Santander, how many current accounts?

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  • exel1966
    exel1966 Posts: 4,978 Forumite
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    The funding requirement is £1K per 30 days, not £1.5K per month, there is a very distinct difference.

    As I see it you applied for an account on the 25th, therefore that's the date mark to be used which Santander are obviously doing. They may as a gesture of goodwill pay you the interest, but I can't see that they've done anything wrong.
  • adindas
    adindas Posts: 6,813 Forumite
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    Yes 1k each month. According to their T&C it needs to come from external Santander. I used to just do internal transfer from internal and still got 5% but after knowing that it is not allowed I stop doing that.

    ADINDAS
    exel1966 wrote: »
    The funding requirement is £1K per 30 days, not £1.5K per month, there is a very distinct difference.

    As I see it you applied for an account on the 25th, therefore that's the date mark to be used which Santander are obviously doing. They may as a gesture of goodwill pay you the interest, but I can't see that they've done anything wrong.
  • adindas
    adindas Posts: 6,813 Forumite
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    It depends on the date when they pay the interest not, when the a/c is open.

    "Note 2: You must make the minimum monthly payment within certain dates each month to qualify for a preferential rate. These dates are different for each customer and we decide on them depending on when we pay the interest. For example, if we pay your interest on the 7th of the month, you must pay money into your account between the 7th of this month and the 6th of the next month. Please see your current account statement or visit online banking to find out which date we will pay your interest"
    td_007 wrote: »
    It needs from an external a/c. Also, the £1K needs to hit the a/c monthly based on the a/c opening date e.g. if your a/c was opened on the the 15th June then the next month's £1K needs to hit between 15July-14Aug. If you get it in for eg on 12th of July then it does not count. The only current a/c that I know which has this stupid rule:mad:
  • exel1966
    exel1966 Posts: 4,978 Forumite
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    I've earlier today opened my 2nd preferred account which was showing online within 15 minutes and tracked on TCB within 2 hours so that's another easy £55.55p and a 5% account !
  • anselld
    anselld Posts: 8,281 Forumite
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    exel1966 wrote: »
    I've earlier today opened my 2nd preferred account which was showing online within 15 minutes and tracked on TCB within 2 hours so that's another easy £55.55p and a 5% account !

    Good luck! That is twice the chance of Satander screwing up your finances / credit record.
  • exel1966
    exel1966 Posts: 4,978 Forumite
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    I won't be needing luck, I'm wise to the pitfalls and stay one step ahead by using my accounts wisely and safely.

    It seems to me that many of the problems encountered by people here could have easily been avoided if they'd been more responsible in the way they operate their accounts or took a little time to understand how accounts sometimes operate. Santander are not blame free, but nor is the customer in many cases. As for the stories posted here, well some are truly unbelievable !!
  • anselld
    anselld Posts: 8,281 Forumite
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    Brave ... or foolish ?... only time will tell!
  • td_007
    td_007 Posts: 1,212 Forumite
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    exel1966 wrote: »
    I've earlier today opened my 2nd preferred account which was showing online within 15 minutes and tracked on TCB within 2 hours so that's another easy £55.55p and a 5% account !

    I am still waiting to open the bubbly for TCB cashback for a Santander pref a/c that I opened in Jan:mad:. It tracked as expected but earlier this month it was declined. TCB have opened a ticket but the minimum wait before an update is 2-3 months....the only positive is I am getting the 5% interest each month.
  • danr10
    danr10 Posts: 7 Forumite
    edited 12 August 2011 at 2:31AM
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    so you can't you just put £1k in, drawn the money out as cash over 4 days, then put it back in within 30 days?

    I'm still tempted by (go on moneysupermarket.com and then bank accounts it's the £100 + 25 voucher intro offer + 5% looks good :) I can't add links
    as I get paid into my bank account each month anyway and I need to change my rubish natwest account
  • 10_66
    10_66 Posts: 3,269 Forumite
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    edited 12 August 2011 at 10:46AM
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    td_007 wrote: »
    It needs from an external a/c. ...

    When you say external account, does it count if the £1K is transferred between my Santander Preferred Account and OH's Preferred Account, or does it have to come from a completely different bank? I can't see where it states that it must come from an external bank, all I can find is they say you must "pay at least £1,000 into your account each month".

    Edit: I've just contacted Santander, who say that it doesn't matter if the funds come from another Santander account. Although I know that what their staff tell you isn't always accurate.


    ..........
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