Two 123 accounts?

MrsFabulous

Hi,
I've had some really good help from you guys on here earlier this year so I'm hoping for some more good advice, please. Thanks in advance.
I opened a Santander 123 account recently and it all went smoothly. I put 20k in and transferred my DDs. The first month I received (after tax) about £32 interest.
Question 1 - Do Santander provide a detailed breakdown of how this is calculated? I suppose it's easy enough to work it out myself, I just wondered whether they do and where I can see that. (I also have the 123 credit card and so far I've seen no cashback figures on my statement for spends in places such as Sainsbury's petrol stations etc.)
Secondly, we still have some money in an ISA which is making nothing - it's just a couple of thousand or so. I am thinking of opening a second Santander 123 account. I could set up a couple of small DDs on it and make the necessary monthly payment into it from elsewhere (I know you can't make the required monthly payment from one 123 into an another.) So the second question is, should I bother with the second 123 current account, do you think, or leave the money in the ISA? It would get 3% in the 123 whereas it's getting about 1% at the moment.
Thanks for your thoughts.

grumbler

MrsFabulous wrote: »

Question 1 - Do Santander provide a detailed breakdown of how this is calculated? I suppose it's easy enough to work it out myself, I just wondered whether they do and where I can see that.

No, they don't. It's calculated on a daily basis. How do you imagine this 'breakdown'?

Secondly, we still have some money in an ISA which is making nothing - it's just a couple of thousand or so. I am thinking of opening a second Santander 123 account. I could set up a couple of small DDs on it and make the necessary monthly payment into it from elsewhere (I know you can't make the required monthly payment from one 123 into an another.) So the second question is, should I bother with the second 123 current account, do you think, or leave the money in the ISA? It would get 3% in the 123 whereas it's getting about 1% at the moment.

You decide. 3% gross is 2.4% net. You can just transfer your ISA to a ~2% one. Extra 0.4% on £2K is just £8.
At Nationwide you can get 5% gross on £5K.

Archi_Bald

MrsFabulous wrote: »

(I also have the 123 credit card and so far I've seen no cashback figures on my statement for spends in places such as Sainsbury's petrol stations etc.)

Credit card cashback will show on your credit card statement, not your current account pne.

MrsFabulous

Thanks, both of you. I don't know how I 'imagined the breakdown' - that's why I was asking whether they do it! And I do realise the difference between the credit card statement and the current account statement, but perhaps my question could have been put more clearly, sorry for that. Thanks again to both of you for taking the time to answer.