santander 123 current account

matttye

SnowTiger wrote: »

The dates are set by the company which takes the money, so they shouldn't change.

And, according to the Direct Debit: "If there are any changes to the amount, date or frequency of your Direct Debit the organisation will notify you (normally 10 working days) in advance of your account being debited or as otherwise agreed."

I used Santander's Switching Service and it worked perfectly, though I prepared for difficulties by keeping enough cash in both my old and new accounts to cover Direct Debits, which you also plan to do.

Thanks

I'm also going to send a £1 tester payment from my old account to my new account before I transfer most of the balance to make sure I input the details right. Can never be too careful!

Gromitt

matttye wrote: »

I'm also going to send a £1 tester payment from my old account to my new account before I transfer most of the balance to make sure I input the details right. Can never be too careful!

Very sensible. I do it for every new payee I setup. A lot of people still don't, and then complain to the bank when there 10K goes missing and complain again when the bank says "Not our problem".

matttye

Gromitt wrote: »

Very sensible. I do it for every new payee I setup. A lot of people still don't, and then complain to the bank when there 10K goes missing and complain again when the bank says "Not our problem".

Good idea actually

I think you'd have to be really unlucky to find someone who has, say, one different digit in an account number and the same sort code, but it's still not worth the risk!

Gromitt

matttye wrote: »

I think you'd have to be really unlucky to find someone who has, say, one different digit in an account number and the same sort code, but it's still not worth the risk!

I've seen posts on here from people who used the correct account number, but slightly different sort code. The account numbers are supposed to be modulus checked against the sort code to prevent this from happening, but I suppose there will be the odd one that'll work with two different sort codes.

You can find a specification for the checking here: http://www.vocalink.com/media/300578/vocalink_-_validating_account_numbers_v2.50.pdf

thor

macman wrote: »

The T&C's are perfectly clear. For any months when the terms are not met (which includes having the 2 active DD's, and the minimum £500 funding), then no interest will be paid, and no cashback will be paid either in that month.

Yes that is a bit of a relief for me as I was not 100% sure that my 2 DDs would be set up and active within the first month. They should be all good to go for the second month though.

anoncol

SnowTiger wrote: »

I used Santander's Switching Service and it worked perfectly, though I prepared for difficulties by keeping enough cash in both my old and new accounts to cover Direct Debits, which you also plan to do.

Same here. Nothing like being cautious when you can be!

anoncol

matttye wrote: »

Thanks

I'm also going to send a £1 tester payment from my old account to my new account before I transfer most of the balance to make sure I input the details right. Can never be too careful!

I always send £1.23

matttye

Got all of my documents today and PIN, but no card yet. The welcome letter has my card number on it but when I enter that to register for online banking, it keeps putting a red asterisk next to the card number field.

Does the card have to be registered or used in some way before I can sign up for online banking?

Thanks!

Vladislavs

Ive got a question regarding interest paid on santander 123 current account.
Is it works like that? -> im funding my account with 2000£ for example for first couple of weeks, but then by the time its exactly a month since opening an account, im having less than a 1000£.
Will i get interest for those 2 weeks when i had 2000£ on it? Or im not going to get any interest because by the end of the month ive got less than a 1000£?
Thanks

MarkFromCornwall

Vladislavs wrote: »

Ive got a question regarding interest paid on santander 123 current account.
Is it works like that? -> im funding my account with 2000£ for example for first couple of weeks, but then by the time its exactly a month since opening an account, im having less than a 1000£.
Will i get interest for those 2 weeks when i had 2000£ on it? Or im not going to get any interest because by the end of the month ive got less than a 1000£?
Thanks

Interest is calculated daily, so you will get interest every day that you have at least £1000 in the account but you'll get more on the days when you have £2000 in the account.