123 accounts

robertedmunds

we have 3 123 accounts at present they have the max you get interest on. Please note Martin these are working accounts where money is drawn regularly. I can’t see any options where I can get better terms as every one is cutting interest.
my Marcus account seems to cut rates every two months.
ideas please Martin 

Neil_Jones

See main website:

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/

Once you've exhausted those limits, the easy access accounts are the next best thing:

https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

Unfortunately you are not the only one suffering from interest rate cuts so you need to make the best of what is available.  You could just consolidate the lot into one 123 Lite, tip everything else into a 1.2% instant saver and top your LIte up as and when.  Note that your cashback is capped at £5 per category, but realistically you'd have to have massive bills for it to be an issue.

colsten

Don't expect any response from Martin as he isn't active on the forum. He has, however, written articles about the 123, and the forum has discussed the subject copiously, e.g. here or here 

surreysaver

All accounts seem to be lowering interest at the moment, some on more than one occasion.  If you make the effort to change banks now, you may find that the bank you move to changes their rates during or shortly after your move.  You could open a new account, say Club Lloyds or Bank of Scotland, as they pay interest.  TSB is another.  Downgrade your 123 to a Lite so you still get the cashback but no interest, and it only costs you £1 per month.
But there's no guarantee shortly after moving you won't be back on here asking the same question again!  You could stay where you are until after the dust settles.