Santander Reviews?

Jlawson118

Looking for a new account where I can earn both interest on my balance as well as earn cashback for my bills etc. I've decided in recent weeks that I'm looking to purchase my first property and therefore I'm looking to set up an account for these bills.

I just opened a Club Lloyd's account a few months ago but they pay 1.5% on balances up to £5000 whereas Santander are offering the same up to £20,000?

Santander seems to fill the criteria for me, and I'm also considering the Zero credit card to replace my Halifax Clarity.

Santander is something I do see discussed on here quite often but I'm wondering what current customers think?

YorkshireBoy

You'd almost certainly be better off keeping your cash (if you have any left after the property purchase!) where it is now, and go for Santander Lite...which offers the same cashback on your bills but for £4 less a month.

EssexExile

If you can keep £20,000 in it then the 123 is good. Some of their customer facing staff are not the best informed but that seems pretty general nowadays. You can make more interest spreading your money around but that's too complicated for me.

Jlawson118

YorkshireBoy wrote: »

You'd almost certainly be better off keeping your cash (if you have any left after the property purchase!) where it is now, and go for Santander Lite...which offers the same cashback on your bills but for £4 less a month.

EssexExile wrote: »

If you can keep £20,000 in it then the 123 is good. Some of their customer facing staff are not the best informed but that seems pretty general nowadays. You can make more interest spreading your money around but that's too complicated for me.

I don't really think I'll get to £20k any time soon anyway, especially after a home purchase! Maybe Lite will be better

Whitterbod

The lloyds account has two regular savers as well

Zero_Sum

The main santander 123 account has a £5 a month fee. Which if you have the full £20k means you're really only getting 1.2%

You'd be better off with 123 lite & stashing money in various savings accounts with better rates.

Jlawson118

Whitterbod wrote: »

The lloyds account has two regular savers as well

I've got the 5% regular saver with First Direct, should mature around January/February time

soulsaver

Tesco 3% on £3K if you can do 3 DDs.. or 1 weekly.
And you can have 2 accounts = 3% guaranteed until April on £6k .

AndyPK

Yeah Santander are a nice bank.


There are a few other banks which do crash back on household DD's. But not good on the interest side.


Natwest and Royal bank of Scotland IIRC
2% ? cashback

sal_III

A month ago I wanted to open a 123 account with Santander online. Filled in all the details - above average income, no debt and clean credit history with all CRAs. Was instantly declined with an automated message that their decision was based on my Experian credit report.

Ordered the report and it was basically what I expected - clean with 2 CCs with balances cleared in full each months and an HSBC Advance current account, some searches from insurance providers (car insurance was up for renewal). Experian score of 993 for what is worth.

Really CBA going in branch or waiting on the phone for an hour looking for explanation. Went for Starling with lower interest on the balance, but far superior customer service.

badger09

sal_III wrote: »

A month ago I wanted to open a 123 account with Santander online. Filled in all the details - above average income, no debt and clean credit history with all CRAs. Was instantly declined with an automated message that their decision was based on my Experian credit report.

Ordered the report and it was basically what I expected - clean with 2 CCs with balances cleared in full each months and an HSBC Advance current account, some searches from insurance providers (car insurance was up for renewal). Experian score of 993 for what is worth.

Really CBA going in branch or waiting on the phone for an hour looking for explanation. Went for Starling with lower interest on the balance, but far superior customer service.

It could be something as simple as a slight mismatch between the details you entered in the OLA, and those recorded by Experian.