Santander esaver issue 3

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Looks like they've finally gotten around to updating the "old accounts" .pdf. About flamin' time!

Page 7 about half way down. Still 3.0% luckily

:beer:

Smiffyman

My esaver 3 just became 1 year old. I was told the interest would decrease to 0.5% because the 2.5% bonus would be removed. I was told to open an esaver 4 and transfer the money from the esaver 3 in order to earn 2.75% interest for the next 12 months. Bizarre, but that's how Santander seem to operate. If your esaver 3 is 1 year old, move the money to an esaver 4 or look elsewhere for a better deal.

atypical

Smiffyman wrote: »

My esaver 3 just became 1 year old. I was told the interest would decrease to 0.5% because the 2.5% bonus would be removed. I was told to open an esaver 4 and transfer the money from the esaver 3 in order to earn 2.75% interest for the next 12 months. Bizarre, but that's how Santander seem to operate. If your esaver 3 is 1 year old, move the money to an esaver 4 or look elsewhere for a better deal.

This is how most banks operate. ING are even worse in that they only offer their best rates to new customers so you can't just open the new 'super duper issue x+1' account and transfer the money.

electric_comperella

is this account covered by the fsa £85k compensation scheme or just the EEA one?

atypical

electric_comperella wrote: »

is this account covered by the fsa £85k compensation scheme or just the EEA one?

There isn't an EEA one - each country operates its own scheme. Santander is covered by the UK FSCS scheme.

electric_comperella

sorry crossed wires

thanks for the post...so up to 85k in an e-saver would be safe? providing obviously there's no other monies elsewhere within Santander companies.

talexuser

yes, the 85k is spread between Santander, Alliance and Leicester, Bradford and Bingley, Abbey, Cahoot and Asda.

saintalan

So, if you have an eSaver Issue n still valid for, say, another 9 months and you then deposit further funds will this stay at the Issue n rate or go to Issue n+1 rate?

Thanks

Alan

atypical

saintalan wrote: »

So, if you have an eSaver Issue n still valid for, say, another 9 months and you then deposit further funds will this stay at the Issue n rate or go to Issue n+1 rate?

It will stay at the issue n rate. When you deposit funds is irrelevant to the issues of the account available.