Santander ISA's launch on 8th March

Sazbo

MissyD wrote: »

Santander should have given you the option as they did me & other posters on forum to open new 2.5% ISA by last weekend to lock the rate in before its dropped to 2.0% & deley the transfer of my previous ISA, which should be done 14 days before maturity on previous ISA provider & rate drop from 3.01% to 2.01%, which is 31/05/14.
Try to complain in writing following up from phone complaint (in writing always seems to get better results) & emphasise that the representative you spoke to neglected to tell you could have opened account with nothing & delayed transfer, furthermore it does say you can do this in their terms & conditions, which the representative was responsible for advising you you in accordance but failed to do so!

Thanks MissyD for your helpful reply. No, he didn't say anything to me about the possibility of opening at that point to get 2.5% rate but delaying transfer. Nor did he mention it to my husband, whom he spoke to straight after speaking to me. Which makes me all the more suspicious that it was not mentioned deliberately? But in any event thanks for replying, and I shall do as you suggest. I complained to them publicly via social media last night, as it was too late to call them, so I shall see what response if any I get from that today, then I shall follow up with call and letter. Will report back.

Thanks,
Saz x

Vladislavs

saintalan wrote: »

Hi

I prefer the 123 Current a/c option although I have had mine over a year now.

You dont have to switch your other current a/c just pay in £500/month and set up at least 2 DD. The £2 fee could easily be offset by choosing some DD you have to 123.

Also keep over £3k in the a/c and get 3% (2.4%) interest.

Cheers

Alan

Yeah its working for you well, that current account, but ive got only 2 direct debits all together and they are on my halifax current account, which gives me 60£ per year for that, so i cant move them anywhere.
So credit card for me the only option But can i cancel this card all together in a few months and to keep my 3% tax free account for the next 2 years? is that will be legit? since i will not bue a current customer of santander.
In the rules ive been looking and could not find that its not posssible, so i guess it s a little loophole? right?

StevieJ

Some perspective, I have just opened a 123 cash 2 year ISA with half my allowance for the best rate of 3%, the other half of my ISA was used to populate my s&s Isa (First State Global resources) my s&s ISA is now up 3.3% since tuesday thus beating the whole first year return for the cash ISA.

saintalan

StevieJ wrote: »

Some perspective, I have just opened a 123 cash 2 year ISA with half my allowance for the best rate of 3%, the other half of my ISA was used to populate my s&s Isa (First State Global resources) my s&s ISA is now up 3.3% since tuesday thus beating the whole first year return for the cash ISA.

Hi StevieJ, investments can go down as well as up:)

Seriously I am half way to doing the same, done the Cash ISA 3%, past few years I have done a self select S&S with Halifax but am considering this year going the passive route with Vanguard.

Cheers

Alan

innovate

Vladislavs wrote: »

but ive got only 2 direct debits all together and they are on my halifax current account, which gives me 60£ per year for that, so i cant move them anywhere.
So credit card for me the only option

It is dead easy to set up a couple more DDs. Easier than cancelling a credit card, IMO. https://forums.moneysavingexpert.com/discussion/4168667

saintalan

innovate wrote: »

It is dead easy to set up a couple more DDs. Easier than cancelling a credit card, IMO. https://forums.moneysavingexpert.com/discussion/4168667

Yep, go for it!!

Vladislavs

innovate wrote: »

It is dead easy to set up a couple more DDs. Easier than cancelling a credit card, IMO.

wow hold on a minute, im a bit confused!
Lets say i will open santander 123 current account (i need it JUST to get their 3% fixed ISA rate for 2 years, which is a brilliant rate at the moment which allows transfers in as well!)... so, correct me if im worng, but here i think how it can work then:
1. i can pay in 500£ a months just by transfering money forwards and backwards from my halifax current account
2. I can set up first DD by opening esaver with santander and transfering every month like couple of pounds using DD. and i can do it as well backwards and forwards too right?
3. I can set up second required DD by sending couple of pounds on my online saver account at halifax. and i can do it over and over again by using the same couple of pounds transfering back and forth?
is my assumptions correct? if thats how it works, i definately will do it!

saintalan

You should see my First Direct Account!

Vladislavs

saintalan wrote: »

You should see my First Direct Account!

whats with your first direct account? so i understood it correct then? i can just play with like 10£ and use 2 DD and thats it??

saintalan

Vladislavs wrote: »

whats with your first direct account? so i understood it correct then? i can just play with like 10£ and use 2 DD and thats it??

I am not sure of that exact combination of your points 2 & 3, the thing is with DD as opposed to SO the payee has to set them up, but basically yes thats what you need.

Also when you review the DD cash back offers sure you might find something.

PLUS get a Santander 123 via Quidco and get £55 Cashback

My FD a/c well didnt mean to confuse. Its just that I have 3 accounts basically so I can subscribe to their regular saver at 8%, sadly the new one is 6% but still good.

Cheers

Alan