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Santander: 123 Current Account (discontinued) reviews

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
See only 5 star reviews
55%
See only 4 star reviews
27%
See only 3 star reviews
8%
See only 2 star reviews
4%
See only 1 star reviews
6%

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
Jennifer S's avatar
Jennifer S

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
Tina's avatar
Tina

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

4
Never had any issues, been with them almost 20 years. Great! Reviewed on: 21st November 2016

Nearly lost me a home

1
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

1
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

Good interest on current account ( although recently lowered )

5
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.

1
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

4
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

4
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

2
They have penalised their customers by cutting the rate and adding an admin fee each month! Reviewed on: 15th November 2016

Brilliant Customer Service

5
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

5
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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