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

GeoffTF

I have looked and I have the same document posted. It is not a great way of informing us of the change. It would appear that my best option is to convert my 123 Lite to an Edge account as soon as my cash back is paid, which usually happens on the 27th of the month. That is on a Friday this month. I can then open an Edge Saver.

Stargunner

fly-catchers said:

I am assuming if you already have an Edge account used for the Edge Saver and cash ISA you can’t convert the existing 123 lite account into another Edge account so you keep its existing account number? For ease of the DD going forward. I had considered moving various DD to my Zopa account which pays 2%. But that only lasts a year and that account has been open a couple of months so probably not worth the hassle of moving them.

I converted my edge account to an everyday account last week and closed my edge saver, which was maturing later this month.. I then converted my 123 Lite to an edge account and opened a new edge saver yesterday. I will miss out on a bit of extra cashback over the next month or 2, but it is only a small amount  
I already have a joint edge account and edge saver.

badger09

RedImp_2 said:

Well I’ve now had official notification of this , it was a document saved in my statements & documents which I saw when I went to look at my statement ( I note rubbing it in it said I’d had £3,300 cashback since account opening).
I’ll probably switch to the Edge which will at least give me some small benefit.

Just checked & my notification dated 10 June is there. 

I think this is poor customer service from Santander. They manage to email me every month to tell me a statement is available but don’t bother informing me of an important change to my current account. 

HedgehogRulez

Here you go….

brewerdave

VERY sneaky - the notice of variation has appeared in the list of documents and statements ,dated 10th June as per others - no emails/texts to point to this change - wouldn't mind betting that they will mass email ~ 14th August hoping that many customers will just accept the change at the last minute !!
I will probably convert to Edge in August to ,at least, get some cashback and then look around at other offerings in the market for a potential switch.

friolento

badger09 said:

RedImp_2 said:

Well I’ve now had official notification of this , it was a document saved in my statements & documents which I saw when I went to look at my statement ( I note rubbing it in it said I’d had £3,300 cashback since account opening).
I’ll probably switch to the Edge which will at least give me some small benefit.

Just checked & my notification dated 10 June is there. 

I think this is poor customer service from Santander. They manage to email me every month to tell me a statement is available but don’t bother informing me of an important change to my current account. 

The documents often appear online before we get an email to tell us there are documents. They still have several days before we enter the 2 month notice period.

badger09

friolento said:

badger09 said:

RedImp_2 said:

Well I’ve now had official notification of this , it was a document saved in my statements & documents which I saw when I went to look at my statement ( I note rubbing it in it said I’d had £3,300 cashback since account opening).
I’ll probably switch to the Edge which will at least give me some small benefit.

Just checked & my notification dated 10 June is there. 

I think this is poor customer service from Santander. They manage to email me every month to tell me a statement is available but don’t bother informing me of an important change to my current account. 

The documents often appear online before we get an email to tell us there are documents. They still have several days before we enter the 2 month notice period.

Fair comment. 

MACKEM99

I went into a branch a few weeks ago to ask about the change.  Assistant said the staff had not been informed and they often had to refer to mse to get their info!

EssexHebridean

I've had the email today pointing me to look at the "Notice of variation" - it was only that the wording was a bit odd that prompted me to go and look... 

Time to review how the cashback will work for us on the Edge account again I think - last time we looked though it was too tight to make it worth it as we'd have been losing money on the no-council-tax months! otherwise, let's see who is offering a switch incentive at the moment and away we go! 

WillPS

A little calculator is available so you can see before and after: https://www.santander.co.uk/landing/current-accounts/cashback

Don't bother adding anything in the linked saver section because that can be had without paying a fee. 

In my case 123 Lite earns £3.80 a month while Edge would earn 70p. Hardly worth the bother to set up but might as well take it since it's all set up.

I could jimmy it by asking Octopus to take a higher monthly DD but then I'd have to ask them to return it every month and lose the interest on those funds.