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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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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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  • grumbler
    grumbler Posts: 58,629 Forumite
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    edited 29 December 2014 at 2:52PM
    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,
    I hope it wasn't in your name or joint:
    1|2|3 Current Account Key Facts Document
    The £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).
    Firstly, the DD has to be active, but doesn't have to 'go out' each month.
    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.
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
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    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)
  • molerat
    molerat Posts: 34,492 Forumite
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    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).
    To get 3% you need over £3000. £1K gets you 1% and £2K 2%.
  • Kernel_Sanders
    Kernel_Sanders Posts: 3,617 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 9 January 2015 at 6:19PM
    grumbler wrote: »
    I hope it wasn't in your name or joint:
    It was, and I haven't switched my main income source to this a/c in time. 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?
    grumbler wrote: »
    Firstly, the DD has to be active, but doesn't have to 'go out' each month.
    Are you certain? The reason I ask is I applied electronically to MDC to have my Council Tax switched to DD on 30 December, expecting it to go out on 1st or 2nd of Jan, but they've written and rescheduled the whole balance to start on 1 Feb. It's showing as scheduled on my online dashboard thingy, though.
  • dr_adidas01
    dr_adidas01 Posts: 2,155 Forumite
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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-account
    Time is a path from the past to the future and back again. The present is the crossroads of both. :cool:
  • grumbler
    grumbler Posts: 58,629 Forumite
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    Are you certain? .
    Yes, I am.
    And the T&C are very clear: "Have at least two active Direct Debits".
  • did you miss this part

    To get 3% you need over £3000. £1K gets you 1% and £2K 2%.
  • I don't think your internal transfer from another santander account will count to the £500 min funding.
    molerat wrote: »
    As long as the other Santander account is not in your name, either single or joint, then it is OK.
    did you miss this part
    To get 3% you need over £3000. £1K gets you 1% and £2K 2%.
    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?
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
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    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 cheque
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