Santander ISA's launch on 8th March

Vladislavs

saintalan wrote: »

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 ......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

Yeah ive seen about quidco cashback, but apparently its very difficult to get that cashback and many people still waiting for it after 5 months and they not sure if they will get it at all :-o

anyway, yeah thats the problem with DDs, the payee has to set them up, im confused how to get then it going? how exaclty can i set two new DDs from the scratch?

Vladislavs

saintalan wrote: »

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 [Uand 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

or ive got even better idea, to apply for 123 current account, and at the same time for a 3% ISA fixed, and then after ISA will be ready, to wait a couple of weeks and to close that account all together.
can i do that?
will my ISA still be working then?

saintalan

Vladislavs wrote: »

or ive got even better idea, to apply for 123 current account, and at the same time for a 3% ISA fixed, and then after ISA will be ready, to wait a couple of weeks and to close that account all together.
can i do that?
will my ISA still be working then?

Similar asked elsewhere here, guess it would be difficult to void your ISA, but I dont know.

Vladislavs

saintalan wrote: »

Similar asked elsewhere here, guess it would be difficult to void your ISA, but I dont know.

it doesnt say anywhere in T&C about that i required to keep current account all the way for the duration of my ISA, not a single word, so i guess i can

innovate

Vladislavs wrote: »

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!

In a nutshell, yes - - though I would probably not use a Santander esaver DD to fee a Santander 123 - - - - looks too much like taking the proverbial. You have plenty of other choices - - Tesco probably being one of the most easiest. If you then have a Halifax, you are done.

Though it sounds a great shame not to get any cashback for DDs...are you sure you have absolutely no qualifying ones?

If that is truly the case, then may be you'd do better with the CC. That is, if you would spend anything that attracts cashback, lol..............

innovate

Vladislavs wrote: »

it doesnt say anywhere in T&C about that i required to keep current account all the way for the duration of my ISA, not a single word, so i guess i can

True, but is says they can ask you at any time to transfer your ISA out.

Why not just comply with their requirements and cash in in the process? I make at least £11 a month from the 123 current account, and to my amazement, I have made over £30 in CC cashback in 3 months, even though I use the Santander CC quite sparingly (for food and petrol shopping only, and the very occasional working lunch in John Lewis).

Vladislavs

innovate wrote: »

In a nutshell, yes - - though I would probably not use a Santander esaver DD to fee a Santander 123 - - - - looks too much like taking the proverbial. You have plenty of other choices - - Tesco probably being one of the most easiest. If you then have a Halifax, you are done.

Though it sounds a great shame not to get any cashback for DDs...are you sure you have absolutely no qualifying ones?

If that is truly the case, then may be you'd do better with the CC. That is, if you would spend anything that attracts cashback, lol..............

yeah well ive got a one qualifying DD, my phone bill, but its on my halifax, and it gives me 5£ per month.
So i need only to use unnecessary DDs to qualify for any interest on 123 current account.
I tried 123 CC today on the phone, but unfortunately my application was unsuccessful, i dont know why, maybe because imn not a homeowner. Ive got two credit cards and have them for many years, one with HSBC, and another with halifax, oh well, that why im going for 123 current account

innovate

Vladislavs wrote: »

yeah well ive got a one qualifying DD, my phone bill, but its on my halifax, and it gives me 5£ per month.

A DD that earns cashback at Santander is wasted at Halifax.

Halifax doesn't pay cashback, so any old DD will do (such as a DD to Tesco Savings).

Vladislavs

innovate wrote: »

True, but is says they can ask you at any time to transfer your ISA out.

Why not just comply with their requirements and cash in in the process? I make at least £11 a month from the 123 current account, and to my amazement, I have made over £30 in CC cashback in 3 months, even though I use the Santander CC quite sparingly (for food and petrol shopping only, and the very occasional working lunch in John Lewis).

I might just leave 123 current account and do all the DDs from halifax and maybe get some interest from it by having some cash in it 1% or 2% gross as long as my 3% ISA will work for 2 years thanks

Vladislavs

innovate wrote: »

A DD that earns cashback at Santander is wasted at Halifax.

Halifax doesn't pay cashback, so any old DD will do (such as a DD to Tesco Savings).

thats actually good point, i will do another DD for halifax that will save me 3% from my 21£ phone bill...hehe 0.63£ savings per month, oh well :j