Santander account, should I take it? (Credit report help!)

Wasteofspace

I've been with RBS since I started Uni, been wanting to leave them for years. My free OD is up so I have no reason to stay.

Applied for a Santander PODR current account three months ago (dont ask!) and have just been offered the account but with no overdraft at all.

I'd still like to look elsewhere, but is there any harm in taking the account anyway? No need to tell me how terrible Santander are, I know! but if is not going to reflect badly on me I'll take the account for day to day stuff in the mean time.

While we are here, if anyone can recommend something to minimise the cost of a £2000 overdraft I'd love to hear it! :rotfl:

Loughton_Monkey

There is absolutely no harm in keeping it.

There are many of us who have Santander Current Accounts, and I have mine for the simple reason of their 5% interest on £2,500 subject to £1,000 going in. I am big and ugly enough to fight my corner if and when things go wrong, and I make sure I 'follow the rules'. The last thing I would do is move my "main" account from First Direct (a "proper" bank).

I can't however, suggest where to go for your overdraft. I never use them myself.

slopemaster

There could be 'harm' in keeping it if you expect it to actually work.
My account has only just been unblocked (and closed!) after being blocked for almost a month with no explanation.
So, I had £2,500 to get my 5% 5% interest. Then £1,000 was supposed to go in, and straught out to another a/c where I needed it. Instead it was stuck in there for a month, with no interest, no explanation, and no apology.
Have just managed to close that a/c, and still arguing about another account that they're refusing to close.
RUN A MILE!

DrSyn

Did your dad or mum never give you the standard two warnings?

1. If the water looks or smells terriable,aviod it!
2. Live within your means,it is the best way to aviod debt!

The best advice I can give is:

1. As you intend to change banks anyway. Go to either, First Direct or the Co-op Bank. They always come in the top 2 positions in customer satisfaction polls. You normally get trouble free banking.

2. To minimise the cost of an overdraft join a Credit Union if you can.
(a) Type Credit Union into the search box on this site.
(b) Also try the Association of British Credit Unions (www.abcul.org)

Wasteofspace

Agreed to take the account but am looking to apply to Lloyds as I hear a lot of good things about them. Sadly seems I'll have to keep the RBS account and it's £50 a month interest fees but oh well.

Thanks for the help and advice all.