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Julian Hodge Bank for Savings

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Comments

  • badger09
    badger09 Posts: 11,477 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    lalman wrote: »
    Whilst this thread is alive - if I put 2k into Nationwide and 2k into TSB and put D/D to each on the same day for 500 to each other - will I qualify for the 5%?

    If you mean Nationwide Flexdirect, you need to pay in £1000 per month, not £500.

    You could have £2k in each of 2 TSB Classic Plus account and transfer £500 between them every month.

    NB all these transfers will be by Standing Order NOT Direct Debit:cool: or you can do them manually by FP
  • Rang Santander first to check the criteria was met for this a/c as there is already one DD with current bank,they suggested the other dd could be a charity.
    Went to a branch and they said no, end of. Annoying.

    Back to the drawing board.
  • badger09
    badger09 Posts: 11,477 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    della11 wrote: »
    Rang Santander first to check the criteria was met for this a/c as there is already one DD with current bank,they suggested the other dd could be a charity.
    Went to a branch and they said no, end of. Annoying.

    Back to the drawing board.


    Not clear exactly what branch said no to?

    POA account?
    DD to charity?
    Something else???

    Please clarify & I'll try to help :)

    Also note Santander have a dedicated POA team:

    http://www.santander.co.uk/uk/help-support/faqs
  • The POA was okay but they said could not open an account as a DD going to a charity wouldn't be 'operating the account properly but as a savings account'.
  • badger09
    badger09 Posts: 11,477 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    della11 wrote: »
    The POA was okay but they said could not open an account as a DD going to a charity wouldn't be 'operating the account properly but as a savings account'.

    Please ignore the ill informed staff member who told you this. Sadly, every bank has some of them.

    Go ahead and open the account - though I suggest you do this through the dedicated POA team.

    The DDs will work, whether they are to a charity or not. They don't even have to be paid every month to meet the T&Cs for interest on this account - they simply have to be active.
  • I would suggest you don't discuss the DDs with them at all. You can set up any DD you like once the account has been opened.
  • della11 wrote: »
    Can anyone offer a 'review' of the Julian Hodge bank.
    I'm looking for a home for savings as ISA limit is reached for this year.

    I used them for a fixed-term savings 'bond' 7 years ago when they had very competitive rates. I had no major dealings with them but I am left with a good impression. Because of the popularity at the time, they seemed to have a backlog with new accounts and paid a few days more interest to cover the waiting time - a nice gesture. Seem to have respect for customers so I would recommend. It was some time ago though!
  • Julian Hodge a/c set up - very straight forward.

    As for Santander I'll go back to them next week, to a different branch which is no problem. Thanks everyone will update in due course.
  • della11 wrote: »
    As for Santander I'll go back to them next week, to a different branch...
    If you want to open an account using POA, you must ring to make an appointment. Allow a minimum of one hour for the visit. Take two proofs of ID for yourself and two for the donor of the power.

    You don't need to set up DDs when opening the account. You can do that later, without involving Santander's staff at all.
  • Update: I made and attended the appointment 8 days ago. We went through the POA, her proof of residency at care home, all of the required documentation was presented. It was declined on the grounds that when they did a credit search she didn't show up, but, that's because they looked against my address, which she has never lived at. They have her current and previous address history. Its gone to appeal.
    Good grief is it worth it I wonder?
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