Santander Select changes

Newly_retired

Update to say I had the email today, and am no wiser.
I don’t plan to do anything just now.

huw01

I have just upgraded my ordinary 123 account to select, I filled in the online form over the weekend and have confirmation today once they have processed my application and the select account is now active. As I use this account to feed club Lloyds, bank of Scotland, First Direct, HSBC, Tesco accounts each month so i qualify for the other banks products I have enough going back in this account each month to qualify for the £5000 pay in. The reason I decided to upgrade is so that I can use Santander ATM machines in Portugal free of charge. Having the ordinary 123 account only qualified me for using the ATMs in Spain only free

Plus

Today I got an email inviting me to upgrade my 123 to Select. However I'm a bit puzzled because I opened a Monthly Saver the other day and that's showing as the Select rate of 5%, even though my 123 is just listed as a regular 123 Current Account so I should have the regular 3%. I also recently notice an increase in cold calls from Santander

There's also 0.05-0.1% off a Santander mortgage, which doesn't do a whole lot more than pay the Select fee. Though I wonder if it's possible to lock in the rate and then deactivate Select?

Ashen

Plus wrote: »

Today I got an email inviting me to upgrade my 123 to Select. However I'm a bit puzzled because I opened a Monthly Saver the other day and that's showing as the Select rate of 5%, even though my 123 is just listed as a regular 123 Current Account so I should have the regular 3%. I also recently notice an increase in cold calls from Santander

There's also 0.05-0.1% off a Santander mortgage, which doesn't do a whole lot more than pay the Select fee. Though I wonder if it's possible to lock in the rate and then deactivate Select?

The 5% is for 123 customers as well as Select.

EssexExile

Plus wrote: »

Today I got an email inviting me to upgrade my 123 to Select. However I'm a bit puzzled because I opened a Monthly Saver the other day and that's showing as the Select rate of 5%, even though my 123 is just listed as a regular 123 Current Account so I should have the regular 3%. I also recently notice an increase in cold calls from Santander

There's also 0.05-0.1% off a Santander mortgage, which doesn't do a whole lot more than pay the Select fee. Though I wonder if it's possible to lock in the rate and then deactivate Select?

What Select fee?

Plus

EssexExile wrote: »

What Select fee?

The £5pm fee - the same as you pay to have a 123 account.
ie could you downgrade to a 123 Lite or an Everyday but keep the Select mortgage discount?
Though I suppose the 123 cashback if you pay the mortgage out of the account probably takes care of it.

Plus

Ashen wrote: »

The 5% is for 123 customers as well as Select.

It says also '123 World' customers, but it turns out '123 World' is not yet another type of account that I don't have, but 'any kind of 123 account'. Not exactly obvious given all the '123 <something>' accounts they have.

No_6

Don't care what the colour my cards are, only it's usefulness,
my latest card is a Tesco 0% spends for ? months .

which is being filled up as quickly as possible...

mainly holidays for next year, as I haven't even paid for
2017 holidays yet.... on another 2 long 0% purchase cards.

Why spend my money when you get great offers.
Money is in savings ready to pay when needed,
in case peeps think I'm getting into debt.

JGUK

Apparently the checks for continued qualification are all automatic on the new Select accounts whereas before with the Gold accounts the only automated checks were for the 123 part of the equation.

Not sure if that helps anyone but was talking to a customer service rep on the phone about it today as I'm not sure Santander is the best place for my main account anymore.