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

crumpet_man

That's fine, I'm not trying to convince anyone, just curious/nosey as to what other options are available to those not sticking with Santander.

brewerdave

crumpet_man said:

That's fine, I'm not trying to convince anyone, just curious/nosey as to what other options are available to those not sticking with Santander.

£200 ish to switch elsewhere ? If I stayed with Santander and moved to Edge ,my nett cashback would have been ~ £25pa - so by moving I forego this in exchange for a payment equivalent to 8 years of cash back. And yes ,I could have set up another account to act as the donor for the switch and kept the £25pa but as posted above - a lot of faff!
Also  I have little faith that Santander won't abolish c/back altogether in the not too distant future. 
18 months time ? Who knows ? Another switch if the cash bribes are back ?

friolento

friolento said:

My Lite is still alive. I was charged £2 today, and expect to get some cashback tomorrow, as I always got the cashback the day after the fee got taken.

Cashback paid today, looks like a full month’s worth. The account description is still 123 Lite.

anna42hmr

They took my fee yesterday and was anticipating receiving the last cash back payment today, but nothing paid as yet? will see it comes in tomorrow 

Mine has always been strange for when fee taken and cash back paid, I.e last month fee taken on Tuesday 29th but cash back Thursday 31st, for June paid and claimed fee the same day (Sunday 29th) and in April fee taken on Tuesday 29th and can back paid Wednesday 30 April.

So some times the same day, sometimes the day after and sometimes 2 days after that the cash back was paid after the fee? middle of the week too so not the weekend etc causing it to change

anna42hmr

Well the last cash back for the 123 has come through this morning, was still showing as a lite account , so so have now manually switched it to an Edge account this morning.

Fingers crossed that my electricity direct debit due out tomorrow (1st September) will qualify as the first one for cash back on the new Edge account (does now show as an edge when I look at account type) and I have also applied for the Edge saver account but that can apparently take up to 3 working days to show. Edit - edge saver now also showing as opened so done within minutes

Sea_Shell

My cashback was paid as usual on 13th August (based on DD's taken on the 1st), and the fee was still taken on the 28th!!

The account is still showing as a "123 lite current account switcher"

I've reduced my DD's to as low as I was allowed, ready for the 1st, thinking that it would have changed by now.    Hmm, wonder if i'll get cashback again on the 13th September?  

anna42hmr

Sea_Shell said:

My cashback was paid as usual on 13th August (based on DD's taken on the 1st), and the fee was still taken on the 28th!!

The account is still showing as a "123 lite current account switcher"

I've reduced my DD's to as low as I was allowed, ready for the 1st, thinking that it would have changed by now.    Hmm, wonder if i'll get cashback again on the 13th September?  

I would assume yes based on the letters they sent out in the inbox, it stated changing from 21st august, so assuming that they are letting them all roll to the account month end (so 13 September in your case) paying the final fee and cash back and then changing after that point.  

friolento

Mine has today changed to an Everyday, 1 day after they paid the cashback for the month, and 2 days after they took the monthly fee.

I have decided to upgrade to Edge as it will still pay me net ~£3 a month. Unfortunately, as I already had 2 Edge accounts, it wouldn't let me do this. I have downgraded one of the Edge accounts which now shows as an Everyday but the system still insists I already have 2 Edge ones. I'll give it another try tomorrow.

UPDATE: 24 hours later, it still says I have the maximum number of Edge accounts. 

goatfaced

If you want less to manage, you do you. 

There's direct debit cashback to be had from zopa, or a reward account from Natwest or RBS rewards if anyone else is interested, although it looks like the direct debits can be to your own moneybox account rather than household ones. 

My lite is a joint account and husband has it set up for yougov. It's easier to keep it as it is, or change it to edge even for pence each month. 

jonathan.carling

Adding my info which might be useful to some; I wasn't expecting any cashback for this month but the £2 fee was taken on 2nd (usual date) and then my £11 cashback a few days later which was a win. I noticed today the account name has changed from 123 Lite so I'm guessing that is the end now.

I've been with Santander for over 10 years but I'll get little to no benefit with the new offerings. I already have NatWest where I'm getting £5 in rewards each month so it looks like Zopa is the only one switching to but would be a painful manual job as they don't offer a switching service...