Santander | 123 Current Account

777 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.

777 reviews

3.6 out of 5 stars

Does what it says on the tin
11:55 15-11-2018
ImageSmart Money People

Great account, cashback on selected purchases. What's not to love

Kath Cox

great current account
09:43 14-11-2018
ImageSmart Money People

simple online banking, friendly staff in branches and easy to use!


Never had any problems
21:20 12-11-2018
ImageSmart Money People

Been with Santander for around 10 years now and cant fault them

Paul Nichol

If it isn't broken don't fix it
17:54 11-11-2018
ImageSmart Money People

I have had this account for a long time now - yes there may well be slightly better deals or tempting offers but I am so happy with the service that I don't want to change

Tracey Belcher

16:42 11-11-2018
ImageSmart Money People

I find their current account average and their customer service poor

Simon Harris

Excellent customer service
10:52 10-11-2018
ImageSmart Money People

No matter what the query is, I have always found the staff at Santander to be incredibly helpful and patient.


123 account review
21:00 09-11-2018
ImageSmart Money People

I have found the 123 account to be really positive. The ability to make money each month has been very helpful with getting cashback on my household bills, plus 1.5% on the balance.


Good and flexible bank account
08:41 09-11-2018
ImageSmart Money People

Great bank account with a decent overdraft. Still has a branch nearby unlike most banks


Good rewards, but not as high interest as in the past
23:47 08-11-2018
ImageSmart Money People

Good rewards and improved banking app, but not as high interest as in the past.


Great everyday account
20:27 08-11-2018
ImageSmart Money People

Good for cashback on household bills and pays decent interest if you have a healthy balance. Overall, I think I've been better off keeping this account than getting new customer bonuses moving around to loads of different banks.

Sarah Webb

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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