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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)

Still the best all-rounder

I have operated a Santander 123 Current Account for a number of years and although the interest rate was recently cut to 1.5% per month, I still believe that this is the best current account on the market. Cashback of up to 3% is paid on various household bills so long as they are paid by direct debit to the account and a charge of £5 per month is made for the running of the account. This charge will in most cases be covered by the cashback and with a balance of £20,000 the interest will amount to £300 per annum. The only requirement is that a minimum of £500 per month must be paid in from any source other than another Santander account and as it is possible for a couple to hold three of these accounts (1 Joint and 1 single account in each name) then a significant amount of income (in present day interest terms) can be generated. Online access is easy and secure and almost totally obviates the need to visit a high street branch other than for paying inphysical cash or cheques. I wholeheartedly recommend the Santander 123 Current Account Reviewed on: 9th February 2017

Decent but hefty charges are possible

Over all I think the account is fine but I think that Santander's card charges are extreme. I studied abroad for 10 months and was terrified to use my Santander account for fear of a massive charge backed on the end of every transaction and bank withdrawal. That being said I really like their mobile app, it makes banking on the go extremely easy. Reviewed on: 9th February 2017

Excellent Experience

Santander staff have always been trustworthy, polite, friendly, and helpful. As a student who commutes to university each day their offer of a 4-year UK railcard with a student account has been invaluable, and I have recommended it to many of my friends. Reviewed on: 8th February 2017

began promising, but they keep taking away

signed up to 123 current account because it offered so much for only £2-£3 pcm. they soon upped it to £5 pcm and reduced what benefits that you get. so for more money, i get less discount Reviewed on: 7th February 2017

Rip off

Santander suck you in with a great offer at a reasonable Price then within 6 months put the price up reduce the offer and expect you to be grateful disgusting Reviewed on: 7th February 2017

The only valuable bank account

Even with the recent introduction of a £5 fee this account still offers a reasonable return on savings Reviewed on: 7th February 2017

Was great, now the account fee has gone up though it is not so beneficial.

The Santander 123 account was great to begin with and we got quite a bit of cash back each month. The monthly fee has now gone up though which is quite disappointing. Reviewed on: 6th February 2017

Get paid by your bank

Great banking experience, excellent customer service and earning money. Reviewed on: 6th February 2017

It was great til they changed the 123 Account incentives

I realize good deals can't go on for ever, but the changes to the cashback/rewards on this account have been massive and offputting. Reviewed on: 6th February 2017

Great!

Never had any problems with it! The advisers are always happy to help! Reviewed on: 6th February 2017

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