How many 123 accounts can a couple have?

money13

Simple question that hopefully someone will be able to answer

How many Santander 123 accounts can each person/couple open?

Also, I've just been looking at the 123 ISAs and seen a statement that says deposits must be made by 30 May 2013? Does this mean no money can be put into it after this date? Seems a bit odd??

Thanks for your help

innovate

money13 wrote: »

How many Santander 123 accounts can each person/couple open?

How many do you need? What have Santander told you when you asked them?

money13 wrote: »

Also, I've just been looking at the 123 ISAs and seen a statement that says deposits must be made by 30 May 2013? Does this mean no money can be put into it after this date? Seems a bit odd??

Yes, no deposits / transfers after 30 May. Such clauses are normal for fixed rate/fixed term accounts.

money13

Thanks for your reply, that's a shame about the deposits as we will be able to fill 2 completely but not until June. The search goes on for other ISAs then.

I haven't asked Santander how many you can have, hence the question.
Will do so tomorrow but have just been researching accounts this evening and thought someone may know? We want 2, maybe 3.

tipsychick

I've got 2 x Santander 123 current accounts and I think I read somewhere that's your lot.

£40K @ 3% isn't bad at the moment.

money13

Thank you That's great.

Yes at 3% they seem to be the best place for our money at the moment. Many thanks

plunt

do you get charged for each one you have ?

Onawingandaprayer

Can't imagine a couple getting 3.

Chjaka

money13 wrote: »

Thank you That's great.

Yes at 3% they seem to be the best place for our money at the moment. Many thanks

If you take the £2.00 monthly fee into account on the full £20,000 I make it roughly equivalent to an interest rate of 2.85%. Still, not bad in todays climate though.

We have a joint 123 account at the moment so I may open up another in my name and one in my wifes to take the slack when the 3.15% rate on my issue 5 Esaver expires in June.

Onawingandaprayer

Chjaka wrote: »

If you take the £2.00 monthly fee into account on the full £20,000 I make it roughly equivalent to an interest rate of 2.85%. Still, not bad in todays climate though.

esp if you taken into account the other advantages of the account, ie utility dd discounts etc
.

money13

I used the calculator on their website and the cashback more than pays for the £2 per month fee, mind you we have a mortgage with them which helps.
Been looking at other ways to get this interest on £40k (will have a separate £11k in ISAs) but keep coming back to these accounts.
If anyone has any other accounts that are worth us looking at could you let me know, thank you

rochja

You dont need multiple accounts to make the 3% on everything - just run a parallel esaver account that pays 3% too and transfer between them as necessary. The advantage is there is no charge to hold the esaver. Transfers are pretty much instantaneous