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Santander: 123 Current Account (discontinued) reviews

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4.16

Based on 1,247 reviews, last reviewed 18th Apr 2025

1100% 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

123 current account was reliable with good cashback I had a 123 current account with santander, and liked the cashback. The app is fairly easy to navigate but it can be tricky sometimes to access the bu... Read more Reviewed on: 18th April 2025

Latest lowest rating:

1

Goodbye Santander Unable to withdraw my cash when needed. A real lack of proactive help from this bank to keep our business. All accounts now closed. Reviewed on: 4th April 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 (1247)

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

The best interest paying account on the market.

I have held this account for a couple of years without any problems.I receive regular interest on my in credit balance of 3% per annum on balances up to 20k.I have found the customer service from Santander to be very helpful when needed. Despite the £2 fee,this is by far the best bank account for those with regular savings with only a low monthly income of £500 per month into the account and two direct debits to qualify for interest to be payable. Reviewed on: 25th August 2015

Well worth £2 per month - as long as you stick to the rules!

We have a 123 account with Santander and it's definitely worth it. By moving all of our utility bills to this account the cash back we earn covers the monthly fee and rewards us with a bit extra too. Reviewed on: 25th August 2015

Excellent value and easy to set up.

Changed to this account from another bank due to the excellent 3% interest as well as the cash back offered on bills. It was easy to swap to, and have had no problems with the customer service. Reviewed on: 25th August 2015

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

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