Santander (LSE: BNC) has halved the interest rate on its wildly popular 123 savings account, sending several million UK savers into despair. But will the rate cut be better received by Santander shareholders?

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Owain Bennallack owns shares of Banco Santander SA. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.