Santander 1-2-3 as a Savings Account - Is it Safe?

colsten

whattochoose wrote: »

Because I need the DD's to meet the requirements of the Santander account.

DDs are very easy to come by, as has been discussed for a very long tome on this forum.

YorkshireBoy

saver861 wrote: »

But you can transfer the DD's to the Santander Account without closing the Halifax Reward if you don't use the Switching service. I'm right in thinking there is no incentive for opening the Santander, i.e. £100 switching bonus etc so you can open the Santander account without using switch but still keep your Halifax Reward.

I read the post differently. Poster only has 3 DDs on Halifax, so can't split them 2 for each. And if they move the requisite 2 DDs to Santander - even manually as you suggest - then no Reward payment will be possible on the Halifax account, thereby rendering it useless anyway!

Then again, if they could summon up some energy from somewhere, and find their thinking cap, they could very easily get the best of both!

colsten

YorkshireBoy wrote: »

Then again, if they could summon up some energy from somewhere, and find their thinking cap, they could very easily get the best of both!

saver861

YorkshireBoy wrote: »

I read the post differently. Poster only has 3 DDs on Halifax, so can't split them 2 for each. And if they move the requisite 2 DDs to Santander - even manually as you suggest - then no Reward payment will be possible on the Halifax account, thereby rendering it useless anyway!

Then again, if they could summon up some energy from somewhere, and find their thinking cap, they could very easily get the best of both!

I was reading it the same way as you. I realise the poster has currently just got three DD's in the Halifax, but transferring two to Santander and getting another one setup on the Halifax means he has both. I'm guessing he has more than three DD's in total but even if so, as you say, can get another one set up.

As far as I am aware there is no charge at Halifax if there is not two DD's - just that he don't get the £5 for that month. However, it means the poster has additional time to setup a further DD even if it takes another month, the only loss is the £5 for that month. Better than closing the account altogether.

AnotherJoe

Even if the OP just pays say a fiver a quarter into a charity account they are still quids in. They could even pay a fiver a month to a charity of their choice at no cost to them.