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Santander: 123 Current Account (discontinued) reviews

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4.16

Based on 1,265 reviews, last reviewed 26th Jan 2026

200% increase in 5 star reviews

in the past 90 days

200% increase in 1 star reviews

in the past 90 days

55%

27%

Latest highest rating:

5

Good interest rate for credit balances and is accept... Good interest rate for credit balances and is accepted abroad Reviewed on: 26th January 2026

Latest lowest rating:

2

Loved the 123 account why did it go? Had a 123 account loved it, then Santander changed it to basic, whilst trying to get me to upgrade to a edge account which would cost me money most mo... Read more Reviewed on: 25th January 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 (1265)

Great interest rate.

This is a great account, the best aspects being that you get 3% interest on a balance between £3000 - £20000 (you can open a second joint account if you have £20000+) and you get cash back on your bills. There is a £2/month account fee, but I think almost everybody will earn this back with cashback or interest. If I had to make a criticism, it would be that the website is not very intuitive, and it would be great if you could see your pending transactions on the internet banking before they've left the account. Reviewed on: 31st August 2015

good secure account

Good account with a great rate of interest. Santander are very security conscious which can sometimes be a bit annoying but good to know they are on the ball Reviewed on: 30th August 2015

A great account in a bad market

Paying 3% interest to account holders means this account is unbeatable as many other providers limit higher interest rates to just the first few thousand.With Santander this is a whooping 20k so beats the top ISA rates for most people even after tax.I hope Santander raise this level as interest rates increase and this account remains at the top of the market.Interest rates aside,the customer service is great and i have received help through the online banking messaging system rather than the need to phone or speak in branch,this is simply a great account. Reviewed on: 30th August 2015

Excellent, never had any problems

I've got their bank account and on our gas/electricity/council tax/water and comms we get about £7 cashback for our £2 payment. We have no mobile phone contracts so it could be higher still. We have quite a big house, 3 kids and have quite high gas/electric costs. I have just got the credit card to buy food on and should be better off but not much. No problems so far, online they have nice calculator to see how much you can save. Reviewed on: 30th August 2015

Very helpful

Great customer service and product. I get money back from things I would spend my. Only on anyway like bills. Reviewed on: 29th August 2015

Staying with Santander and reaping the benefits of this account is the best decision I made.

A few years ago I was ready to leave Santander and then they introduced the 123 account. For me this has been a great opportunity to get some interest and feel that the bank is actually doing something for me. With interest rates being so low on savings accounts, the 3% they offer for savings - 2.4% after tax - is well above what I would get anywhere else for my level of savings. This is paid on balances between £3,000 and £20,000. The interest on savings takes account of the 3, but what about 1 and 2? With 1, it is 1% cash back on water and council tax bills then the 2 is 2% cash back on other household Direct Debits - gas and electricity. 3% does come up again as this is for smaller bills such as phone contracts and broadband. There is a monthly fee of £2 but for most people this will be well covered by the money they are paid. You have to be able to pay £500 a month into the account and this cannot come from other Santander accounts. It may not be in the spirit of things, but it possible to transfer money in and out a few times a month. Since the account was set up there have been no problems at all. The fee comes out automatically and the payments come in. You also get a running total if you use online banking, so you know how much you made that month and how much since you joined. Reviewed on: 29th August 2015

best account ever

good interest rate on a high balance and also cashback on certain direct debits. Easy to manage in branch and online Reviewed on: 29th August 2015

Perfect to manage every aspect of it online which is exactly what I want.

I have been with Santander since they were Abbey National and that was simply because my Nan already was and she was the one with me when I opened my first bank account! Over the years, they've always had products to meet my needs and pro-actively suggested the 123 Account to me a few years back. Seamless switch from the current account I already had and I make a few pound on it every month so nothing to lose. I also love the fact that my 123 Account is linked up online to all my other accounts - savings, ISA, kids accounts. Would definitely recommend based on my experience. Reviewed on: 28th August 2015

great interest rate

Helpful staff and easy to use both in branch and online.They can be a bit too hot on suspected fraud if anything seems slightly out of the ordinary, but better safe than sorry Reviewed on: 28th August 2015

Great for bonus money!

Found out about the Santander 1-2-3 Account some time ago and signed up - not only does it have a great interest rate on money in the account but it will also pay you. Cashback is received on many Direct Debits that you set up - anything from Council Tax to your phone bill. These bills have to be paid so may as well make a little out of it. You need to pay in £500 per month to qualify and there is a £2 month bank charge but if you have a number of Direct Debits set up then the rewards more than cover the charge. Reviewed on: 28th August 2015

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