Another 1-2-3- santander question

thor

I have just successfully applied for a Santander 1-2-3 account and have received my welcome documents. I believe you have the option of setting up direct debit/standing orders which will earn you cashback. Now I have a couple of regular saving accounts at other building societies which I want to fund from my new santander account so could I set up standing orders to do this and also qualify for a cashback? or is this for bill direct debits/standing orders only?

10_66

thor wrote: »

...Now I have a couple of regular saving accounts at other building societies which I want to fund from my new santander account so could I set up standing orders to do this and also qualify for a cashback? or is this for bill direct debits/standing orders only?

You'll only receive cashback on Direct Debits (not Standing Orders) for household bills. HERE's a link for those bills that are eligible.

dr_adidas01

thor wrote: »

I have just successfully applied for a Santander 1-2-3 account and have received my welcome documents. I believe you have the option of setting up direct debit/standing orders which will earn you cashback. Now I have a couple of regular saving accounts at other building societies which I want to fund from my new santander account so could I set up standing orders to do this and also qualify for a cashback? or is this for bill direct debits/standing orders only?

Had you read the T&C's of the account when you applied you would have seen that its for Direct debits to certain organisations that get you the cash back.

Are you also aware that there is minnimum £500 a month funding required and a £2 a month fee for this account? Your standing orders to other account will get you nothing.

thor

I must admit that I only gave the T&Cs a cursory glance. I knew about the monthly funding of £500 but I do not have any direct debits going out anywhere so was only speculating if I could use standing Orders to generate cashbacks.
The £2 monthly fee does not bother me one bit as the main reason I applied for this account was that Santander had reduced their 2.8% Cash ISA to 2.0% and I had to get the 1-2-3 account to qualify for the 3.0% cash ISA which is still around(so far).