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

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Comments

  • atypical
    atypical Posts: 1,342 Forumite
    MOPI wrote: »
    Hi was just wondering how you actually overpay this account? Do I need the sort code and account number of the first home saver or do I need to amend the standing order?
    You can do it either way. Sending a one-off payment is probably the easiest way. You must already have the sort code and account number if you've set up a standing order.
  • ldpe
    ldpe Posts: 2 Newbie
    Is Santander safe for large investments or is it in trouble?
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    First Post First Anniversary
    ldpe wrote: »
    Is Santander safe for large investments or is it in trouble?

    They are protected up to £85k.

    Can you put an approximate figure on "large"?
  • ldpe
    ldpe Posts: 2 Newbie
    Hi, Is santander bank safe for large investments?
  • MOPI
    MOPI Posts: 199 Forumite
    First Anniversary Combo Breaker First Post
    Hi I was going to transfer additional money into my First Home Saver account however when I have looked at all correspondence for this account it does not list a sort code but has an account number begining with the letter 'K'?

    What details do I input when making a bill payment to this account?


    Thanks in advance!
  • ses6jwg
    ses6jwg Posts: 5,381 Forumite
    First Anniversary First Post Combo Breaker
    MOPI wrote: »
    Hi I was going to transfer additional money into my First Home Saver account however when I have looked at all correspondence for this account it does not list a sort code but has an account number begining with the letter 'K'?

    What details do I input when making a bill payment to this account?


    Thanks in advance!

    Sort code - 09 00 00

    Account number - 00050005

    Reference is the "K" number followed by your surcode (first 3 letters of surname)
  • freebeer
    freebeer Posts: 13 Forumite
    Hi,

    Has anyone recently overpaid into this account? I was thinking about paying in £20k at the end of next month so I'd get the 0.1% penalty only for a few days before it reverts to 5%, but I don't want to rock the boat too much as they don't offer this account anymore...
  • stluke023
    stluke023 Posts: 322 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    MOPI wrote: »
    Hi I have also been told by Santander via their secure message on the online banking system that my account now pays 0.1% because I have held the account for over 12 months.

    I have informed them that this information was not contained within any of the literature I received when opening the account, also I have directed them to their own website, whcih also does not state the 5% variable rate is for only 12 months. We shall wait and see their reply!

    Can someone in the know qualify what interest rate is after 12 months
  • stluke023
    stluke023 Posts: 322 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    I have rung Santander and they inform me that the account is getting 0% interest after a year
  • MoneysavingSam
    MoneysavingSam Posts: 12 Forumite
    First Anniversary First Post Combo Breaker
    If you read above you will see as of the end of October this account was still paying 5% (I would quote the post but as a new user I cannot post links)

    It is not paying 0% after one year ignore anything scamtander tells you over the phone, I believe they are required to notify account holders if the rate changes & this would most likely be via post. The rate probably will drop soon ish but not to 0% (touch wood)
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