Santander 123

[malagabob]

What's the news with the 123 account. Have heard they are reducing their 3% for balances between £3000 and £20000

[ubasses]

Down to 1.5% from November.
http://www.thisismoney.co.uk/money/saving/article-3741090/Santander-slashes-hugely-popular-123-account-rate-1-5.html

[Gizmonster]

.... plus, you get 1.5% irrespective of how much you've got in, up to balances of £20k; whereas before it was tiered from 0-£1k; £1k - £2k and £2k - £3k .....

[fiction-factory]

You should get a letter in the next few days if you have a 123 account. I got my letter yesterday

[jennyjoan]

I got my letter but didn't read it thoroughly - is it any good keeping your cuppla shillings in this account or are there better out there.

[fiction-factory]

This is probably the best summary of the situation, JJ- Martin Lewis's blog
http://blog.moneysavingexpert.com/2016/08/14/santander-123-slash-interest-1-5-ditch/

[jennyjoan]

good link Fiction and had read another link - makes good reading. Did think to myself I won't be doing anything about it as 1.5% is probably a good deal compared with the other banks.