Santander 123 question

ceredigion

Paul_1977 wrote: »

History lesson please.

Paul_1977

I am a fool for thinking a bank would prevent customers doing a run-around.

lynnejk

Hiya


Hope you don't mind if I jump in ?


Why not open one or two TSB accounts ? They require the same minimum £500 a month pay-in and pay 5% interest up to £2000. You can run and organise it all on-line.


You can then bounce the monies around to your heart's content
HTH


Lx

bjbyorkshire

Hubby and I have 2 Nationwide Direct accounts which will be 1 year old shortly so I need another home for 2 or 3k or even 5k but I really don't have any more direct debits to attach to new accounts. Do either TSB OR TESCO accounts need Direct Debits each month?


Thanks

SeduLOUs

TSB needs a £500/month pay in but no DD requirements.

Believe Tesco requires a DD or two, but can't remember exactly as I don't have one of those.

YorkshireBoy

bjbyorkshire wrote: »

Hubby and I have 2 Nationwide Direct accounts which will be 1 year old shortly so I need another home for 2 or 3k or even 5k

Presumably you also have a joint FlexDirect account? If not, why not?...because that would take care of half the money.

Do either TSB OR TESCO accounts need Direct Debits each month?

If they do they'll say so on their respective websites, either in the advertising blurb or the T&Cs. Why not take a quick look?

Archi_Bald

SeduLOUs wrote: »

Believe Tesco requires a DD or two, but can't remember exactly as I don't have one of those.

If I read Tesco's most current T&Cs correctly, they don't need any DDs. I also never needed any T&Cs for my Tesco accounts, and they always paid interest.

But don't rely on me, or any of the T&C 'believers', read the T&Cs, as they are the only source that counts.

jimjames

SeduLOUs wrote: »

TSB needs a £500/month pay in but no DD requirements.

Believe Tesco requires a DD or two, but can't remember exactly as I don't have one of those.

Tesco has no requirement for DD or pay in but I'd recommend you check rather than rely on me

lynnejk

Re TSB accounts you don't need DDs.


For the 5% accounts you must run them on-line completely, including statements and put in £500 a month - but you don't have to leave it there


If you have one of these accounts you can also open a 5% regular savings account, up to £250 a month, and can 'feed' it from your regular account or from another one or just pay in directly.


HTH
Lx

bjbyorkshire

I did read Tesco t and c today but my eyes got squiffy reading and digesting all the info. Didn't think about TSB until today.

Come to think of it we don't have a joint Nationwide direct so that could well be an option, thanks, I'll look at that tomorrow and the others. It is quite daunting when you go to different sites and try to compare the different options.

I appreciate you folks taking the time to just confirm my thoughts.