Santander Select Account

NoodleDoodleMan

Does anybody have experience of the Santander Select Account ?

The drawback is having to deposit £5000 monthly to satisfy the Ts&Cs - however we could hook it up with an account elsewhere and cycle the 5 grand in and back out each month.

It looks much like an upgraded 1-2-3 account with the same interest and cashback deal, plus a few extra benefits.

I'm moderately attracted to it for use on holiday where Santander ATMs are based - for fee free transactions and card replacement (and emergency cash) if there is a drama abroad.

EssexExile

I am a Select customer if that's the same thing. I have noticed no advantages. The last time I went abroad the nearest Santander ATM was a few thousand miles away.

AndyPK

Are the benefits over the 123 . ?

Personal support from a Relationship Manager
24 hour dedicated call centre support for your banking needs

Access to support abroad, including Select Embassy branches, which can offer you assistance in your home language and help you with international emergency calls and meeting room access (subject to availability).

Emergency cash and card replacement if your card is lost or stolen abroad. Available worldwide except Cuba, India, Iran, North Korea, Sudan, Syria and Turkmenistan.
Cash withdrawal in a foreign currency outside the UK: we’ll waive the 2.75% foreign exchange fee and £1.99/1.5% cash handling fee when you use Santander-branded cash machines in Germany, Spain, Portugal, Poland, Argentina, Chile, Mexico, USA and Brazil. Please choose the option to transact in the local currency to avoid being charged fees.

colsten

EssexExile wrote: »

I am a Select customer if that's the same thing. I have noticed no advantages. The last time I went abroad the nearest Santander ATM was a few thousand miles away.

Similar here. I have been a Select customer for many years. I got a shiny golden card with a £750/day withdrawal limit but that's about all I can think of in terms of 'advantage'. I rarely use cash any longer these days, so it's not a significant advantage for me.

robatwork

Done this a few times here, general consensus is it provides almost zero benefits to the average Joe

https://forums.moneysavingexpert.com/discussion/5749872/santander-select-changes&highlight=select&page=2

EssexExile

AndyPK wrote: »

Are the benefits over the 123 . ?

Personal support from a Relationship Manager
24 hour dedicated call centre support for your banking needs

Access to support abroad, including Select Embassy branches, which can offer you assistance in your home language and help you with international emergency calls and meeting room access (subject to availability).

Emergency cash and card replacement if your card is lost or stolen abroad. Available worldwide except Cuba, India, Iran, North Korea, Sudan, Syria and Turkmenistan.
Cash withdrawal in a foreign currency outside the UK: we’ll waive the 2.75% foreign exchange fee and £1.99/1.5% cash handling fee when you use Santander-branded cash machines in Germany, Spain, Portugal, Poland, Argentina, Chile, Mexico, USA and Brazil. Please choose the option to transact in the local currency to avoid being charged fees.

If anyone sees those as benefits then go for it. The only effect Select has had on me is the phone call every time I get a new "Relationship Manager".

NoodleDoodleMan

It seems the consensus is that there is no great advantage to having this account.

I suspected this - thanks all.

ColdIron

The people at the end of the Select 0800 number answer the phone quickly, no press 1 for this or 2 for that, and are helpful. That's about it for me

londoninvestor

AndyPK wrote: »

Cash withdrawal in a foreign currency outside the UK: we’ll waive the 2.75% foreign exchange fee and £1.99/1.5% cash handling fee when you use Santander-branded cash machines in Germany, Spain, Portugal, Poland, Argentina, Chile, Mexico, USA and Brazil. Please choose the option to transact in the local currency to avoid being charged fees.

The Santander Zero Credit Card also gives you this benefit, without a monthly fee. (Though cash withdrawals do accrue interest until you pay them off, and the maximum you can pay ahead of your statement date is £100.)

Obviously how useful it is depends where you travel - but when I went to New York this year, using that card in a Santander ATM was literally the only way I could find to get cash without an ATM fee.

JGUK

The old Select Gold account was easy to keep once you were upgraded they never downgraded you.

The new Select Current account has automated systems checking for the 5k pay in, if it doesn't get paid in for X amount of months they send you a warning email about downgrading, no idea how that would pan out if you get a second email or if there would be manual intervention.

Problem is once you go forwards to the new current account you can't go back!

My advice, if you have the Gold current account stay with it and don't migrate to the new account.

Alexland

+1 for my shiny gold card and nice people to talk with on phone