Santander in credit interest- Would this work?

jfke

Hi all,

I'm in the process of shifting my banking operations away from Santander but I intend to keep this account open for the good rate of interest. I am aware, however, that you need to credit this account with 1k a month to enable that interest to be paid. With Santander dragging their heels on Faster Payments this makes my life a bit more difficult and so I devised the following...

I know with Halifax Reward accounts that a withdrawal from the account to another Halifax account and then a transfer back with count as a credit. I hold a basic account with Santander and so if I withdraw 1k chunk of the 2.5k and send it out and back in the same minute. Will this count towards my requirement?

Thanks

partlydave

jfke wrote: »

Hi all,

I'm in the process of shifting my banking operations away from Santander but I intend to keep this account open for the good rate of interest. I am aware, however, that you need to credit this account with 1k a month to enable that interest to be paid. With Santander dragging their heels on Faster Payments this makes my life a bit more difficult and so I devised the following...

I know with Halifax Reward accounts that a withdrawal from the account to another Halifax account and then a transfer back with count as a credit. I hold a basic account with Santander and so if I withdraw 1k chunk of the 2.5k and send it out and back in the same minute. Will this count towards my requirement?



Thanks

Yes, the money can come from anywhere. Keep a strict eye on the interest they pay, theyre famous for being useless

jfke

Cheers,

Yes we had a disagreement last month but they've promised it's fixed now...we'll see!