Santander 123, is it worth the trouble?

Cyrus

Hey guys,

Never been a customer of Santander but have read plenty of posts from people that have been and they usually don't sound to happy.

I was wondering if the people that have dealt with them, do they think all the trouble outweighs the benefits from the 123 account?

Cheers

Cate1976

I've got that a/c, just need to make a change so that amount of money going in hits £500 month, easily done by getting tax credits paid in. Will do it when I send in renewal form.

Rogerls

I swapped to Santander from Halifax a couple of years ago. Never had any issues so far...even got £100 for doing so!

Just recently changed from a premium current acc to a 123 acc and had some cash back already - seems fairly good?

Worth a look..

Gromitt

Problem 1: It's Santander.

Problem 2: £2/month fee.

I think I'd prefer the £5/month free from Halifax or the 3% from TSB (on balances >= 3K). Both require 1K/month, but thats easy.

Scrounger

Gromitt wrote: »

Problem 1: It's Santander.

Problem 2: £2/month fee.

I think I'd prefer the £5/month free from Halifax ...

Nothing stopping you having both accounts - some people on here have Santander 123 & multiple Halifax reward accounts.
:beer:
Scrounger

Midzone

Great account never had an issue with Santander - yes there were issues but things have improved now, they are no worse than any other bank. Looking at the news this week both Natwest and Barclays are having bad press and I'd avoid them.

I seem to remember a few weeks back when Santander was downgraded there was uproar on here - this week most other banks have had the same downgrading - but hardly a whisper on these forums. The knives are well and truly out for Santander by a minority - try them yourself you can always walk away.

I have the 123 Bank Account and Credit Card, Savings and an ISA with Santander - one of the best interest rates on savings, cash back on paying for shopping and direct debits - and no problems at all - I'm delighted.

davethorp

We've opened this account about a month ago. No problems to speak of yet. Our first month cash back was 13p less than the account fee but our direct debits were still transferring over and only 2 qualifying direct debits (council tax and a mobile bill) went out. I fully expect next months cash back to be significantly more

pqrdef

The interest is less useful now they pay 3.2% on the eSaver. And the cashback is less useful now there's a 3% cashback credit card on the market.

If I chase the best deals religiously I doubt if I'd use the 123 enough to profit from it.

abaxas

They tried to charge us £80 overdraft charges on an account we closed 6 months before.

Avoid like a alley on a dark night.

HeadAboveWater

I've been with Santander (A&L) a few years after running away from Halifax. No problems.

Recently switched to the 123 Account. Again, no problems. Yes there is a £2 fee, but my interest and cashback is more than that so it is worth my while.

GooliesOfFire

Santander :eek: avoid. Even if they offered £500 to switch I would not. They are rubbish imho. I would rather go to Natwest haha...