Santander 123 question

Alter_ego

Wife and I (different surnames) each have a Santander 123. We also have a joint 123 (in both names of course)
Can we satisfy the £500 per month requirement by bouncing £500 back and forth between our individual accounts?

YorkshireBoy

The answer to your question may be found on page 1 of your account T&Cs...

The £500 minimum monthly payment does not include...amounts transferred into the account from another Santander account in your name (including any joint accounts).

Paul_1977

No, not at all.

eskbanker

Alter_ego wrote: »

Wife and I (different surnames) each have a Santander 123. We also have a joint 123 (in both names of course)
Can we satisfy the £500 per month requirement by bouncing £500 back and forth between our individual accounts?

If by individual accounts you literally mean the sole ones then yes, that complies with the Ts & Cs quoted above, so you just need to use a different way to fund the joint one.

ceredigion

Paul_1977 wrote: »

No, not at all.

Run that past me again paul, You are obviously on a different wave length to me

Paul_1977

ceredigion wrote: »

Run that past me again paul, You are obviously on a different wave length to me

Santander allow you to bounce money from one Santander account to another, and still earn interest. WOW:money:

I assumed they would not.

Alter_ego

eskbanker wrote: »

If by individual accounts you literally mean the sole ones then yes, that complies with the Ts & Cs quoted above, so you just need to use a different way to fund the joint one.

Yes I did mean the sole A/Cs, Hope you're right.
Perhaps I shouldn't have mentioned the joint one, it seems to have clouded the question for some.

Alter_ego

Paul_1977 wrote: »

Santander allow you to bounce money from one Santander account to another, and still earn interest. WOW:money:

I assumed they would not.

The question referred to sole accounts in different names. The T&Cs don't cover it, except accounts in same name.

YorkshireBoy

Alter_ego wrote: »

The question referred to sole accounts in different names. The T&Cs don't cover it, except accounts in same name.

Yes they do. I've posted the relevant excerpt above. There is only one exclusion to the £500 funding...and that's from any other Santander personal account with your name on it, ie be it sole or joint. You can even fund with £500 from a Santander business account in your name.

ceredigion

Paul_1977 wrote: »

Santander allow you to bounce money from one Santander account to another, and still earn interest. WOW:money:

I assumed they would not.

A quote by Abraham Lincoln springs to mind.

Paul_1977

History lesson please.