Santander 123 at 4%?

Shazwellyn_Smith

Hi All, I heard Martin recently on the radio how a customer of Santander got 4%on his 123 account when threatened to leave. I spoke to them regarding this matter and asked for a match. They said that if I could prove this, under their fairness to all customers, this would not only be open to me but all customers who asked. I thought this information useful to you and hoped you might be able to help me prove this. Anyone's comments would be greatly appreciated, Sharon 🙂

EachPenny

You'll need to ask Martin to ask the customer to identify themselves so we can all use his name in our requests to Santander.

Unfortunately I think the chances of that happening are very slim.

Edit: I wasn't aware Santander had a 'fairness to all' policy

xylophone

4% on the 123 current account?

Was it ever more than 3%?

And a number of customers did leave after the rate dropped from 3% to 1.5% - Santander didn't rush to bribe them not to go?

colsten

xylophone wrote: »

Was it ever more than 3%?

No it wasn't

colsten

Sounds to me as if someone is terribly confused. They probably were offered a Regular eSaver, which, IIRC, was 4% AER for a very short period of time. That was before all existing 4% Regular eSaver accounts got automatically upgraded to 5% AER. No threats of any sort involved, and I doubt that there would be any bank or Building Society in the country who would let themselves blackmail into paying a retail customer a higher interest rate.

The other alternative is that the person wasn't simply bragging but telling an outright lie.

Zanderman

I agree with Colsten's response above - the story just doesn't ring true. Banks don't operate like mobile phone companies, they don't offer 'special deals' to keep your account. It doesn't happen.

So this story, of Martin apparently telling how someone persuaded a special deal on a 123 account - for 4% (even at their peak 123 accounts never offered that much!) - seems very very very unlikely to be true.

Far more likely to be someone misunderstanding what was being said. Not least because IF Martin really said this on the radio it would be all over his weekly emails too. If true it would be a mega story!!

So I doubt it's true. And as it's a first post recounting an unlikely story it does raise the usual concerns in these circumstances...

Perhaps the OP could tell us what radio programme this was on and when? And whether it is available on catch-up?

ceredigion

Shazwellyn_Smith wrote: »

Hi All, I heard Martin recently on the radio how a customer of Santander got 4%on his 123 account when threatened to leave. I spoke to them regarding this matter and asked for a match. They said that if I could prove this, under their fairness to all customers, this would not only be open to me but all customers who asked. I thought this information useful to you and hoped you might be able to help me prove this. Anyone's comments would be greatly appreciated, Sharon 🙂

Bunkum
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