Santander 123 Account

Minrich

LMott wrote: »

Hi, I've had a Santander123 account for a few years now and it's worked well for me, I have their c/c too and you get moneyback if you use it at certain places like department stores. Haven't heard anything about a takeover?

How long have you had a Santander123 account ? You say Years ??????

eskbanker

Santander launched the 123 current account in March of last year, 1.5 years ago!

innovate

March 2011 is when I opened my first one. 2.5 years ago.

eskbanker

Looks like I'm wrong then, although in my defence I just Googled 'santander 123 account launch' and it returned a huge list of press articles from March 2012 talking about Santander's announcement of their new product that month, was it rebadged from something else perhaps?

ses6jwg

The 123 bank account was launched in March 2012.

The 123 credit card before that in September 2011.

innovate

Weird. I have been recording each and every financial transaction I made since 2004 in MS Money. My first 123 current acct transaction is from March 26 2011. But all the publicity points to a March 2012 launch, as you said. I have no logical explanation for the apparent discrepancy.

Gromitt

Did you also start getting the £2 charge in March/April 2011?

Gordon_the_Moron

innovate wrote: »

Weird. I have been recording each and every financial transaction I made since 2004 in MS Money. My first 123 current acct transaction is from March 26 2011. But all the publicity points to a March 2012 launch, as you said. I have no logical explanation for the apparent discrepancy.

Did you have a different Santander current account and convert it into a 123 rather than opening a new one?

TickersPlaysPop

At last! somebody else that has posted a concern about a deal that is too good to be risk free.... I am no financial wizz kid.... Just learn't the hard way...

My advice.... don't use the 123 Current account as your main current account. Only save money in it if you will not need access to it quickly in future...... Read on....

The deal they are offering is way above what any other banks are offering when you consider all of the account parameters, I.e. 3% on up to 20k, other banks offer 3% but no where near the 20k balance.

I was hit by the bank crash badly.... after selling my house and moving into a rented flat before the housing crash I had a lot of house equity and savings in IceSave within the FSCS limit.... So nothing to worry about no?... WRONG.... I spent mths chasing and worrying, after 3-4 mths finally got the money back with no interest. So the FSCS is great.... But don't expect your money back immediately, or think you won't need to fight for your case. Luckily I didn't need the money quickly, but it was a lesson I will never forget.

I am half expecting to not get all my money back, but greed, high risk attitude and no need to get at the 20k quickly is keeping it with Santander.

Can a financial expert please comment on the Santander situation? For years before the financial melt down we were all saying "the way bankers make money doesn't add up" .... Turned out it didn't..... paving over a lie with overly complicated hedge funds and futures should not be allowed....

Santander is surely capitalising or propping up its Spanish mother company.... It will all be fine as long as there is not another big global financial shock.... If Spain pulls out of trouble Santander will soon turn down the interest rate, or the amount of money it pays 3% on.

Peace

Archi_Bald

You posted the same uninformed and xenophobic rubbish yesterday, and quite obviously ignored the response you got then.

E.g.

TickersPlaysPop wrote: »

The deal they are offering is way above what any other banks are offering when you consider all of the account parameters, I.e. 3% on up to 20k, other banks offer 3% but no where near the 20k balance.

£15K is pretty near £20K, isn't it? There's 3 banks offering that, 2 of which are within the same banking group.

Glad you have now remembered that it was ICESAVE and not ICICI which required FSCS intervention.

Search the forum / google for some facts.