Santander esaver 5 interest up?

sabretoothtigger

10k is the Al capone check where they got to start making sure you not cashing proceeds of your moonshine operations hence human involvement and form filling, the computer can handle a bigger number otherwise obviously

innovate

had 15K going from Santander into the Post Office today with no "Al Capone" hold-up. So much for my theory that they check anything above £10K.....

sabretoothtigger

Im pretty sure there is a law they have to pass on info on transfers above a certain level.

I think it was 10k, it might be less intrusive now or higher still but I'd be surprised if it didnt exist at all because its part of the whole EU anti laundering laws that have increased in recent years by quite a degree.

Maybe it doesnt apply where its certain the two accounts are the same person, that would make sense I guess

The Patriot act stateside would roughly equate on this

innovate

sabretoothtigger wrote: »

Im pretty sure there is a law they have to pass on info on transfers above a certain level.

According to this Wikipedia article: "there is no obligation on banking institutions to routinely report monetary deposits or transfers above a specified value. Instead reports have to be made of all suspicious deposits or transfers, irrespective of their value."

sabretoothtigger wrote: »

Maybe it doesnt apply where its certain the two accounts are the same person, that would make sense I guess

Would definitely make sense, I agree - - but when you make an FP, all they check automatically is the account number and sort code.

10_66

I really know that I shouldn't be surprised, but I've just 'phoned Santander to ask them to confirm that the interest rate on the esaver 5 is still 3.20% AER (3.15% monthly), as this information is not listed on their closed accounts page on their website, and I was told that it's never been 3.20% it was only 3.10%! I asked the person I was talking to if they were getting that off their website and she said it's not available on their website, but she's talking from personal experience. They don't get any better, do they? It's for this reason (when I couldn't agree the interest being paid) that I opened Coventry's 3.25% Telephone Saver (now gone as well, but at present still paying 3.25%) and moved all but £500 of my Notts funds over as the bonus drops off on 31 August.

Malcolm_Foster_2

10_66 wrote: »

I really know that I shouldn't be surprised, but I've just 'phoned Santander to ask them to confirm that the interest rate on the esaver 5 is still 3.20% AER (3.15% monthly), as this information is not listed on their closed accounts page on their website, and I was told that it's never been 3.20% it was only 3.10%! I asked the person I was talking to if they were getting that off their website and she said it's not available on their website, but she's talking from personal experience. They don't get any better, do they? It's for this reason (when I couldn't agree the interest being paid) that I opened Coventry's 3.25% Telephone Saver (now gone as well, but at present still paying 3.25%) and moved all but £500 of my Notts funds over as the bonus drops off on 31 August.

I have just done the same today (after making a formal complaint to their CEO about their plants to charge me £90 p.a. for a promised Free For Life Business A/c, formally by Abbey - thread elsewhere) after seeing reference to Santander E-saver Issue 6 at 3% gross.
As I had only recently upgraded from Iss 4 (3.1%) to Iss.5 (3.2%) and could find no reference to my earlier ones on their website, I also rang the helpline tonight. It was confirmed to me that my Iss 5 was/is paying 3.2% so they have dropped 0.2% with this new Iss. 6.
They are a crafty bunch, these bankers, and as someone commented elsewhere, they do not clearly show what issue you are on or make new/old interest rates obvious for comparison.

talexuser

I assume the eSaver 5 should be in next months update for closed accounts. It was only changed to 6 with the 0.2% drop this month I think? In any case it should be illegal not to have all interest rates available at all times online!

Glen_Clark

10_66 wrote: »

I've just 'phoned Santander to ask them to confirm that the interest rate on the esaver 5 is still 3.20% AER (3.15% monthly), as this information is not listed on their closed accounts page on their website, and I was told that it's never been 3.20% it was only 3.10%.

I can't see it on Santander website now either. But it definately did say 3.2%. Google Santander Esaver Issue 5 3.2% and loads of pages come up - eg;
http://money.aol.co.uk/2012/07/30/11-instant-access-accounts-that-beat-inflation/
http://money.uk.msn.com/banking/brits-saving-13percent-less-than-a-year-ago
http://www.lovemoney.com/news/savings-investments-pensions/savings/15937/santander-instant-access-account

exel1966

10_66 wrote: »

I really know that I shouldn't be surprised, but I've just 'phoned Santander to ask them to confirm that the interest rate on the esaver 5 is still 3.20% AER (3.15% monthly), as this information is not listed on their closed accounts page on their website, and I was told that it's never been 3.20% it was only 3.10%! I asked the person I was talking to if they were getting that off their website and she said it's not available on their website, but she's talking from personal experience. They don't get any better, do they? It's for this reason (when I couldn't agree the interest being paid) that I opened Coventry's 3.25% Telephone Saver (now gone as well, but at present still paying 3.25%) and moved all but £500 of my Notts funds over as the bonus drops off on 31 August.

The CSA's personal experience was obviously wrong. A simple human error caused by not checking.

ES4 was 3.10%AER - available until 08/06/12

ES5 was 3.20%AER - Account available 09/06/12 - 10/08/12

ES6 is 3.00%AER from 11/08/12

When opening new accounts like this I always use the renaming facility available on line to include the AER and promotion end date. Makes it much easier than having to search for historical rates on the web.

zerog

talexuser wrote: »

In any case it should be illegal not to have all interest rates available at all times online!

What if they don't have a website?

Anyway, issue 6 rate will probably go up soon. They probably just want to reduce their liabilities briefly. Remember that issue 5 also started at 3% and then went up to 3.2%. Issue 2 started at 2.5% and increased to 2.75%, IIRC.