Marcus is live!

Zero_Sum

AnotherJoe wrote: »

My £60 fee is pretty much negated by the cashback I get.
To be fair, if this and 123 was coming out now I'd go for this since its much less hassle, but now all the 123 DDs are setup its too much hassle to switch (plus who knows what will happen in a years time for this except that the rate will decline)

But you'd get an extra £48 cashback on the lite version. The reality is, you ain't really getting 1.5% on your 123 account . If you have full £20k in you're getting 1.26% if you have £5k in, you're only getting 0.5%

Alexland

Zero_Sum wrote: »

But you'd get an extra £48 cashback on the lite version. The reality is, you ain't really getting 1.5% on your 123 account . If you have full £20k in you're getting 1.26% if you have £5k in, you're only getting 0.5%

The Santander Select 123 account has other benefits not on the Lite account such as the shiny gold debit card, better access to cash (useful for paying the trade...) and best of all those ever so nice 24x7 Select people for whom nothing is too much trouble.

https://www.santander.co.uk/uk/select/products/select-current-account

Alex

cashbackproblems

SO EASY to open!! Other banks could learn a thing or two but when its linked to GS you dont expect much else

Dont keept much in cash but this is a good way to save and forget

ColdIron

Alexland wrote: »

I am with AnotherJoe on this one. The cashback on our bills more than covers our 123 joint account fee
Alex

AnotherJoe wrote: »

My £60 fee is pretty much negated by the cashback I get.

I agree but you would receive the same cashback with the Lite account for £48 less thus it can be removed from the equation, leaving 1.5% with Santander or the vampire squid

If your emergency fund was £20,000 the point is moot, if it was £5,000 or £50,000 the equation changes

I still have a Santander 123 (having closed the 2nd one last year as it became uneconomic) and its main benefit to me is as a hub for standing orders to satisfy monthly payment requirements for other accounts, it's the only one big enough to be hassle free. But beyond that but it's touch and go as a viable account

Marcus doesn't look good enough to be worth bothering.

We all need to do our own maths (not math, an awful import). As I say, when compared to the Santander account the difference is £48. As ever, horses for courses

Zero_Sum

Alexland wrote: »

The Santander Select 123 account has other benefits not on the Lite account such as the shiny gold debit card, better access to cash (useful for paying the trade...) and best of all those ever so nice 24x7 Select people for whom nothing is too much trouble.

https://www.santander.co.uk/uk/select/products/select-current-account

Alex

Each to their own, but dont think those benefits are worth the extra £48.
A shiny card isnt really a benefit.
Access to cash is easy if you have a few bank accounts
I honestly cant recall that ive ever phoned a bank customer services, or had an issue that couldnt wait until normal working hours.

Zero_Sum

cashbackproblems wrote: »

SO EASY to open!! Other banks could learn a thing or two but when its linked to GS you dont expect much else

Dont keept much in cash but this is a good way to save and forget

Reading the T&C's it says making a deposit can only be done by posting a cheque or making bank transfer. That's an awkward way of doing it. I'd prefer to do it by either debit card or direct debit.

Alexland

Zero_Sum wrote: »

A shiny card isnt really a benefit.

But have you seen how shiny it gets under the spotlight in a pub when you are trying to get served? Flash of the card, friendly eye contact and a gentle sympathetic smile gets you next in the queue. Especially if you are a dashingly attractive. The card means I get served after that guy.

Alex

ColdIron

Perhaps you need a Monzo card
https://forums.moneysavingexpert.com/showpost.php?p=74838460&postcount=14

jaybeetoo

Zero_Sum wrote: »

Reading the T&C's it says making a deposit can only be done by posting a cheque or making bank transfer. That's an awkward way of doing it. I'd prefer to do it by either debit card or direct debit.

Bank transfer is simple.

cashbackproblems

I just did it by debit card linked to my bank..