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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)

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

simple, easy, friendly

I always speak to really friendly people Reviewed on: 14th November 2016

Disappointing!

So disappointed with the changes to the 123 current account! After Santander's recommendation this Summer, I changed my Santander Current Account and my ISA for the 123 Current Account so I could get the 3% interest on my balance. Santander is now reducing the 3% interest to 1.50%. If something works for customers why change it! Reviewed on: 30th October 2016

They used the 3% to gain more business, even when they knew they were dropping the rate

Santander used their 3% to gain a lot of business, they knew they would slash the rate in half, and they certainly duped us into banking with them based on the 3%. This was close to them announcing they were slashing their rate to 1.5%, yet they told us there were no plans to change the rate. If we knew how dishonest they are, we would have gone elsewhere. SHARKS! Reviewed on: 25th October 2016

Easy to use account

Really good bank including their customer service if my card is lost or stolen a new one is sent within three working days would defiantly recommend this to my friends Reviewed on: 27th September 2016

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