Hate Santander but they offer great rates - worth staying?

7sefton

I have just opened a First Home Saver with Santander with an initial deposit of £5000 and a planned monthly contribution of £300, paying 5% gross.

This is, of course, a good deal of the surface. But there's a problem: I simply detest the brand. The customer service in branch and on the phone is woeful to point of being unbelievable, the staff are rude and ignorant of their own products, and I dislike the whole experience of banking with them. I know it might sound silly, but I feel absolutely no connection or affection for Santander and regret putting my savings there. This is worrying me so much that I am considering closing the account and putting the money elsewhere, even though I wont earn anywhere near as much as what Santander pay.

Am I mad? Or is it legitimate, even in these high-inflation times, to sacrifice interest for peace of mind and service?

1echidna

Legitimate to do what you like. I had some hassle with them, couldn't call it incompetence, more jobs worth nonsense but not enough to worry about forgoing an extra hundred or two in interest.

YorkshireBoy

7sefton wrote: »

...I am considering closing the account and putting the money elsewhere, even though I wont earn anywhere near as much as what Santander pay.

Is 4% gross* (LTSB Vantage) "near" enough for you?


* Conditions apply

1echidna

YorkshireBoy wrote: »

Is 4% gross* (LTSB Vantage) "near" enough for you?


* Conditions apply

Perhaps he is already "tanked" up with Lloyds

Consumerist

I think the questions you have to ask yourself are simply - Is the additional interest rate they pay worth the bad service they give? Will the service be much better elswhere?

The answer to those questions should determine your decision.