Santander, how many current accounts?

10_66

td_007 wrote: »

It needs from an external a/c.

adindas wrote: »

No, external a/c means that exclude all Santander accounts. Literary say, from another Bank. Like although I have two Zeros a/c I feed them both from my Loyd TSB a/c and then transfer them back.

Just wanted to thank you both for highlighting this to me (which I should have seen for myself ). If you hadn't done so, all the effort in opening, setting up some "dummy" standing orders and "switching" to Santander for the £100 cashback (x 2 for OH) and (hopefully) the £55 (x 2 for OH) TopCashBack, would have been in vain, as I'd only set up standing orders between mine and OH's Preferred Current Accounts. Just managed to transfer in £1K from an external account to both before the 30 day limit was up. Thanks very much again .

10_66

exel1966 wrote: »

Personally I would wait until you have been credited with the £100 switch payment before opening the second account. Santander were exceptionally quick (2days after the 3 month period) crediting my £100 and I didn't have to remind them.
I went through Quidco for my first £55 (paid-now £45) and TCB for my second £55.55.

Yes, I agree, I'd decided to wait until I'd got the switching cashback before opening another. The TopCashBack isn't due to be paid until 31 December, so I might open one before then though.

charlieboycat

hermante wrote: »

My friend got the 5% by internal transfers from her own accounts. But the date on these T&Cs is 28 June... maybe they have been sneaky and changed somethig? Does anyone have a copy of the previous T&Cs?

The old no-longer-available-to-new-customers Preferrerd In Credit Rate (PICR) account did not require external funding (and still doesn't for those that were opened in time and are still within their first 12 months). The new Preferred Current Account (spot the difference in name?) does require external funding. Not so much a change of T&Cs as different T&Cs for a different account.

10_66

I've just tried to cancel the standing orders I'd set up between mine and OH's Preferred Current Accounts (as I've now set up external transfers instead), but after cancelling them (and a message appearing on screen telling me that I'd successfully cancelled them) I can still see them listed as active standing orders. Never having had a Santander current account before (and thank goodness it's not intended to be used as an active account), is it normal for any cancelled SO's to still be listed for a while, or have they simply not been successful cancellations?

hermante

charlieboycat wrote: »

The old no-longer-available-to-new-customers Preferrerd In Credit Rate (PICR) account did not require external funding (and still doesn't for those that were opened in time and are still within their first 12 months). The new Preferred Current Account (spot the difference in name?) does require external funding. Not so much a change of T&Cs as different T&Cs for a different account.

She did have the PICR and only got 1%, never figured out why. Now closed and opened a new Preferred. The account which has been getting 5% from internal transfers is a Zero, converted from some old current account in April. Should that be receiving the interest?

Thanks for pointing this out though, still have a week, and thankfully other banks can actually transfer £1000 without waiting for 3 days...

adindas wrote:

No, external a/c means that exclude all Santander accounts. Literary say, from another Bank. Like although I have two Zeros a/c I feed them both from my Loyd TSB a/c and then transfer them back.

So what happens if your employer pays your salary from Santander? (And what about a transfer from Santander in Spain?)

10_66 wrote: »

I've just tried to cancel the standing orders I'd set up between mine and OH's Preferred Current Accounts (as I've now set up external transfers instead), but after cancelling them (and a message appearing on screen telling me that I'd successfully cancelled them) I can still see them listed as active standing orders. Never having had a Santander current account before (and thank goodness it's not intended to be used as an active account), is it normal for any cancelled SO's to still be listed for a while, or have they simply not been successful cancellations?

I think you have to wait until Monday before they get cancelled. If they were set to be paid on Monday, the money may still be paid. It shouldn't matter if you were just sending 1000 to each other, though it will take 3 days if it's over 1000, or if it's the first payment.

td_007

adindas wrote: »

It depends on the date when they pay the interest not, when the a/c is open.

"Note 2: You must make the minimum monthly payment within certain dates each month to qualify for a preferential rate. These dates are different for each customer and we decide on them depending on when we pay the interest. For example, if we pay your interest on the 7th of the month, you must pay money into your account between the 7th of this month and the 6th of the next month. Please see your current account statement or visit online banking to find out which date we will pay your interest"

With all my a/cs I have noticed that the interest payment date is the same as the account opening date. So it is safe to base 1K transfers on the a/c opening date.:)

Naf

slush wrote: »

PS If anyone on here is from Santander... please challange any of the above and I'll willing prove what I'm saying.

I believe every word. I tried to defend them while I worked there, but it just can't be done.

exel1966 wrote: »

For those with more than one preferred account - Does the £1k pm have to come from an external source or can it be moved between other Santander accounts ?

It can come from wherever. Technically it's supposed to be salary, so should come from external, and in theory I think they could pull you up if it only came internally, but I doubt it'd happen as I've seen it done before.
It even works if you just withdraw and redeposit it... Some customers (I call them mad) send cheques every month from an external account then write them back out to the external account...

10_66

hermante wrote: »

...though it will take 3 days if it's over 1000...

According to Santander's table for transfers HERE (scroll down the page to "Santander Faster Payments Policy Limits"), standing orders go by Faster Payments on amounts up to £10,000 (after the initial one).

adindas

Some people has suggested, the trick here to do faster payment for over £300 and less than £10,000 with Santander is to set up a small dummy monthly standing order (say £1) to the a/c that he normally wants to pay using FPO.

When he knows the future date when he needs to do a faster payment say £10,000 to his particular a/c, just change the date and the amount online and it will go FP. It might save few quids though considering the interest for a few days.

I have not tried it by myself, but to know whether it could work or not is we need to learn from experience from other people who has tried this and report their experience in this forum so we call all learn it.

10_66 wrote: »

According to Santander's table for transfers HERE (scroll down the page to "Santander Faster Payments Policy Limits"), standing orders go by Faster Payments on amounts up to £10,000 (after the initial one).

Naf

adindas wrote: »

Some people has suggested, the trick here to do faster payment for over £300 and less than £10,000 with Santander is to set up a small dummy monthly standing order (say £1) to the a/c that he normally wants to pay using FPO.

When he knows the future date when he needs to do a faster payment say £10,000 to his particular a/c, just change the date and the amount online and it will go FP. It might save few quids though considering the interest for a few days.

I have not tried it by myself, but to know whether it could work or not is we need to learn from experience from other people who has tried this and report their experience in this forum so we call all learn it.

I tried it, and if you're altering the amount by a big leap then it'll still go via snail payments...