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Santander 123 Lite - conversion to Everyday Account from 21 August 2025?
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The only thing I can think of is I have a lot of current accounts with other providers, some with 0% overdrafts which I stooze. There's a couple that have provided a 0% overdraft recently which didn't before, so I've taken the opportunity to stooze those as well. That's all I can think of, and the only thing which has changedGeoffTF said:
That was my thought. Perhaps they have been told to clamp down on the more unprofitable current accounts. Santander has announced the end of their "free for life" business accounts, and is getting rid of the 123 Lite accounts. Another possibility is that something untoward has appeared on one of your credit files. I would check them.surreysaver said:
Only for another couple of months. My overdraft is withdrawn from 1st September, which coincides with when the changes occur.GeoffTF said:
You have told us. You are getting the 123 cashback, but are not keeping a balance in your account. Santander is losing money on your account. I do not expect that they are pleased with that.surreysaver said:
I've not changed the way I've used it in twenty years. Thanks for the accusation, but having literally only just received the notification (well, about two hours ago now), perhaps there'll be others as well.GeoffTF said:
We are not getting reports of others having their overdraft limits cut to zero. It looks likely that Santander is not amused by the way in which you are using your account.surreysaver said:Just received notification that Santander are reducing my 123 Lite arranged overdraft from £4k to £0, even though nothing in my financi life has changed.
Looks like Santander are serious trying to reduce their costs.
I always keep my Lite at £0 and replenish it when SOs/DDs are taken. I'd rather not keep a positive balance in it earning 0%, so was wondering has anyone experience whether Santander are happy for their account to go into unarranged overdraft and have it replenished?
Otherwise I'll just be moving everything elsewhere (which is probably what Santander want anyway)
If you have any insights on how they might not be amused, that might be useful?
I wonder whether they're trying to push customers to either take the Edge Account, or to leave?
I have my (flexible offset) mortgage with Santander, also effectively at a £0 balance so am earning the cashback from that until the changes too.
Maybe they don't like that I'm making a profit from them!I consider myself to be a male feminist. Is that allowed?0 -
I have seen a few people here is suggesting to switch it to edge account.But as far as I am aware from their websiteThe same fee with Santander 123 of £3 but the 1% cashback is only up to £10 a month.Regarding saving come with Santander Edge, there is still other alternative if you have not maxed out all of the high interest saving saving. If you do not need their high interest saving account because you could still find other high interest saving, is it worthy to switch it to Santander edge and keep paying £3 a month if you could still recover this cost from cashback ?Is the cashback of 1% for indefinite as long as Santander Edge is still active ?1
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Unless they change the rules on direct debit spending.adindaspantai said:Is the cashback of 1% is for indefinite as long as Santander Edge is still active ?
Santander have already announced that from 9 September they will remove the 1% cashback on supermarket, fuel, and travel debit card spending for Edge and Edge Up customers.1 -
After the fee for the Edge Account, I’ll benefit to the tune of about 40p a month on the cash back, so I won’t bother. A shame, I’ve had the 123 Lite account pretty much since it came out (and had the 123 before that too). I suppose I’ll stay with Santander until I qualify for a switch with an incentive elsewhere.2
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The 123 Lite monthly fee is £2 not £3. My cashback just about covers the £3 Edge fee, and I do not want to move my account. The Edge Saver is paying a premium rate of interest at least for now.adindaspantai said:I have seen a few people here is suggesting to switch it to edge account.But as far as I am aware from their websiteThe same fee with Santander 123 of £3 but the 1% cashback is only up to £10 a month.Regarding saving come with Santander Edge, there is still other alternative if you have not maxed out all of the high interest saving saving. If you do not need their high interest saving account because you could still find other high interest saving, is it worthy to switch it to Santander edge and keep paying £3 a month if you could still recover this cost from cashback ?Is the cashback of 1% for indefinite as long as Santander Edge is still active ?1 -
GeoffTF said:
The 123 Lite monthly fee is £2 not £3. My cashback just about covers the £3 Edge fee, and I do not want to move my account. The Edge Saver is paying a premium rate of interest at least for now.adindaspantai said:I have seen a few people here is suggesting to switch it to edge account.But as far as I am aware from their websiteThe same fee with Santander 123 of £3 but the 1% cashback is only up to £10 a month.Regarding saving come with Santander Edge, there is still other alternative if you have not maxed out all of the high interest saving saving. If you do not need their high interest saving account because you could still find other high interest saving, is it worthy to switch it to Santander edge and keep paying £3 a month if you could still recover this cost from cashback ?Is the cashback of 1% for indefinite as long as Santander Edge is still active ?Thanks for correction. My next approach is trying to find out an alternative to Santander 123 light for cash back taking benefit of paying utility, council tax bills by direct debit. I remember Natwest Reward account use to offer account similar to Santander 123. Unless I have missed it, it seems to me the cashback from Natwest by paying utility, council tax bills by DD has gone. There is a fee and you get reward by having two active DDs but it is not necessarily DDs from utility, council tax bills, any DD will do. So moving utility, council tax bills will not have any additional benefit.I intend to let my San 123 light to self converted to become everyday day account with no fee and move my utility, council tax bills somewhere else earning cashback. Does anyone know where you get reward by paying by DD better than Santander 123 light offering.0 -
adindaspantai said:GeoffTF said:
The 123 Lite monthly fee is £2 not £3. My cashback just about covers the £3 Edge fee, and I do not want to move my account. The Edge Saver is paying a premium rate of interest at least for now.adindaspantai said:I have seen a few people here is suggesting to switch it to edge account.But as far as I am aware from their websiteThe same fee with Santander 123 of £3 but the 1% cashback is only up to £10 a month.Regarding saving come with Santander Edge, there is still other alternative if you have not maxed out all of the high interest saving saving. If you do not need their high interest saving account because you could still find other high interest saving, is it worthy to switch it to Santander edge and keep paying £3 a month if you could still recover this cost from cashback ?Is the cashback of 1% for indefinite as long as Santander Edge is still active ?Thanks for correction. My next approach is trying to find out an alternative to Santander 123 light for cash back taking benefit of paying utility, council tax bills by direct debit. I remember Natwest Reward account use to offer account similar to Santander 123. Unless I have missed it, it seems to me the cashback from Natwest by paying utility, council tax bills by DD has gone. There is a fee and you get reward by having two active DDs but it is not necessarily DDs from utility, council tax bills, any DD will do. So moving utility, council tax bills will not have any additional benefit.I intend to let it self converted to it to become everyday day account with no fee and move my utility, council tax bills somewhere earning cashback. Does anyone know where you get reward by paying by DD better than Santander 123 light offering.Natwest removed the 2% cashback over 5 years ago:There are two players % direct debit cashback market, and you can read about them on MSE:
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I think someone earlier had posted about Zopa current account offering 2% cashback on direct debits. I already have a Zopa account so I might just switch out to that and get a few £ for the DDs for now0
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WillPS said:adindaspantai said:GeoffTF said:
The 123 Lite monthly fee is £2 not £3. My cashback just about covers the £3 Edge fee, and I do not want to move my account. The Edge Saver is paying a premium rate of interest at least for now.adindaspantai said:I have seen a few people here is suggesting to switch it to edge account.But as far as I am aware from their websiteThe same fee with Santander 123 of £3 but the 1% cashback is only up to £10 a month.Regarding saving come with Santander Edge, there is still other alternative if you have not maxed out all of the high interest saving saving. If you do not need their high interest saving account because you could still find other high interest saving, is it worthy to switch it to Santander edge and keep paying £3 a month if you could still recover this cost from cashback ?Is the cashback of 1% for indefinite as long as Santander Edge is still active ?Thanks for correction. My next approach is trying to find out an alternative to Santander 123 light for cash back taking benefit of paying utility, council tax bills by direct debit. I remember Natwest Reward account use to offer account similar to Santander 123. Unless I have missed it, it seems to me the cashback from Natwest by paying utility, council tax bills by DD has gone. There is a fee and you get reward by having two active DDs but it is not necessarily DDs from utility, council tax bills, any DD will do. So moving utility, council tax bills will not have any additional benefit.I intend to let it self converted to it to become everyday day account with no fee and move my utility, council tax bills somewhere earning cashback. Does anyone know where you get reward by paying by DD better than Santander 123 light offering.Natwest removed the 2% cashback over 5 years ago:There are two players % direct debit cashback market, and you can read about them on MSE:Thanks for the head up. It seems to me a better option is to let the Santander 123 light to self converted to become Sanfander Everyday and move Utility, council tax DDs to Zopa Biscuit.I do not really like to have Account on banking apps. Is Zopa biscuit only available on app, or it is also available on online baking ?0 -
App-only - that's the way the cookie crumblesadindaspantai said:Is Zopa biscuit only available on app, or it is also available on online baking ?
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