Author Topic: Santander 123 account interest rate drop  (Read 2817 times)

0 Members and 1 Guest are viewing this topic.

Offline Karennina

  • Prolific Member
  • *****
  • Posts: 4590
  • Location: United Kingdom
Santander 123 account interest rate drop
« on: October 08, 2016, 19:16:00 PM »
Had a letter to say the Santander 123 account will only be paying 1.5% interest from 1st November gutted, anyone else had the letter if so am i defo reading the changes right please...thanks...



Offline Lotty

  • Sr. Member
  • ****
  • Posts: 2903
  • Location: United Kingdom
Re: Santander 123 account interest rate drop
« Reply #1 on: October 08, 2016, 19:38:46 PM »
Nope, you read it right. Down to 1.5%  :-\

Offline ArtyMar

  • Full Member
  • ***
  • Posts: 560
  • Location: London
  • Make Art not War
Re: Santander 123 account interest rate drop
« Reply #2 on: October 08, 2016, 21:35:02 PM »
AND they are now charging £3 per month for their 123 credit card.

Offline MarKar

  • Full Member
  • ***
  • Posts: 342
  • Newly Registered
Re: Santander 123 account interest rate drop
« Reply #3 on: October 09, 2016, 10:37:55 AM »
Just been trying to sort this out for my mother in law, there really isn't much out there with higher rates,  the best option I could find was to open a regular savers account and fillter as much as it allows each month for the 12 mnth period and then change to another one, (thats the important bit as the rate drops again). Santander do one, I think HSBC do another but if you check Martin lewis money page it gives you upto date rates if you shop around there are some with 5%.

Offline Colwyn

  • Prolific Member
  • *****
  • Posts: 6412
  • Location: Bristol
Re: Santander 123 account interest rate drop
« Reply #4 on: October 09, 2016, 15:41:41 PM »
Even with a monthly fee of £5 and an interest rate of 1.5% (together with cashback on some DDs) it still beats anything else I can find on the High Street. UK banks have long wanted to get customers to accept monthly charges for using a current account. I suspect Santander's £2 for 3% was a sweetener to try to achieve this.

Offline Karennina

  • Prolific Member
  • *****
  • Posts: 4590
  • Location: United Kingdom
Re: Santander 123 account interest rate drop
« Reply #5 on: October 15, 2016, 06:18:05 AM »
And now TSB are following suit and cutting their rate from January on the classic plus current account from 5% to 3. Also the email said if you have more then one account in sole names they may merge the accounts! I guess Tesco will be next...




Share me

Digg  Facebook  SlashDot  Delicious  Technorati  Twitter  Google  Yahoo
Smf