Multiple 123 Accounts

saintalan

Midzone wrote: »

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That would work, the money has to be ' new funds' from an external account not another Santander account if you follow.

This has come up before it does not have to be external to Santander it just cant be one of your Santander accounts. The OH's a/c would be fine.

Alan

arbster

I see that it is a stipulation of the 123 account that you have 2 DDs set up. Is it necessary that they are debited every month, or just set up? For example, could we set up a Paypal DD on my wife's sole 123 and never use it, and still be eligible for the interest payments?

eskbanker

arbster wrote: »

I see that it is a stipulation of the 123 account that you have 2 DDs set up. Is it necessary that they are debited every month No, or just set up Yes? For example, could we set up a Paypal DD on my wife's sole 123 and never use it, and still be eligible for the interest payments?

See answers in the quote, but bear in mind that if you never use a DD mandate, it'll automatically lapse into dormancy after 13 months, so use it occasionally. Better to use Santander's cashback offering to get 1-3% back on qualifying genuine DDs anyway....

arbster

eskbanker wrote: »

See answers in the quote, but bear in mind that if you never use a DD mandate, it'll automatically lapse into dormancy after 13 months, so use it occasionally. Better to use Santander's cashback offering to get 1-3% back on qualifying genuine DDs anyway....

Thanks, and appreciate the note on dormancy. We already have a joint 123 from which all of the cashback-earning DDs come. Pretty much everything is in my name, which makes switching DDs to her sole account a bit of a faff. By using "idle" DDs I'll at least buy myself some time while I find a couple of suitable "real" DDs.