Downgrading Santander 123 to 123 Lite not straightforward

Ronknee

On 5th May, the 1-2-3 account interest rate fell from 1.5% to 1%. When logged in I tried to "downgrade" to the Lite 1-2-3 account. It was a long process and it created a Lite account with a new sort code and account number. I rang Santander and asked them to delete this unwanted account.

I was advised to go to santander.co.uk WITHOUT LOGGING IN and it was a simple process which took seconds. Just had to enter my sort code and account number.

Very counterintuitive and didn't feel very secure.

If I were cynical, I'd think it's almost as if Santander doesn't want customers to "downgrade" when a 1% rate can be bettered.

roddydogs

I'm guessing its just overload, must be thousands all trying to do the same thing.

colsten

The downgrade process does not create a new 123 Lite with a new sort code and account number unless you ask it to do so.
You can argue that Santander should not offer the customer to downgrade or to apply for a new account under the 'downgrade' option but I am sure it's not a conspiracy, or system overload.

Ronknee said:

I was advised to go to santander.co.uk WITHOUT LOGGING IN and it was a simple process which took seconds. Just had to enter my sort code and account number.

Have you got the URL for the simpler option, please? Or was the simpler option for closing the unwanted new 123 Lite only? I'd be extremely worried if you could delete or downgrade any account without being logged in, as that would quite obviously be a very severe danger for all account holders.

Ronknee said:

On 5th May, the 1-2-3 account interest rate fell from 1.5% to 1%.

Were you meant to post this today, on the 4th of May?

ratechaser

https://www.santander.co.uk/personal/current-accounts/123-lite-current-account/apply-for-a-123-lite-current-account

Colsten, this is the link, you can downgrade (or presumably upgrade) using the "Transfer a Santander account" link - and no, it does not require you to log in, nor does it send you an email confirmation until the transfer has completed - so as long as you have the account holders details, it does look like you can change the type of account without further verification...

...and it works as I downgraded 2 accounts to lite last week. You get an on screen transaction reference, and the next day I got an email confirming the change had completed. Don't know how much if any human intervention took place behind the scenes but it was fast enough to suggest it may have been a fully automated overnight 'batch' process...

Didn't initially realise the security implications but I think you are right to be concerned!

colsten

Thanks @ratechaser - that is extraordinarily unbelievable! They must be out of their collective minds in Santander, making something like this available without any ID verification! I will raise a complaint.

colsten

Santander are not accepting a complaint about this, and are saying it is not a security issue as you will get an email confirming the downgrade, and if you had not requested it yourself, they can un-downgrade you if you so wish.

digalumps

Oh well that's alright then...

Unbelievable security lapse I think. Is there a similar online form to re-upgrade it again? How long should the miscreant allow before downgrading it for a second time?

ratechaser

colsten said:o

Santander are not accepting a complaint about this, and are saying it is not a security issue as you will get an email confirming the downgrade, and if you had not requested it yourself, they can un-downgrade you if you so wish.

Well that's ok then.

No email at the point of application when it could be picked up and escalated, only an email once completed and you'd have to fight to unwind the change. Bet that doesn't happen within 24 hours.

And I wonder if that email goes to the email address you have in your account details, or to the email that you put on the application form.

For that matter, would Santander then hit you with a credit search in order to re-upgrade you?

I'm now very glad that I only have enough money with them to cover the DDs that are generating my cashback!

badger09

WOW that really is incredibly lax

surreysaver

ratechaser said:

colsten said:o

Santander are not accepting a complaint about this, and are saying it is not a security issue as you will get an email confirming the downgrade, and if you had not requested it yourself, they can un-downgrade you if you so wish.

For that matter, would Santander then hit you with a credit search in order to re-upgrade you?

You wouldn't be credit checked to upgrade / downgrade an existing account.  Nut it does seem remarkable you don't need to be logged in to do this!

roddydogs

Just  noticed that on the 3rd August it goes from 1% to 0.60%, yes I realise you already know.