MSE News: Santander 123 Lite offers 5% cashback on mobile payments

Former_MSE_Rosie
Former_MSE_Rosie Posts: 105 Forumite
I've been Money Tipped! Newshound! Best Buy Bear
edited 19 July 2017 at 11:24AM in Budgeting & bank accounts
Santander 123 Lite customers will be able to get 5% cashback using Apple, Android or Samsung Pay...
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'Santander 123 Lite offers 5% cashback on mobile payments'
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Comments

  • rtho782
    rtho782 Posts: 1,189 Forumite
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    So, what's to stop me signing up for a merchant account with low fees, e.g. netpay, and paying myself money to generate transactions and therefore profit?
  • KTF
    KTF Posts: 4,820 Forumite
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    Give it a go and see.
  • batrachophagus
    batrachophagus Posts: 45 Forumite
    1) You won't know if they will honour it until November.
    2) They may consider that fraudulent, but seems unlikely they would find out.
  • batrachophagus
    batrachophagus Posts: 45 Forumite
    I had similar thoughts.
  • batrachophagus
    batrachophagus Posts: 45 Forumite
    batrachophagus wrote: »
    I had similar thoughts.


    Pre-paid card load with Monzo. I wasn't going to mention in case any employees read, but it is discussed on another thread already.
  • faddy
    faddy Posts: 508 Forumite
    batrachophagus wrote: »
    1) You won't know if they will honour it until November.
    2) They may consider that fraudulent, but seems unlikely they would find out.

    Fraudulent how?
  • Zola.
    Zola. Posts: 2,204 Forumite
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    They probably have detection in place that will flag up persistent and suspicious trades
  • gt94sss2
    gt94sss2 Posts: 5,626 Forumite
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    edited 23 July 2017 at 2:02PM
    Does anyone know if you already have two 123 accounts, can you downgrade one to the lite version and/or open a new 123 lite account separately?

    Similarly, if you have 1 123 accounr, can you open a lite account as well?

    I presume if you can downgrade an existing 123 account, you won't be able to upgrade it again as they now limit it to just 1 account for new customers..

    Also, do they still limit the total number of current accounts you can have with them at any one time?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
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    gt94sss2 wrote: »
    Does anyone know if you already have two 123 accounts, can you downgrade one to the lite version and/or open a new 123 lite account separately?
    Yes.
    Similarly, if you have 1 123 accounr, can you open a lite account as well?
    Yes.
    I presume if you can downgrade an existing 123 account, you won't be able to upgrade it again as they now limit it to just 1 account for new customers..
    Officially that's a reasonable presumption. Unofficially it isn't!
    Also, do they still limit the total number of current accounts you can have with them at any one time?
    Did they ever limit the number?
  • gt94sss2
    gt94sss2 Posts: 5,626 Forumite
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    YorkshireBoy wrote: »
    YDoes anyone know if you already have two 123 accounts, can you downgrade one to the lite version and/or open a new 123 lite account separately?

    Yes.

    Ah - so if you already have two 123 accounts, you can open a 123 lite one separately?
    Yes.Yes.Officially that's a reasonable presumption. Unofficially it isn't!Did they ever limit the number?

    I thought they had a limit of 5 current accounts at once - though can't recall where I picked that up now.
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