Topcashback £55 for new Santander account? (I am already an existing customer)

Clarissa88_2

Hi there,

I hold an A&L PDCA account, and has now went past its 5% interest period. I'm now on 1%. I also have savings more than £10,000 with Santander.

I wanted to upgrade to their Zero, only to be told that they no longer give 5% for upgrading customers.

I now intend to apply for their Preferred Current Account.

a. If I apply through TopCashBack, will I get the £55 cashback? Do I need to switch for the £55 cashback? (I know I will not get the £100 switching offer)

b. Can I actually upgrade the Preferred Current Account to Zero once the account is up and running? Or does it defeat the purpose, in that my 5% will then revert to 1%?

Thanks for any advice.

And happy Bank holiday weekend!

pcombo

Think cashback is only available for New Customers joining the bank, not ones upgrading accounts, If that was the case everyone would be doing it.

Clarissa88_2

Thanks Pcombo.

Just to clarify, I want to apply for a NEW Preferred Current Account, not upgrade to one.

Does anyone have any experience on this? Thanks!

samwsmith1

I would assume since you are applying for a new one you would get the cashback.

hermante

Clarissa88 wrote: »

I wanted to upgrade to their Zero, only to be told that they no longer give 5% for upgrading customers.

Can I actually upgrade the Preferred Current Account to Zero once the account is up and running? Or does it defeat the purpose, in that my 5% will then revert to 1%?

I think you've answered your own question. If you can convince someone to apply for a NEW zero account rather than upgrading an old A&L or upgrading a preferred, you will probably get 5%.

I am in the same situation as you, but the branch staff said that I wouldn't even get 5% on a new zero account. I now have a preferred but will try to get a zero next year, in order to maximise the 5% period. Of course this depends on them still offering 5% next year. They are the same to me except a zero doesn't charge for a bank draft, but if you need overdrafts or something else then maybe you should try a bit sooner.

10_66

Clarissa88 wrote: »

...I hold an A&L PDCA account, and has now went past its 5% interest period. I'm now on 1%. I also have savings more than £10,000 with Santander.

I wanted to upgrade to their Zero, only to be told that they no longer give 5% for upgrading customers.

I now intend to apply for their Preferred Current Account.

a. If I apply through TopCashBack, will I get the £55 cashback? Do I need to switch for the £55 cashback? (I know I will not get the £100 switching offer)

b. Can I actually upgrade the Preferred Current Account to Zero once the account is up and running? Or does it defeat the purpose, in that my 5% will then revert to 1%?...

Theoretically, you should get the £55 cashback from TopCashBack if you open the account through them, but I have seen many comments on TopCashBack's website saying that it tracked successfully but later went to nil. As you know, you wouldn't get the £100 switching cashback as you're an existing customer.

According to their interest rate guide HERE (page 4), if you're an existing customer transferring to their zero account, you will only get 1% interest.

dave_dph

I closed a preferred in credit account in branch earlier this year, which was approx 6 weeks before its 12 months anniversary of being opened. On the same day I applied for a new preferred in credit account online and linked through Topcashback. The cashback was declined, but Santander paid the £100 incentive for moving one standing order and one direct debit over to them, through their account transfer team.

Can't complain!