Monzo vs Santander 1-2-3?


I am a Santander Select Customer (similar to their 1-2-3 account) which offers cashback on bills and balance with an account fee of £5.00 month

does monzo offer anything similar?

I typically get around £23-£26 cashback a month making over £20/m after the account fee.

I like the look of the monzo app … but if it’ll loose me over £250/yr I’m not sure if its worth moving :frowning:

No nothing yet to entice those over with deals such as yours. Keep your eyes peeled though, who knows what’s coming next.

Edit: Hello :wave:


Keep paying your bills using your Santander account and move the rest of your income (or just your your spending money) over to Monzo.

This is what I do.


The current account interest @ 1.5% up to £20K and the payback on utilities bill payments (via direct debits) are pretty compelling. The CA interest is currently market leading.

I’ve kept that for those reasons but Monzo serves as my working account, with salary and a few non-utility DD’s.

1 Like

I converted my Santander 1-2-3 account back down to a regular free account recently. I moved all my bills to Monzo a while back.

The cashback for me was only really covering the cost of the account. Maybe a little extra, but for me I much prefer having the visibility of everything in one place.

And frankly, Santander’s app just isn’t my cup of tea. I don’t think it’s a great UX.


Agreed. Their app is about as old-school as it gets in the current batch of legacy bank offerings.

@chrisduk112 & @Demmedelusive

Other than 1.5% interest on first £20k in current account and cashback on bill payments how good are the perks with Santander Select, in particular priority service?

You can get the same cashback with 123 Mini (only £1/month account fee instead of £5/month) and 1.5% interest can be achieved for free elsewhere (e.g. Marcus by Goldman Sachs).

I’m hoping that with Open Banking Monzo will become not only an AISP but also a PISP so I can still continue to use accounts at other other banks where they benefit me but have Monzo as the only banking app on my phone :wink:

1 Like

I’m not sure there’s anything of any real value beyond what you quote. Some like the idea of having access to some sort of special service spec. In practice, I have no need for their personalised services home or abroad.

Would I use the £1000 daily ATM limit ?
Rarely, if at all.

To be frank, the monthly fee as the same as the 1-2-3 account. So I just upgraded (nothing much on the telly at that point :smirk:).

The account simply sits there - I get my cash back and interest. The active account is Monzo :grinning: