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Santander: 123 Current Account (discontinued) reviews

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4.16

Based on 1,229 reviews, last reviewed 28th Nov 2024

80% decrease in 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

55%

27%

Latest highest rating:

5

Santander very good Brilliant service, call centres excellent Reviewed on: 28th November 2024

Latest lowest rating:

1

So hard to set up an account. So hard to set up an account. Couldn’t believe it. I had to wait in a physical bank twice for over an hour. And they kept sending me letters that were... Read more Reviewed on: 28th November 2024

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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 (1229)

A fruitful experience so far

I have had the Santander 123 account for nearly 2 years now. It is different from other current accounts in that it gets the best interest. After tax I get 2.4% interest on up to £20000. Other savings I have had to put elsewhere to get interest on the excess balance as their isa rate is useless. I also get cash back on direct debits on my phone contract, partners phone contract, electricity and gas, water, and council tax. This is a little extra each month that adds to the balance. You have to pay your salary into it, and have at least 2 direct debits for it to run. The branch is helpful, the online banking app is easy to use and it's just been a good bank to use. Reviewed on: 25th August 2015

Simple, easy to use with fantastic cash back offers.

I was getting frustrated with my current account because of the frequent computer failures and poor customer service. I couldn't use the 'switching' service because my mortgage must be paid out of my old bank. I had to start from scratch, but Santander couldn't have been more helpful transferring my direct debits and getting everything set up for me. The £2.00 monthly fee is very small compared to what you can earn from the cash back on household bills, even if you aren't paying your mortgage out of your account. The branches are well staffed and pleasant to bank in, and they don't try to fob you off onto the machines if you say you want to speak to a real person. A* Service. Reviewed on: 25th August 2015

Poor customer relations

I have held an account with Santander for many years, and have an overdraft from when I was a student. I have not had any information about when this overdraft needed to be reduced by or when I would be charged interest on it. So after a very challenging phone call trying to get through to an operator and not a machine, I was told that they did not actually know! It could be in a month or it could be next year. I asked if I could reduce the overdraft (the part which I had paid off) so I wasn't tempted to spend it, and was told no, I could only take the whole overdraft away at once. In the end, they came to the conclusion that I probably have my overdraft until next year, although they were not 100% sure. Reviewed on: 25th August 2015

As easy as it gets.

Recently changed to a Student Account from a simple 123 Current Account. Went in store to book an appointment to do this and I was able to be booked in later that day,lucky perhaps but still a great start! The lady I spoke to couldn't have more helpful and wasn't pushy,despite being part of the sales staff. They made it as easy as it can be to change accounts bearing in mind all the admin and terms and conditions changes. The high street experience may be dying out but face-to-face customer service makes the journey to the store worth the petrol cost. Reviewed on: 21st August 2015

Good value but still lacking

The 123 Current Account from Santander offers up to 3% interest on balances of up to £20K, along with cashback on certain bills and utilities. Whilst there are other current accounts on the market that offer a greater rate of interest, the maximum balance is distinctly lower. Customer service is variable - sometimes excellent, sometimes painstakingly poor. If you happen to fall in that inbetween ground where you've exceeded the max balance on other high interest current accounts, but still want the money you have working for you, it remains a decent choice. Reviewed on: 21st August 2015

great for cash back!

I opened a Santander 123 current account mainly for the great interest rate which was better than any other accounts on the market. I earn a healthy interest every month compared to previous accounts where it was almost nil. I also get cash back on all my usual purchases which gives me even more money. Highly recommend! Reviewed on: 15th August 2015

Top current account, beats other competitors for interest!

Top current account, with £20000 + saved you get around £40 a month after tax, no other current account will give you this much interest on your savings! You require to have 2 direct debits and pay in £500/month but this is fairly straightforward. You can also have one single and one joint account so with your partner you can gain more interest also. The online banking is easy to navigate and security level is high. Definitely recommend this account for anyone who wants to maximise interest! Reviewed on: 15th August 2015

Best rate of interest around

The Santander 123 account offers the best rate of interest around. If you have between £3000 and £20000 in it, you will get 3% interest on your money - better than any instant-access cash ISA, even taxing tax into account. You have to pay in a minimum of £500 a month, and there is a £2 per month charge; but this is easily offset by the cashback you get on direct debits for utilities, council tax etc. Thoroughly recommended! Reviewed on: 12th August 2015

Great idea, shame about the fee

I've had this account for around two years now. The interest rate on it is great, and you get cashback if you use it to pay for your household bills- i.e. Council Tax, energy, telecoms. For anyone with some cash savings the rate beats most savings accounts. I've been pleased with the level of service too. The only drawback is the £2 a month fee, but i've found that the benefits outweigh this. I'd be happy to keep this account for a long time. Reviewed on: 10th August 2015

Easy to switch, and free money for no effort - totally worth it!

My partner and I use a joint account to handle all our big bills. That's everything from phone lines, rent, water, council tax and all other utilities you can think of. We were with another bank, but we spotted the Santander 123 account and its great cashback offers. The account offers 3% back on all communications bills (that's Sky, phone, internet et cetera), and more cashback on bills like mortgage repayments, electricity and council tax. It seemed like a no brainer, the account would give us free money! What more could we want? We were already paying out these bills so it made sense. But, we were still with our other bank and the logistics of moving all those direct debits and standing orders over to the new account seemed like too much to bear. But with the new switching service in place, it was as easy as signing a form and posting it back to them. With that, all of the switching was handled between our old bank and Santander. We didn't have to do a thing. We had no hiccups in our bills, it was perfect! Since we've had the account we've earnt nearly £20 in cashback, just in three months, and all for bills we have had for yonks. I feel annoyed that I didn't do this sooner! Reviewed on: 10th August 2015

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