No interest (or fee) 6 weeks after opening 123 a/c

Kernel_Sanders

I opened a joint Santander 123 a/c on 10 August and set up two direct debits early in September (neither of which are due yet). Although concerned that the payees may not have informed Santander in time, I am encouraged that no £2 fee has yet been collected. The account has had over £3000 in it continuously. If all is well, then it seems a little odd for an account whose month starts from the date of opening.

Ballard

Presuming that you have online access to your account you can check the direct debits on the account. Check the line under the red Santander banner on the main page. It's not going to answer all of your questions but it might point you in the right direction.

You might just have to contact them for the definitive answer.

Steve_xx

Kernel_Sanders wrote: »

I opened a joint Santander 123 a/c on 10 August and set up two direct debits early in September (neither of which are due yet). Although concerned that the payees may not have informed Santander in time, I am encouraged that no £2 fee has yet been collected. The account has had over £3000 in it continuously. If all is well, then it seems a little odd for an account whose month starts from the date of opening.

......I take it that you're certain that the account opened is a 123 account, and not their Everday account?

Archi_Bald

Kernel_Sanders wrote: »

I opened a joint Santander 123 a/c on 10 August and set up two direct debits early in September (neither of which are due yet). Although concerned that the payees may not have informed Santander in time, I am encouraged that no £2 fee has yet been collected. The account has had over £3000 in it continuously. If all is well, then it seems a little odd for an account whose month starts from the date of opening.

Were at least £500 paid in during the statement month, from an account not in the name of either of the account holders?

Steve_xx

Archi_Bald wrote: »

Were at least £500 paid in during the statement month, from an account not in the name of either of the account holders?

I see your point but it wouldn't explain the absence of the £2 monthly account charge.

Kernel_Sanders

Archi_Bald wrote: »

Were at least £500 paid in during the statement month, from an account not in the name of either of the account holders?

Steve_xx wrote: »

I see your point

Now you're getting me worried :eek:
Where does it state that the funds have to come from a third party?

chris_m

Kernel_Sanders wrote: »

Now you're getting me worried :eek:
Where does it state that the funds have to come from a third party?

santander.co.uk/legal - Key Facts document, section 4;

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).

Kernel_Sanders

chris_m wrote: »

santander.co.uk/legal - Key Facts document, section 4;

Now there's a third person trying to get me worried!
Try reading the posts properly. I'll repeat, Where does it state that the funds have to come from a third party?
'Third party' means someone else other than myself or my mother.
Your quote only refers to one bank out of many.

Steve_xx

Kernel_Sanders wrote: »

Now there's a third person trying to get me worried!
Try reading the posts properly. I'll repeat, Where does it state that the funds have to come from a third party?
'Third party' means someone else other than myself or my mother.
Your quote only refers to one bank out of many.

Whatever you'd like it to mean is irrelevant.

What it means in the case of Santander is that if you have an account and a joint account where both show up simultaneously when you log in then you will NOT satisfy the monthly £500 deposit requirement by moving funds between the two.

Kernel_Sanders

Steve_xx wrote: »

Whatever you'd like it mean is irrelevant.

What it means in the case of Santander is that if you have an account and a joint account where both show up simultaneously when you log in then you will NOT satisfy the monthly £500 deposit requirement by moving funds between the two.

Where have I stated (or even implied) that the funding came from a Santander account?

Steve_xx

Kernel_Sanders wrote: »

Where have I stated (or even implied) that the funding came from a Santander account?

I didn't say that you had implied anything. I was reiterating what the rules for deposits with Santander are.

What exactly is your question? Do you think you would be better to contact Santander about this?