The Top Easy Access Savings Discussion Area

I-LOV-MONEY

oldagetraveller wrote: »

Exactly the same except for no 'phone call to them - why should I?

I wouldn't make an expensive phone call to them either! Their website still lists the freephone number and an alternative (also used for overseas enquiries). However, after trying both, they end up with a recorded announcement that the number "..has changed from 08.... to 0844 .." (why bother to read out a non-number?)

mihaid

my Santander esaver interest came down last week and when I checked best rates on mse I was horrified to see that the best seemed 1.7% when the esaver was above 3%. When did this dive happen? I have now opened/changed into a 123, but seriously? It seems that the talk now is of higher interest rates coming on mortgages and so on, which might mean higher rates for savers?
Anyway, I read back a few pages and I'm not quite sure: Would people here post about "new" better savings deals? or hope that the mse letter will mention such deals, I have not been paying attention to savings because I thought I was sorted.

Zerforax

So I've got about 12k I want to earn a little bit of interest on.

Just wanted to confirm that I understand correctly one of the methods for the Santander 123 account.

Open a Santander 123 account (via a cash back site?)
Deposit the 12k
Open 2x Tesco accounts to each pull £1 from the Santander 123 account
Create a standing order which moves £500 into the account every month

Although perhaps it would be better to place 9.5k in the Santander 123 account and then 2.5k in a Nationwide FlexDirect account and cycle £1000 through both accounts?

Steve_xx

Zerforax wrote: »

So I've got about 12k I want to earn a little bit of interest on.

Just wanted to confirm that I understand correctly one of the methods for the Santander 123 account.

Open a Santander 123 account (via a cash back site?)
Deposit the 12k
Open 2x Tesco accounts to each pull £1 from the Santander 123 account
Create a standing order which moves £500 into the account every month

Although perhaps it would be better to place 9.5k in the Santander 123 account and then 2.5k in a Nationwide FlexDirect account and cycle £1000 through both accounts?

Yes that's right and here is a link with the requirement set out in an easy to understand format:

http://santander123.co.uk/

Zerforax

Steve_xx wrote: »

Yes that's right and here is a link with the requirement set out in an easy to understand format:

Thanks :beer:
Applied for the Santander 123 account, the Nationwide Flexidirect and the 1st of the Tesco Saver Accounts. Got to wait a few days for that to be processed before the next step..

Molly58

I have been reading about the Santander 123 current accounts being a good place to earn some interest and I understand the requirements about DD and income. My husband and I have £70,000 saved, it's in my name as I don't work and can get interest gross - the money has been with ING (now Barclays) and the bonus is about to run out.

The thing I am not sure about is how to approach the 'income' bit when trying to open an account. I don't earn anything but there is a stipulation that you must have money coming into the account. I can easily sort this out each month from our First Direct current account but I'm not sure what to put in the income box as it won't accept 0!

I would appreciate some advice :-) Also does the application ask you for an employers name?

KTF

Put whatever you want in the income box then do a manual transfer in from an external Santander account.

Steve_xx

Molly58 wrote: »

I have been reading about the Santander 123 current accounts being a good place to earn some interest and I understand the requirements about DD and income. My husband and I have £70,000 saved, it's in my name as I don't work and can get interest gross - the money has been with ING (now Barclays) and the bonus is about to run out.

The thing I am not sure about is how to approach the 'income' bit when trying to open an account. I don't earn anything but there is a stipulation that you must have money coming into the account. I can easily sort this out each month from our First Direct current account but I'm not sure what to put in the income box as it won't accept 0!

I would appreciate some advice :-) Also does the application ask you for an employers name?

I don't think that the application asks for an employers name. After all you could be self-employed. And remember, retirees have no employment details to state so you could simply state "retired". Also remember that to have an income you don't necessarily have to be employed. For example, some people have only savings interest as their income, but nevertheless this is classed as income.

Zerforax

Can you use the Tesco saver account to pull money from a Halifax credit card account?
The same way if you put £750 into your current account monthly to earn a £5 reward - if you spend £750 on your credit card, you can earn £5 reward but I wonder if the Tesco saver account pull will trigger it or not?

innovate

No, there is no concept of a Direct Debit against a credit card.