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Santander: 123 Current Account reviews

Name: 123 Current Account
Rating: 4.19 (1227 reviews)

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4.15

Based on 1,227 reviews, last reviewed 17th Sep 2024

17% decrease 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

Great Bank One of the few banks that offer an account with a low minimum pay in each month, I have banked with them for over 40 years and never had a problem, th... Read more Reviewed on: 24th August 2024

Latest lowest rating:

1

Not a save bank! Lost a lot of money because of them! Some time ago, I had Open Bank block my account there because suspicious debits were being attempted. A week after the account was blocked, Open Bank ... Read more Reviewed on: 17th September 2024

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About this product

The Santander 1|2|3 Current Account is no longer available to new customers.

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Santander 123 Current Account reviews (1227)

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

great for cash back!

I opened a Santander 123 current account mainly for the great interest rate which was better than any other accounts on the market. I earn a healthy interest every month compared to previous accounts where it was almost nil. I also get cash back on all my usual purchases which gives me even more money. Highly recommend! Reviewed on: 15th August 2015

Top current account, beats other competitors for interest!

Top current account, with £20000 + saved you get around £40 a month after tax, no other current account will give you this much interest on your savings! You require to have 2 direct debits and pay in £500/month but this is fairly straightforward. You can also have one single and one joint account so with your partner you can gain more interest also. The online banking is easy to navigate and security level is high. Definitely recommend this account for anyone who wants to maximise interest! Reviewed on: 15th August 2015

Best rate of interest around

The Santander 123 account offers the best rate of interest around. If you have between £3000 and £20000 in it, you will get 3% interest on your money - better than any instant-access cash ISA, even taxing tax into account. You have to pay in a minimum of £500 a month, and there is a £2 per month charge; but this is easily offset by the cashback you get on direct debits for utilities, council tax etc. Thoroughly recommended! Reviewed on: 12th August 2015

Great idea, shame about the fee

I've had this account for around two years now. The interest rate on it is great, and you get cashback if you use it to pay for your household bills- i.e. Council Tax, energy, telecoms. For anyone with some cash savings the rate beats most savings accounts. I've been pleased with the level of service too. The only drawback is the £2 a month fee, but i've found that the benefits outweigh this. I'd be happy to keep this account for a long time. Reviewed on: 10th August 2015

Easy to switch, and free money for no effort - totally worth it!

My partner and I use a joint account to handle all our big bills. That's everything from phone lines, rent, water, council tax and all other utilities you can think of. We were with another bank, but we spotted the Santander 123 account and its great cashback offers. The account offers 3% back on all communications bills (that's Sky, phone, internet et cetera), and more cashback on bills like mortgage repayments, electricity and council tax. It seemed like a no brainer, the account would give us free money! What more could we want? We were already paying out these bills so it made sense. But, we were still with our other bank and the logistics of moving all those direct debits and standing orders over to the new account seemed like too much to bear. But with the new switching service in place, it was as easy as signing a form and posting it back to them. With that, all of the switching was handled between our old bank and Santander. We didn't have to do a thing. We had no hiccups in our bills, it was perfect! Since we've had the account we've earnt nearly £20 in cashback, just in three months, and all for bills we have had for yonks. I feel annoyed that I didn't do this sooner! Reviewed on: 10th August 2015

awful experience at Nationwide

I was once banking with Nationwide and i had been with them for such a long time an every time i went to the bank to withdraw and they would constantly question me, they would always me, oh why are you withdrawing your money and what are you spending it on ?? I am like its my money and i can withdraw what i want and what i spend it on is not your business, i find nationwide so rude and arrogant and what gives them the right to ask you such stuff. They are supposed to be there to serve you not nag at you. And that is why i hate them so much and that is why i left them and went to another bank. They are so annoying and the worse bank i have had apart from Santander. And they insinuated me once when i told them i was leaving the bank and would not return to them. They did not like that and i would never ever ever ever recommend nationwide to anyone unless you truly want someone to pry in to your finances. Reviewed on: 9th August 2015

great account

not really use the account until recently. easy to transfer money and receive statements every month. cash back is nice on bills Reviewed on: 9th August 2015

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