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

afmfifgh

It would seem the account is not changing as it is not listed. What is listed is the First Home Saver account. That is not the First Home Saver Special Issue 1 account and the interest rates listed would seem to back this up, i.e. it says 0.6% not 3%. Also on the website it states about having to pay in £100 a month which is not the case with Special Issue 1 but is with First Home Saver.

Just as the eSavings (Issue 1) is not the eSavings (Issue 6).

That is how I am interpreting it so I assume the rate is staying at 3% (wishful thinking!)

Has anyone else been contacted?

Why not call them back and ask them to double check as the website seems to not agree with your branch and I would be more inclined to go with the website as that will have been checked more for errors imo.

big_mortgage

OK thanks will do, sorry for any confusion, just thought I'd let people know.

afmfifgh

No worries, hopefully it is staying at 3%. Let us know what they say, fingers crossed they have made an error

rb10

There is no change to the 3% First Home Saver (Special Issue 1).

See this web page:

Santander wrote:

Accounts not affected are: - Rate for Life, Good for Life ISA, & First HomeSaver (Special Issue 1)

I expect the branch thought you had the First Home Saver - an easy mistake to make!

Eponym

Thanks for that, rb10! That's a relief! :beer:

Wings_of_Ambition

I wonder if they're trying to pull a fast one and change your account to the 0.6% one, hoping you don't realise...?

khalid

I'm using this as my main savings account and transferring money in and out to my current account. Are there any withdrawal penalties e.g. only receive interest in months where there are no withdrawals?

afmfifgh

khalid wrote: »

e.g. only receive interest in months where there are no withdrawals?

No, you can use it as instant access. The only restriction is you don't earn any interest on money of £50,000.00 or more. Below that gets 3% as of 23rd July 2013:

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http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223434447777&cachecontrol=immediate&ssbinary=true&maxage=3600

Alex92_2

Can this account be setup online? Or does it have to be setup via phonecall or in branch?

afmfifgh

It is an old account no longer available to new customers. I assume you don't have it as otherwise it would have already have been setup :undecided