Interested in moving to 123

thebirches

We have our current account and mortgage with Nationwide.

The mortgage is at the low variable rate after the fixed rate came to an end.

I am interested in moving the current account to a Santander 123 account as we get no interest on our flexaccount and very little interest with the attached e savings.

Will doing this affect our mortgage with Nationwide?

grumbler

No, it will not.
Why would it?

Bloomberg

thebirches wrote: »

We have our current account and mortgage with Nationwide.

The mortgage is at the low variable rate after the fixed rate came to an end.

I am interested in moving the current account to a Santander 123 account as we get no interest on our flexaccount and very little interest with the attached e savings.

Will doing this affect our mortgage with Nationwide?

A friend of mine said that switching his mortgage to Santander will save him a lot of money each month (circa £60). He said that he is also contemplating switching his current account too, personally I would think twice about trusting Santander with my current account, I know that you only hear the bad but there are some real horror stories on this website.

cjj_2

I have a 123 and its fine ish.
The in branch people I find helpful but just don't like ringing up with a query as this can be a nightmare depending on who you get.. As daft as it seems I can't get online banking with Santander as it keeps giving me error message when I know I'm doing it right. I would prefer another bank but for the interest and dd payments stick with them. Hth x

psychic_teabag

You don't need to switch your current account to Santander to get the benefits : you can just open it as a second current account. (Though I can understand that some people might prefer to have just one current account.)

Don't forget to check quidco or topcashback since there's often cashback available for opening a 123 account.

innovate

Bloomberg wrote: »

I would think twice about trusting Santander with my current account, I know that you only hear the bad but there are some real horror stories on this website.

I have not seen anything about the Santander 123 that resembles a real horror story.

The only negative comment I have seen was a few days ago from a user who hadn't know that he could upgrade his existing Santander current account to a 123, and therefore spent a lot of time setting up new DDs, had new card, new account number etc. Hardly a 'real horror story'.

All remaining reports about the 123 I have seen on MSE, and anywhere else for that matter, have been positive. I have been a 123 account holder myself for almost a year now, with no more problems that I experience on other current accounts or with other banks.

Would be very interested in reading those real horror stories about the 123, so links please!

innovate

cjj wrote: »

As daft as it seems I can't get online banking with Santander as it keeps giving me error message when I know I'm doing it right.

What are Santander saying about this error?

Midzone

I've been with Santander for a year - no problems with the 1-2-3 Current Account or Credit Card plus 3% interest on current account if balance over £3000 which tops many poor savings accounts.

Can't fault it and would recommend.

goldmask

I get cashback for all utility direct debit payments, 3% interest on balance morn than 3000 pounds (better than all instant saving accounts in the market right now). I hardly ever need to visit them in branch or contact them by telephone, their online banking is one of the best I got. One trick I find useful is to use their secure message service. I left messages to close accounts, to upgrade accounts, and to transfer money. All requests were dealt with on the same day which is very impressive.

thebirches

Thanks for all the replies.

I know it probably makes no difference to the mortgage, just don't want any nasty surprises later.

The 123 account really does sound good, it's just a shame Nationwide don't do anything similar, as I have been with them for years, but money talks.

ManAtHome

As per post #5, you don't need to switch - the old Flex account doesn't have a monthly funding requirement unless you need the 'free' travel insurance. I just keep mine for internetting (switch off the overdraft and use it like a prepaid card).