The financial institution itself has mentioned there will probably be no adjustments to the cashback advantages offered on Santander’s 1|2|3, Select and Private Current Accounts.
Santander has mentioned clients capable of earn a complete of £180 every year in cashback on their family payments paid via these accounts.
This week, it has been confirmed that there will probably be no change to the month-to-month account feee, which is able to stay at £5 a month – which is able to price the equal of £60 every year.
“You’ll be saying to me, ‘Yeah however I get my cashback from Santander 1|2|3‘. But you pay £5 a month for it,” Mr Lewis mentioned.
“Whereas the Santander 123 Lite gives you the same cashback, you pay £1 a month for it. So drop down to the Lite, move your savings to the top easy access and you’ll be a minimum – probably more – £48 a year better off.”
Santander mentioned the adjustments introduced this week are being made because of the current reductions within the Bank of England Base Rate – which is now at a report low.