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Dec 16, 2022 · I've got a Santander 123 account (not Lite) which pays interest of 1.5% and 3% cashback on bills. The fee is £2. I'm thinking of changing this to an Edge account which pays no interest, the fee is £3 and just 1% cashback on bills.
- Key Features
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- Is The Santander 1|2|3 Current Account Right For Me?
- What Are My Alternatives?
Monthly interest of 1.75% AER (variable) on balances up to £20,000Up to 3% cashback on selected household bills, capped at £5 each cashback tier each monthEarn up to 15% cashback with Santander Retailer OffersArranged overdraft facility (subject to status)To qualify for a Santander 1|2|3 Current Account, you need to be aged over 18 and live in the UK permanently. You’ll need to pay at least £500 into your account each month and set up two active Direct Debits. You can only hold a maximum of two 1|2|3 Current Accounts: one in your own name and one in joint names.
Cashback is paid in three categories: 1%, 2% and 3%. You can only earn up to £5 in each tier each month, so a maximum of £15. Account Holders get 1% cashback on council tax, mobile and home phone bills, broadband and paid-for TV packages, and Santander monthly mortgage payments. You’ll get 2% cashback on gas and electricity bills, plus Santander ho...
The cashback on your household bills mean the Santander 1|2|3 Current Account is a competitive proposition. If you earn the maximum cashback each month for a year (including the double cashback on energy bills for two months), you can pocket a total of £132 from Santander in the first year. However, you have to pay a £4 monthly fee to maintain the ...
Banks are fighting for current account customers at the moment. If you’re after a cash switching incentive, First Direct’s 1st Account also offers £175. If you’re a cashback fan, Virgin Money’s M Plus account offers 25% cashback for two months on supermarket and fuel spend (up to £160). If you want to switch to Santander but are put off by the £4 m...
Jun 20, 2023 · The banking giant has today launched the Santander Edge Up current account, offering customers the chance to earn £100 a month in cashback and interest as it closes its 1|2|3 product.
May 20, 2021 · The difference between the Santander 123 and 123 Lite account is the monthly cost, the interest rate, and a few eligibility requirements. For the Santander 123 account, you’ll need to pay double the amount each month to gain access to a 0.3% interest.
If you’re looking to open a new account you can choose between the Edge or the Edge Up, while some of you might still have the 123 or 123 Lite. So which is better? This article will help you decide on the best paying option for you.
Jun 20, 2023 · Anyone who already has a 123, Select, or Private current account with Santander can choose if they'd like to retain their existing account or transfer elsewhere. Anybody...
Jun 23, 2024 · Should you switch to Santander Edge? There are some current accounts with great interest rates out there, and some are fee free, so it’s definitely worth having a look at those first. As for switching to Santander Edge, it might only be worth it if you normally use a debit card instead of a credit card as this is where you’ll likely earn ...
