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

Wings_of_Ambition

Thanks to whoever put together the spreadsheet. My interest was 4p out... don't think I'll challenge that

donkingkong

Wings_of_Ambition wrote: »

Thanks to whoever put together the spreadsheet. My interest was 4p out... don't think I'll challenge that

Terrible, Santander are rubbish :mad: 4p!!! the thiefs! that is your money not their. Tax the bankers more! Tax the bankers.

luuanhtuhp90

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mr_fishbulb

It may be spam, but at least I learnt something

chaotic_j

Hi,

I currently receive my statements quarterly, that is March, June, September and December each year.

I was wondering how frequently other people receive theirs and whether it might be possible to receive a statement monthly?

Many thanks in advance.

afmfifgh

Just to let people know that the account ('First Home Saver Special Issue 1', not 'First Home Saver') is still paying 5% as of 05/06/2012.

Page 10 of 13 about half way down, Rates correct as of 5th June 2012:

http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223423085274&cachecontrol=immediate&ssbinary=true&maxage=3600

For the above poster, I get my statements every quarter. Not sure if another option is available but I doubt it tbh.

Eponym

I get mine quarterly too.

pazza2000

Yes Quarterly. By my calculations my Interest is wrong by -£34, Santander disagree. What is the spreadsheet being used to calculate? I suppose I have made this hard for myself by paying in different amount every month (between £100-£300 of course).

7sefton

Although this is a great-paying account, I have had nothing but trouble from Santander from the the moment I tried to open it. If it didn't still pay 5% I'd switch to another provider.

However, I am really worried that the interest I've been paid is incorrect. Stories from other members on this thread about wrong interest has made me lose even more confidence in them.

Can anyone please tell me how I can calculate how much interest I should have been paid? Unfortunately I've varied the payments each month, which might may things more complicated... Or can I just go into a branch, claim the interest is wrong and then ask them to re-check?

Any advice would be much appreciated.

beefturnmail

7sefton wrote: »

Can anyone please tell me how I can calculate how much interest I should have been paid?

Another user posted a link to a spreadsheet to calculate this (pg 14 of this thread). I've not used it personally but I think it allows for varied payments etc.

7sefton wrote: »

Or can I just go into a branch, claim the interest is wrong and then ask them to re-check?

Assuming that the interest is wrong, I doubt this would work as this would require branch staff having a clue what the product is. They'll probably think it's a similarly named product which pays 0.1% interest, and try to get you to move the money to one of their bog-standard 3% type accounts.

You could try phoning and/or writing to the complaints department but prepare to to be led down the garden path by staff who haven't got a clue/just try to fob you off.

The only way I (and I think others) have got it corrected is by going to the top and e-mailing the CEO (I didn't even get it corrected last time, but I was paid off by an amount which wa substantially more than the loss of interest)