Santander 123 Can you run it with a zero balance?

Cardew

Re Nationwide ISA rates

innovate wrote: »

Yes they had special rates (e.g. 4.25% on the ISA) but these are for limited duration, as you would expect (e.g. ISA runs out in October 2013). Still, marvellous deals if you got in at the right time.

I had not noticed the 'flexclusive' deals.

They seem like marvelous deals now. My family all have N/W ISAs at rates between 4% and 4.5% all running out over the next 2 years(best is 4.5% finishing 31/01/2015)

However it is not that long ago that we were getting over 6%(finishing in April 2010) and 4%+ seemed terrible.

rb10

innovate wrote: »

Does this mean I get no interest in my 123 on Sundays?

If the money is there on Saturday evening, then you get interest paid for both Saturday and Sunday.

mrsxfile

Cardew wrote: »

Are these accounts from some while back, and retain their 'high' interest rates?

Along with all other Nationwide savings products, their present interest rates are very poor.

Hi yes I got the ISA when it came out at the start of the tax year at 4.25% and the Flexclusive saver when it came out in August 2012. This one pays 6% - I think it's 4.2% net. I have to pay in at least £750 per month to keep getting the good rates for these.

Chickabee

Anyone know if you qualify for the 3% interst rate on the a/c for £3000+ if you don't have any direct debits set up on the account?
The info on their website mentions criteria of having to have 2 DD'S but its not clear if this only to qualify for the cashback (which i wouldn't be using anyhow)- just interested in the 3% rate... anyone tried this out yet for the interest rate alone?

Gromitt

It would appear not.

To benefit from cashback on household bills and interest on your balance, just follow these steps:

Set up a minimum of two Direct Debits.

Don't forget the £2/month fee, so on a balance of 20K you would get an effective interest rate of 2.8% (2.28% net)

SnowTiger

zerog wrote: »

And if you just want to earn interest, the money just needs to be in Santander from about 2010 to 2030 on Monday to Saturday evenings. It can be in another bank for the remaining 1420 minutes of the day.

That's interesting, however I'd guess that transferring, say, £3,000 a day back and forth might look a bit suspicious after a while. That alone would be £180,000 a month bouncing around.