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Santander: 123 Current Account (discontinued) reviews

Name: 123 Current Account (discontinued)
Rating: 4.15 (1265 reviews)

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4.15

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

600% 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.

Santander 123 Current Account (discontinued) reviews (1265)

Review of the Santander, 123 Current Account (discontinued):

Good money maker

I switched to Santander bank after having a bad experience with Lloyds a year ago. The nice lady in Santander introduced me to 123 current account and worked out for me ,taking into account my salary, savings, spending, whether this account is suitable for me. She want pushy or manipulative and left the decision to me. When I switched the bank moved all my bills and standing orders to my new accound and the money that had been sitting in my saving account making almost no profit. Over the last year I made around 200 pounds by having the money in my 123 Current account instead of keeping it in my old Saving account. Even with the fee increase from 2 to 5 pounds its still worth staying with them if you have over 10000 pounds in savings. Reviewed on: 24th December 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

excellent for a £2 fee

Decided to change to Santander from NatWest - used there switching service which was effortless and no hassle to me. My husband wages go in and my direct debits are set up so I know I receive my cashback and after taking fee up I make £8 a month near enough which is brilliant for doing nothing Reviewed on: 9th August 2015

Brilliant

Took me years to move to Santander 123 Current Account simply because I did not feel it was ethical to charge for a current account. How wrong was I not to move my current account earlier. Been with Santander 123 Current Account now for 8 months-simply fantastic to be able to earn money simply by paying your bills;which more than offset the £2 monthly fee. You also get a great rate of interest on up to £20000 at 3%. Reviewed on: 9th August 2015

Special account

Can't rave enough about this account! Helpful service and great that I get cashback on some bills too! I used to use Lloyds so the switchover to Santander was really painless and took just 7 days. I would urge anyone thinking of switching accounts to look at this account. Reviewed on: 3rd August 2015

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