Santander has officially ceased its popular 123 Lite current account as of today, leaving customers without the cashback benefits they previously enjoyed. The account, launched in 2016, offered 3% cashback on household bills for a £2 monthly fee, including a specific 3% cashback on gas and electricity bills.
Existing 123 Lite customers are being automatically transferred to Santander's Everyday current account, which provides no interest on balances and no cashback rewards. Santander stated that the decision follows a review of the product, which was last available to new customers in November 2022, and is part of an effort to simplify its product range.
In addition, Santander will remove the 1% cashback on supermarket, fuel, and travel purchases from its Santander Edge current account from September 9, 2025. However, the 1% cashback on bills will remain for this account, which carries a £3 monthly fee (£36 annually).
For customers seeking alternative cashback options, several competitors offer similar benefits. JP Morgan's digital bank Chase provides 1% cashback on groceries, travel, and fuel up to £15 per month. Nationwide's FlexDirect account offers 1% monthly cashback on debit card spending up to £5 a month, along with 5% interest on balances up to £1,500 for the first year (dropping to 1% after). Zopa Bank's current account pays 2% cashback on up to £1,500 of bill direct debits per year, fixed for 12 months, and also offers 2% interest on cash balances with no limit.
