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

TheTracker

About £7 per month now (Council Tax, Energy, Mobile Phone, Broadband) but I have these split across two 123 accounts.

I have two 123's as I applied early before the single account limit was in place. I'm currently only keeping 10-15k in each as I reduced my cash reserves recently. I already use all the other 3%+ accounts elsewhere. I now have the dilemma of whether to kill off the 2nd Santander and save £60pa or keep it around for when I'm flush in cash next year and able to fill both accounts. Yes for when it was £24 not sure about £60. Time for a spreadsheet - hoping it shows not worthwhile so I can stick two fingers up at Santander.

pollypenny

I'm not sure about keeping it now, either.

I pay Talktalk as soon as I get the bill, saving 10%, so that cuts the cash back. Our Council Tax is paid over ten months, that's our biggest bill and there'll be no cash back there.

I am reluctant to move, as it's been so easy to operate and a good home for £20k.

Might be worth waiting until the interest is not taxed.

colsten

pollypenny wrote: »

Might be worth waiting until the interest is not taxed.

The Santander hike doesn't coincide with the tax changes. Even if it did, not everyone will only receive interest from Santander. Bottom line, nothing changes the fact that the 123 will cost £36 more from January.

badger09

pollypenny wrote: »

I'm not sure about keeping it now, either.

I pay Talktalk as soon as I get the bill, saving 10%, so that cuts the cash back. Our Council Tax is paid over ten months, that's our biggest bill and there'll be no cash back there.

I am reluctant to move, as it's been so easy to operate and a good home for £20k.

Might be worth waiting until the interest is not taxed.

Why not?

I pay ours over 10 months and get the relevant cashback. Not for the 2 months its not paid, obviously

TheTracker

It's been two or three years now that all councils have to allow 12 month council tax, not 10. Of course, some consumers still prefer ten (which I find a little unfathomable).

surreysaver

I get £12.00 per month. I increased my monthly payments to £1,000 on my mortgage. I also borrowed £20,000 off my mortgage and put it in my 123 account. I pay 1.25% on my mortgage with Santander.

colsten

badger09 wrote: »

I pay ours over 10 months and get the relevant cashback. Not for the 2 months its not paid, obviously

same here.......

enthusiasticsaver

I get around £8.50 in cashback across both of my Santander 123 accounts.

djpailo

I get like pennies because I don't pay any house bills so I feed of the scraps from the offers page. Giffgaff are the only bill I pay and they don't have direct debits which is highly frustrating.

mzealander

I do very well from 123 cash back.

Mortgage
C. Tax
Gas Elec and Water
Sky TV

£16 per month after fee.

Current total (2.5 years) £670