Santander Select

ceredigion

MarkFromCornwall wrote: »

For instance, at present their 2 year fixed ISA rate is 0.55% but for Select customers it's 0.8%. Not great, I know, but at times the rates offered to Select customers have been competitive.

Wrong.
Taken from the product information.

A guaranteed rate on your savings for 2 years

• 0.55% AER/tax-free (fixed)
• 0.80% AER/tax-free (fixed) for 1|2|3 World or Santander Select customers.
• Minimum opening deposit of £500. No partial withdrawals permitted.
• On early closure, a penalty equivalent to 120 days' interest applies.

Note the word Or.
So to reiterate, where dose Santander pay more to select customers.

Fatbritabroad

Archi_Bald wrote: »

They seem to have added a (free) contactless Gold VISA debit card, with a daily limit of £750 for qualifying 123 customers.

The other thing that card allows is overseas withdrawal from santander accountants free free which is why I did it.you can access to a better mortgage rate too.haven't yet looked at whether it's worth it

zerog

5 years after I started this thread, I received a letter informing me that Santander Select is going to be removed from me.

For the past 4 years my average balance in Santander has been £2000.

This was because I had an old account with no fees that for some reason continued to pay 3% interest on £2000.

I think the trigger for my "deselection" was that I switched this account to another bank. I did this because they noticed it was paying 3% when it shouldn't have been, and subsequently informed me that it would stop paying 3%. I don't know how they noticed.

I never once spoke to any relationship manager and I doubt that I ever made use of the supposed "benefits" - as I don't know or care what they are.

Vortigern

zerog wrote: »

5 years after I started this thread, I received a letter informing me that Santander Select is going to be removed from me.

Perhaps they're having a purge? I could be next, but I don't care. :-(

I used to have 2 x 123 current accounts, a 123 Credit Card and a well stuffed cash ISA. Only 1 current account survives, and that's being run down.

Alexland

It was nice once when a Select advisor waited on the remortgage queue for me and called me back when they were at the front. I also like the gold card as it takes me back to the 80s.

I believe the criteria was about the incoming transactions being over £5k per month on average for 3 months or something similar.

Many years ago I actually logged a complaint with Smile when they refreshed my lovely gold credit card with a bright pink one. I just like gold cards especially when they shine under pub downlighters. Never moved onto black, etc.

Frankly given the choice I would pack my wife and son into a Delorian and set the clock back 35 years.

Alex

gt94sss2

Alexland wrote: »

Many years ago I actually logged a complaint with Smile when they refreshed my lovely gold credit card with a bright pink one. I just like gold cards especially when they shine under pub downlighters. Never moved onto black, etc.

Ironic you should mention black cards.

Santander relaunched their Select current account this week. Its very similar to the existing Select account apart from:

- a new black debit card (£1000/day withdrawal limit); and a
- £500 interest free overdraft

Existing Select customers with a gold debit card (or anyone wanting to become a Select customer) needs to apply to switch to the new account (can be done online)

More details can be found here

msallen

Hmmm, that page doesn't mention the free overdraft. It also describes it as a branded "Select account" (very similar to the 123 with a £5/month charge and 1.5% up to 20K) rather than a customer status regardless of account type.

I downgraded to the 123 Lite some time back but still have the Select applied to that (for what its worth!). That doesn't appear to be an option now. I've no desire to go back to a full 123 account so won't be taking any action, and should they decide to remove my "Select-ness" that'll be no great loss as I've only made use of the larger ATM limit once in years.

gt94sss2

msallen wrote: »

Hmmm, that page doesn't mention the free overdraft. It also describes it as a branded "Select account" (very similar to the 123 with a £5/month charge and 1.5% up to 20K) rather than a customer status regardless of account type.

If you go to the "Full Details" tab, it states "If you request an overdraft then the first £500 is fee free with your Select Current Account" under the Overdraft section as well as the normal qualification criteria for a Select customer.. i.e.:

To qualify for the Santander Select personal banking service, you need to:
- pay your main income of at least £5,000 per month into the Santander Select Current Account (excluding transfers from other Santander accounts) or
- keep £75,000 in any Santander investment(s), savings or current account

Alexland

gt94sss2 wrote: »

Existing Select customers with a gold debit card (or anyone wanting to become a Select customer) needs to apply to switch to the new account (can be done online)

When you say they need to apply I assume that's only if they want to? There's no suggestion they are planning to withdraw the gold cards from existing 123 Select account customers at this stage?

gt94sss2

Alexland wrote: »

When you say they need to apply I assume that's only if they want to? There's no suggestion they are planning to withdraw the gold cards from existing 123 Select account customers at this stage?

Yes, I got the sense it was totally optional though they seemed keen for me to do it - and looking online afterwards I noticed they had pulled the gold version

I haven't upgraded yet as I don't like doing these things over the phone but looking at the new version online it seems a slight improvement - as long as you don't mind your debit card changing colour!