Santander | 123 Current Account

703 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.

703 reviews

3.6 out of 5 stars

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.


Good and Easy to use
18:48 16-05-2018
ImageSmart Money People

Build up good rewards, and no problems with my account.


Santander Bank
21:58 03-05-2018
ImageSmart Money People

Easy to get in contact with a person for any questions or issues you might have. Quick and easy to set up payments and transfers either on their app or website and moneys always receive and sent within seconds. Recommend bank


tip top bank
17:11 16-04-2018
ImageSmart Money People

Always been a Santander member, I think they are a very fair company, good overdraft limits and customer service

rebecca meredith

Good product
14:11 14-04-2018
ImageSmart Money People

Good experience from the company

Simon Harris

Fantastic Provider
10:42 06-04-2018
ImageSmart Money People

Santander have the best current account rates and an amazing cashback system for normal household bills. My account receives a generous income boost each month and now also includes cashback from shopping at specific retailers. Their banking app is very user-friendly and straight forward to use, and the customer service/support is brilliant. 100% would recommend Santander to a friend.

Scott McCubbin

Excellent customer service
18:08 04-04-2018
ImageSmart Money People

been with santander about 6 years and have been really impressed with the customer service. Staff are always friendly and knowledgeable. They made a small mistake when first swapping to them which they put right as soon as we mentioned it and gave us a small amount of money to say sorry for the inconvenience. What more can you ask for. Very impressed.


Good all rounder
13:15 04-04-2018
ImageSmart Money People

The 123 account is good but not the best on the market. It is easy to set up, plenty of branches in towns to speak to someone in person. They are very honest about whether it is worth paying the fee to get the cash back. Online banking is good quality.


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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