Multiple 123 Accounts

Silky_Racing

Hi guys,

Just been looking on here and it seems a number if you have more than one Santander 123 Accounts? Is this possible?

This would be good for me as I have my 123 account fully loaded with 20k and could do with another to put the rest of my savings in to maximise the 3% rate.

Thanks

innovate

Silky_Racing wrote: »

Hi guys,

Just been looking on here and it seems a number if you have more than one Santander 123 Accounts? Is this possible?

Yes it is possible.

dr_adidas01

innovate wrote: »

Yes it is possible.

Yes it is possible you can have one as a single account and another as a joint account.

They won't allow you to have more than one in as a single account holder. You used to be able to but now they seem to be clamping down.

Silky_Racing

That's a shame. No one to have a joint account with.

innovate

dr_adidas01 wrote: »

Yes it is possible you can have one as a single account and another as a joint account.

They won't allow you to have more than one in as a single account holder. You used to be able to but now they seem to be clamping down.

That is NOT true. I think you might be mixing up the 123 with the Halifax Reward (for which the rules you describe do apply).

You absolutely can have more than one 123 in a single name. I was told by my local branch I can have "as many as you like". And I have just opened my third one in my name only, with no problems whatsoever.

dr_adidas01

innovate wrote: »

That is NOT true. I think you might be mixing up the 123 with the Halifax Reward (for which the rules you describe do apply).

You absolutely can have more than one 123 in a single name. I was told by my local branch I can have "as many as you like". And I have just opened my third one in my name only, with no problems whatsoever.

I was told you could only have one as a single account and another as a joint account.

However if it is that you can have more than one then I shall try and open another very shortly as that would be very beneficial.

xxdeebeexx

Does anyone, with multiple 123 accounts, have DD's to Tesco savings set up on more than one account?

tia

dx

sparkyspark

dr_adidas01 wrote: »

I was told you could only have one as a single account and another as a joint account.
However if it is that you can have more than one then I shall try and open another very shortly as that would be very beneficial.

You can have your name on up-to five 123 accounts, meaning five joint accounts or five individual accounts each for yourself and wife giving a total of ten for you and your partner if you wish, providing you can meet the required criteria.

innovate

xxdeebeexx wrote: »

Does anyone, with multiple 123 accounts, have DD's to Tesco savings set up on more than one account?

tia

dx

Yes.......................................................

innovate

sparkyspark wrote: »

You can have your name on up-to five 123 accounts, meaning five joint accounts or five individual accounts each for yourself and wife giving a total of ten for you and your partner if you wish, providing you can meet the required criteria.

Where does that "five" limit come from?

brendon

Depending on how much you have to save/will be saving over the next year, it may be worth considering other accounts. I have just opened a "1 Year Regular Saver Bond Issue 13", which pays 3%, with Principality Building Society. You can transfer up to £500 per month to it, which ensures my Santander balance stays below £20,000 (and avoids another fee/direct debit requirement).