Santander 123. Two accounts

Bazzh

This question may have been asked before. If I transfer each month £500 from account 1 to account 2. Then from account 2 to account 1, would it be classed as crediting both accounts.

Archi_Bald

No, they say it must come from a non-Santander account.

Though people have reported that it's worked ok if it comes from someone else's Santander account.

talexuser

I have 2 accounts and make sure I have 1000 in my bank account to transfer 500 to each and then straight back out again to my bank account on the same day - all by SOs. If not have 500 available and transfer to one 123 and out again on one day, and then the same to the other 123 account on the next day.

mary

Probably the answer is no but has anyone done so?

[Deleted User]

Hi,

from Santander:

Monthly fee and funding

The monthly account fee will be due even if you don't qualify for cashback/interest benefits in a specific month.


To benefit from cashback and interest you must fund the account with £500 each month.


This is not a calendar month, it is the month from the date you opened your account.

Interest and transfers from any other Santander accounts do not count towards the monthly funding amount.


If you did not meet the minimum monthly funding requirement - you will not receive any cashback (or interest) for that statement month, however your monthly account fee will still be charged/due.

eskbanker

mary wrote: »

Can you have 2 x 123 Accounts?
Probably the answer is no but has anyone done so?

The answer is actually 'yes', up to two per person - see the posts immediately before yours and numerous other threads on this forum!

eskbanker

[Deleted User] wrote:

Hi,

from Santander:

Monthly fee and funding

The monthly account fee will be due even if you don't qualify for cashback/interest benefits in a specific month.


To benefit from cashback and interest you must fund the account with £500 each month.


This is not a calendar month, it is the month from the date you opened your account.

Interest and transfers from any other Santander accounts do not count towards the monthly funding amount.


If you did not meet the minimum monthly funding requirement - you will not receive any cashback (or interest) for that statement month, however your monthly account fee will still be charged/due.

Their wording in the legal account Ts & Cs is slightly different though, creating some ambiguity:

This £500 minimum monthly payment does not include refunded amounts from your Visa debit card. Interest and transfers into the account from another Santander account in your name (whether in your name or in joint names with another account holder) do not count towards your monthly amount.