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Santander: 123 Current Account (discontinued) reviews

Name: 123 Current Account (discontinued)
Rating: 4.16 (1265 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)

New customers BEWARE!

This was a farce from beginning to end - all we wanted was a joint account but the girl who "interviewed" us simply did not grasp why we wanted the account. She steadfastly misunderstood and gave no indication she knew what she was talking about. The UPSHOT here is we went with Natwest. New customers beware - Santander want you to have the account THEY want you to have, The whole experience for a new customer was terrible to say the least - I'm never going to set foot in, or have anything to do with them ever again! NEW CUSTOMERS BEWARE! Reviewed on: 24th November 2016

New Customer Beware

This was a farce from beginning to end - all we wanted was a joint account but the girl who "interviewed" us simply did not grasp why we wanted the account. She steadfastly misunderstood and gave no indication she knew what she was talking about. The UPSHOT here is we went with Natwest. New customers beware - Santander want you to have the account THEY want you to have, The whole experience for a new customer was terrible to say the least - I'm never going to set foot in, or ahve anything to do with you ever again! NEW CUSTOMERS BEWARE! Reviewed on: 24th November 2016

Better than a savings account

In the light of current economic circumstances, Santander Bank has recently been forced to reduce the amount of interest paid on its 1-2-3 Current Accounts. However, having been a customer of Santander for many years, and having used their 1-2-3 Current Accounts for around 3 years, I still believe that the product is the best on the market for both savers and spenders. Obviously the account will not suit everybody and only personal spending and savings habits will determine if it is to one's benefit to hold this account but if the account is maintained in credit and sufficient "cash-back eligible" direct debits are charged to it then the accumulation of interest plus cash-back credits will be more than enough to offset the modest £5 per month charge. Go for it....the rate of 1.5% interest on credit balances is still better than most other dedicated savings accounts and the 1-2-3 account is far more flexible than its interest-paying rivals. Reviewed on: 24th November 2016

Very disappointed!

After Santander's recommendation I changed my current account and my ISA with the 123 current account in order to get 3% interest on my balance. Now four months after that Santander changed the 3% interest on the 123 current account to 1.50%. How disappointing! Reviewed on: 23rd November 2016

Good service but now poor value

This account was really good value until recently, and the service has been excellent in all the time i have used it (about 3 years). But now they have cut the interest and hiked the fee, I'm pretty certain I will switch to another account- it seems a bit much to hit you on the interest and fees both at the same time. Reviewed on: 22nd November 2016

Dependable

Never had any issues, been with them almost 20 years. Great! Reviewed on: 21st November 2016

Nearly lost me a home

First they increased the monthly fee from £2 to £5...then they cut the interest rate from 3% to 1.5%...well ok that's market forces at work, I guess I understand...but what really got my goat? When we moved house earlier this year, I needed to transfer a lump sum for a rental deposit...Santander blocked it because it "didn't fit my regular spending pattern". Well of course not, moving house is not a regular occurrence! There was easily enough money in the account to cover it, but despite having received certified proof that I'm a grown up when I opened the account Santander seem to think they have the right to stop me spending my own money! When I asked what I could have done to prevent this, they said "nothing, as it's automated" - how comforting! I got £30 compensation, but that's nowhere near enough for the stress of nearly losing the home we wanted (&needed) and the embarrassment of the letting agents and landlord treating me like a wanted criminal. Am looking to switch in the very near future. Reviewed on: 21st November 2016

First they dropped the rate, then they nearly lost me a home

Good interest on current account ( although recently lowered )

Easy to Navigate and Good interest / cashback Reviewed on: 21st November 2016

Avoid the Santander 123 current account because of the interest rate cut and also the poor customer service.

This account used to give a good interest rate provided a large balance was maintained, £3000 to £20,000, but then Santander introduced a £5 monthly charge which made the account less worth while. Now the interest rate has been halved to 1.5%, which equates to 1.25% taking into account the £5 charge if a high balance of £20,000 is maintained, and far less if the balance is lower. Therefore this account should be avoided, particularly as the Santander customer service is poor. Reviewed on: 17th November 2016

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