Santander Current Account

gazza975526570

Sorry for hijacking the thread but will the following work:

OH has an inactive account. But i could set up 1 direct debit for this purpose.

I could then transfer in 1000 for 3 months from my regular current account?

If this is correct - one final question - does this then close the original account?

MrWasp

I'm not sure if they still offer it, but last year there were 2 options. One to earn a decent rate of interest or 0% overdrafts up to £5000.

td_007

gazza975526570 wrote: »

Sorry for hijacking the thread but will the following work:

OH has an inactive account. But i could set up 1 direct debit for this purpose.

I could then transfer in 1000 for 3 months from my regular current account?

If this is correct - one final question - does this then close the original account?

You are not eligible for £100 cashback if you already have a Santander account - inactive or not. If you apply and get a new account, the original account does not close.

ses6jwg

you must not have had a current account with the santander group within the last 3 months

Biggles

gazza975526570 wrote: »

Sorry for hijacking the thread but will the following work:

OH has an inactive account. But i could set up 1 direct debit for this purpose.

I could then transfer in 1000 for 3 months from my regular current account?

If this is correct - one final question - does this then close the original account?

Easier just to set up an SO for £1 with a date a month hence. If it all goes through promptly, you can go online and cancel it before it's made, if it doesn't it's only £1.

But you need to transfer in (and out) £1,000 every month if you want the 5%, as already mentioned.

And no, it doesn't close the original account.

scottishblondie

Biggles wrote: »

Easier just to set up an SO for £1 with a date a month hence. If it all goes through promptly, you can go online and cancel it before it's made, if it doesn't it's only £1.

But you need to transfer in (and out) £1,000 every month if you want the 5%, as already mentioned.

And no, it doesn't close the original account.

I don't think setting up a SO will work, according to Santander website it has to be a direct debit in order to receive the £100 cashback:

Santander_Website wrote:

£100 will be paid into your new account within 3 months of account opening providing you have at least one active direct debit (paid at least once) set up on the account within 11 weeks and have paid in at least £1,000 each month. If you do not have any direct debits to switch you will not receive £100.

al4

I cannot recommend a Santander Current Account. I have been an Abbey, now Santander customer for many years and managed my money well with a spotless credit history both for business and personal. I manage 2 Santander, previously Abbey business accounts and neither have ever been overdrawn. I have very occasionally been overdrawn within the limit in the personal account and on average over the last year about £3000 per month has been put in. Despite this, Santander recently reduced my £1500 overdraft limit to just £300. I complained and they said, ignore the letter it is an error. Another letter arrived a few days later with the same information on. I assumed it to be a repeat of the error, but two months later, sure enough the overdraft limit suddenly dropped 500%! I complained and they said it was because I had not used the overdraft limit for a year [I had used it about one year previously]. They said the best they could do would be to raise it to £500. To show how ridiculous they are, I also have an Alliance and Leicester account which I don't use any more with a zero balance with an overdraft facility of £1400. Work that one out. Because A&L will become Santander soon, I wondered if this was why my Santander limit had been reduced, but they said there was no connection, and the decision is based entirely upon whether or not the facility is used or not on the Santander account. It is nice to feel the security of an available overdraft limit just in case, but it seems Santander are determined to force you to take a loan in such circumstances. More about their profits than customer service. There is too much risk that Santander could pull the rug from under your feet in my opinion. Cannot trust Santander since they took over from Abbey.

Catamarca

I've signed up for this, and am a bit concerned about the conditions too. The person who opened my account seemed to imply there was an additional payment if you'd managed to get a balance of £2500 in one year - this turned out simply to be the maximum you could earn on the interest. Not well explained.

Another thing I wasn't keen on was that they flat-out refused to match my HSBC overdraft with no explanation. The promotional literature states that they will match existing overdrafts.

What sold it to me was the 6% fixed rate savings product that came with it :T... but I will be aiming to keep my HSBC account and overdraft via transferring money over there every month. Bit of a headache!

simplysound_2

Please can anyone confirm for me, that aslong as £1000 is transfered in each month (for the yaer) you get the £100 and the 5% on balance up to £2500.

I fortunatly am an unemployed graduate, I do not work can cant put it pay... But I can transfer money to and from an account.

Also I will be transfering from Natwest, with whom I have a current account, a savings account and an ISA. Would I keep my savings account and ISA when making the transfer?

Thanks in advnace

Vaila

im a bit confused with this account too, not familiar with santander, do you get the £100 bonus just by switching to them, or only if you deposit one thousand for the first three months