Direct debit to qualify for Santander 123 Current Account INTEREST?

ceredigion

You give me £50,000 ,you can have 99.9% of my bloody business.

ceredigion

OPENSPACES wrote: »

Well I guess I am out too but don’t understand your attitude. To summarise you chastise me for not reading the terms and conditions on the main page of the web site which I agree are detailed. I say but I am an existing customer and did not use the main page as my application came via the “upgrade account” facility where the stated terms and conditions are entirely different and definitely do not mention external banks and all that. You say don’t care it’s there on the main web page and I say but that’s not where Santander directed me. Quite simply the information should be the same wherever you look on the web site. It is not. Still, nice knowing you chaps I now have 3 x 123 accounts. We are top of the league

Oh no your not, TSB , Nationwide and Lloyds pay more

karlie88

ceredigion wrote: »

You give me £50,000 ,you can have 99.9% of my bloody business.

What are your projections going forward?

Assets?

What was your turnover last year?

ceredigion

karlie88 wrote: »

What are your predictions going forward?

Assets?

What was your turnover last year?

arthritis !


Got a nice 14inch MT trowel


Made a living

karlie88

ceredigion wrote: »

arthritis !


Got a nice 14inch MT trowel


Made a living

I'm out...

OPENSPACES

Does of course refer to Bristol City FC !!!


And I ironically I am in the process of trying to sell my "since retirement" business !!

OPENSPACES

In my latest correspondence with Santander I have asked them to comment on the information provided to existing customers who wished to upgrade under the link which details


Current Accounts Important Information……Specific Conditions for 123 Account …para A4 headed Earning cashback and credit interest using your 1I2I3 Current Account


To earn cashback and credit interest on your 1I2I3 Current Account, you must:


a) pay the monthly account fee; and


b) pay in a minimum amount into your account each month; and


c) have at least two Direct Debits set up on your account; and


d) for earning credit interest only, you also need a minimum current account balance.


They have replied





I have passed your feedback on to our specialist team who will investigate this matter further to ensure that all information provided on our website is up-to-date and accurate.


Others may think the lack of continuity in Santanders published information is unimportant but I do not, we shall see

OPENSPACES

Received a phone call today from Santander about my reported inaccuracies on their web site. They got me to talk them through the problems and agreed that there were items which needed reviewing/updating. There was even a hint as I think suggested by Yorkshire Boy that interest only customers was not what they were really after. They also agreed my assertion that it is 7 times more expensive to recruit new customers than to retain existing ones. All in all an encouraging response which was of course accompanied by the usual donation to my account. Happy days

OPENSPACES

Glad to see that Santander has updated their website and removed some of the old flawed information proving that it does pay to complain when incorrect information is given

deanogiraffe

I haven't read the full thread on this topic, so maybe someone already suggested this, but I have 2 Santander 123 accounts both with 20k in. To achieve the direct debit requirement, as I ran out of household bills to setup DD's with, I used charities instead.

I set up a monthly donation of 5 pounds to WWF on one account, and a monthly donation of 5 pounds to Wateraid on the other account. This satisfies the DD requirements, gives money to charity, and gets me my interest. Yes I am giving away 10 pounds, but I am still getting almost 70 pounds/month in return. You could just setup a charity donation of 1 pound a month to maximise your profit (min donation to WWF is 3 pounds and wateraid 2 pounds so you'd have to find a charity that takes any donation however).

If everyone did this, we would be, in effect, making the banks give money to charity, which I find a great deal of personal satisfaction in!!