Santander 123 Accounts Only Two Per Person

soulsaver

Axel wrote: »

A few queries.

All of these post relate to opening in branch. Can you still open say three accounts online?

I have several DDs but many do not appear on the Santander eligibility list. Any comments on the following that are not on the list would be useful?

HBOS Card Services
LTSB Home Loans
Santander Consumer
TalkTalk Limited
TV Licence

Axel

They'll be inelligible for cash back - eligible as achieving the DDs need to qualify for the 3% - is my guess.

eskbanker

Going back to some of the mildly sceptical posts early on in this thread, has anyone come across anything more tangible than OP's branch manager's word that a limit is being introduced, in terms of published notifications, confirmed adjustments to written Ts and Cs, product information, etc? A quick squint at the Santander website doesn't seem to show anything - I don't suppose they're actually obliged to publicise a change in policy though....

innovate

soulsaver wrote: »

They'll be inelligible for cash back - eligible as achieving the DDs need to qualify for the 3% - is my guess.

"Talk Talk Telecom" is on the DD qualifying list

innovate

eskbanker wrote: »

Going back to some of the mildly sceptical posts early on in this thread, has anyone come across anything more tangible than OP's branch manager's word that a limit is being introduced, in terms of published notifications, confirmed adjustments to written Ts and Cs, product information, etc? A quick squint at the Santander website doesn't seem to show anything - I don't suppose they're actually obliged to publicise a change in policy though....

Who knows. I definitely don't think any bank/BS are under any obligation to state how many of a given account they allow per customer. It's more likely one of the T&Cs they can decide upon as they like.

AFAIK, Santander never said anything on their website and in their T&Cs that you can have any number of 123s. So not much reason for them to now say 2 is the max - - they can just turn down your application if they like, and they don't need to give you any reason.

gilly56

Can somebody just confirm, if you open a 2nd santander 1-2-3 current account, as long as you've got at least two DDs on it, it doesn't matter whether you get cashback on those two DDs, you'll still get the 3% interest rate?

soulsaver

innovate wrote: »

"Talk Talk Telecom" is on the DD qualifying list

Thanks but...I didn't post that it wasn't.

innovate

soulsaver wrote: »

Thanks but...I didn't post that it wasn't.

I didn't criticise you, I simply stated that "Talk Talk Telecom" is on the DD qualifying list.

To be fair, you said "They'll be inelligible for cash back" - - presumably referring to the list Axel posted, which included TalkTalk. I would agree with you on the rest of the list but thought it worth to point out that TalkTalk is actually eligible.

innovate

gilly56 wrote: »

Can somebody just confirm, if you open a 2nd santander 1-2-3 current account, as long as you've got at least two DDs on it, it doesn't matter whether you get cashback on those two DDs, you'll still get the 3% interest rate?

As long as you treat each of the 123s separately, pay in £500 a month into each, have 2 DDs in each, and a balance of between £1K and £20K in each, and pay your monthly £2 account charge for each, you get interest on balances above £1K for the respective account. What interest you get is on their website (but don't forget you might have to account for the monthly fee when calculating your returns).

If your DDs do no amount to more than £2/mth on each account, and you don't have between £3K and £20K in the respective account, you will get less than 3% AER, or no interest in the respective account.

It's all on their website in detail .....................

gilly56

thanx, i get it now.

soulsaver

innovate wrote: »

I didn't criticise you, I simply stated that "Talk Talk Telecom" is on the DD qualifying list.

To be fair, you said "They'll be inelligible for cash back" - - presumably referring to the list Axel posted, which included TalkTalk. I would agree with you on the rest of the list but thought it worth to point out that TalkTalk is actually eligible.

I was merely responding to the info axel provided - my point being for him if it isn't elligible for cash back it is still eliibigible for qualifying for the '3%' - my point for you is its Axel you need to be informing/quoting - he may miss it if linked to my post.