Santander Select

Aniolad

I did have to post in two separate threads as there are two separate threads. Perhaps merging the threads would be of more benefit.
As for preferential rates ring up and find out. Im reading lots 'on the two separate threads' that we seem to be offered preferential rates and that was what was promised to me.
as for the Select manager I spoke to about my wife not being a Select customer the Girl who i believe was called Laura advised she can add her onto it as I was her husband and a Select customer.
Im happy with the service, I have had issues with many banks including santander and previously had serious issues with the lack of ownership with dealing with my complaints and since being a select customer since june 2013 had everything delt with efficiently, and promptly. Interest rates although low is understandable. Until the Government dictate that the industry is in a stronger position i won't expect any fantastic offers of outstreched interest rates. I believe the big banks are more concerned in lending at present. Im sure this is something your aware of. Im just happy with a half decent service with people who appear to care and do things when i need them to.
As for the as what question again i suggest calling and asking one of the experts or go to the website that is separate. I'm sure if questions arise you'll get an answer from them.

colsten

Aniolad wrote: »

As for preferential rates ring up and find out. Im reading lots 'on the two separate threads' that we seem to be offered preferential rates and that was what was promised to me.

You are the first one who said preferential rates are available. What preferential rates were you offered / promised? Savings? Loans? Mortgages? Insurances? Exchange rates? Other?

Aniolad wrote: »

I did have to post in two separate threads as there are two separate threads. Perhaps merging the threads would be of more benefit.

you don't have to post in both threads.

Aniolad

I wasn't advised specifically but was given an example of a recently launched Early ISA that guaranteed the highest rate on a fixed ISA if the rates go up over the tax year end. It was launched prior to me becoming a Select customer and that was an example of an exclusive that they could have offered me.
I haven't had the need to call them recently to find out about any new offers or rates due to most of my finances already being locked away here there and everywhere. looking at the website I can see loan rates and mortgage rates that seem to be lower than the main website. But I don't currently require any lending which as I suspect is what the major banks are focussed on at this time.
What confused me and maybe you might know prior to me asking the next time I call, is that a friend of mine in my local social club who also appears to be in Select seems to have a Select relationship manager who he can contact directly and exclusively. Is this maybe an additional add on that we can opt for or is there further criteria we need to qualify. I can't seem to find anything on their website to verify and confirm this. Personally however I feel this may be a limited service and may not just be as quick to deal with than the telephone number.

mgarl10024

I paid a cheque in yesterday and was invited to come back today for a meeting with a Select relationship manager.

I think it will be a bit pointless, but as I work a 2 min walk from the branch I thought 'why not'.

Can't see what they're gonna offer me. http://www.santanderselect.co.uk/ suggests
- a gold debit card - maybe worth having for the higher limit (although cash withdrawals of over the old limit (£300?) are rate
- a marginally better ISA rate? - but there are better things elsewhere
- a marginally better mortgage rate? - I have mine elsewhere on a lifetime tracker so wont be switching
- some small offer on their 123 Credit Card - which I wont have because of the fee (and I think there are better things elsewhere).

I await my lunchtime appointment with interest.

colsten

mgarl10024 wrote: »

- some small offer on their 123 Credit Card - which I wont have because of the fee (and I think there are better things elsewhere)

The offer you will get on the 123 CC is the same offer everyone else has - first 12 months free for 123 current account holders.

I would say the CC is definitely worth it for the first 12 months if you spend any money in the places they give cashback. Especially if you need petrol or by train/TFL tickets, the card easily pays for itself.

You would need another card for purchases in places where the 123 CC doesn't pay cashback.

Out of interest, which better things are there elsewhere? I'm always interested in better deals.

Looking forward to your report from the meeting today!

mgarl10024

mgarl10024 wrote: »

- some small offer on their 123 Credit Card - which I wont have because of the fee (and I think there are better things elsewhere).

colsten wrote: »

Out of interest, which better things are there elsewhere? I'm always interested in better deals.

Being totally honest - I've not done the maths and I'm not an expert. Let me have a stab.

I'm a slow stoozer. I spend on 0% cards, max them out, and then hold the balance until BT'ing elsewhere. Meanwhile, the money is in an account earning interest.

Let's assume I get the card and they give me a 5k limit.

The card offers cashback.
1% cashback at all major supermarkets - I'd use this. Lets say that half of my outgoings are food shopping. That's 1% on £2500 (5k limit / 2) - so £25 up.
2% cashback at all major department stores - would be rare.
3% cashback at all major petrol stations, and on National Rail and Transport for London travel (on combined spend of up to £300 a month) - I bus to work and don't live near the Capital, so would be rare.

I do have a 123 Account so I'll be generous and ignore the first year's fees. But I do need to pay the 2nd years fees (11mths - £22) - so that effectively eliminates the £25 cashback.

So, for me and my usage, it is just a 0% card for 23mths.

Clydesdale do a 0% card for 20mths with no fees.

So, having relooked, I'll accept it isn't all that bad and that I was probably put off psychologically by the fees (thinking I'd earn just 9mths of cashback (until it was maxed) and then 23mths of fees.

However, I still don't think it is massively better than other offers out there. Of course, with a greater limit, and if I have underestimated my food shopping bill, perhaps it isn't so bad after all....

mgarl10024

Also forgot to mention there's another £13.12 available - http://www.topcashback.co.uk/santander/

mgarl10024

Well, largely pointless I'd say.

I went in and the lady talked a bit about the "Select" service - being personalised etc. She then handed me her business card with her email address on it (could be useful) and a telephone number for Select (which was supposed to be quicker/easier than the standard lines).

She asked what I knew about Select, and I said that I'd been on santanderselect.co.uk. I suspect that this massively shortened the meeting as while she was delighted, I think the idea of the meeting was to run through that site.

We ordered my Gold visa card while she talked of the benefits (bigger withdrawals and free cash withdrawals overseas from a Santander cash point).

She talked about the 123 Credit Card - showing that it is excellent for Balance Transfers (0%, 0 fee), and she pointed me in the direction of the online cashback calculator.

She then started to wrap up the meeting. I asked about Savings Products and she agreed that things weren't great. I told her that I wasn't interested in further cash ISA subscriptions and that the 1.7% rate on the santanderselect.co.uk site for a new 2yr fix was measly. She said to disregard that rate and wait for ISA season (mid March) when Santander would announce its new rate. I'm not sure I'll be holding my breath!

While I was in the branch there was an older gentleman in there. He asked about something and it could only be done online. The advisor at the desk said "log on here and I'll show you how to do it", and that advisor must have had the patience of a saint. For example, after two failed log in attempts, the advisor said "it's asking for your *fathers* middle name" and the customer finally logged in (after about 10 minutes of trying).
It occurred to me at that moment that perhaps the point of these Select meetings are
- less about advertising new products that we don't already know about (and risking p'ing off customers who aren't Select)
- more about helping to resolve issues and to guide customers like this gentleman, who, I'll assume (maybe wrongly) doesn't have his accounts in the best configuration for his needs and requires a little help from somebody face-face and not on the end of the phone.

Hope this is useful,

BigBelly

I am one of the 'selected', but don't have a mortgage with them and only have the (effective) maximum £20,000 balance in the 123 current account. I would have thought anyone with a few thousand and one other bank account could qualify simply by shuffling their money between the two accounts so that it looks like they are paying in more than £5,000 per month. You would have thought that banks would be smart enough to figure out that people are just moving money around rather than having a high income.

Steve_xx

BigBelly wrote: »

I would have thought anyone with a few thousand and one other bank account could qualify simply by shuffling their money between the two accounts so that it looks like they are paying in more than £5,000 per month.

Yes I'm sure you are correct in your thought.