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

tara747

If the website is still showing 3%, where do we stand??

beefturnmail

tara747 wrote: »

If the website is still showing 3%, where do we stand??

Others can correct me as I'm no expert: I would have thought if you received a letter advising of the change, then you have no legitimate right to get any more despite what the website says. However maybe Santander have screwed up and you'll get the higher interest anyway (but I wouldn't chance it, I have £1 in there currently).

If however you did NOT receive a letter (as some are saying on here), then I would have thought you could claim the higher rate (If so I would print of the website where it says paying 3%. If you can get a Santander staff member to say it is paying 3% (also, as some are saying on here), even better.)

afmfifgh

tara747 wrote: »

If the website is still showing 3%, where do we stand??

I am not sure when it was updated but it is back to showing the correct current rate of 1.50% Gross.

pazza2000

Definetly paying 1.5% now, despite the branch / online info advising otherwise beforehand. Call to complain for conflicting information; £50 will be given as compensation (they will offer you less and ask if you think that's fair, £50 is the most the can and will allow).

pazza2000

On a separate note, thinking about moving over to the 123 account as a savings alternative to this. One of the conditions is that 2 D/Ds must be 'switched' across, can these simply be set up, and do they have to be active (i.e paying every month)?

lalman

I loved this account when it came out and build quite a sizable balance - really annoyed me when it all changed....


Best to close the account and move your dosh elsewhere.

Wings_of_Ambition

pazza2000 wrote: »

On a separate note, thinking about moving over to the 123 account as a savings alternative to this. One of the conditions is that 2 D/Ds must be 'switched' across, can these simply be set up, and do they have to be active (i.e paying every month)?

I have a 123 account, will keep a balance in there up to £20k, and the rest can stay in the FHS, as 1.5% is still a comparatively good rate. Not sure if the D/D's have to be active, I just have a couple of monthly charity donations on it.

pazza2000

Wings_of_Ambition wrote: »

I have a 123 account, will keep a balance in there up to £20k, and the rest can stay in the FHS, as 1.5% is still a comparatively good rate. Not sure if the D/D's have to be active, I just have a couple of monthly charity donations on it.

Thanks, as far as I can tell they do not have to be active (paying our each month), simply in place. They are strict though for the purpose in interest that two DD's are brought over and that £500 (from wherever) is paid in each month.

The_Fat_el_Hombre

Served me reasonably well but I'm taking my cash elsehwere now

rabh

Going to stick with this, as the interest rate is still quite competitive.

Does anybody know if there's still a £50,000 maximum?