Downgrading Santander 123?

nervous_switcher

Is it possible to downgrade a Santander 123 account to a standard current account? I will no longer be using it as my main account when the interest rate drops from next month. I don't want to close the account completely but I may have to if downgrading isn't possible. Also, do you have to go to branch to do this? I can't see any option for closure or downgrading it through online banking.

mt99

Yes you can request to change it to an Everyday current account via the messaging system when you log on (or by phone or going into a branch)

Chaykin

mt99 wrote: »

Yes you can request to change it to an Everyday current account via the messaging system when you log on (or by phone or going into a branch)

I tried to downgrade my account from 123 to Everyday Current Account back in January (when they upped the fee from 2 to 5 GBP) and got this message back:

Good afternoon Mr *
Thank you for your email.
Regrettably, we are unable to provide advice via this service in regards to downgrading your account.
If you would like to speak to us for advice regarding downgrading your account, you can do so in your local Santander branch or contact us by telephone by using one of the numbers provided below.

Had to phone them to change. Was relatively simple but was on hold for about 25 mins before I spoke to a person and even then they had to read out all key features etc. and it took forever...

Nick_C

Why not upgrade to 123 Lite? Fee is £1 a month. No interest but you still get the cash back on Direct Debits.

Although you may be better off changing to NatWest

bubieyehyeh

I downgraded over the phone, took about 20 mins, and they wanted to be sure I was choosing the right account, read out a load of terms and conditions. Took much longer than it needed to.