Santander 123 Cashback card question

therivierakid

My wife and I have recently got the 123 Cashback card and have instantly been charged the £24 annual fee. I have set up a DD from our 123 current account to repay the full amount but does anyone know when the £24 fee is refunded?

TIA.

pjread

From memory, something like "within 30 days of DD setup". Should say in the terms and conditions you got?

Hominu

The annual fee charged for the first year will be refunded to your 123 Credit Card account within 21 days from the later of (i) activating your card and/or (ii) setting up the Direct Debit from your 123 Current Account.

redkenny

I got another question I can't find the answer to via the search function.

I'm coming to the end of the free first year. I've earnt about 4 quid in the last month, but am planning to cancel the card and use luma cards (wife and I) instead.

If I cancel before the 12 months I think I'll lose the 4 quid I've already earnt as next bill after anniversary, but if I wait for the next bill I'll be charged £24. If I cancel after 13 months of having the account will I get any of my £24 annual fee back?

jonesMUFCforever

redkenny wrote: »

I got another question I can't find the answer to via the search function.

I'm coming to the end of the free first year. I've earnt about 4 quid in the last month, but am planning to cancel the card and use luma cards (wife and I) instead.

If I cancel before the 12 months I think I'll lose the 4 quid I've already earnt as next bill after anniversary, but if I wait for the next bill I'll be charged £24. If I cancel after 13 months of having the account will I get any of my £24 annual fee back?

No you wont.

gizz_mo

I have just come to the end of my first year and received the letter that says I will be charged the £24 fee in Jan. I rang them up and asked them what happens if I cancel in Feb, they said the unused part of the annual fee will be refunded and you only pay for the months you actually had the card. They said if I cancel before the annual charge is applied then I won't have to pay it even though technically i am already into my second year.
I am trying to figure out if its worth keeping it. Or does anyone know if there is a loyalty department that might decide to waive the annual fee if you say you are leaving because of it?

macgyver

gizz_mo wrote: »

I have just come to the end of my first year and received the letter that says I will be charged the £24 fee in Jan. I rang them up and asked them what happens if I cancel in Feb, they said the unused part of the annual fee will be refunded and you only pay for the months you actually had the card. They said if I cancel before the annual charge is applied then I won't have to pay it even though technically i am already into my second year.
I am trying to figure out if its worth keeping it. Or does anyone know if there is a loyalty department that might decide to waive the annual fee if you say you are leaving because of it?

That's what I was looking for as I have been charged the £24 fee after the completion of 1st year with them, which I found out when I was checking my statements as to when my first year is up.
I am going to give them a call and cancel the cad and ask them to refund part of the annual fee.

Edit:
Just spoke to them and the lady confirmed that I will be refunded the annual fee for the months I have not used the card when I close my account.
But I had £200 balance on my account and it has to be paid off before they can close it. So will pay off the balace and the call them again to close the account.

HTH

fd1972uk

Ahhh, so must you have a Santander Bank Account to get the refund?


TIA


FD

macgyver

fd1972uk wrote: »

Ahhh, so must you have a Santander Bank Account to get the refund?


TIA


FD

No you do not.

Update:
Called up and cancelled the card and she asked for an account to transfer the £22 and the money has already appeared in my HSBC account.

HTH