Santander's 123 account

EssexExile

sevenonine wrote: »

So why don't the Santander staff whom I message with my details of pension...

Because Santander is a great bank, except for the humans who work there who know less about it's workings than most customers.

ceredigion

sevenonine wrote: »

I took the minimum of £500 to be income - perhaps I should try applying and see what happens. I already have £1,000 in the e-saver and can transfer further amounts from another BS. Thanks for your advice.

The internal transfer from your e-saver doesn't count towards the funding requirement

YorkshireBoy

sevenonine wrote: »

I took the minimum of £500 to be income - perhaps I should try applying and see what happens. I already have £1,000 in the e-saver and can transfer further amounts from another BS. Thanks for your advice.

Just so you're aware, funds transferred from another Santander account in your name don't count towards the monthly £500 funding requirement. It is detailed in the account T&Cs, but judging by the number of questions on here not many read them!


EDIT: Beaten to it by ceredigion.

grumbler

YorkshireBoy wrote: »

It is detailed in the account T&Cs, but judging by the number of questions on here not many read them!

I agree with the last part, but the first one isn't quite correct.
There is no need to check the full T&C to find that

transfers between Santander personal accounts won't count towards this

>> Full details

ceredigion

YorkshireBoy wrote: »

EDIT: Beaten to it by ceredigion!

What is with the exclamation mark. Young lad from Yorkshire.

YorkshireBoy

grumbler wrote: »

I agree with the last part, but the first one isn't quite correct.
There is no need to check the full T&C to find that
>> Full details

The T&Cs govern the account, not some summary page. For example, you can fund from another personal account...but not one in your name. You can also fund from a business account in your own name. The T&Cs clarify both of these funding options, but the account summary page doesn't. And that's why one should always read the T&Cs.

YorkshireBoy

ceredigion wrote: »

What is with the exclamation mark. Young lad from Yorkshire.

Sentence was originally longer and ended in said exclamation mark. Hasty editing on my part. Corrected now.

TomJ

Note there is nothing stopping you going to the cash machine, withdrawing 40 quid, then popping into the bank and paying it back in to the account if you don't have any accounts elsewhere to bounce the money to and from.

molerat

sevenonine wrote: »

I took the minimum of £500 to be income - perhaps I should try applying and see what happens. I already have £1,000 in the e-saver and can transfer further amounts from another BS. Thanks for your advice.

MrsM has a far lower income than you and she has held a solo 123 for over a year now (as well as a TSB and 3 BOS)

ceredigion

YorkshireBoy wrote: »

Sentence was originally longer and ended in said exclamation mark. Hasty editing on my part. Corrected now.

It is quite all right,and there was no need to edit again. Just thought " Ceredigion " might need an explanation of some sort.:D