Santander 123

markyb12

Was thinking of opening a 123 account but just realised that interest has been halved to 1.5 % for savings
I've been with nationwide for over 30 years
I only have 2 direct debits as my missus has the others in ther name but I can put 20k in upon opening it
I know I could invest in something else long term and I've about 50k spare to do that but I'm worried about locking it away in case of emergencies
If I open a 123 with switch will it close my nationwide
I do have 2 accounts and several virtual accounts and would like to keep nationwide going

missile

You have £20+K in NW current account?:eek:
You do know there is a monthly charge for 1/2/3 account?

Please be advised>
You can use the 1/2/3 current account calculator to estimate how much you could earn. http://www.santander.co.uk/info/current-accounts/123-current-account-cashback-and-interest-calculator
You do not have to switch to open 1/2/3 account / close NW accounts if you switch.
You can open new NW account if you wish.

markyb12

I'm aware of the monthly fee of £5
with my direct debits and 20k savings it gets me about £261 after fee taken out,
best i can do with nationwide is 5% on 2,5k for 12 months.
or maybe more with the various accounts they offer.
if i switch will it close my nw account

YorkshireBoy

markyb12 wrote: »

best i can do with nationwide is 5% on 2,5k for 12 months.

£7.5K...remember there are two of you so 3 accounts between you.

or maybe more with the various accounts they offer.

Yes, another £400 in referrals between you, at £200 each. Plus 2 x 5% regular savers. Drip feeding from some 3% (soon to be 2%) BoS Vantage accounts will get you an aggregate 3.5%+ on the other £12K. Why are you even looking at Santander!?

markyb12

were not married and don't have any joint accounts ,
when you say 7.5 over 3 accounts are you ssaying 2 individual accounts and a joint one

YorkshireBoy

markyb12 wrote: »

were not married and don't have any joint accounts ,
when you say 7.5 over 3 accounts are you ssaying 2 individual accounts and a joint one

yes........

markyb12

whats the referrals
ill take a look at the bos vantage cheers

YorkshireBoy

markyb12 wrote: »

whats the referrals

Presumably you don't bank online with them? If you do, have you never noticed 'refer a friend' messages online or clicked the 'my offers' link?

All is explained on their website. Just type the word 'refer' in the search box.

markyb12

i do bank online but never really looked at the offers. although i don't think they show much on the phone apps

pollypenny

We have Santander 123 and Nationwide accounts. In addition, I have two TSB accounts, a Halifax Reward and a Tesco account.

Just play the game.

missile

markyb12 wrote: »

...
if i switch will it close my nw account

As I said, you do not have to close NW account to switch. :beer: