Santander 123 Lite - conversion to Everyday Account from 21 August 2025?

harz99

Well I've registered a complaint with Santander regarding the non paid cashback, so will see what comes of it I guess.

fergie_

GeoffTF said:

harz99 said:

So, our joint 123 switched to Nationwide on 4th July, and my statement period to 2nd July saw no monthly fee taken and no cashback paid on 3rd July, unlike all our previous statement periods.

Our final statement for the account closure and period 3rd to 4th July showed only the account fee taken on 3rd, an occupational pension paid in on the 4th, and full balance subsequently transferred to Nationwide on 4th upon account switch completing.

It isn't a lot, but I reckon I've been robbed of the cashback which has always been paid before or at the same date as the account fee is taken, views please.

What you did was high risk. I waited until the monthly fee had been taken and the cashback paid before converting my 123 Lite to an Edge account. That worked flawlessly. Your best strategy was probably to downgrade to an Everyday account as soon as the monthly fee is taken and the cashback paid, and then switch that to Nationwide.

I wouldn't call switching to Nationwide 'high risk' when they are paying £200 cash back to existing customers for starting a full switch by the 10th of July.

Section62

fergie_ said:

GeoffTF said:

harz99 said:

So, our joint 123 switched to Nationwide on 4th July, and my statement period to 2nd July saw no monthly fee taken and no cashback paid on 3rd July, unlike all our previous statement periods.

Our final statement for the account closure and period 3rd to 4th July showed only the account fee taken on 3rd, an occupational pension paid in on the 4th, and full balance subsequently transferred to Nationwide on 4th upon account switch completing.

It isn't a lot, but I reckon I've been robbed of the cashback which has always been paid before or at the same date as the account fee is taken, views please.

What you did was high risk. I waited until the monthly fee had been taken and the cashback paid before converting my 123 Lite to an Edge account. That worked flawlessly. Your best strategy was probably to downgrade to an Everyday account as soon as the monthly fee is taken and the cashback paid, and then switch that to Nationwide.

I wouldn't call switching to Nationwide 'high risk' when they are paying £200 cash back to existing customers for starting a full switch by the 10th of July.

The risk is in having the switch date so close to when the fee would be taken and cashback paid.  Any problems, or Santander handling things differently because the account is due to switch, could result in no cashback... as it seems harz99 has unfortunately found.

harz99

fergie_ said:

GeoffTF said:

harz99 said:

So, our joint 123 switched to Nationwide on 4th July, and my statement period to 2nd July saw no monthly fee taken and no cashback paid on 3rd July, unlike all our previous statement periods.

Our final statement for the account closure and period 3rd to 4th July showed only the account fee taken on 3rd, an occupational pension paid in on the 4th, and full balance subsequently transferred to Nationwide on 4th upon account switch completing.

It isn't a lot, but I reckon I've been robbed of the cashback which has always been paid before or at the same date as the account fee is taken, views please.

What you did was high risk. I waited until the monthly fee had been taken and the cashback paid before converting my 123 Lite to an Edge account. That worked flawlessly. Your best strategy was probably to downgrade to an Everyday account as soon as the monthly fee is taken and the cashback paid, and then switch that to Nationwide.

I wouldn't call switching to Nationwide 'high risk' when they are paying £200 cash back to existing customers for starting a full switch by the 10th of July.

Neither would I, as NW have just paid us the £200...

20vt-rs

I've just stumbled over this after logging into my 123 lite account... I ran the calculator and I will gain £0.97 a month on Edge, rather than £4.39 on the current 123lite.
I am in two minds whether it's worth the bother to switch over to the Edge account for 97p, I may just let it run into the everyday account and keep an eye out for anything else decent worth switching to.
For info, i use this account just for bills, each month I pay in all money needed for the bills, and they go out, that's it. Is there any other account out there that does what the 123lite does? I don't think so but worth asking.
Edit: Might be worth switching over to Nationwide before 10th July perhaps (£200 switch?), I am an existing customer with a Flexplus, need to look into this.

goatfaced

Zopa pays £30 a year on direct debits, and NatWest or RBS reward accounts pay £5 a month but with £2 fee if you pay out 2 direct debits of £2 or more and log in once a month. I believe both can be achieved using fake direct debits from moneybox etc. 

There are good switch bonuses for NatWest and RBS. Zopa gives £10 referral to randomly chosen account holders (sadly not me) so you might get lucky hunting for one on Reddit etc. but zopa doesn't switch your direct debits over. 

crumpet_man

harz99 said:

fergie_ said:

GeoffTF said:

harz99 said:

So, our joint 123 switched to Nationwide on 4th July, and my statement period to 2nd July saw no monthly fee taken and no cashback paid on 3rd July, unlike all our previous statement periods.

Our final statement for the account closure and period 3rd to 4th July showed only the account fee taken on 3rd, an occupational pension paid in on the 4th, and full balance subsequently transferred to Nationwide on 4th upon account switch completing.

It isn't a lot, but I reckon I've been robbed of the cashback which has always been paid before or at the same date as the account fee is taken, views please.

What you did was high risk. I waited until the monthly fee had been taken and the cashback paid before converting my 123 Lite to an Edge account. That worked flawlessly. Your best strategy was probably to downgrade to an Everyday account as soon as the monthly fee is taken and the cashback paid, and then switch that to Nationwide.

I wouldn't call switching to Nationwide 'high risk' when they are paying £200 cash back to existing customers for starting a full switch by the 10th of July.

Neither would I, as NW have just paid us the £200...

The risk of something going awry with the Santander cashback is high, given the switch date so close to the cashback date but the consequences are negligible as you were going to get the £200 from Nationwide regardless of what happened with Santander.  

20vt-rs

Well I just looked into the NW £200 switching offer, unfortunately don't qualify as I switched an account to them in 2022   - Worth checking the T&C's with a fine tooth comb before switching to avoid any disappointment.

harz99

20vt-rs said:

Well I just looked into the NW £200 switching offer, unfortunately don't qualify as I switched an account to them in 2022   - Worth checking the T&C's with a fine tooth comb before switching to avoid any disappointment.

Iirc there is a workaround by opening a joint account if you had the bonus previously on a sole account... 

20vt-rs

harz99 said:

20vt-rs said:

Well I just looked into the NW £200 switching offer, unfortunately don't qualify as I switched an account to them in 2022   - Worth checking the T&C's with a fine tooth comb before switching to avoid any disappointment.

Iirc there is a workaround by opening a joint account if you had the bonus previously on a sole account... 

Thanks for that tip, won't work for me as it's already a joint account, but may work for others!