Santander has decided to discontinue its popular bank account, the 123 Lite current account, which offered customers 3% cashback on household bills for a monthly fee of £2. Additionally, customers could earn 3% cashback on gas and electricity bills through this account. Instead, Santander is automatically transferring 123 Lite customers to its Everyday current account, which does not provide any interest on balances or cashback rewards.
The bank explained that the decision to withdraw the 123 Lite account was made to simplify its product range following a review. Furthermore, Santander is also ending the 1% cashback deal on supermarket, fuel, and travel purchases for its Santander Edge current account starting on September 9, 2025. However, the Edge account will maintain its 1% cashback on bills.
For customers disappointed by the changes, there are alternative options available. Chase, a digital bank by JP Morgan, offers 1% cashback on groceries, travel, and fuel purchases up to a maximum of £15 per month. Nationwide’s FlexDirect account provides 1% monthly cashback on debit card spending, capped at £5 per month, along with 5% interest on balances up to £1,500, potentially earning customers £75 annually if the maximum balance is maintained.
Zopa Bank’s new current account offers 2% cashback on bill direct debits up to £1,500 per year, with a fixed rate for 12 months. Additionally, customers can earn 2% interest on cash balances with no earning limit, also with a fixed rate for the first year.
In other news, Santander has introduced a new feature in its OneApp banking app aimed at protecting customers from scammers. This technology automatically blurs the user’s mobile screen when screen sharing is detected, preventing unauthorized access to personal information by scammers who use remote access and screen sharing tactics to obtain sensitive data such as banking credentials.