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  • Jazzy_B
    Jazzy_B Posts: 1,810 Forumite
    Santander 123 current account only gives 3% on sums up to £20,000. Went into branch today. Also the rate is fixed for the life of the account, as I've had mine for nearly a year, and expected rate to drop.
  • innovate
    innovate Posts: 16,217 Forumite
    10,000 Posts Combo Breaker
    Jazzy_B wrote: »
    Santander 123 current account only gives 3% on sums up to £20,000. Went into branch today. Also the rate is fixed for the life of the account, as I've had mine for nearly a year, and expected rate to drop.

    The rate on the 123 isn't fixed. It is variable.
  • Jazzy_B
    Jazzy_B Posts: 1,810 Forumite
    edited 4 January 2013 at 7:55PM
    Thanks, I'll check it out. Branch rep told me it would stay at 3% for account life


    Yes,you're right, innovate
  • I-LOV-MONEY
    I-LOV-MONEY Posts: 1,279 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    innovate wrote: »
    Santander have occasional fits of "extra checks for your own protection". These are bloody annoying, especially if they happen on Friday nights and the protection squad doesn't fire on all cylinders until Monday again.

    However, under the Faster Payment regulations, as long as the money arrives in the target account by end of next working day, we have no complaints that anyone would take serious. So let's just remember that, as recent as 18 months ago, it used to take 3-4 working days for money to arrive the other end. Oh, and that these extra checks are really good for us, honest.....

    That is okay, unless you are wanting to put the money into your bank account to prevent it going overdrawn. When it doesn't arrive, you are in deep-do-doh !!!
    Thank you for reading this message.
  • innovate
    innovate Posts: 16,217 Forumite
    10,000 Posts Combo Breaker
    Transfer it a day before you need the money?

    Pay your bills from the Santander 123 and get cashback, with instant transfer between your accounts, no hold-ups by the "protection squad"?
  • ManAtHome
    ManAtHome Posts: 8,512 Forumite
    Part of the Furniture Combo Breaker
    innovate wrote: »
    The rate on the 123 isn't fixed. It is variable.
    Gonna muck up the account name unless they drop rates to 0.1%, 0.2%, and 0.3% though...

    More seriously, I suspect over time they'll increase the monthly charge and drop the amount they'll pay 3% on - still a long way to go before it's a bad deal for me.
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ManAtHome wrote: »
    Gonna muck up the account name unless they drop rates to 0.1%, 0.2%, and 0.3% though...
    :T :rotfl: :T :rotfl:
  • typistretired
    typistretired Posts: 2,099 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Have received an email during the night from the Coventry stating that the monthly interest on my online saver (2) is dropping
    I am writing to explain that the variable interest rate on your Online Saver (2) – Monthly account will reduce from 3.11% to 2.72% gross p.a. from 1 February 2013. Your 1.15% AER first year bonus continues to apply.
    Your new monthly interest rate is shown below:
    £1 to £250.000 2.72% per annum 2.18% AER
    They also stated that on expiry of my first year bonus they will give me a bonus of 0.98% until 28th February 2014 so I will earn 1.98% from my first anniversary.
    "Look after your pennies and your pounds will look after themselves"
  • I-LOV-MONEY
    I-LOV-MONEY Posts: 1,279 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    Don't hold your breath on Post Office Savings. It is NOT instant. It takes at least 3 days for funds to arrive in your account and probably as long (not tried it yet) to take it out. When I enquired with them, about the Faster Payments scheme, she said they were using it.

    Not wishing to offend anybody, but I believe they are based in Ireland !
    Thank you for reading this message.
  • 10_66
    10_66 Posts: 3,452 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 9 January 2013 at 8:16PM
    typistretired wrote: »
    Have received an email during the night from the Coventry stating that the monthly interest on my online saver (2) is dropping

    Had a letter from them today stating the same. Fed up about it, but I suppose it was to be expected. I've got a Santander esaver (issue 5) which I haven't used and it expires in June, I'd like to think will stay at 3.20% until then, but again, I won't hold my breath :(. Anyway, I'll be transferring the proceeds from Coventry into the Santander account as long as it doesn't drop before February (Coventry's reduction date).
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