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SANTANDER 123 CURRENT ACCOUNT
Santander 123 Current Account (Current Account)
        
The123 Current Account, pays in-credit interest on a customers total balance of up to 3% once they have more than £1,000 in their account, up to a maximum balance of £20,000. This is makes life easier for customers, by making the need to continually move money between savings and current accounts less important. The 123 account also puts real money back in customers pockets by paying cashback on gas, electricity, water, council tax and communications direct debits set up on a customers account all for a monthly fee of just £2.
Location: UK
Account Name: 123 Current Account
Advantages:
1. 1.00% AER/gross (variable) on your entire balance, once your balance is £1,000 or over.
2. 2.00% AER/1.98% gross (variable) on your entire balance, once your balance is £2,000 or over.
3. 3.00% AER/2.96% gross (variable) on your entire balance, once your balance is £3,000 or over (up to a maximum of £20,000).
Disadvantages:
1. A minimum balance of £1,000 is required to receive interest.
2. You must set up a minimum of two Direct Debits. To benefit from cashback, household bills must be paid by Direct Debit.
3. No Daily Arranged Overdraft Fee for the first four months. Then £1 each day capped at 20 days in each monthly statement period
Services:
123 Current Account pays cashback on household direct debits
1. 1% cashback on water and council tax
2. 2% cashback on electricity and gas
3. 3% cashback on mobile, home phone, broadband and paid for TV packages
New 123 Current Account also pays in-credit interest
1. 1% AER on the entire balance, once the customerís balance is £1,000 or over
2. 2% AER on the entire balance, once the customerís balance is £2,000 or over
3. 3% AER on the entire balance, once the customerís balance is £3,000 or over (up to £20,000)

Interest AER: 0 - 3% p.a.Interest Gross: 0%
Interest Paid: MonthlyMinimum Income: Minimum of £500 per month funded to account
Overdraft Rate: £0 (4 months) £1 each day capped at 20 days a month thereafter
Banking Charges: Ask on application
Service Charges: £2
Account Access: Online, branch
Withdrawal Access: Anytime

Free Banking: NoDebit Card: Yes
Cheque Guarantee Card: NoStanding Orders: Yes
Direct Debits: YesOverdraft Facility: Yes
Account Manager: No

Conditions:
18 or over, minimum of £500 deposited per month
Features:
Additional features
1. A free Arranged Overdraft for 4 months when you switch to us using our dedicated switcher service (depending on circumstances) see representative example.
2. Visa debit card* a quick & secure method of purchasing goods & services at home and abroad.
Introductions and Offers:
1. 1% Interest on balances over £1,000
2. 2% Interest on balances over £2,000
3. 3% Interest on balances over £3,000(up to a maximum of £20,000)
Terms and Conditions:
1. The £2 monthly account fee will be taken automatically from your account each month even if you don't qualify for the cashback/interest benefits in a specific month.
2. You must pay a minimum of £500 into your account each month.
3. Cashback can only be earned through Direct Debit payments within the categories to companies categorised as water, electricity, gas or communications suppliers or as council tax issuing institutions in the Santander 123 Current Account Eligible Originators Classification Listing ©, which contains all major providers.
        
REVIEWS
Santander 123 Current Account (Which Way To Pay - 21/2/2014)
Santander 123 Current Account is ranked 4 out of 5. Based on 1 review.

4 Star Rating

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