Santander 123 Fee

Blackbriar_040

Evening all,

I am planning on switching my Santander 123 account to First Direct, this will be my first time using the switch service!
I have 2 direct debits attached to the account, a couple of weeks apart and the £5.00 monthly fee!

The first direct debit is due this Friday 11 January, and the other is at the end of the month!
The account fee is also taken at the end of the month!

I would like to start the switch after the earliest direct debit is paid, Sat 12 Jan, however am not sure what happens regarding the monthly £5.00 account fee!

Will Santander simply debit this amount from the remaining balance before the account has fully switched?

You are also paying for the previous month, so in theory I would have both Decembers & Januarys fee's oustanding!

The T&C's on the Santander website are of no help!

Can anyone who has completed a similar switch, confirm the procedure!
Cheers.

Neil_Jones

Fee is not pro-rated or anything so if you still have the account on its due date you'll be charged it otherwise, um, you won't

When you transfer the account you get any outstanding interest or cashback due at the point of transfer so don't worry about that. Re the fee based on the behaviour of transferring to Lite any £5 you haven't paid gets dropped and you get charged the £1 from the following month. Presumably its the same when you switch away.