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  • FIRST POST
    • Westie983
    • By Westie983 15th Mar 17, 7:05 PM
    • 3,759Posts
    • 13,797Thanks
    Westie983
    Maturing Santander Monthly Saver
    • #1
    • 15th Mar 17, 7:05 PM
    Maturing Santander Monthly Saver 15th Mar 17 at 7:05 PM
    Hi All,

    Today my Santander account has matured into a everyday saver and the rate dropped to 0.10% as expected, but no interest has been added.

    I have a deja vu of the problems Nationwide had last Christmas when the first batch of maturing accounts had a blip and no interest was added for weeks.

    Any one else had this problem?

    I am currently on hold to them to find out if it is a known issue.

    Westie983
    Save 12k in 2017 #16 Total £18,855/£12,000 157.12%
    Sealed Pot Challenge ~ 10 #97 Total (£252) +£158/£500 = 82.00% ( x 10)
    Xmas 2017 £1 a Day #6 Total £300/£365 = 82.19%
    Virtual Sealed Pot #1 Total £1,200/£1,000 = 120.00%
    £2 Savers Club 2017 #3 Total (£1,450)+£50/£2,000 = 75.00%

    Total £22,265/£15,865 = 140.34%

    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
Page 2
    • Hattie625
    • By Hattie625 16th Mar 17, 3:02 PM
    • 542 Posts
    • 399 Thanks
    Hattie625
    I wished I had gone for this when it was 5% last year - I think I may have been put off by the smaller max monthly deposits.

    Was it fixed for 12 months?

    Might go for their 3% one.
    Originally posted by No_Name
    No, it was 5% variable, but (to their credit) Santander have kept it at 5% for those who took out Issue 1.

    Mine matures on 18 March, which is Saturday. Wonder when I will get my interest?
    Last edited by Hattie625; 16-03-2017 at 3:55 PM.
    • badger09
    • By badger09 16th Mar 17, 6:23 PM
    • 5,112 Posts
    • 4,325 Thanks
    badger09
    No, I have left 0.01 in it, and will close the next time I am passing a Santander, no drama...

    Westie983
    Originally posted by Westie983
    I've left 0.00 in mine. I was surprised it let me empty it completely.


    To close your account, message them with the acct number to be closed, as well as the Santander account you want to have any interest to be paid into

    Originally posted by colsten
    Thanks colsten, that's really useful.

    I have another old Everyday Saver account that's had about £7 in it for several years In December, they threatened to close on 1 March it if I didn't use it. Fine, with me, but they still haven't closed it. So I also emptied that completely this morning and now, with your help, will close both. That's 2 fewer accounts to monitor
    • AndyPK
    • By AndyPK 16th Mar 17, 6:50 PM
    • 2,211 Posts
    • 572 Thanks
    AndyPK
    I noticed mine was coming to an end and noted they had not sent one email or letter to let me know. (unlike TSB where I had 2 letters)
    Originally posted by AndyPK

    Ok. I had a letter today
    • Ashen
    • By Ashen 16th Mar 17, 7:00 PM
    • 372 Posts
    • 234 Thanks
    Ashen
    I've left 0.00 in mine. I was surprised it let me empty it completely.
    Originally posted by badger09
    I looked at the product info before moving it out, and it said minimum balance of £1, so left it with that in. I guess I'll move that solitary pound next time I'm logged in...
    • Frogletina
    • By Frogletina 18th Mar 17, 7:55 AM
    • 2,862 Posts
    • 10,347 Thanks
    Frogletina
    I've moved the £2400 to my 123 account - I didn't leave anything in the everyday saver account, just hoping my interest goes in ok and then I will close it
    Not Rachmaninov
    But Nyman
    The heart asks for pleasure first

    SPC 8 #441 £1567.31 SPC 9 #441 £1014.64
    • Hattie625
    • By Hattie625 19th Mar 17, 10:35 AM
    • 542 Posts
    • 399 Thanks
    Hattie625
    Just to update my experience of the Santander Regular E Saver maturity process....

    I opened my 5% Issue 1 Regular E Saver in branch on 18 March 2016. I paid in £200 from my Santander 123 current account on each 18th of the month (or first banking day thereafter) from March 2016 to February 2017.

    Yesterday (Saturday 18 March 2017) my account changed online to "Everyday Saver". I moved the balance of £2400 out via online banking to my 123 current account (and from there, elsewhere, as I have £20K already in my 123 current account), leaving a nil balance in the Everyday Saver.

    Today (Sunday 19 March) interest of £64.38 has appeared in my Everyday Saver, but it is dated 20 March (tomorrow). Nevertheless, I have been able to move this out via onlinre banking to my 123 current account today, leaving nil balance in the Everyday Saver.

    Meantime I was able yesterday (18 March) to open online a new Regular E Saver-it is now Issue 4 paying 3% variable. First payment of £200 was transferred in yesterday, with SO set up from 18 April for the next 11 months. It should mature on 18 March 2018, all being well of course.

    Altogether, dealing with the maturity and setting up the new RS has been easy.
    Last edited by Hattie625; 19-03-2017 at 10:39 AM.
    • Frogletina
    • By Frogletina 19th Mar 17, 8:41 PM
    • 2,862 Posts
    • 10,347 Thanks
    Frogletina
    Just to update my experience of the Santander Regular E Saver maturity process....

    I opened my 5% Issue 1 Regular E Saver in branch on 18 March 2016. I paid in £200 from my Santander 123 current account on each 18th of the month (or first banking day thereafter) from March 2016 to February 2017.

    Yesterday (Saturday 18 March 2017) my account changed online to "Everyday Saver". I moved the balance of £2400 out via online banking to my 123 current account (and from there, elsewhere, as I have £20K already in my 123 current account), leaving a nil balance in the Everyday Saver.

    Today (Sunday 19 March) interest of £64.38 has appeared in my Everyday Saver, but it is dated 20 March (tomorrow). Nevertheless, I have been able to move this out via onlinre banking to my 123 current account today, leaving nil balance in the Everyday Saver.

    Meantime I was able yesterday (18 March) to open online a new Regular E Saver-it is now Issue 4 paying 3% variable. First payment of £200 was transferred in yesterday, with SO set up from 18 April for the next 11 months. It should mature on 18 March 2018, all being well of course.

    Altogether, dealing with the maturity and setting up the new RS has been easy.
    Originally posted by Hattie625
    My interest was paid today and totalled £64.05. My first payment was on 21/03/16 - which is probably why I got less interest.

    I'd better add my first payment now to my new account.

    frogletina
    Not Rachmaninov
    But Nyman
    The heart asks for pleasure first

    SPC 8 #441 £1567.31 SPC 9 #441 £1014.64
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