MoneySaving Poll: Santander 123 customers – how much cashback do you get?

Former_MSE_Sam_M

Poll started 17 September 2015

Santander 123 customers – how much cashback do you get?

Do you have the Santander 123 bank account? Please vote in our bonus poll this week.

What is the typical annual amount of cashback you earn on your bank account (please exclude any earned on your Santander 123 credit card) BEFORE the fee and BEFORE adding any savings interest (if you haven’t had a full year yet, please estimate)?

Click here to vote in the poll

Did you vote? Are you surprised at the results so far? Have your say below.

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Consumerist

Council Tax, water and energy - that's about it for me. Won't even make the annual fee from January.

Yorkshire_Pud

Less than £20 a year for me.

I expect Santander will increase the cashback rates to compensate for the increased monthly charge, won't they!?;)

Consumerist

Personally, I think there is going to be a lot more in the melting pot once the CMA has completed its investigation. As things stand, banks are already starting to make annual charges the norm but are still charging £1 - £5 per day for overdrafts.

The banks must be aware of CMA thinking and are increasing account charges first and won't reduce other charges until forced at the last minute.

It wouldn't surprise me if cash-backs disappear altogether.

oly2c

Anyone able to use Direct Debits for all their utilities payments should easily cover the new charge.
I get cashback on broadband, gas & electricity, council tax and water bills which easily exceeds it and I am a single person living alone.
The 3% interest on my savings is a great extra bonus.

Consumerist

oly2c wrote: »

. . . I get cashback on broadband, gas & electricity, council tax and water bills which easily exceeds it and I am a single person living alone.

I must pay far less for these services than you do.

My advice: get these services cheaper where you can.

amibovvered

Well, I live alone and will barely cover the current (£24) charge. I only opened the account a few days before the new rate was announced so feeling pretty miffed! However, overall I will gain as I have about £17,000 in the account.

colsten

amibovvered wrote: »

Well, I live alone and will barely cover the current (£24) charge. I only opened the account a few days before the new rate was announced so feeling pretty miffed! However, overall I will gain as I have about £17,000 in the account.

For £17K, you'll get more interest elsewhere. Various combinations are possible, e.g. 3 x BoS Vantage and a Tesco account will pay you proper 3% AER. You can also get 4, 5 and 6% on at least some of your money.

Looking at your nick, you probably can't be bovvered, so sorry for the suggestions.

colsten

oly2c wrote: »

Anyone able to use Direct Debits for all their utilities payments should easily cover the new charge.
I get cashback on broadband, gas & electricity, council tax and water bills which easily exceeds it and I am a single person living alone.
The 3% interest on my savings is a great extra bonus.

You can get 3 and more % interest on over £30,000 so why bother with £20K in Santander.

pollypenny

We get about £4.50 a month, although I try to pay my Talktalk bill as soon as it comes, earning a 10% discount.

I'm very pleased with the Santander account, which we've had just over a year. I save £20k in it, put in £500 a month to pay all bills and get cash back.

molerat

£46.32 a year for council tax, gas, electric, mobile contract, phone & internet. Will be slightly less from next month when my new electric contract starts.