Update! Santander First Home Saver Account: 5% on...

[ses6jwg]

I opened 1 in 2 1/2 years and it was a branch-only account.

I would not expect a CSA in a call centre to know anything about this account.

Yes yes in an ideal world a member of staff should know all their products but if you asked me what the terms and conditions were on an Abbey Platinum Saver account from the year 2002 then I'd have to tell you I'd call you back after digging around in the system archives for 2 hours.

[adonis10]

Now that it's 3%, I shall be using my full isa allowance as my account is currently 3.5% and need to withdraw. It is not online so do I just go in with some ID and ask to withdraw a cheque? Do I need anything else? Also, as the interest is annual, will i face a penalty as it is due in Jan and looking to withdraw today.

[rb10]

Originally Posted by adonis10

Now that it's 3%, I shall be using my full isa allowance as my account is currently 3.5% and need to withdraw. It is not online so do I just go in with some ID and ask to withdraw a cheque? Do I need anything else? Also, as the interest is annual, will i face a penalty as it is due in Jan and looking to withdraw today.

I would take a letter/statement from Santander - they sometimes get funny about people having 'proof of account ownership', even if they have ID that clearly shows who they are.

No penalty for withdrawing early.

They may be able to make a faster payment directly to your ISA, save dealing with a cheque.

[antispam246]

I called the other day and when I told them I wanted to discuss the Home Saver they transferred me to someone who could manage that account.

After asking various questions I was told that yes, despite not receiving any letter about the change, the account had changed to 3%, as of the the date mentioned here. No conditions were mentioned for this despite the above mentioned.

When I asked about it being accessible online. They attempted to see if it was possible to add it online now, which it wasn't. I was then told that;

On the 30th November 2012. The 3% would end and it would change to a normal saving account with a rate of 0.x% At this point by no later than 5pm the account would then be accessible online automatically, and if it wasn't to call back.

[Eponym]

Originally Posted by antispam246

When I asked about it being accessible online. They attempted to see if it was possible to add it online now, which it wasn't. I was then told that;

On the 30th November 2012. The 3% would end and it would change to a normal saving account with a rate of 0.x% At this point by no later than 5pm the account would then be accessible online automatically, and if it wasn't to call back.

They have to give 30 days notice of changes to T&Cs I believe so they would have had to tell us already if that were the case.

[fp04]

Hello Team FHS,

Just to add my voice to the chorus of 'not-online', I called up to try and add it to my online accounts, but it's not possible. Ho hum.

[adonis10]

Originally Posted by Eponym

They have to give 30 days notice of changes to T&Cs I believe so they would have had to tell us already if that were the case.

Anyone know if this is true? Is it going down to <1%?? If so, I'll be whipping out my cash ASAP!

[patrickbateman]

Well I never received a letter explaining the changes to this account either.
I went to my local Santander a few days ago to ask about the account and this is what I have been told.

• The account is no longer available to new customers
• The interest rate is currently less than 0.1%
• Partial withdrawals are not allowed. If i want to take any money out then I need to close the account

My personnal feelings are that the staff dont know because the company is not giving them access to proper information. The staff member I spoke to was pleasant and quite helpful, he managed to print off details of my account balance and my personnal details from there system, but then couldnt actually find any info about this account. He searched for a good 10 mins whilst I was stood waiting.
I can't make a reasonable savings decision because I have received no letter, and I do not believe what I have been told in store.
There is too much misinformation being banded about.

[tobiascurious]

Originally Posted by patrickbateman

[/LIST]My personnal feelings are that the staff dont know because the company is not giving them access to proper information. The staff member I spoke to was pleasant and quite helpful, he managed to print off details of my account balance and my personnal details from there system, but then couldnt actually find any info about this account. He searched for a good 10 mins whilst I was stood waiting.
I can't make a reasonable savings decision because I have received no letter, and I do not believe what I have been told in store.
There is too much misinformation being banded about.

It is a shame that the member of staff could not find the right information, but it's good that he tried. I think you can trust that the letter was correct, and the details of it are shown in this thread.

[someone]

I don't think it helps that there is a home saver special issue 1 and a home saver issue 1 !!!

[beefturnmail]

Hi,

I want to transfer a lump sum back into this account by internet banking but the trouble is, since I cancelled the Standing order I can't find out the sort code and account number. I have found the earlier quote below and was wondering if someone who had the account still set up as a payee could confirm for me whether this is correct? (Thought this would be easier than asking Santander, who probably wouldn't have a clue with this account....)

Thanks

Originally Posted by CLONNEN

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!

[ade1982]

yes, that's correct. It's a generic account code and then the thing that differentiates it is the payee, which is as you stated. I've done it from my Halifax account.

[rb10]

Originally Posted by ade1982

yes, that's correct. It's a generic account code and then the thing that differentiates it is the payee, which is as you stated. I've done it from my Halifax account.

No - it's the reference that identifies your account.

The payee is a different field altogether!

[chaotic_j]

All done and dusted for the time being with this account.. I went into branch today, explained to the chap behind the help desk what I wanted to do.. i.e. transfer whole balance except £1 into my Preferred Current Account; told me he would check the account..

Then proceeded to tell me the rate had actually dropped to 0.1% not 3% - so I told him; you must be looking at the rate for the First Home Saver Issue 1 not First Home Saver Special Issue 1 which is the account I currently hold.

Then he wanted to know why I was after transferring the money out; I said I could get a higher rate elsewhere and he asked where that was and the rate - Lloyds TSB with Vantage - 4%.

Then he tried to make me an appointment to see a "savings advisor" and was telling me I could "invest in some low-risk bonds at 7 or 8%" - I told him thanks but I wasn't interested, I didn't want to tie my savings up and I'd already decided what I wanted to do.

Reluctantly he directed me towards a cashier at the counters as I'd have to do the transfer there. Then when I explained to her she was on about me closing it, but I said I wanted to keep it open, I asked if I could have the interest early which apparently I can't unless I close it.

Then she wanted to know whether she could just leave the pence in instead of a pound why do the banks always think they know best for me?

[Wings of Ambition]

My folks had the same thing when trying to transfer money out of Santander.... constantly trying to get you to do something else. My Dad said he'll never ever use another Santander product because of how utterly difficult the staff were.

[pazza2000]

I would like to transfer an amount into my current account, can they do this by EFT or will I be issued a cheque?

[Eponym]

Originally Posted by pazza2000

I would like to transfer an amount into my current account, can they do this by EFT or will I be issued a cheque?

They did it for me in branch, but my current account is with Santander. Not sure how it works if yours isn't.

[beamer007]

I got same response by secure messaging from Santander.

Even after the change of type, and big drop in the interest rate, you can still only manage this account through a branch, which was annoying.

I visited my local branch yesterday and moved all funds bar £1 to an eSaver account I had with them (which can be operated online). As soon as I got home shifted that out to my current account then onto my Nationwide Mysave Plus account @ 3.12 AER for now (ends mid-February - may well end up going back to this account then, judging by the current saving rates on offer from others - hence the leaving £1 rather than closing this account).

Originally Posted by fp04

Hello Team FHS,

Just to add my voice to the chorus of 'not-online', I called up to try and add it to my online accounts, but it's not possible. Ho hum.

[chamelion]

I'm a little puzzled. Just called up Santander and spoke to a rep who told me I still have my first home regular saver account and as long as I keep depositing via standing order I'll receive interest as before - my account has not been changed to a saver.

Guessing lady on phone had no clue what she was talking about??

[alilel]

Originally Posted by beamer007

Even after the change of type, and big drop in the interest rate, you can still only manage this account through a branch, which was annoying.

I was able to withdraw from my First Home Saver via telephone banking. Not sure if this was only available as I have a current account. The money was available instantly to transfer out the my Lloyds Vantages.