service.

This account used to give a good interest rate provided a large balance was maintained, £3000 to £20,000, but then Santander introduced a £5 monthly charge which made the account less worth while. Now the interest rate has been halved to 1.5%, which equates to 1.25% taking into account the £5 charge if a high balance of £20,000 is maintained, and far less if the balance is lower. Therefore this account should be avoided, particularly as the Santander customer service is poor. Reviewed on: 17th November 2016

Was great, now less so with interest rate cuts

I switched from NatWest, which all went very smoothly. I don't really have any complaints, but I haven't had to deal with customer services so I can't comment on that aspect. The recent interest rate cut is very disappointing, but I guess inevitable. Reviewed on: 16th November 2016

Love the student 123 accounts

I am on the 123 student account. I think it's everything I wanted. There is a high over draft limit which is very useful, and also you get the best deals (4 year rail card worth over £100) when you change onto the santander accounts. If i would want to change anything, a higher interest rate would be desirable. Reviewed on: 16th November 2016

Not a great product

They have penalised their customers by cutting the rate and adding an admin fee each month! Reviewed on: 15th November 2016

Brilliant Customer Service

When my bank account was hacked and emptied, it was dealt with quickly and efficiently and all my money was returned within 24 hours. Reviewed on: 15th November 2016

Great way to get a little extra money into your bank account each month

Money in your current account and you get interest, paying by direct debit for your bills and you get a percentage back, so each month you have a little money also going into your back account, rather than always going out, can't be bad. Reviewed on: 14th November 2016

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