Santander 1 2 3 account

JimmyTheWig

BobQ wrote: »

I think this train is ridiculous. Until they start insisting on you signing up for long periods with lockin penalties, its quite easy to move if they do this.

But there is a huge inertia in moving bank accounts.
I can categorically state that if it got to the point where the rewards for this account were worth less to me than the monthly fee I would close the account. But I bet there are many, many out there who would keep it open because of the hassle factor of moving.

innovate

JimmyTheWig wrote: »

..... many out there who would keep it open because of the hassle factor of moving.

May be, may be not - - I reckon most of the people with a Santander 123 moved to it because of the incentives. For a very small percentage of 123 account holders, it will be the first account they ever held. So it is most likely that the vast majority of the 123 account holders would do just like you (and I) - i.e. close the account as soon as it costs more than it pays.

But in any case: anyone not moving (or opening new) current accounts when it would be in their own interest has only got themselves to blame.

JimmyTheWig

innovate wrote: »

I reckon most of the people with a Santander 123 moved to it because of the incentives.

Yes, it's a problem with offering the best deal on the market - you end up with the most savvy customers!