Santander 123 multiple accounts

jimbob3

hi has anyone tried opening more than the "allowed" number of Santander 123 accounts? I have one for me plus a joint one with the wife and was wanting to open a second joint account with my brother to manage some shared properties.



I spoke to someone in the branch who said "we can't do this as you can only have one sole and one joint 123 account but you could do it yourself online I don't think the system would stop you"? Leaving aside whether it is a good idea for me to have a joint account with my brother has anyone actually tried this or is this guy talking b*%llocks?


thanks

Zanderman

The rules are clear on the 123 page:

You may only hold a maximum of two 1|2|3 Current Accounts, one in your own name and one in joint names.

https://www.santander.co.uk/personal/current-accounts/123-current-account

So you clearly would be breaching the rules if you did what branch suggested. And might get the third closed down.

However, it's not clear whether that rule is just for traditional 123 accounts or both 123 and 123 Lite accounts. The rules for 123 Lite don't mention a limit. They don't mention there isn't one either.

So, if it's cashback you're after, then I'd consider opening a third account - but as a 123 Lite. As 123 Lite doesn't mention a limit.(see details here: https://www.santander.co.uk/assets/s3fs-public/documents/123-lite-current-account-kfd.pdf)