Santander monthly saver maturity?

JimmyTheWig

ColdIron wrote: »

But the term is the same so it matures 3 days earlier and the interest is the same. Santander can't snaffle your, or anyone else's, 30p

On the account that has just matured, the interest has already been paid. No more interest will be paid on it. So by getting it out sooner rather than later it will be earning interest again.

liamcov

So I can start funding the account again even though last years money is still in there?

Hammer_Time

Santander states in there maturity letter that it will only renew to the new 3% regular esaver if your standing order is still active (I no longer want this account), it states if there is no standing order in place it will change to an everyday saver (this is what I wanted). however my one change to the regular esaver and my standing order was only setup for 12 payments. Has this happened to anyone else?

notbritishgas

Hammer_Time wrote: »

Santander states in there maturity letter that it will only renew to the new 3% regular esaver if your standing order is still active (I no longer want this account), it states if there is no standing order in place it will change to an everyday saver (this is what I wanted). however my one change to the regular esaver and my standing order was only setup for 12 payments. Has this happened to anyone else?

Yes that is what happened to mine about a month ago.

Hammer_Time

Update, I phoned Santander about the letter I received, they said sorry they made a mistake and credited £30 to my account for my inconvenience.

vernall

My reg saver is due to mature today. It is still showing as being in my reg saver ( no interest added yet) and not gone over to my current account yet(I understand this can take 3 day). I have an ongoing standing order from my current account in place to go out tomorrow to fund the reg saver,which I understand will renew automatically. Will this £200 standing order just be added to my current reg saver balance then they will split this when they move my mature amount over leaving £200 starting off the new reg saver?

RG2015

vernall wrote: »

My reg saver is due to mature today. It is still showing as being in my reg saver ( no interest added yet) and not gone over to my current account yet(I understand this can take 3 day). I have an ongoing standing order from my current account in place to go out tomorrow to fund the reg saver,which I understand will renew automatically. Will this £200 standing order just be added to my current reg saver balance then they will split this when they move my mature amount over leaving £200 starting off the new reg saver?

You should have a letter in e-documents within your Santander online banking. Mine matured on 2nd April and the letter said the principal and interest would be transferred to my current account 3 days after maturity. This duly happened on 5th April leaving my last £200 in the Regular Saver account.

Please note that the new rate is down to 3% p.a. for 123 World customers. I do not believe that non 123 World customers qualify for this account now.

Sea_Shell

We've just made our 12th payment via SO on an account that matures on 8th June.

We've then had an email warning us that we are at our max balance.

If we don't cancel the SO, heaven only knows how they'll treat the 8th June payments, if it takes 3 days to process the maturity??? The new account won't be open.

hjghg5

vernall wrote: »

My reg saver is due to mature today. It is still showing as being in my reg saver ( no interest added yet) and not gone over to my current account yet(I understand this can take 3 day). I have an ongoing standing order from my current account in place to go out tomorrow to fund the reg saver,which I understand will renew automatically. Will this £200 standing order just be added to my current reg saver balance then they will split this when they move my mature amount over leaving £200 starting off the new reg saver?

Yes - or at least mine did. Interest paid on the maturing one on 2 march. Then £200 in, then a transfer out of £2400 + interest on 4 march.

RG2015

Sea_Shell wrote: »

We've just made our 12th payment via SO on an account that matures on 8th June.

We've then had an email warning us that we are at our max balance.

If we don't cancel the SO, heaven only knows how they'll treat the 8th June payments, if it takes 3 days to process the maturity??? The new account won't be open.

If your account matures on 8th June then your £200 deposit on 8th June will be fine.

There is no new account as the existing account number will be retained. At least that is what happened for me when mine matured on 2nd April.