Martin Lewis says Santander 123 is now a dead duck current account as it cuts interest and cashback
Former_MSE_Naomi
Posts: 519
Forumite
Santander will be slashing current account interest to 1% on its popular 123 account this spring, and introducing a single overdraft interest rate of 39.9%...
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'Martin Lewis says Santander 123 is now a dead duck current account as it cuts interest and cashback'
Click reply below to discuss. If you haven’t already, join the forum to reply.
'Martin Lewis says Santander 123 is now a dead duck current account as it cuts interest and cashback'
Click reply below to discuss. If you haven’t already, join the forum to reply.
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Comments
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What better alternative has he got in mind for people whose DDs and SOs add up to more than £5k a month, and who easily get £5 cashback each month?0
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i was going to say Martin wouldn't be happy as only a few weeks ago he'd just started bigging this account back up again.0
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He'd only be unhappy if they had cut the referral fee. Which they seem to have done, too, as there's not a single asterisk against Santander in that "ditch it!" announcement :cool:0
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There's already an earlier thread on this here: https://forums.moneysavingexpert.com/showthread.php?p=76720343&posted=1#post767203430
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Regarding the new cashback cap for each tier, do many people spend over £166 on phone, broadband, mobile and TV bills per month, over £250 on gas and electricity per month, or over £500 on water and council tax per month?
Because that's how much people would need to spend to get the level of cashback the Santander spokesperson refers to!0 -
Regarding the new cashback cap for each tier, do many people spend over £166 on phone, broadband, mobile and TV bills per month, over £250 on gas and electricity per month, or over £500 on water and council tax per month?
Because that's how much people would need to spend to get the level of cashback the Santander spokesperson refers to!
But include Santander mortgages?0 -
Santander are number 1 read article on BBC News at the moment :eek:
https://www.bbc.co.uk/news/business-51106886Retired 1st July 2021.
This is not investment advice.
Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."0 -
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Regarding the new cashback cap for each tier, do many people spend over £166 on phone, broadband, mobile and TV bills per month, over £250 on gas and electricity per month, or over £500 on water and council tax per month?
Because that's how much people would need to spend to get the level of cashback the Santander spokesperson refers to!
No but with gas/electric you can artificially bump up your DD's then request a refund for the overpayment. Then click the cashback on the larger DD.0 -
Regarding the new cashback cap for each tier, do many people spend over £166 on phone, broadband, mobile and TV bills per month, over £250 on gas and electricity per month, or over £500 on water and council tax per month?
Because that's how much people would need to spend to get the level of cashback the Santander spokesperson refers to!
No to all 3No but with gas/electric you can artificially bump up your DD's then request a refund for the overpayment. Then click the cashback on the larger DD.0
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