Is the Santander 123 Account Worth it?

Ellierose1

If referred may be due to historic account with b&b, abbey or alliance &leicester. If new application details differ from historic data held may cause a refer decision. Will most likely ask you to visit branch with passport if accepted.

macman

Is it possible to apply for the Exclusive Major Cash ISA online as an existing 123 Current Account Holder? The Santander site says 'Apply Online, but the only link takes you to a page of further info, which just says that you must apply by phone or by a branch appointment? And you then have to do any previous year transfers in by filling in a form and posting it. Neither is it (yet) apparently possible to log into your 123 account and apply from there, which would be the obvious way to do it.
I fail to see why this account cannot be opened online if all the have to do is verify your 123 account holder status?
Have I missed something?

innovate

macman wrote: »

Is it possible to apply for the Exclusive Major Cash ISA online as an existing 123 Current Account Holder? The Santander site says 'Apply Online, but the only link takes you to a page of further info, which just says that you must apply by phone or by a branch appointment? And you then have to do any previous year transfers in by filling in a form and posting it. Neither is it (yet) apparently possible to log into your 123 account and apply from there, which would be the obvious way to do it.
I fail to see why this account cannot be opened online if all the have to do is verify your 123 account holder status?
Have I missed something?

Did you try applying when logged into your account?

macman

Thank you, that seems to work-but you have to open a separate browser window alongside the one in which you are logged in-you can't click through from within the account. So they could make it easier.

innovate

Try 0800 587 2764

macman

Applied online and it takes you to a generic Cash ISA application link. However it detects which one you want based on the click through, and mine was confirmed and set up within 2 minutes. They just need to sort out the interface.

20vt-rs

I am considering taking out a 123 account and moving my DD's from my current Premier account manually, plus adding some bills I pay from another account to get the maximum cashback (I also want to utilise the ISA rate).

I currently get free travel insurance with my Santander Premier account, as it was a migrated A&L account. If I keep some money in that but no longer use it, will I loose my travel insurance? I realise I would if I closed it.

Thanks...

moderngirl

Just found this if it helps!


"If you transfer from one of the accounts with added benefits listed in the table below you will no longer be eligible for the following benefits or insurances:
Reward Current AccountPremium Current AccountTravel Reward Current AccountFamily Reward Current AccountPremier 50 Current AccountPremier / Premier Direct (with Travel Insurance

brass_in_pocket

I kept my old (ex A&L) account going for the travel insurance.
I opened a new 123 account, rather than transferring.
The old ac doesn't need any DDs kept on it but you still need to fund it each month with min £500 (transfers from a Santander ac in your name don't count) to avoid the £5 underfunding fee.

philbostavros

When our local branch manager reviewed our accounts (was in to do the usual ISA/eSaver shuffle in April), he suggested the 123 current account, which sounded good. I was reluctant, as me and the wife use the free travel insurance quite a lot.

He suggested keeping the old Premier a/c going, so we left a couple of odd d/d's on that account (ones that wouldn't attract cashback), plus my wife's pensions paid in, to meet the minimum usage requirements.

We transfer any surplus to the 123 account via the online banking system and have not had any problems.