Update! Santander First Home Saver Account: 5% on up to 50k savings (up to 35 only)

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Comments

  • donkingkong
    donkingkong Posts: 123 Forumite
    Does interest on money contribute towards the 50k limit on this account or is the 50k limit for money actually paid in?
  • CLONNEN
    CLONNEN Posts: 109 Forumite
    For paying the standing order from a non-Santander account use Sort Code 090000 Account No. 00050005 and use your Reference No (appears on your paperwork as account number). It consists of a letter of the alphabet followed by 8 digits followed by the first three letters of your surname. eg. If you are called John Smith you might have reference R12345678SMI

    Hope this helps!
  • CLONNEN
    CLONNEN Posts: 109 Forumite
    Sorry the above info only relates to the Super Fixed Rate Monthly Saver of theirs I think.
  • donkingkong
    donkingkong Posts: 123 Forumite
    donkingkong wrote: »
    Does interest on money contribute towards the 50k limit on this account or is the 50k limit for money actually paid in?

    Any have any ideas on this one. Just wondering if the account "matures" as soon as it hits £50k or if you can no longer pay in money but the capital continues to earn interest.
  • BALLY
    BALLY Posts: 2 Newbie
    I work for santander and i opened one of these the other day with 5k and 300 SO, the terms on the 2nd page it just says they have the right to close the account if you overfund the account.

    To my knowlage you cannot add it to ur onnline banking, branch tried, i also called up IBanking team, they couldnt then I tried myself in work and I couldnt add it! :(
  • amictus
    amictus Posts: 301 Forumite
    Just thought I'd post an update. I transferred an additional £5000 into my account last month, and confirmed in my local branch that my account was still operating. They were unable to give me any information about interest reverting back to the higher 5% rate, saying that it was all calculated automatically at the end of the financial year. So... fingers crossed until then I guess!
  • Essex123
    Essex123 Posts: 150 Forumite
    First Post First Anniversary Combo Breaker
    If they don't close the account, they have to pay you 5% per the terms of the account :)
  • pazza2000
    pazza2000 Posts: 558 Forumite
    Essex123 wrote: »
    If they don't close the account, they have to pay you 5% per the terms of the account :)


    Any update on the above??

    I am keen to 'over pay' although i am concerned my account will be cancelled and £300pm @ 5% is better than nothing.
  • xiox
    xiox Posts: 77 Forumite
    First Anniversary Combo Breaker
    I see they ask for the standing order to be between the 2nd and 21st of the month. I wonder whether the overpayment would have to be payed in by the 21st, or whether this is just to ensure that any S/O is payed in during the month when there are several bank holidays near the end of a month.
  • pazza2000
    pazza2000 Posts: 558 Forumite
    pazza2000 wrote: »
    Any update on the above??

    I am keen to 'over pay' although i am concerned my account will be cancelled and £300pm @ 5% is better than nothing.


    Any update with this... still none the wiser. Would love to over pay although don't want to forfeit the 5% for the rest, or even worst, the entire year
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