Santander Current Accounts

Blaize110

I have 2 questions I was hoping you might be able to help me with:


1. I've just been reading the information Santander give regarding the interest rates for their current accounts.

At the top if page 4 it says

"Rates if £1,000 is paid in each month and you’re over 18 (not including students, graduates and postgraduates)"

It then proceeds to list the rates for their current accounts. On the next page it lists the
"Rates if you're a student" and "Rates if you're a graduate"

Does this mean that students cannot open a normal current account with Santander and are limited to a student account?


2. The reason for this is that, whilst reading the guide to student bank accounts, I learnt of the practice of using a 0% O/D to earn interest on another account. My plan was to use 2 Santander 5% accounts to earn the interest (with £1000 bouncing back and forth), with the initial money coming from either a Coop O/D or another Santander account which offers one year's I/F O/D.

I wondered what you thought of this plan and if you thought it was viable? Especially if all the accounts were from Santander! I though i'd ask first before I went and screwed myself over. :P

MrTomato

a student can have a normal santander account, but they can't have a santander current account and a santander student account at the same time. you can only have one.

Blaize110

Ok, thanks for that.

Regarding my other question. Would it be viable to open a Stantander 0% O/D account for the purpose of using it to earn interest in a Santander 5% current account?

heloid

You could, but is it worth funding BOTH of them from an external account £1000 a month for what is likely to be less than a fiver (assuming your overdraft is less than £1500)?
Better off getting a Halifax Reward for £5 as this sort of 'stoozing' doesn't work so well with the interest rates as they are.

Blaize110

Hmm, you do have a point. Thanks

dvnly

MrTomato wrote: »

a student can have a normal santander account, but they can't have a santander current account and a santander student account at the same time. you can only have one.

I have a Student Account and a Current Account both at the same time.