Personal loan available that’s straightforward to use, competitively priced and tailored to you. No fees when you pay with your card abroad or withdraw money. Current account is completely free. Their flagship current account now pays less than one percent. Seems like free money to me (as long as you pay it off each month). Customers can also earn monthly interest on their Santander 123 Current Account balance of up to 0.60% AER/Gross (variable). 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. I have been trying to open a Santander 123 account since November 2013. The 123 account is a better deal with a Santander mortgage. We have a choice of savings accounts to consider. For more information visit Account alerts. Santander, Cahoot, Santander Corporate and Commercial Bank (SCCB), Santander Global Corporate Banking, Place of business: Why we like it: 2.00% interest for 12 months on balances up to £1,500 for the first year. You are also able to have two accounts in your name, but one must be joint – meaning couples can save £60,000 between them. Currently, you can get 1.5% on balances from £3,000 to £20,000. Fees hike. Must be aged 18 or older. That’s what I did, and in the end I stayed with Santander, but switched my account to 123 Lite. Why we like it: Earn 0.60% AER (variable) interest on balances up to a maximum of £20,000. We will email you when there is an answer. Up to 3% CASHBACK on various household bills. Three-month interest holiday on the first £500 of an arranged overdraft. 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. 3% cashback on mobile, home phone, broadband and paid-for TV packages. The information and content of this website is subject to the UK regulatory regime and is therefore intended for UK consumers. 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. 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. Pensioner Bond Maturity - 5 Ideas For Your Cash, 1% cashback on water and council tax bills and on your Santander monthly mortgage payments (up to a maximum of £1,000). No paperwork, monthly fees or branch visits. Although Santander is no longer the clear market leader among current accounts, it may still be a good (and possibly the best) choice for some people. Despite offering a pretty basic service at their core, current accounts are not all the same. All rights reserved, Where to turn if you’re struggling with debt, The Choose Wisely guide to applying for a prepaid card, Earn interest and up to 3% cash back on selected household bills, capped at £5 for each cash back month, Earn monthly interest of 0.60% up to a balance of £20,000, Manage the account with online and mobile banking. This should have been easy as I am a long-standing customer with an account and a mortgage since 1979. Why we like it: Everyday current accout. 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. 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. Those who have the Santander 123 Lite account will see their fees doubled from the end of October. Online is easiest. You may only hold a maximum of two 1I2I3 Current Accounts, one in your name and one in joint names. 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. This comparison simply includes all savings accounts. To be eligible to open this account you must be 18 years old or over and live in the UK for tax purposes. This website uses cookies to improve user experience. If you're worried about the impact of COVID-19 on your finances, have a look at our Financial Health and Money Tips. 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. High street bank Santander will make yet more changes to perks on its 123 accounts this week – the latest in a string of savage cuts. Despite being such a big name in banking, Santander have received a rating of ‘bad’ from TrustPilot. 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. 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. Copyright © Choose Wisely Limited 2020. This process can take up to seven working days. in the terms and conditions you can only have one 123 current account in a single name ie. www.simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Limited, which is authorised and regulated by the Financial Conduct Authority (FCA). So someone who opens both and puts £3,000 into each would receive a total of £180 … 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. Will start to see their fees doubled from the end I stayed with Santander, wo. Such a big name in banking, Santander have received a rating of ‘ bad ’ from.! ’ from TrustPilot registered at Telephone House, 14 Orchard Street,,. And remember, if you have a 123 Current account, can leave... You consent to all cookies in accordance with our Cookie Policy people invested! 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