Santander 1-2-3 still worth it?

RG2015

ValiantSon wrote: »

Thanks very much!

I hope you have a lovely Easter too.

(Did I miss something that said today was be rude to people day?).

I apologise if you found my post to be rude.

It was only meant as a jocular response having found your post to be a bit complicated.

Herbalus

RG2015 wrote: »

I apologise if you found my post to be rude.

It was only meant as a jocular response having found your post to be a bit complicated.

I got to all the numbers and my eyes glazed over. It could be a very helpful post, but it is too late to be concentrating that much on all those numbers and hypotheticals, so I confess I didnt read it all. :cool:

polymaff

ValiantSon wrote: »

(Did I miss something that said today was be rude to people day?).

Oh, the irony.

ValiantSon

polymaff wrote: »

Oh, the irony.

Another helpful contribution from you.

Please identify where I was rude to you.

missile

polymaff wrote: »

That I've no inclination to respond to such a foolish posting.

I think you just did :rotfl:

wolvoman

OP here....

Some interesting replies. It is an internet forum, so there's nothing wrong with some crystal balling.

One thing to clear up, as there do seem to be some 1-2-3 supporters here, I was talking about our 3rd account - joint account. My primary 1-2-3 account and that of my wife are still worth holding onto as there's some cashback that partially offsets the monthly fee.

So forget cashback.

This is all about whether my mortgage offset interest rate (currently 1.12%) will overtake the Santander rate (currently 1.2% with the fee).

YorkshireBoy

wolvoman wrote: »

OP here....

Some interesting replies. It is an internet forum, so there's nothing wrong with some crystal balling.

One thing to clear up, as there do seem to be some 1-2-3 supporters here, I was talking about our 3rd account - joint account. My primary 1-2-3 account and that of my wife are still worth holding onto as there's some cashback that partially offsets the monthly fee.

So forget cashback.

This is all about whether my mortgage offset interest rate (currently 1.12%) will overtake the Santander rate (currently 1.2% with the fee).

You ought to run some numbers and see if you'd benefit from closing 2 of them (maybe switching for incentives), converting the 3rd to 'Lite' (and putting all cashback generating DDs on it), and then putting the (up to) £60K in Tesco for 1.30% AER.

I think you'll find you will benefit, in terms of return.

anotheruser

The other thing to consider is whether you like the bank or not.
They might have a great account but if they stink as a company, should you support them?

I have a 123 account but getting increasingly desperate to switch. Club Lloyds looked good but can't switch a joint account and a bit too busy to mess about going down to the bank to sign a form... So it's narrowed my search.

Won't be able to get rid of Santander completely though as I have the direct debit account with them that will be hard to change elsewhere.
Although I wonder what would happen if I decided to switch that account.