Can you have two Santander 123 accounts?

cslogg

As subject says,looking at the option of having either one for me and one for wife or one joint and one sole.To take advantage of the 3% interest.

cslogg

ManAtHome

Yes, you can have 1 sole and one joint, so could have 3 between you. They all need a couple of DDs and funding of at least £500 monthly from a non-Sanatander source.

tom9980

ManAtHome wrote: »

Yes, you can have 1 sole and one joint, so could have 3 between you. They all need a couple of DDs and funding of at least £500 monthly from a non-Sanatander source.

You can have two in sole name. So four between two people is better than three using your method.

ColdIron

tom9980 wrote: »

You can have two in sole name. So four between two people is better than three using your method.

Not anymore you can't, it changed a couple of months back

cslogg

I just want the two.

Organist

Yes you can we have two in joint names

Sc00ter1

Just wonderd what non Santander source meant. If you draw £500 out cash per month, and then pay in to your other account each month, this is not strictly a Santander source is it?

eskbanker

Sc00ter1 wrote: »

Just wonderd what non Santander source meant. If you draw £500 out cash per month, and then pay in to your other account each month, this is not strictly a Santander source is it?

Santander are slightly ambiguous on the exact definition - the high-level product info page states:

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

but the detailed Ts & Cs (in the interest rates leaflet) state:

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

Either way round, cash is fine, albeit a cumbersome way of doing it!

scragend

eskbanker wrote: »

Santander are slightly ambiguous on the exact definition - the high-level product info page states:

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

but the detailed Ts & Cs (in the interest rates leaflet) state:

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

Either way round, cash is fine, albeit a cumbersome way of doing it!

I would have thought that the second one makes more sense - i.e. it can be from another Santander account as long as it is somebody else's.

Suppose you worked for an employer who just happened to bank with Santander? Under the first definition, you could have your salary paid into your 123 account but it wouldn't count. Harsh!

cslogg

Went into local branch today and was informed that you cannot have two joint accounts but can have one joint and two personal,one for me and one for wife.

YorkshireBoy

cslogg wrote: »

Went into local branch today and was informed that you cannot have two joint accounts but can have one joint and two personal,one for me and one for wife.

There was no need to visit branch*. Your question is answered on their website, just ONE click away from their home page?...

One single or one joint 123 Current Account (or one of each) per person only.

http://www.santander.co.uk/csgs/Satellite?c=Page&canal=CABBEYCOM&cid=1237892266671&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_ViewSelector

Their bold, not mine!


* When visiting branch you run the risk of getting duff information, so wherever possible you should take your information from the written word. For example, someone on the Club Lloyds thread was informed in branch that the £1,500 monthly credit had to come from outside the organisation, ie couldn't be internally funded from another Lloyds account. This is clearly incorrect, as it's not mentioned in the T&Cs, but they were still told it had to be new money.