Santander123 as savings account

Gbye_grey_sky

If you are a couple, both earning, and with £60k spare you recommend setting up 3 Santander accounts. One sole each and having our individual salaries paid in to each and one joint account transferring a monthly amount over to pay DDs out of that account whilst maintaining a £20k balance in all 3.

By my reckoning that would earn 3% gross on the £60k. The 3 accounts would attract annual fees of £72 but most of that would be covered on cash back on council tax, utilities and our home bundle DD.

I know this may seem a daft question but there are constant references to Santander being limited to 2 accounts, one being joint, but I assume if you are a couple you can benefit from 3 in the way I describe. Is that right?

colsten

Three 123 accounts between two people.

eskbanker

Gbye_grey_sky wrote: »

there are constant references to Santander being limited to 2 accounts, one being joint, but I assume if you are a couple you can benefit from 3 in the way I describe. Is that right?

There are frequent references (both on here and Santander's websites) to two accounts per person (one sole plus one joint) so as you say three in total between a couple is fine.

Santander's exact wording is "One single or one joint 123 Current Account (or one of each) per person only".