Santander 123 account fee increasing to £5 from January

Ballard · 14 September 2015 at 2:17PM

Space_Captain wrote: »

Have Santander Retailer Offers finished ? When I log on I no longer see a link to shops and restaurants that offer cashback.

Even if there weren't any current offers I thought I could view my previous offers.

They're still around on mine but they come and go randomly which I've put down to a bug. If you have the app they're generally shown there all of the time (or at least, whenever I look).

SnowTiger · 14 September 2015 at 3:20PM

Space_Captain wrote: »

Have Santander Retailer Offers finished ? When I log on I no longer see a link to shops and restaurants that offer cashback.

No, still there (for me). Similar to the ones offered by Halifax. Today I have:

Waitrose
Ernest Jones
H Samuel
Robert Dyas
Hilton
Photobox

Former_MSE_Helen · 14 September 2015 at 5:16PM

Santander is upping the monthly fee on its 123 current account and credit card - MoneySavingExpert analyses the changes...

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Santander to shake-up 123 current account and credit card fees

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molerat · 14 September 2015 at 5:22PM

Santander's 123 customers will still get the following as long as each month they pay in £500+, have two direct debits paid out from the account, and pay the monthly fee:

Are they changing the rules as well or is it poor journalism ?

minislim · 14 September 2015 at 5:28PM

shame. i liked the 123 account. it worked out better than savings accounts even with the £2 fee.
introduce an extra £36 on top per year?
its not looking as good anymore. might have to move.

Cactus_Jack · 14 September 2015 at 5:42PM

Very disappointing, I wonder if consumer pressure could make them change their mind..

tizerbelle · 14 September 2015 at 5:46PM

I've always wondered how MSE worked out the "LOW" figures for the annual cashback over the years. Whenever I have checked the figures with my DDs I have never been able to get above about £50 cashback a year - meaning £26 after the annual fee of £24. Currently the most cashback I would get is £45 before the annual fee is applied not after as their table predicts.

YorkshireBoy · 14 September 2015 at 5:55PM

Cactus_Jack wrote: »

I wonder if consumer pressure could make them change their mind..

Are you serious? This is/was/has always been a loss leader for them, and must have cost them a small fortune over the last 3 or so years. I think they've been wanting to cut these losses for some time, and recent external influences have given them the opportunity to do so without losing face.

Herbalus · 14 September 2015 at 6:12PM

Not sure what they're doing with the CC - £3 fee per month with max cashback of £3 for new customers?! So basically a cashback card where you cannot make a net gain. Do they think we're stupid or have I misunderstood something?

YorkshireBoy · 14 September 2015 at 6:19PM

Herbalus wrote: »

Not sure what they're doing with the CC - £3 fee per month with max cashback of £3 for new customers?! So basically a cashback card where you cannot make a net gain. Do they think we're stupid or have I misunderstood something?

Isn't it £3 per category? I could just about manage it on fuel, and the supermarket spend would be my "gain". But I've only made one department store purchase in the 12 months I've had the card!...so that category's out for me.

I suppose the other benefit is 0% on purchases during the intro period...providing you get a decent enough limit of course.

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Santander 123 account fee increasing to £5 from January

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