Santander have announced that the monthly account fee on their 123 account will rise from £2/month to £5/month from 11th January 2016 – in short reducing your earned interest by £36/year.

They are still retaining their 3% interest deal on the whole account if you have more than £3k invested and additional cash back on  selected household bills, so still a good deal but it’s an aggressive market at the moment and maybe worth checking accounts for the best deal – try our free comparison page at Profit Mentor – comparison