Changes to Santander isa effective mon 8th

FB13

I applied online on Saturday and received an email with my sort code and account number today. This is my first Santander account. Do I need to wait for my log in details to arrive in the mail in order to use online banking?

Nednats

Shaztastic wrote: »

Has anyone managed to confirm yet whether or not the interest rate for the recent Direct ISA Saver (issue 1) has dropped today?

I doubt it has dropped but would be nice to know for certain.

Unfortunately the link to past account interest rates that has been posted several times in this thread is now out of date (15 March 2013). I can't see any reference in it to the Direct ISA Saver (issue 1) just a much older Direct ISA (issue 1) account.

This what I am trying to find out. Hope it hasn't gone down but I'm not sure what was variable part worked and don't have the keydata sheets

saintalan

Shaztastic wrote: »

Has anyone managed to confirm yet whether or not the interest rate for the recent Direct ISA Saver (issue 1) has dropped today?

I doubt it has dropped but would be nice to know for certain.

Unfortunately the link to past account interest rates that has been posted several times in this thread is now out of date (15 March 2013). I can't see any reference in it to the Direct ISA Saver (issue 1) just a much older Direct ISA (issue 1) account.

So are you saying that this issue 1 has been available to customers since 15 March 2013?

Shaztastic

saintalan wrote: »

So are you saying that this issue 1 has been available to customers since 15 March 2013?

The Direct ISA Saver (issue 1) opened to customers on 11 March 2013. The Direct ISA (issue 1) referred to in the old accounts document is from several years ago.

badger09

FB13 wrote: »

I applied online on Saturday and received an email with my sort code and account number today. This is my first Santander account. Do I need to wait for my log in details to arrive in the mail in order to use online banking?

If you have your sort code and account number you can pay in online from another bank straight away. You obviously won't be able to see the money arrive in your Santander ISA until you get your log in details though.

badger09

The rate on Santander's Direct ISA Saver Issue 1 (2.5% variable) has not been reduced.

Issue 1 has been withdrawn and replaced by Issue 2 (2% variable)

Those who successfully opened issue 1 will get 2.5%, those who missed the boat, will get 2%.

NB Both are variable (and drop to 0.5% after 12 months) so could drop before 12 months is up, but this hasn't happened with Santander in the past. Not to say it won't happen in future though.

In a couple of weeks the list of 'accounts no longer available' will be updated. Issue 1 was only withdrawn today -give them chance to update.

saintalan

Shaztastic wrote: »

The Direct ISA Saver (issue 1) opened to customers on 11 March 2013. The Direct ISA (issue 1) referred to in the old accounts document is from several years ago.

OK have done a search on cached pages and found this.

It does not show a date but I think it is the most recent of Issue 1 as the previous I think was pre Santander.

Cheers

Alan

EDIT

and this

Nednats

badger09 wrote: »

The rate on Santander's Direct ISA Saver Issue 1 (2.5% variable) has not been reduced.

Issue 1 has been withdrawn and replaced by Issue 2 (2% variable)

Those who successfully opened issue 1 will get 2.5%, those who missed the boat, will get 2%.

NB Both are variable (and drop to 0.5% after 12 months) so could drop before 12 months is up, but this hasn't happened with Santander in the past. Not to say it won't happen in future though.

In a couple of weeks the list of 'accounts no longer available' will be updated. Issue 1 was only withdrawn today -give them chance to update.

But it could drop at anytime?
So keep an eye on it or transfer to high rate if you see one...

daveoc22

I've got the issue 1(2.5%) but I'm unsure if I can now still pay into it---I haven't yet used my new 2013/14 allowance and my plan was to use this account?.

Any thoughts?.

FB13

daveoc22 wrote: »

I've got the issue 1(2.5%) but I'm unsure if I can now still pay into it---I haven't yet used my new 2013/14 allowance and my plan was to use this account?.

Any thoughts?.

The impression people here have is that only new potential customers are affected. If you opened the account prior to Monday, you were most likely not affected by the rate change.

Even if you are affected by the rate change, you can still add money to the account. It is not like Santander suddenly closed everyone’s accounts.