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Three Santander 123?

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Is there any rule that says I cannot have three 123 accounts? I have 6 direct debits, and I can transfer £500 into each one every month.

Bundly

PS I tried five times to search the forums for "123" and for "Santander", and every time got an error message, so apologies if this has been asked before.
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Comments

  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    1|2|3 Current Account Key Facts Document

    The very first paragraph.
  • bundly
    bundly Posts: 1,039 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    edited 31 January 2016 at 2:06PM
    Ahh... at last I have managed to get that PDF to open, having tried many times already today.

    "You may only hold a maximum of two 123 Current Accounts, one in your name and one in joint names."

    Well that is funny, because I already have two and they are both in my sole name. I've had both for ages... two or three years now. I guess they must have changed the rules.

    Oh well, shame, cos I cannot get 3% anywhere else. Boo hoo.
  • Hasbeen
    Hasbeen Posts: 4,404 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    bundly wrote: »
    Ahh... at last I have managed to get that PDF to open, having tried many times already today.

    "You may only hold a maximum of two 123 Current Accounts, one in your name and one in joint names."

    Well that is funny, because I already have two and they are both in my sole name. I've had both for ages... two or three years now. I guess they must have changed the rules.

    Oh well, shame, cos I cannot get 3% anywhere else. Boo hoo.


    They allow 3 accounts

    One in your name

    One in partners name

    One in both joint names
    The world is not ruined by the wickedness of the wicked, but by the weakness of the good. Napoleon
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    bundly wrote: »
    Oh well, shame, cos I cannot get 3% anywhere else. Boo hoo.
    So you've already got:

    Nationwide FlexDirect
    TSB Plus
    Club Lloyds
    3 x Bank of Scotland Vantage
    2 x Tesco

    ...as well as 2 x Santander 123?

    And the 4-5% regular savers from Nationwide, TSB, and Lloyds taking £1,150 a month?

    And there's only one of you?...ie no joint account opportunities?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Hasbeen wrote: »
    They allow 3 accounts

    One in your name

    One in partners name

    One in both joint names
    3 between 2 then, surely?

    So each party can have one sole plus a joint, which is what it says.
  • Hasbeen
    Hasbeen Posts: 4,404 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    edited 31 January 2016 at 2:20PM
    3 between 2 then, surely?

    So each party can have one sole plus a joint, which is what it says.

    Yes 3 accounts, if one joint

    If Op has managed two account in his own name/address etc?

    Then he could possibly open joint with other if agreeable as well?
    The world is not ruined by the wickedness of the wicked, but by the weakness of the good. Napoleon
  • bundly
    bundly Posts: 1,039 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    What a coincidence Yorkshire -- I sent you a PM and then you replied to my thread!

    No, I am a solo investor. No chance of joint accounts.

    Thanks folks for that list. I will go and investigate which one(s) I can have (i.e. that I can satisfy the rules to qualify)

    I already have a Nationwide current account so that must be the first one to investigate!

    Bundly
  • And the 4-5% regular savers from Nationwide, TSB, and Lloyds taking £1,150 a month?

    You forgot HSBC, FD & M&S regular savers, too.
  • bundly
    bundly Posts: 1,039 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    edited 31 January 2016 at 2:25PM
    Ah the TSB and the Nationwide ones are capped at £2k/ £2,5k.

    Lloyds and BoS are up to £5k.

    HSBC is only up to £3k.

    I need somewhere to stick (at least) £17k. I am averse to the "fiddliness" of having loads and loads of accounts. I have four already and that is getting hard to cope with!
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 31 January 2016 at 2:26PM
    You forgot HSBC, FD & M&S regular savers, too.
    I didn't forget them. I chose not to mention them. ;)

    Reason being they all require wasteful, ie non-productive, current accounts to get at the 6% regular savers, whereas the 3 I did mention are 2 for 1 on account management being as the current accounts offer decent interest too. :)
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