Santander 123 Account

CJS-90

I've just signed up for one - Just a simpe question.

I have £20k in the account, in order to take as much advantage of the interest rate as possible.

Based on 3%, is it taxed at the standard 20% rate? So, as such, I'll receive 2.4%?

Thanks in advance :-)

spannaman

yes

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Gromitt

Don't forget the £24 fee and the requirement to have at least 2 DDs. So unless those DDs create cash back, you'll get an effective 2.28% (after BRT) assuming you keep 20K in there. Still a market leader though.

[Deleted User]

Hi,

have just been looking at the 123, as I have Santander esaver paying 3.2% gross due to finish 19/06/13.

Do you know, if I switch my existing Santander current account, with 5 DDs, are they all switched automatically, and no change to payment dates?

Also, what happens with direct credits?

Thanks, sorry for hijack.

YorkshireBoy

[Deleted User] wrote:

Do you know, if I switch my existing Santander current account, with 5 DDs, are they all switched automatically, and no change to payment dates?

Also, what happens with direct credits?

Your questions are all answered on their website...

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1237906513018&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_ViewSelector

...but in short, since you're only 're-designating' the account your sort code and account number remain the same.

CJS-90

I've got the 2 DD's that I need (Phone contract and credit card minimum payment) and my wage will now get paid into this account. so I should be all good. I do have other DD's on another account for my rented accommodation, however I'm moving in with a friend soon so those DD's (Gas, water, elec, council tax) will soon disappear so I figured there wasn't much point transferring them over for just a month.