Santander 5% current account questions

paulw98

right, iv not been with santander for just over 3 months so its time to go through all this again. I undertand fully the problems with santander but the £100 bonus and 5% is attaractive,
Obviously I wont be using it as a main account so this is what i propose to do.

Set up the account and 'switch' from a unused current account I have, this account has one DD, a credit card i havent used in ages. Obviously i will have to use this CC once or twice to activate the DD and claim my £100 but i will ensure i only use the card for small ammounts and have the money avaiable in my old curent account just incase.
Doing this should stop santanders uselessness affecting me in any way and once the account is set up correctly i will put in the 1k a month and get the 100 pounds bonus, it will then be used as a saving account for the remainder or the year with 1k being put through it once a month.

Anyone forsee any problems with this idea? Also is it possible to set this account up in branch as i feel this could further lessen the chance of any mess ups. ta

firsttimestudent

No problems there.

The only concern I have is that the Direct Debit is on a Credit Card. I did not have a very good experience with Santander's Transfer Team (last time, my O2 Broadband D/D was already cancelled by my initial bank but Santander did not set up the new one properly on my current account - resulting in O2 Broadband unable to claim the amount). Hence my concern is that Santander may not move the D/D of your CC properly, resulting in failed payment/late payment charges.

blueberrypie

Well they could fail to switch your DD.

Or they could switch it but fail to pay it.

Or your on-line access could disappear for weeks/months on end, as others' access has, leaving you having to go into a branch to do your monthly funding/de-funding.

Or they could fail to close the account when you ask them to, and then charge you fees for every month they leave it open.

They've done those things to plenty of other people. IMO it's not worth it.

paulw98

firsttimestudent wrote: »

No problems there.

The only concern I have is that the Direct Debit is on a Credit Card. I did not have a very good experience with Santander's Transfer Team (last time, my O2 Broadband D/D was already cancelled by my initial bank but Santander did not set up the new one properly on my current account - resulting in O2 Broadband unable to claim the amount). Hence my concern is that Santander may not move the D/D of your CC properly, resulting in failed payment/late payment charges.

yeah my thoughts exactly, hence i was going to make sure my credit card DD HAD been transferred before i speant on it again. This is no problem as i use another card as my main credit card