What happens to my 123 mini account when I turn 18?

If the trust status isn’t removed by the time the young person is 18, the interest rate on the account will change to 0.10% AER/gross (variable), unless we notify you otherwise.

What is the difference between Santander 123 and 123 Lite?

What are the main differences between the 123 and 123 Lite accounts? You earn the same rates of cashback with both the full 123 account and the 123 Lite account. The big difference between the two is that you don’t get any interest on the balance in your account with the 123 Lite account.

How much can you withdraw from Santander 123 account?

You can withdraw cash up to £250 a day, seven days a week, from any cash machine that has a LINK symbol. Your Personal Identification Number (PIN) will be issued to you and will enable you to use this service.

How do I know if I have a 123 world account?

If you hold one of the following products you’re part of 1|2|3 World. If you hold a 1|2|3 Graduate or 1|2|3 Postgraduate Current Account or a 1|2|3 Credit Card (including additional card holders), you are also a 1|2|3 World customer.

Is Santander 123 MINI good?

Our verdict. The main issue with Santander’s child accounts is the almost complete lack of savings accounts. However, the 123 Mini Current Account is solid. It gets points for its interest rate, for letting you open an account for a kid of any age, as well as for letting you choose between a debit card and a cash card.

What can you do with a 123 mini account?

You can use a cash card to withdraw money from cash machines and check your balance. In addition to the facilities of a cash card, you can also pay for items in shops, over the phone and online. The rate we pay on the balance in your account to help your money grow.

Can I change my Santander 123 account to a Lite account online?

You can change from the 123 account to the 123 Lite account online, and MoneySavers on the forum, Facebook and Twitter have reported that you can also do it in branch and over the phone. If I downgrade to Santander 123 Lite, can I keep my account number and sort code?

Which bank is best for current accounts?

Best Banks for Current Account

What is the interest rate on a Santander 123 account?

What’s changing on the Santander 123 account? From 12th April 2021, the interest rate on savings will drop from 0.6% to 0.3%. A year ago it was offering 1.5%, before a cut in May 2020 to 1% and then dropping to the current rate last August. However, the fee is also dropping, from £5 a month to £4 a month.

Is Santander going bust?

Santander is to close 111 branches – around 20% of its 563 UK branches – by the end of August, with the bank blaming the move on customers increasingly banking online.

Does Santander 123 account include travel insurance?

If you hold a Santander 123 Current Account or 123 Credit Card you will benefit from a 30% discount. This includes Annual cover or Single trip cover for you and your family.

Can You Keep Your Santander 123 credit card?

Santander says you can keep your 123 credit card if you move to the 123 Lite account or if you close your 123 current account altogether. However, it’s worth noting you may be able to earn more cashback with a fee-free card such as the American Express Platinum Everyday – see Credit Card Rewards for full info.

Do you have to have a Santander Credit card to use 1 you 2-3 World?

If you hold a 1|2|3 Graduate or 1|2|3 Postgraduate Current Account or a 1|2|3 Credit Card (including additional card holders), you are also a 1|2|3 World customer. These products are no longer on sale. Santander Select and Santander Private customers have access to 1|2|3 World offers.

What’s the interest rate on Santander 123 Business account?

Santander’s 123 business account, available to UK-registered businesses, will continue to pay the same tiered cashback, give 0.1% interest on any credit balance and charge the same up-to-£12.50/mth fee. But it’s increasing the interest rate on arranged overdrafts to 10% EAR from 6 April 2020.

How many current accounts can you have with Santander?

You may only hold a maximum of two 1|2|3 Current Accounts, one in your own name and one in joint names. Retailer Offers makes it easier to earn a little extra from a variety of Retailers.