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

atypical

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

Is Santander safe for large investments or is it in trouble?

Lokolo

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

Hi, Is santander bank safe for large investments?

MOPI

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

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

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

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

I have rung Santander and they inform me that the account is getting 0% interest after a year

MoneysavingSam

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)