Opening A Second Santander 123 Account

eskbanker

Herbalus wrote: »

Just so you're all aware, as this is an old post, Santander have now restricted the 123 so that now the second account has to be joint.

In the spirit of accuracy (or pedantry, delete where applicable), their rule is actually that any individual can have one sole and one joint account, so if the first account is a joint one then the second one can't be!

Onawingandaprayer

eskbanker wrote: »

In the spirit of accuracy (or pedantry, delete where applicable), their rule is actually that any individual can have one sole and one joint account, so if the first account is a joint one then the second one can't be!

and if the first one's a joint, the second one can be a sole one for one of the two joint account holders? (Which is what I'm planning/hoping to do!)

plodder73

Can anyone advise, opened a 123 account just over a month ago. Deposited 20k, transferred two standing orders however not received any interest. I was led to believe you get it monthly on the same day as it was opened, is that correct?

Archi_Bald

plodder73 wrote: »

Can anyone advise, opened a 123 account just over a month ago. Deposited 20k, transferred two standing orders however not received any interest. I was led to believe you get it monthly on the same day as it was opened, is that correct?

Your Santander account month is personal, not a calendar month.

You need to two Direct Debits, not two Standing Orders, alongside your monthly deposit of at least £500 a month, to receive interest.

How many Direct Debit instructions can you see on your account?

plodder73

First of all thank you for replying, I actually meant direct debits, set up my council tax and sky tv. What do you mean personal, I opened it on 21/2 so was expecting interest 21/3, have I misunderstood?

Norman_Castle

Has the monthly £500 also gone in?. Has the monthly £2 fee gone out?

plodder73

I have put 20k in on 21/2, no money in since was going to put £500 in on the 1st. £2 fee not come out yet. I promise I am not being lazy I have read the t and c s , I may however be being stupid!

Archi_Bald

plodder73 wrote: »

I have put 20k in on 21/2, no money in since was going to put £500 in on the 1st. £2 fee not come out yet. I promise I am not being lazy I have read the t and c s , I may however be being stupid!

I am sorry - what did you do when, and what do you think should have happened when?

Norman_Castle

Interest is normally paid on the same day the fee is taken. I expect they are waiting for this months £500.

plodder73

I put £20k in on the 21/2. Since then no further money has gone in. I was going to put £500 on the 1st April. I set up two direct debits immediately on the 21/2. I was expecting interest on the£20k on the 21/3. I take it I have misunderstood something.