Santander 123 account

pinkcloud

I have a Santander 123 account and pay all my Direct Debits from it.

Can someone please tell me how to get cashback from it because I am not and cannot see how to.

Thanks

heol

There's an article on the right about Santander

pinkcloud

Thanks but I couldn't see how to get the cashback

rowla

You get it automatically if you fulfil the account's requirements & have qualifying direct debits setup. Suggest reading the information on the Santander website.
There is actually a "Where can I get cashback" link - http://www.santander-products.co.uk/banking/calculator/cashbacksearch.html

Cashback Calculator - http://www.santander-products.co.uk/banking/calculator/123ca.html

pinkcloud

Very many thanks. Just what I needed.

pinkcloud

When is the cashback made please? Is it monthly or annual?

Thanks for help

alexmi

Monthly on the "monthiversary" of you taking your account out, e.g. if you took it out on 15th September you will get cashback on 15th of each month thereafter.

pinkcloud

Thanks.

If I put the £20,000 I have in a Santander e-saver earning ½% into my 123 account I'd be doing much better?

badger09

pinkcloud wrote: »

Thanks.

If I put the £20,000 I have in a Santander e-saver earning ½% into my 123 account I'd be doing much better?

Is 3% better than 0.5%?

Obviously there is also the account charge to factor in, but what do you think?

pinkcloud

I've just read somewhere that the 123 interest is only on money paid in to Santander and not funds transferred within Santander.

So I don't know. I ask because I'm new to this and don't know anything about it.

YorkshireBoy

pinkcloud wrote: »

I've just read somewhere that the 123 interest is only on money paid in to Santander and not funds transferred within Santander.

Nearly right! One of the requirements for ANY interest at all (and also cashback on qualifying DDs) is that you fund the account with at least £500 per statement period. This money cannot come from another personal Santander account in your name, either sole or joint, although it can come from a Santander business account in your name.

So I don't know. I ask because I'm new to this and don't know anything about it.

Every one of your questions asked so far is answered on their website, either in the FAQs or the account T&Cs. May I respectfully suggest you ought to read them...especially since you already have the account, not just considering opening it.