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Is it too late to set up a DD this year to a 1-2-3 a/c?
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Kernel_Sanders
Posts: 3,617 Forumite


I opened a Santander 1-2-3 current account a few days ago. The £500 minimum funding came from a transfer from another Santander account, but I've just realized that I don't have a second direct debit set up to go out this month. How can I set one up with less than 3 banking days left, and is there anything else I need to get the 3% p.a. (I have over £1000 in it).
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Kernel_Sanders wrote: »I opened a Santander 1-2-3 current account a few days ago. The £500 minimum funding came from a transfer from another Santander account,
1|2|3 Current Account Key Facts DocumentThe £500 minimum monthly payment does not include refunded amounts from your Visa Debit card or amounts transferred into the account from another Santander account in your name (including any joint accounts).but I've just realized that I don't have a second direct debit set up to go out this month. How can I set one up with less than 3 banking days left, and is there anything else I need to get the 3% p.a. (I have over £1000 in it).
Secondly, if you don't qualify for 3% this month (it's just ~£2.50 for £1000 and full 30 days), this doesn't stop you from qualifying the next months.
And, finally, IIRC, it's a statement month at Santander, not a calendar month. A statement month starts when the account was opened.0 -
Your Santander account month is not a calendar month but starts on the date you opened/transferred your account, and then repeats on the monthiversary. So you should have plenty of time setting up another DD.
Check for all the details, incl the interest rate you get, what DDs you need and where the minimum monthly payment must come from in their Key Facts Document. (link downloads their PDF)0 -
Kernel_Sanders wrote: »I opened a Santander 1-2-3 current account a few days ago. The £500 minimum funding came from a transfer from another Santander account, but I've just realized that I don't have a second direct debit set up to go out this month. How can I set one up with less than 3 banking days left, and is there anything else I need to get the 3% p.a. (I have over £1000 in it).0
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I hope it wasn't in your name or joint:Firstly, the DD has to be active, but doesn't have to 'go out' each month.0
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I don't think your internal transfer from another santander account will count to the £500 min funding.
As the T&C's quite clearly state (excludes internal transfers)
http://www.santander.co.uk/uk/current-accounts/123-current-accountTime is a path from the past to the future and back again. The present is the crossroads of both. :cool:0 -
Kernel_Sanders wrote: »Are you certain? .
And the T&C are very clear: "Have at least two active Direct Debits".0 -
did you miss this part
To get 3% you need over £3000. £1K gets you 1% and £2K 2%.0 -
dr_adidas01 wrote: »I don't think your internal transfer from another santander account will count to the £500 min funding.As long as the other Santander account is not in your name, either single or joint, then it is OK.NotRichAtAll wrote: »did you miss this part
To get 3% you need over £3000. £1K gets you 1% and £2K 2%.0 -
Kernel_Sanders wrote: »This is odd, all these points were made on 29 December. Did you miss this part? Can I get round this by simply writing a cheque from my old RBS current a/c, then in a couple of days transferring the same amount back to RBS to cover it?
yes, you can transfer 500 from another bank and then transfer it back again
one would suggest electronic transfer rather than a cheque0
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