A year ago Santander 123 halved its interest to 1.5% – now most should consider ditching it
Update Note: 12/12/2017. I wrote this blog just before November’s base rate rise, predicting then UK rates would rise and Santander 123 wouldn’t follow. Well UK rates did rise, and Santander’s confirmed it won’t follow. So everything below still stands. Some of the alternative accounts and rates have shifted slightly, but most are pretty similar – just click...
Santander 123 rate’s dropping to 1.5% – should you ditch it?
This Tuesday 1 November, Santander 123 – the bank account that’s topped savings tables for over four years – will take a hammer to the interest it pays. It’s cutting its main interest rate from 3% to 1.5%, the one that applies to savings up to £20,000. So the key question for the four million people who...
If Santander 123 drops interest to 2% is it still worth it?
Update, 1 November: Santander has now slashed the headline rate paid from 3% to 1.5%. Read my Santander 123 slashed – should you ditch it? analysis for what to do if you’re one of its customers. The Santander 123 bank account has been my and this site’s top savings pick for four years. It pays 3% interest if...
Santander 123 is now 3% TAX-FREE for most – is the £5/mth fee worth it?
Update June 2016: This was written in April 2016. We’ve updated the products mentioned here, but Martin’s analysis still stands – the MSE team. Santander 123 is the UK’s most switched to bank account – due to the high interest paid on savings, and cashback given on bills. And from tomorrow, it’ll become even more attractive as...
Santander 123 fee’s more than doubling – should you ditch it?
'Greed, pure greed!' Last September when Santander announced it would hike the fee on its hugely popular 123 account, many glued the horns of Beelzebub on it. Now the dust has settled, and the fee hike is nearly here – it hits next Monday 11 January – I want to do an updated number crunch to answer the most common question I'm getting, "Should I ditch it?"
Latest MoneySaving Tips
-
The Great Broadband Rip-OffAre you overpaying?
-
Huawei phone?Your rights after Android software's restricted
-
FREE £175 for switching bankBiggest upfront bonus
-
Martin - Beat holiday car hire cowboysPay just £3/day
-
Cheapest Big 6 energy deal in 1yrSave £330/yr
-
Blag free posh hotels on stopoversLots of airlines do it
-
Booking with Thomas Cook, Tui etc?How to stay protected
-
10p/L off Sainsbury's petrolHow to do it
-
£2.50 for a cinema ticketPlus two bags of sweets
-
Don't pay to reclaim payday loan costsDIY for FREE
-
Revealed: Littlewoods' trickGet the same stuff up to a third cheaper
-
A request from Martin...Help prevent debt suicide
Recent Blogs
-
Do I need to show my boarding pass at airport shops? (video & guide)
9 April 2019
It’s one of those niggling frustrations. You want to buy something at the airport and you’re badgered for your boarding pass in order to purchase. Many people ask me if they need to bother, so here’s my quick video answer… Some frequently asked questions… After I originally posted this video on social media, there were a few...
