Santander 123 Account

Hominu

tushingham wrote: »

Thanks. Can I then select which direct debits to transfer across at the time I'd leaving? I assume I don't have to block transfer all of them but can pick?

Considering there is no incentive to use the switching service, it might be easier to just switch the DDs yourself as a time thats appropriate for you (so you can ensure you have appropriate funds for the DDs when they are collected).

Phosphoric

ManAtHome wrote: »

I set mine up by contacting varous organisations - most of them switched fairly quickly after phoning them (cashback etc has been paid, so this method obviously qualifies).

I also set up DDs manually with no problem, 5 in all.

However, I have yet to see tracking of cashback (Top Cashback) after 15 days. Am I being impatient?

JimmyTheWig

tushingham wrote: »

Thanks. Can I then select which direct debits to transfer across at the time I'd leaving? I assume I don't have to block transfer all of them but can pick?

I believe you can just transfer the ones that you want to.

ManAtHome

Phosphoric wrote: »

However, I have yet to see tracking of cashback (Top Cashback) after 15 days. Am I being impatient?

Should turn up at the 'end of the month' - the 123 month runs from when you opened the account, not calendar months.

innovate

ManAtHome wrote: »

Should turn up at the 'end of the month' - the 123 month runs from when you opened the account, not calendar months.

Are you talking about the cashback Santander pay?

The question was about tracking at Topcashback. Which should be showing after 15 days. One to take up with Topcashback, I would say.

ManAtHome

innovate wrote: »

Are you talking about the cashback Santander pay?

Yup - nutmegged and strung up like a kipper... thanks.

Sampong

I opened a Santander123 account in December and have been awaiting delivery of the debit card which never arrived, so I recently raised the issue with them.

Upon receiving a text message saying my incident reference number had been dealt with and closed I phoned them to check the card was on it's way.

I had to get passed through to a more experienced member of staff but he told me that the request for a debit card had been declined.

Now, technically I suppose I don't really need a debit card since my intention for the account is to deposit funds because of the interest rate, and set up DD's for the cashback.

However, is it not unusual that you can be approved for the bank account but rejected for a Debit card?

Apparently a letter has been sent out to me and I have been advised to take it into the branch when I receive it to see if they can shed any light on the situation.

newman11

Is this account still worth having if there weren't any cashback on the direct debits but you had 19k to save, would the interest minus fee still make it worth considering?

innovate

Use their calculator and decide whether it's worth it on your numbers.
http://www.santander-products.co.uk/banking/calculator/123dual.html

JimmyTheWig

newman11 wrote: »

Is this account still worth having if there weren't any cashback on the direct debits but you had 19k to save, would the interest minus fee still make it worth considering?

It would be the equivalent of 2.87% interest, which sounds pretty good to me.
Remember to check the conditions of the account (e.g. funding requirements).