Santander 123, Questions?

neil324

Can you pay in £500 from an external account by faster payment then pull it back the same day.

bsms1147

To fund the account? Sure. But unless you're getting more interest on that money or there is a reason you need the money in the other account (to cover outgoing commitments, for example) it makes more sense to leave it in the 123.

ColdIron

2010 wrote: »

Quickie
When setting the SO for the 123 account, is it better to set it for every four weeks rather than say, the 2nd of every month?

I'm sure you've worked it out by now but you do realise that if you made a payment every 4 weeks you'd make 13 payments a year?

2010

Looking at my account, I can`t actually see the date it was opened but I applied on 25th Feb and got an acceptance email the next day saying:


"your application was successful and that we've opened your account for you".


Then of course I had to wait for debit card and security info to finally fund and set up online banking yesterday.
So can I assume that the 26th Feb is the start of my monthly cycle?

Archi_Bald

You shouldn't assume - call Santander and ask. Or wait until you get your first statement - that will be dated on the monthiversary of your account opening.

Casciana

Santander are advertising a higher rate 2 year Fixed ISA at 2.3% for 123 account holders, does this mean that if you hold a joint 123 account that both parties can open this ISA?

Herbalus

Casciana wrote: »

Santander are advertising a higher rate 2 year Fixed ISA at 2.3% for 123 account holders, does this mean that if you hold a joint 123 account that both parties can open this ISA?

Yes. Why not? You're both customers.

2010

I`ve gone for paperless statements on my 123 accounts.
I can see my latest statement and can download the transactions but it`s not the equivalent of the paper bill.
I assume these would come under E documents and would maybe take a day of two to produce.
Is this correct?

molerat

The "paper statement" in PDF format comes out 1 - 4 days after the "monthiversary" date.

ManAtHome

And they send you an email when it's viewable.