Santander 123 - no interest this month

Lorian

Just got my 123 statement, and for the first time since opening its showing no interest this month.

It's been funded with £500 as shown on the statement.
It has two DD's although these haven't been used to move any funds in some time (6 months+)

Is the lack of interest because the DD's are now being considered inactive, or is there some other possible reason?

YorkshireBoy

Can you see the DDs in your online area?


Did you fund during the statement month (not calendar month), or twice within one statement month and then not at all during the next?

Stompa

When you say 6 months+, could it be 13 months+?

DDs typically become dormant after 13 months of inactivity. Are the DDs still listed on your Santander account?

Lorian

Time flies when you are having fun - was about 13 months since the DDs were last used. account says:

"You have no direct debits currently set up on this account."

At least its easy to fix, shame about the months interest. doh!

YorkshireBoy

You have no utility bills set up on there to take advantage of the cashback...which would negate the fee? That's pretty unusual.

xylophone

You have no utility bills set up on there to take advantage of the cashback...which would negate the fee? That's pretty unusual.

Perhaps not so unusual - take married couples with three accounts - all household type DDs on one account for the sake of a smooth transition on the death of one party.

Freecall

xylophone wrote: »

for the sake of a smooth transition on the death of one party.

Is death _pale_ really at the top of people's minds when doing something as mundane as paying utility bills ?

How depressing.


Maybe one of the banks should do a survey to find out. You know,


Q.
When setting up a DD, which is most important?

A.
a) Ease of use
b) Helpfulness of staff
c) Implications of death

Maybe their marketing departments are missing a trick.

colsten

Freecall wrote: »

Is death _pale_ really at the top of people's minds when doing something as mundane as paying utility bills ?

It's very prudent to be prepared for accidents or sudden illness.

brendon

I've occasionally had statements which show no interest, but two lots of interest has been included in the next or previous statement. I'm not sure when I've seen this, but it's probably something to do with weekends, bank holidays or processing delays.

xylophone

Is death really at the top of people's minds when doing something as mundane as paying utility bills ?

When you marry, you make a new will.

When you take out a mortgage you consider a life insurance policy.

In the midst of life we are in death.....

schiff

xylophone wrote: »

In the midst of life we are in death.....

As is the dormant DD