Santander 123 Current Account offers & cashback
The 123 Current Account from Santander pays you cashback on your household ...
The 123 Current Account from Santander pays you cashback on your household bills and interest on balance.
123 Current Account pays cashback on household direct debits
- 1% cashback on water, council tax and Santander mortgage payments (up to maximum monthly mortgage payments of £1,000)
- 2% cashback on gas and electricity bills
- 3% cashback on mobile, landline, broadband and paid-for TV packages
Household bills do not include TV licence, maintenance or insurance contracts, commercial use or commercial mortgages.
And also pays in-credit interest
- 1% AER (variable) interest on balances from £1,000
- 2% AER (variable) interest on balances from £2,000
- 3% AER (variable) interest on balances from £3,000 and up to a maximum of £20,000
Interest is paid on the first £20,000 of your entire balance once you have at least £1,000 in your account.
To get cashback on your household bills and interest on your balance, just follow these steps:
- Pay a monthly account fee of £2, which will be automatically taken from your account each month.
- Fund the account with £500 a month (a minimum balance of £1,000 is required to receive interest).
- Set up at least two Direct Debits. For cashback household bills must be paid by Direct Debit to organisations within eligible categories.
Guaranteed payment by 26 September
Rates
for switching from your existing bank to an approved and opened new Santander 123 Current Account completed wholly online
Cashback also available at:
Stats
Guaranteed payment by
26 September
(if you purchase today)
Tracking speed
Less than one week
(from purchase)
100% tracked within 1 day+
Tracking reliability
85.3% tracked
Before you start your application for the Santander 123 Current Account please ensure the following criteria apply to you:
- You are at least 18 years of age
- You are a UK resident
- Minimum monthly funding required: £500
- Single and joint account options
- Customers do not need to have another product with Santander to qualify
- Monthly fee of £2 per account (equates to 6p per day)
Terms and conditions of cashback:
- Cashback is only paid on approved applications which are completed online and within 30 days from application. Any application that needs to be followed up offline (for example, to show proof of ID in a branch) or is over the 30 days from application won’t receive cashback.
- Please be as thorough as possible when completing your details online with Santander to help avoid the application being followed up offline and becoming ineligible for cashback
- After submitting an application you will be given a reference number beginning with OLA. Please keep a note of this number as it will be required if you need to submit a cashback claim.
- It is very important to clear your cookies before proceeding through this link. If you have visited Santander first through another site they will be credited with the commission (having been the first to refer you). If you have gone directly to the Santander site they will place their own cookie on your computer and will not allow the cashback to track.
- Cashback will initially track with no amount. Please allow 30 days for the full amount of cashback to track. If the full amount has not tracked within 30 days please submit a cashback claim within 8 weeks of the application date.
- You must have an active Santander 123 Current Account in order for the Santander to approve your cashback.
- You must have applied and been accepted for the relevant Santander account for your cashback to be issued. For current account applications, cashback will only be issued once your account is successfully opened and you have switched from your existing bank.
- Cashback is only available once per person per product.
- Please note that the use of a Santander promotional/voucher code not posted and approved by Quidco, may affect your eligibility for cashback.
Offers
- All (1)
- Offers with cashback (1)
Now get 1% back on Santander mortgage payments, up to 3% back on other household bills (Terms and conditions)
Details
- Cashback is for switching from your existing bank to an approved and opened new Santander 123 Current Account completed wholly online
- This offer/voucher code was correct at the time of publishing
- It is important that you check your order summary before purchasing
- In the event that the offer/voucher code does not work please refer to our help pages
- Discount cannot be applied to your order after you have made your purchase
- The retailer reserves the right to terminate this offer at any time
User Reviews
Average review1
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16 reviews
3 reviews of 16 ordered by
Great account, slow payment of cashback.
user2854298
(See all their reviews)
(See all their reviews)
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12 days ago
The 123 account is an excellent account as it offers you cashback on certain direct debits that the majority of us have. It has a monthly fee of £2 which is £24 a year which is good provided you get more cashback than the fee your paying.
You can also earn interest of up to 3% depending on how much you deposit into the account, there are very few accounts these days that are offering interest, which means you can also use this account as a savings account if you so wish.
Don't bank of the cashback offer that you get when applying via the Quidco site as Santander are very slow at confirming and paying out. It has taken just over 4 months to get mine and that was only after I raised a complaint to Quidco.
Great account, slow Quidco payout.
Santander - Cashback refused - Scam?
theholmans
(See all their reviews)
(See all their reviews)
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23 days ago
Shocking. Very careful to follow T&Cs as I had read that others had problems with Santander. The tracking failed and then the cashback was refused. Ive asked for details so it will be interesting if they can come up with a valid reason. I did have to contact Santander as some letters went missing but confirmed with them that this would not impact on my claim. This is not really in the spirit of the cashback scheme.
Santander should be ashamed of their customer service.
user1476800
(See all their reviews)
(See all their reviews)
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1 month ago
Like many I was tempted by the offer of 3% interest and the cashback offer which was at the time £55 to open the 123 account. The process started in January. The transaction disappeared from Quidco tracking soon after. I raised a claim through Quidco which was declined by Santander despite me conforming to all of the terms and conditions. I appealed through Quidco and Santander again turned it down.
I then contacted Santander customer services who denied any links at all with Quidco , declined to have a look at the Quidco site to see what apparently was being offered. They suggested some kind of scam was going on that they knew nothing about. I went back to Quidco who took up the challenge to sort it out and 5 months later I have my money all thanks to my persistence and Emily at Quidco. No thanks to Santander at all. I suggest you only take this offer if you are prepared to fight for your money as it appears from my experience and that of others in previous reviews, that Santander do all they can to get out of paying the cashback. A final thanks again to Emily at Quidco, you are a star.
Account benefits great...
user1074884
(See all their reviews)
(See all their reviews)
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1 month ago
The interest rate and cashback on this account are brilliant compared to anything else out there. Santander completely failed to transfer any of my direct debits though so I had to contact all of the companies myself.
I also had to raise a claim for the cashback. It has apparently been agreed now, but not yet paid (4 months after opening the account).
frustrating wait...ending in a declined claim
imrany
(See all their reviews)
(See all their reviews)
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1 month ago
like others who were drawn in by the cashback offered by santander for the 123 account, i have been left disappointed. claim tracked initially, at £0, which after two months, disappeared entirely! missing cashback claim was raised in Feb, which has only just now come back, with retailer declining the claim, on not following terms and conditions. hopefully quidco will chase this up again, as at no point did my application need completing offline. banking, foolishly, on receiving this cashback to cover the 123 account fees, i've now been left short. my advice would be to click through with trepidation
Best interest rate out there
user836521
(See all their reviews)
(See all their reviews)
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2 months ago
After initially being declined quidco got in touch with them and all was well and have finally been paid. Account is one of the best out there giving a huge 3%. Also an extra £45 quidco. Did have to wait a long time for it though but got there in the end.
Got it in the end
ItsGP
(See all their reviews)
(See all their reviews)
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2 months ago
First off the product is great.
Secondly, Santander did everything they could to not pay the cashback. The transaction didn't track so I had to file a claim. They then decided to decline that on the basis that 'the conditions hadn't been met.'
Unfortunately for them I'd kept a record of everything and gave the lot to the Quidcare team, when I hit the Alert button, and they did the rest. Still took 5 months though.
Good bank, decent product BUT don't count on the cashback - it doesn't track
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3 months ago
Don't get deceived by their high cashback. They neither track it nor pay it (well, i'm waiting since 4 months now and it still hasn't tracked, never know). They will find faults with your application and then ask you to take some form of ID to their branch - that's it - now your cashback is void (read the small print) !!
I have had another account with them for almost two years and also my ISA is with them. When applied for this one, they still asked me to go and submit an ID at a branch. When i challenged by online form, they dropped the request and opened my account online without going to the branch.
They say it takes a few months to track but by then you are now beyond your limit to raise a claim or to cancel the account. Very frustrating.
Their customer service is great though. Never had any other problems and if any minor issues, their CS attend it immediate and resolve it to your satisfaction. Great bank (minus this cashback deceiver of course!).
UPDATE: GOT A DECLINED MESSAGE FOR CLAIM WITHOUT ANY APPARENT REASON!! Quidco then followed up and finally got it sorted. Thanks to quidco team. I would rather avoid such a battle though and frustration.
waste of time and effort
ladams8911
(See all their reviews)
(See all their reviews)
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3 months ago
started in september with this thinking it was good. pfffft!!!! what was i thinking. It never tracked originally, had to raise a claim. raised the claim and was declined because apparently i never met the criteria. yet I did, every single one of them.
FINALLY it has been approved after 6 months. woopppeeeee..... not!!!!!
Best advice I can give: Save your time for something else and actually benefit from it
Be warned! Cashback tracking/payment issues!
wackorash84
(See all their reviews)
(See all their reviews)
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3 months ago
I followed the T&C's very carefully. The cashback was tracked within 24 hours at £60. However, within the next 3 months the cashback tracking suddenly disappeared. It was not very easy to open a cashback claim as there's were issues doing so via the standard process on Quidco. Finally, I managed to open a query to Quidco who chased Santander and a few weeks later claimed that Santander rejected the cashback request for some reason or another.
However, without much prompt, I got another email from Quidco the next week stating they weren't too happy with the reason Santander stated in rejecting my claim and duly informed me that they were contacting Santander for further information. At this point I've written off the Santander cashback but to my surprise Quidco came back a few weeks later and confirm that Santander has now confirmed by cashback claim and I would be receiving the cashback shortly.
A big round of applause to Quidco for taking the effort and chasing this for me in the end. I have not received the cashback. So success in the end for being persistent.
It seems that a few people has submitted reviews about issues similar to what I've gone through. In conclusion, be warned that Santander seems to have a tendency in rejecting cashbacks on the 123 Current Account applications made through Quidco!
santander 123
tonycrockett
(See all their reviews)
(See all their reviews)
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3 months ago
took an age to track and had to make a claim before it was confirmed.... about 5 months from purchase to confirmation .
Tracked fine but then disappeared.
mathewieee
(See all their reviews)
(See all their reviews)
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3 months ago
Tracked fine but then disappeared. Have now made a missing cashback claim. Santander are a disgrace to Quidco. Clearly I did nothing wrong as I followed all T&Cs and the cashback tracked fine for around a week before disappearing.
Had to fight for cash back
user884792
(See all their reviews)
(See all their reviews)
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3 months ago
Opened a 123 a/c and used it as my main a/c. Cash backed tracked at £0, which I'm told is normal and then disappeared. V difficult to raise a claim as ostensibly outside deadline. Lengthy wait and then Santander declined. Quidco took up the fight (unprompted) on my behalf and I'll finally get the cashback I'm entitled to.
Overall, it seems Santander do their best to get out of paying.
Do not be drawn in by the 'claim' of cash-back!
rich2568
(See all their reviews)
(See all their reviews)
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3 months ago
Watch out guys and girls!!!
Mine was declined- until I dug a bit deeper!! They should never had declined mine in the first place!!
Now they have coughed up- clearly they didn`t want to!!
Steer clear I say!!
Got there in the end!
paulmorris
(See all their reviews)
(See all their reviews)
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3 months ago
Over 5 months later, Santander declining the cashback and me re-opening the claim. Quidco investigated and sorted everything out. Logging on today, my cashback is confirmed. Thanks Quidco!
Don't do it
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4 months ago
cashback does not track (see other review) Santander then dispute appeal and do not pay. Very poor.
I am now going to close my Santander account
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