Santander Select Account

kevChan

anyone forget you paid £5 a month just to have this account?

that's the same as having £1200 loan free to Santander!

there are loads of big player offer 1.5% interest for current account with NO FEE!

not recommend SANTANDER AT ALL

Toe-Jam

kevChan wrote: »

anyone forget you paid £5 a month just to have this account?

that's the same as having £1200 loan free to Santander!

Not sure about the maths .... £5 *12 = 60 . You'd have to have had the account 20 years before you'd have given Santander £1200.

EssexExile

kevChan wrote: »

anyone forget you paid £5 a month just to have this account?

But we get more than that back in cashbacks. It's not an account for everyone & the pros & cons have been covered so many times on here but for some of us it works fine.

Marchitiello

Can I ask if anyone that has had the new Select account for a while has been able to downgrade to 1/2/3 lite and retain the select status/benefits? Or someone on the 1-2-3 Lite but meeting the pay in requirement able to get upgraded to select?

JGUK

Not tried it but you would still need to put in the £5000 a month transfer to keep Select status.

To be honest I'm probably going to let the Select status lapse as there seems to be little point to it for me.

Also as its now called specifically the Select Account there would have to be a Select Lite Account but not sure if there is.

Call up and ask would be my best guess?

ColdIron

I've had a 123 for ages with Select status, I presume because I shuffled £7k in and out a month to fund other banks minimum pay in. I downgraded to Lite last October and still have Select. I have no idea how long it will last as I only use it for DDs but apart from a phone number they answer very quickly I get no benefit from it

Marchitiello

Thanks both for your replies.

@ColdIro, did you have the new select account before downgrading or the old “select” status?

My objective is mainly to exploit the free cash withdrawals in my frequent trips to NYC

huw01

I have a Santander select account and I think it’s well worth the 5 pounds per month charge. Okay it is similar to the 123 accounts but you get free ATM withdrawals at Santander ATMs in other countries as well as in Spain.

I also decided to get a Santander Select world elite MasterCard, okay you pay £15 per month for it but you get free access to airport lounges. As I travel on short trips frequently I think it is really worth it as access to these lounges is usually £30 per time. Just on one return trip you that could be £60.

ColdIron

Marchitiello wrote: »

@ColdIro, did you have the new select account before downgrading or the old “select” status?

I've had Select status for years, I wasn't aware that there were degrees of 'Selectness'

colsten

ColdIron wrote: »

I've had Select status for years, I wasn't aware that there were degrees of 'Selectness'

AFAICS, it's only the optional credit card, which costs £15 a month, that distinguishes between 'selectness'. This could be a very good add-on for frequent flyers because of the lounge access. Difficult to justify otherwise.