A&L (Santander) Premier Direct account

Wilma33

I have the above account and get a small amount of interest on the 13th of each month. However, this month I didn't get anything. Have the t&cs changed or the rate dropped to 0% or is this an error?

thor

Wilma33 wrote: »

I have the above account and get a small amount of interest on the 13th of each month. However, this month I didn't get anything. Have the t&cs changed or the rate dropped to 0% or is this an error?

Sadly they have stopped paying interest. I have now got to get out of the habit of transferring £500 in and out of my A&L account.

easymoney999

Would anyone have a link that shows the details of no interest, I've had no information re lack of interest.

dzug1

https://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223430984162&cachecontrol=immediate&ssbinary=true&maxage=3600

may help - it took effect on 22 February and says no interest on this type of account.

I don't recall it being brought to my attention though

notbritishgas

easymoney999 wrote: »

Would anyone have a link that shows the details of no interest, I've had no information re lack of interest.

Santander informed us by means of an addition to one of the monthly statements, I think it must have been December because I started this thread on 20 Dec

https://forums.moneysavingexpert.com/discussion/4340647=

Dzug's link incorporates it into their T&C's.

easymoney999

I have had a message from Santandar today regarding interest.

The premier direct account no longer receives interest.

Everyone was informed with their statement during Nov Dec.

System

I take it these accounts can be converted to 123 accounts?

easymoney999 wrote: »

I have had a message from Santandar today regarding interest.

The premier direct account no longer receives interest.

Everyone was informed with their statement during Nov Dec.

notbritishgas

Heng_Leng wrote: »

I take it these accounts can be converted to 123 accounts?

Yes that is what I did following the notification of zero% interest.
The advantage is that the sort code and account number stays the same, meaning any DD's are not changed.