Santander | 123 Current Account

735 reviews

Monthly fee: £5.00

AER: 1.5%

Representative example: Representative Example*: 0% EAR (variable) Arranged Overdraft. Arranged Overdraft Usage Fee of £1 per day. If you are switching to Santander then there will be no Arranged Overdraft Usage Fee for the first 4 months. Assumed Arranged Overdraft credit limit: £1,200. Actual amount may differ.

Santander | 123 Current Account customer reviews.

735 reviews

3.6 out of 5 stars

Santander, so unprofessional!
10:48 10-10-2018
ImageSmart Money People

Santander are unprofessional and just dont care. They make mistakes with regularity but dont have the infrastructure to deal with it. Their customer service is non existent and they are impossible to contact or deal with. There is no common sense in their business model, they have no understanding of their customers needs and refuse to change anything to meet them. Customer service is unsurprisingly always busy with huge they do this on purpose? They say they are open from 7am -9pm but this is not true. Their fraud service is only open during business hours, as is their complaints service...the same hours that anyone who is working is also busy and unable to use them!! The wait times during working hours are horrendous and when you do get an answer you will probably have to talk to other departments and face a wait again...on purpose?? My advice would be to choose another bank as dealing with Santander will drive you crazy. They are only a bank and others outperform them in every way. They just dont care!


08:34 04-09-2018
ImageSmart Money People

NO LOYALTY WHATSOEVER - GREEDY MONEY GRABBING. Absolutely the worst bank to deal with. Having banked with Santander (in various guises) for OVER 30 YEARS, we have been treated like children when applying for a new mortgage and told we 'can't be trusted' !!! (Three other major high street lenders have approved us and by the way our Experian credit score falls into the 'Excellent' category). For the sake of TWO months Santander are going to charge us over £6,000 in early repayment fees for a position we feel they forced us into and there is no flexibility whatsoever. Staff are patronising and rude and don't want to do anything to help with or assess a situation on its own merits. No 'human' element to their thinking or decision process just a 'computer says' attitude. Not only will we be moving our mortgage we will also be moving our bank and savings accounts and will have nothing more to do with this awful Bank. Loyalty breeds loyalty .. I'm afraid Santander have NONE. Still I'm sure there'll be some nice fat bonuses and happy shareholders which is all that is at the (black) heart of this Bank.


Cashback and intrest
09:19 27-08-2018
ImageSmart Money People

I get cash back for my monthly bills and interest on my balance along side other 123 benefits. Whats not to love.

Becky Lawrence

Very pleasent
20:48 21-08-2018
ImageSmart Money People

The plan was easy to set up and the staff were ever so polite, and remain to be everytime i pop in


still the best bang for your buck for interest
21:03 27-07-2018
ImageSmart Money People

Even though this 123 current account has reduced the interest rate your still getting £25 odd quid a month, better than any other current account out there and you can even have one sole and one joint account. Highly recommended!!!


23:39 30-06-2018
ImageSmart Money People

Pay your bills from your account, and have credit in the account, and you'll more than make up for the account fee with interest and cashback. Great bonus for having the account.

Jamie Millard

Not the best, not the worst!!!
10:21 23-06-2018
ImageSmart Money People

Overall I don't have huge problems with this bank/account, but there are a serious lack of branches that I can actually walk into these days. However the online banking element is a strong one, and a major positive for me with this particular account.


So many benefits
19:54 09-06-2018
ImageSmart Money People

Me and my husband have 3 123 accounts between us and take full advantage of the cash back and savings available. The only downside is the interest rate has reduced to half.

Helen Rosbotham

08:35 09-06-2018
ImageSmart Money People

Great service by the staff and a great product too

Greig Spencer

Not happy with the complaint service
17:28 31-05-2018
ImageSmart Money People

It was cashbook issue .According to Santender I have selected credit card for accepting cash back money which I was anware and now I changed to my curent account.But they won't pay me back the cash back which went on credit card as I have not used the credit card.As it's not santdender error they said I lost that money.. One bank I phoned to report theft of my a sorry they gave me £20.0 with no happy as I lost some cash aswell. See the difference between service with other bank and santender. Here they didn't give me what I earned through shopping saying it's not santender error and the other bank paid me because they valued customer.


Our review of Santander | 123 Current Account

Santander 123 Current Account Customers can benefit from being able to earn cashback on selected household bills, including your mobile phone. To be eligible to earn this you’ll need to set up at least two Direct Debit payments from your Santander 123 Current Account – the amount you can earn varies between the different types of bill, but it can be between 1% and 3% which all adds up in the long run. There are also fair rates of interest to be earned on your balance, as long as it’s over £1,000, again these rates depend on how much money is in your account but all interest earned is paid monthly.

Customers of the Santander 123 Current Account also have access to the 123 World Offers which enables them to get better rates on other Santander products such as ISAs, personal loans and fixed term bonds. You can also receive 30% off online travel insurance and receive 18 months free business banking if you decide to open a Start-Up Business Current Account.

Despite being such a big name in banking, Santander have received a rating of ‘bad’ from TrustPilot. Customers have expressed particularly negativity towards the difficulty of the application process, poor customer service and the cost of their overdraft charges. As with everything there is two sides to every story and many customers do have positive views of Santander.

Overall verdict: Using the Santander 123 Current Account as your main account for bills and your wages will allow you to benefit from earning cashback and interest. Despite the poor reviews, there are satisfied customers out there.

Written by: Alex


  • Earn monthly cashback on selected household bills
  • Earn monthly interest of 3% up to a balance of £20,000
  • Access to 1|2|3 World offers
  • Manage the account with online and mobile banking

Minimum criteria

  • You must be aged 18 or over
  • You need to be a UK resident


  • Maximum APR %
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

About Santander | 123 Current Account

The Santander 123 Current Account has a £5 monthly fee which is automatically debited from your account each month. For this fee customers are able to earn monthly cashback on selected household bills by paying in at least £500 to the account each month and setting up at least two monthly bills to be paid via Direct Debit from your Santander 123 Current Account. The rate of cashback differs between dependent on the type of bill, for example you can earn 1% on water and council tax bills, but 3% on your mobile and broadband bills.

Customers can also earn monthly interest on their Santander 123 Current Account balance. If it is £1,000 or above then the interest rate is 1% AER, for balances of £2,000 and above it will be 2% AER and balances between £3,000 and £20,000 can earn 3% AER each month. It takes up to seven days for Santander to switch from another bank or building society and they will move your Direct Debits, standing orders and salary. They will also close your old current account and ensure that any payments to and from the previous account are redirected to the 123 Current Account for 36 months.

When applying for the Santander 123 Current Account you’ll also be able to apply for an arranged overdraft. The exact amount agreed will depend on your financial circumstances and is decided by Santander. The fees range from £1 to £3 per day depending on your outstanding balance, and if you go over your limit then there is an unarranged overdraft usage fee of £6 per day.

Company information

Registration number: 02294747


2 Triton Square, Regent's Place, London NW1 3AN

FCA registration

Reference No: 106054

Trading names: Santander, Cahoot, Santander Corporate and Commercial Bank (SCCB), Santander Global Corporate Banking

Place of business: 2 Triton Square, Regent's Place, London NW1 3AN

Data protection registration

Registration No: Z8737433

Data controller: Santander UK PLC

Address: 2 Triton Square, Regent's Place, London NW1 3AN

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