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Santander: 123 Current Account (discontinued) reviews

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4.17

Based on 1,252 reviews, last reviewed 5th Sep 2025

200% increase 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 Good app. Easy to set up and use with minimal fuss. Everything seems straightforward Reviewed on: 5th September 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 (1252)

Great Bank Account

I am really happy with our 123 account, we changed out account to the 123 when it first came out. The interest rate is great at 3% if you have over £3000 in the account (Interest paid up to £20k). We have all the house bills coming out this account so we get a good amount of money paid back every month, it easily covers the £2 per month fee. I have already recommended this account to other family members who are also really happy with it. Reviewed on: 27th August 2015

Great banking

friendly helpful staff. Online banking easy to use and very secure. Also pays a good rate of interest Reviewed on: 27th August 2015

Great banking experience

I was already a Santander customer, and finally made the plunge to move to their 123 account last year. Now I wished I had done this earlier. There is a monthly fee of £2 but in return I am getting cash back on my direct debit payment for council tax, water rates, electric, gas, mobile phone, broadband and phone services varying from 1% to 3% on top of that there is up to 3% interest on balances. up to £20,000. Must be the best account around as earning money to use the direct debits, I would certainly recommend this account, Reviewed on: 27th August 2015

A godsend for savers.

If you are a struggling saver looking for accounts that pay little or next to no interest at all,the Santander 123 is a great market leader that pays 3% on a significant amount of 20k.Compared to the majority of accounts on the market this account is unbeatable with cashback on bills and mortgage payments as well,the only negative being a £2 monthly fee but with all the interest this is insignificant. Reviewed on: 26th August 2015

Excellent

With the current low interest rates I was tempted by this because they pay3%. So glad I decided to open this account. Easy to use and the interest rate is good on a large balance. I even get cashback on utility bills if paid by DD Reviewed on: 26th August 2015

good interest rate

With savings rates being so low this account which pays 3% up to £20000 is great to use as a savings account. You can also get cashback by paying certain regular bills by direct debit Reviewed on: 26th August 2015

Santander provides a safe home for our savings in a Santander 123 Current Account.

With savings accounts interest rates so low we took the plunge and opened a Santander 123 Current Account. Opening the account online was straightforward, and the only effort on our part was meeting the minimum monthly payment requirement and the required minimum of 2 Direct Debits - the DDs were chosen by us to raise enough in cashback to meet the monthly £2 account fee. Now all we have to do is sit back and watch the interest payments come in! Reviewed on: 26th August 2015

Paid to bank - just the way I like it.

When we remortgaged we decided to switch bank accounts to the Santander 123 account. We thought that we may get paid a small amount from Santander that would either help with treats or go towards our mortgage interest. The switch was straight forward with Santander doing all of the work. Our direct debits and payments were switched with no issues. Since then Santander have been paying us each month for our direct debits and mortgage payments going through the bank. These things would have had to been paid whether it was a 123 account or not. So the fact we get paid is a massive bonus for us. We have recently been on holiday and due to the current exchange rates didn't want to take cash with us. We used the cash points abroad. Having done some research we realised that we wouldn't be charged for using Santander ATM's in Spain and were able to get a slightly better rate while we were there. It was so easy to do. The cash point even asked us what language we wanted to use. All in all the account does what it is meant to do , no issues or problems, plus we get paid cash each month. Reviewed on: 26th August 2015

Best current account!

Quite possibly the best current account on the market currently. 3% interest on balances up to £20,000 beats most providers savings accounts. Cashback also on your bills. Reviewed on: 26th August 2015

Money for doing nothing

I signed up to Santander 123 a few months ago after my student account switched to a normal one. The cashback is fantastic and always paid very promptly at the end of the month, as is the in credit interest - it's also a big motivation for me to build my savings as the interest is paid monthly, rather than the usual annual rate. Definitely the best current account on the market for rewards! Reviewed on: 26th August 2015

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