Santander 123 account, CASHBACK on household bills!
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Santander 123 account, CASHBACK on household bills!

28
Found 15th Jan 2013
Cashback on household bills:
1% on water, council tax and Santander mortgage payments2
2% on gas and electricity bills
3% on mobile phone, landline, broadband and paid-for TV packages
+ Up to 3% AER (variable) interest on your balance

Seems a good account too me.

Costs £2 per month
- sindy

From the Terms:

Cashback is only paid when a customer successfully opens a 123 Current Account or an Everyday Current Account and switches to us from their existing bank.

No Annual Fee for the first year. If you already have, or open a new, 123 Current Account, we'll refund the first year's annual fee on your 123 Credit Card. Offer valid until 31/12/2013.

28 Comments

Have to pay an account charge of £2 per month. (£24 pa)
For some it would work, think I woudn't end up that much better off.
Time to go through all the old bills.

Think this will be good for some.
Edited by: "savermonkey" 15th Jan 2013

You have to pay £2 a month for the privilage

But i'm considering going for it

I have one, you should save more than it costs also it has a better interest rate than my last savings account did. If you have a santander mortgage you also get cashback on this too (thats why i went for it)

If you have your mortgage with them you are quids in - 1% cash back

I get about £12 a month so easy pays for the fee plus interest as well at approx £7

If you do go for this go though topcashback for £45

£55 quidco for next 5 days.

Almost without question the worse bank in the UK if not the world! Join them at your peril, just spend 5 mins googling customer service surveys, worst companies to deal with etc and you will see Santander at the top of every one!

Santander....no thank you.

correct but according to which, none of the big banks perform well on customer service surveys. If i can get more interest and cashback with one over the other then thats a winner for me.

'Santander maintained its position at the bottom of the pile, scoring just 46%, with Halifax not far behind on 48%, which was also well below the average score of 62%. Bank of Scotland, Royal Bank of Scotland, Lloyds TSB, Barclays, Natwest and HSBC were all rated poorly too'

I have this account and it is great. Yes, there
is a £2 per month charge but the cashback
from Gas, water, electricity, supermarket
shopping and most importantly, petrol more
than makes up for the £2 charge. It is an easy
account to manage and in my experience
there have never been any problems. Good
deal. Thanks for the post.

gluke21

I have this account and it is great. Yes, thereis a £2 per month charge … I have this account and it is great. Yes, thereis a £2 per month charge but the cashbackfrom Gas, water, electricity, supermarketshopping and most importantly, petrol morethan makes up for the £2 charge. It is an easyaccount to manage and in my experiencethere have never been any problems. Gooddeal. Thanks for the post.


Is this a poem?

works out good for me - petrol cashback alone worth it.
and the deal breaker for me is 3% interest on balance up to 20k - better than most savings accounts.
customer service - no problems for me in 10+ years with santander.
before voting cold and whining about cost-effective + 24 hours, 365 days/year overseas call centres [do uk call centres do this?] look at website and put ur monthly expenditure in and most people will find that they easily cover the annual cost.

I have this account just swapped from IF I am very happy with it.
Most banks/organisations etc perform poorly sometimes.

i got this account through topcashback and it does pay for itself.

sunnyhot: 1% interest on balances over £1000; 2% on balances over £2000, and 3% on balances between £3000 and £20,000.

llywmog

i got this account through topcashback and it does pay for … i got this account through topcashback and it does pay for itself.sunnyhot: 1% interest on balances over £1000; 2% on balances over £2000, and 3% on balances between £3000 and £20,000.



still good
but this deal is going to be voted cold due to people reading surveys about poor customer service rather than own experiences e.g. i've been with santander and virgin media for years but never had any "problems" but have had "major" problems [from memory] with sky, scottish power, npower, british gas, pizza hut, pizza express, m+s, tesco.

my mortgage is with Halifax, will it be eligible for cash back?

sparkeeh

Is this a poem?



It wasn't meant to be but thanks
for the compliment, I think !

nictry

Almost without question the worse bank in the UK if not the world! Join … Almost without question the worse bank in the UK if not the world! Join them at your peril, just spend 5 mins googling customer service surveys, worst companies to deal with etc and you will see Santander at the top of every one!



Their problems were mainly in
amalgamating accounts from
the banks they aquired. You are
being a bit over the top saying
they are the "worst in the world."
Been with A&L for over 30 years
and no problems. Give them a
try and make some dosh in the
process.

I've been with Santander over 5 years now, so far so good. Maybe it's not much, but if someone has a mortgage with them, than it makes some profits, also the interest rate is not to bad. So voted hot.

17/12/2012 1 Direct Debit Payment for Mortgage at 1,00% Cashback £4.49
17/12/2012 1 Direct Debit Payment for Gas & Elect. at 2,00% Cashback £0.76
17/12/2012 2 Direct Debit Payments for Comms at 3,00% Cashback £0.77
17/12/2012 INTEREST PAID AFTER TAX 1.80 DEDUCTED £7.18

The interest rate above £3000 beats any easy access saving account out there, HBOS and lloyds have current accounts at 3% however there's no cashback so as long as you make more than £2 on cashback alone then you're better off with this.

People moan about their customer service, I've been with them over 3 years and had no trouble at all, they also offered me the 123 credit card free for 12 months so with cash back on that I'm very much quids in.

Lloyds is one to look out for with their appalling over drawn charge, which they kept wrongly charging me for 4 months running. Everyone has different experiences with different companies and it's ll to do with who voted and how many voted too.

Semisky

my mortgage is with Halifax, will it be eligible for cash back?



no

sunnyhot

24 hours, 365 days/year overseas call centres (do uk call centres do … 24 hours, 365 days/year overseas call centres (do uk call centres do this?)



Yep. My current account is with First Direct and they do (consistently good service too). Even so (and despite some poor experience with Santander in the past), I'm prepared to take the risk and open a second current account with Santander, just to pay the bills and get the cashback (at least until it inevitably drops in future - or maybe I'm just a cynic!)

The best thing about this account? 3% interest rate on balances in your current account. That's better than any easy access savings account out there at the moment.

Plus then there's the cashback on a whole load of things.

Of course, if you're always in your overdraft and don't really have big bills to pay, then this 123 account is probably not for you.

MarkWilson

Yep. My current account is with First Direct and they do (consistently … Yep. My current account is with First Direct and they do (consistently good service too). Even so (and despite some poor experience with Santander in the past), I'm prepared to take the risk and open a second current account with Santander, just to pay the bills and get the cashback (at least until it inevitably drops in future - or maybe I'm just a cynic!)



This is exactly what I have... a First Direct account, as well as a Santander 123 account!

£50 topcashback on this at the moment as well.
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