MSE News: Santander launches cashback current account

innovate

SantEmp wrote: »

Just to clear up a few things, not sure if they have already.

The 123 account is good, but it also effectively gives you the 123 card for free alongside it. This gives you (primarily) 3% back on petrol for nothing. Coupled together with the cash back on your account it becomes much more attractive. To get this, you need to set up a direct debit for the card for any amount on the 123 account.

There's a long list of providers for the cash back on the account, this may not be exhaustive but it will be in time.

These percentages are for the lifetime of the product.

SantEmp, you need to declare your affiliation with Santander, or even obtain permission from MSE Towers to post as a company rep.

Can you please clarify further - - when you say "...but it also effectively gives you the 123 card for free alongside it..." - does this apply for the lifetime of the product, or just for the first 12 months, provided you apply by 30/6/12 (as the website seems to suggest)?

MCQ1

I have just transferred my ISA to Santander by phone. It did take a while listening to recorded messages on the rules and regulations. I was offered a waiver of the £24 fee for the 123 cashback card, but understand that you can get £45 cash back for signing up + you also have to pay the £24 fee via Quidco. Just submitted this for info, and suggest you haggle for the 12 month waiver if you want it.

dazza.mk

macalloa wrote: »

Can a debit card on a standard current account still be used fee free at Santander ATMs in Spain, the Balerics and Canaries ? Or has Santander dropped that benefit as well ?

"All main adult bank current accounts (those which are credited with at least £1,000 per month) can benefit from free cash machine withdrawals in Spain at a Santander branded cash machine"

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&cid=1210607028826&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateY2

SantEmp

innovate wrote: »

SantEmp, you need to declare your affiliation with Santander, or even obtain permission from MSE Towers to post as a company rep.

Can you please clarify further - - when you say "...but it also effectively gives you the 123 card for free alongside it..." - does this apply for the lifetime of the product, or just for the first 12 months, provided you apply by 30/6/12 (as the website seems to suggest)?

OK, I'll be sure to do that. Who do i talk to?

The 123 card's fee is refunded for the first year only. Consider it to be a taster. It gives you a year to try it out for free and decide whether it'll be worth paying for. Most people will find it useful, you can earn £108 just from petrol. they'll probably extend the refund stage near the end, it 's been very popular.

innovate

Just had my first month's 1-2-3 current account fee of £2 debited. They seem to do that retroactively.

And a total of £8.51 cashback credited at the same time for qualifying direct debits - so £6.51 up for the month (ignoring a few additional pounds interest since I was in credit).

Shaping up nicely for me - heading for some £80+ net cashback for the year - pays for a week of groceries. Or may be a budget return flight to somewhere in the sun next winter, if I keep my ears to the ground for special offers :-)

Like that account.

innovate

SantEmp wrote: »

OK, I'll be sure to do that. Who do i talk to?

It's in the Forum Rules at the top - - most relevant for you is probably the Companies Posting/Info section

IrishGypsy

I'd also warn you to be careful because unless Head Office have sanctioned the forum account, your advice may put you in to a pickle if any of it's wrong (and is then used against you in a formal complaint).

That's why even though I'm a Santander employee, I make sure it's all unofficial and under a disclaimer (see my forum signature).

Martian_Lewis

innovate wrote: »

Just had my first month's 1-2-3 current account fee of £2 debited. They seem to do that retroactively.

And a total of £8.51 cashback credited at the same time for qualifying direct debits - so £6.51 up for the month (ignoring a few additional pounds interest since I was in credit).

Shaping up nicely for me - heading for some £80+ net cashback for the year - pays for a week of groceries. Or may be a budget return flight to somewhere in the sun next winter, if I keep my ears to the ground for special offers :-)

Like that account.

Thats certainly a good start. If this is likely to be repeated across their entire customer base I can foresee some "restructuring" of the account happening before too long.

MoneySaverLog

Martian Lewis I just read your name as Martin first and thought wow he does not normally post on his own forums anymore :-)

innovate

Martian_Lewis wrote: »

Thats certainly a good start. If this is likely to be repeated across their entire customer base I can foresee some "restructuring" of the account happening before too long.

Quite possibly - - and we as customers can then 'restructure', as required, where we hold our money :cool: