Santander issues urgent message to account holders
manchestereveningnews.co.ukBanking giant Santander has said that it has made the “difficult decision” to hike the monthly fee on its 123 Lite account from October, as well as changing some cashback rules around its accounts.The bank said the cost of providing cashback has increased significantly since it was first introduced in 2012 and the Covid-19 pandemic, historically low interest rates and regulatory changes have affected the banking industry.From October 27, Santander will change the cashback categories on its 123, 123 Lite, Private and Select current accounts.The accounts enable customers to receive different levels of cashback on their regular household bills.Under the changes, customers will receive 1% cashback on their communications bills, including phone,.
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