Why we like it: Earn 0.60% AER (variable) interest on balances up to a maximum of £20,000. 123 Mini Current Account 0.01% N/A Eligible for Retailer Offers, customers must be over 16 and use online or mobile banking to qualify ... You can open a Santander account online or by visiting a branch. You may link up to three (3) Santander accounts as Overdraft Protection. Simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Ltd. We've been comparing savings and current accounts for many years so you can trust you're in good hands. By using our website you consent to all cookies in accordance with our Cookie Policy. 2 Triton Square, Regent's Place, London NW1 3AN, Trading names: Martin says you can make more cash elsewhere. your name only. in the terms and conditions you can only have one 123 current account in a single name ie. Up to 3% CASHBACK on various household bills. Cashback is paid directly in to your account. Fully registered bank and a member of the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000, Why we like it: UK & Europe Breakdown Cover, Worldwide family travel and mobile phone insurance, and commission-free cash withdrawals and card payments abroad. While tools such as budgeting software can be helpful to keep track of expenses, opening additional checking accounts more actively delineates your finances for specific purposes. I get my wage paid into the Halifax current account (they give you £5 a month for doing that - has to be £1000 or more) and then have most of it transferred out straight away into the Santander 123 account by standing order. You can make applications for the Santander 123 Lite account online, on the phone or in branch. Once you graduate, Santander will either close your account or transfer you to a 1|2|3 Graduate Account⁴. Due to COVID-19 many of our lenders have reduced or stopped accepting new customers, which may result in less options in your comparison results. Access to Flexclusives - Select Credit Card and low personal loan rate. We have put together 5 ideas for your cash in 2018. Those who have the Santander 123 Lite account will see their fees doubled from the end of October. Copyright © Choose Wisely Limited 2020. Online is easiest. Andrew joined Choose Wisely 5 years ago, originally working in a design capacity to make sure the website was simple to use. You can manage your alerts settings at any time by using Online Banking, calling us on 0800 9 123 123 … Choose Wisely Limited is authorised and regulated by the Financial Conduct Authority as a credit broker not a lender, firm reference number 730574 and is registered with the Information Commissioner’s Office number Z3106681. Registered address: Kings House, 14 Orchard Street, Bristol, BS1 5EH. Choose Wisely Limited is registered at Telephone House, 18 Christchurch Road, Bournemouth BH1 3NE, Company Number 07580462. Must be aged 18 or older. Send money abroad: Fast and secure money transfers to bank accounts in 38 countries worldwide. From January 2018 over 900,000 people who invested in pensioner bonds will start to see their bonds mature. Cashback capped at £5 for each cashback tier each month. For example, alerts to advise you when your balance has fallen below a set limit, or you have had a deposit into your account greater than a set amount. Lock it in-app temporarily while you look for it or cancel it with a tap if you think it’s gone for good. Santander 123 Current Account Customers can benefit from being able to earn cashback on selected household bills, including your mobile phone. and one joint (with a partner for eg) therefore technically you could have two but to get the benefits it may be hard to hit the criteria on both accounts. Thanks for asking a question. The Santander 123 Current Account has a £5 monthly fee which is automatically debited from your account each month. Santander 1|2|3 Current Account. SANTANDER have today lowered the interest rates on their '123' account. 3; On any day a transfer is made to your Account from a linked deposit account a $12 Overdraft Protection Transfer Fee is included in the transfer amount. If I close my current account, can I leave my ISA active? Personal loan available that’s straightforward to use, competitively priced and tailored to you. The information and content of this website is subject to the UK regulatory regime and is therefore intended for UK consumers. You can also request this information in branch or by calling us on 0800 9 123 123. Statements are issued annually in April. No fees when you pay with your card abroad or withdraw money. If you're worried about the impact of COVID-19 on your finances, have a look at our Financial Health and Money Tips. This website uses cookies to improve user experience. Current account is completely free. This comparison simply includes all savings accounts. Easy to manage accounts, whenever, wherever with online and mobile banking. If you already bank with Santander, you'll need to close or transfer your existing account, so that your student current account is your main bank account. You'll get 1.5% on the entire balance up to £20,000. Customers have expressed particularly negativity towards the difficulty of the application process, poor customer service and the cost of their overdraft charges. A cash card can be requested or the account can be linked to an existing Santander card. 2 Triton Square, Regent's Place, London NW1 3AN, Ask Santander | 123 Current Account a question. Get a spotlight on your spending: See what you’ve spent instantly with real-time payment notifications. No paperwork, monthly fees or branch visits. Santander UK changes: Bank cuts interest rates on its 123 account in fresh blow to savers SANTANDER has announced plans to change the in-credit interest rates on a number of its accounts. Here how I worked this out… I started by looking at what I currently get from my Santander 123 account in terms of cashback and interest and setting this against the monthly … The 123 account is a better deal with a Santander mortgage. up until my maternity i worked for santander customer service. Earn Interest: current account pays 0.05% AER on balances up to £85,000.Card gone missing? Despite the poor reviews, there are satisfied customers out there. £13 monthly account fee. You can save more than £20,000 in the account, but won't earn interest on anything over £20,000. Best British Bank and Best Current Account in 2018, 2019 and 2020 at the British Bank Awards. Household bills don’t include TV licence, maintenance contracts (e.g. Michael via email. No monthly account fee. You’ll also have to pay in at least £500 per academic term to retain the benefits the account offers. Access to Flexclusives - Select Credit Card and low personal loan rate. Choose Wisely is a trading style of Choose Wisely Limited and is a free to use price comparison website. On top of that, each individual can have up to two accounts. Despite offering a pretty basic service at their core, current accounts are not all the same. 12 month fee-free arranged overdraft available. Santander offers a range of ISAs, and pays 123 and 123 Lite current account customers a higher interest rate on most of them. I have been trying to open a Santander 123 account since November 2013. 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. We will email you when there is an answer. Why we like it: Get set up in minutes. The Santander 1|2|3 wins for those with savings above £10,000 - or will once the others banks' rate cuts have come into effect. If you only have a small amount of savings as a Santander customer, the financial guru has advised you close any 123 current accounts you may have. Santander, Cahoot, Santander Corporate and Commercial Bank (SCCB), Santander Global Corporate Banking, Place of business: 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. 3980180. Why should I compare current accounts anyway? 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. Registered in England no. 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. A £75,000 UK savings safety guarantee (shared with Cahoot). This should have been easy as I am a long-standing customer with an account and a mortgage since 1979. Santander only pays interest & cashback in months you've paid in £500+, had two 'active' (so not disused) Direct Debits, and paid your monthly fee. No monthly fee. This account does have a £5/month fee, which is automatically taken from the account each month but for most users that's more than covered by the 3% cashback this account gives on utility bills paid by Direct Debit from the account. You can simply open up a new account (there’s no limit to the number of current accounts you can have – I’ve got 14!) With so many different current accounts now available, you can read these honest Santander 123 Current Account reviews to find out what life as a Santander customer is really like. We provide you with information about transactions on your account by posting them to Online Banking for you to view at any time. Overall this account is best for those with a higher amount of savings and those who are considering a cash Isa might look to this account instead. 2 Triton Square, Regent's Place, London NW1 3AN, Address: You can open any of our savings accounts at your local Santander branch. 3% cashback on mobile, home phone, broadband and paid-for TV packages. The cashback you can receive on your household bills includes: As extra incentive, Santander offer a four month fee-free arranged overdraft when you switch and if you use their Switch Service to move your current account then you will receive a Defaqto 5 star rated service. : no charge for making electronic payments, domestic transfers or ATM withdrawals Cookie Policy since 1979 with a 123! 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