We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

The MSE Forum Team would like to wish you all a Merry Christmas. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!

Santander 123, is it worth the trouble?

2»

Comments

  • Midzone
    Midzone Posts: 94 Forumite
    I would never buy a car off Ford again either as I had a dodgy fan belt on my Fiesta.
  • GooliesOfFire
    GooliesOfFire Posts: 385 Forumite
    edited 29 June 2012 at 3:25PM
    Midzone wrote: »
    I would never buy a car off Ford again either as I had a dodgy fan belt on my Fiesta.

    Santander is more like a Tata rather than Ford. It looks like a bargain at first, then everything falls apart :rotfl:
  • Sailmakers
    Sailmakers Posts: 94 Forumite
    Gromitt wrote: »
    Problem 1: It's Santander.

    Problem 2: £2/month fee.

    I think I'd prefer the £5/month free from Halifax or the 3% from TSB (on balances >= 3K). Both require 1K/month, but thats easy.

    Idiot.

    1. They've had issues but are better. Still get morons that get a semi slagging them off.

    2. Cash back will easily offset this plus u have the interest. This guy obviously has never had a calculation.
  • amiehall
    amiehall Posts: 1,363 Forumite
    As a single student in a small flat it actually doesn't add up for me particularly. My cashback ends up at about £2 a month, same as the fee.

    I've got good deals on broadband for example by paying line rental in advance for example which means artificially low DDs. There's no council tax due etc. so I'm sure it doesn't add up for some people.
    Sealed Pot Challenge #239
    Virtual Sealed Pot #131
    Save 12k in 2014 #98 £3690/£6000
  • Gromitt
    Gromitt Posts: 5,063 Forumite
    Sailmakers wrote: »
    2. Cash back will easily offset this plus u have the interest. This guy obviously has never had a calculation.

    If you don't agree with me, thats fine, but there's no reason for name calling.

    As for the calculation, yes, I've calculated. I'll get £35 cashback and have to pay £24 for the account. So thats £11 per year. Not worth it. I can get better elsewhere.
  • Th1984
    Th1984 Posts: 112 Forumite
    13/06/2012 MONTHLY ACCOUNT FEE £2.00 £
    13/06/2012 1 Direct Debit Payment for Water at 1,00% Cashback £0.20
    13/06/2012 1 Direct Debit Payment for Gas & Elect. at 2,00% Cashback £2.80
    13/06/2012 1 Direct Debit Payment for Council at 1,00% Cashback £1.32
    13/06/2012 3 Direct Debit Payments for Comms at 3,00% Cashback £3.78
    13/06/2012 INTEREST PAID AFTER TAX 0.32 DEDUCTED
    £1.30

    This months cash back from the account = £7.40 after account fee, plus 123 credit accounts paid me £15.25 with no annual fee as I have the current account and card together.

    £190ish per year for nothing.....

    Had nothing but great service as well....
    Budgeting CC balance £0
    MBNA 0% [STRIKE]£1312.50[/STRIKE] £1212.50 1/12
    Nationwide Loan [strike]£19000[/strike] now £10114 27/51 £193.46 Overpaid
    Barclaycard 0% b.t. [STRIKE]£8966[/STRIKE] now £7928 4/30
    Hitachi capital - [STRIKE]£899[/STRIKE] 05/2013 Uncle - [STRIKE]£1145[/STRIKE] 03/2013 /Dad - [STRIKE]£3k[/STRIKE] 12/2012
    was £28,738 - now £19254 33% of the way there:j
  • ffacoffipawb
    ffacoffipawb Posts: 3,593 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    GooliesOfFire wrote: »
    Santander is more like a Tata rather than Ford. It looks like a bargain at first, then everything falls apart :rotfl:

    Tata own Jaguar and Land Rover. So they are hardly a back street cowboy enterprise.
  • chris1
    chris1 Posts: 582 Forumite
    Part of the Furniture 100 Posts
    pqrdef wrote: »
    And the cashback is less useful now there's a 3% cashback credit card on the market.
    Who does that please - presumably you have to pay a fee?
  • td_007
    td_007 Posts: 1,212 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    chris1 wrote: »
    Who does that please - presumably you have to pay a fee?

    Aqua Reward Card (http://www.aquacard.co.uk/credit-cards/reward-card). Max limit is £1600 though most get substiantially less and is typically aimed at those who want to built up their credit
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.9K Banking & Borrowing
  • 253.9K Reduce Debt & Boost Income
  • 454.7K Spending & Discounts
  • 246K Work, Benefits & Business
  • 602.1K Mortgages, Homes & Bills
  • 177.8K Life & Family
  • 259.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture