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Santander: 123 Current Account (discontinued) reviews

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4.16

Based on 1,264 reviews, last reviewed 24th Jan 2026

150% 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:

4

Helpful staff Staff are always helpful but not enough tellers in the one remaining branch in our town, online banking is good Reviewed on: 24th January 2026

Latest lowest rating:

1

Santander the worst experience we ever had I needed scaffolding to paint the exterior of our house. Scaffolders were recommended to us and came round and quoted £2000 with £1000 to be paid upfr... Read more Reviewed on: 23rd 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 (1264)

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

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

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