The Top Easy Access Savings Discussion Area

cymruchris

I applied for my Al Rayan account a week ago, with my 31 day notice already given on my Zopa account - today being the 31 days. I then saw the flurry of activity ref Santander, and applied last night at about midnight. The email to say 'We are processing your application' arrived at 3am, and then the account was set up earlier today at around 4pm. So around 16 hours from start to finish (I have an existing Santander current account and credit card). 

I also noticed (and with the ginormous number of posts reference Santander I haven't seen it mentioned - but I'm sure it has been) that Zopa have today upped their rates - but are still lagging behind at 2.15% on instant, 2.2% on 7 day and 2.35% on 31 day (The option I've been using).

I did observe something that some might find useful to know in reference to Zopa. 

I had my savings split over several pots - I transferred the balances across to a primary pot so I could make a single withdrawal - leaving the 31 day pot empty.

After transferring the money over to my current account - I decided to tidy up the Zopa app and delete the empty pots. The interest that had been accrued from the last payment to the time of transfer suddenly appeared in my primary pot. So if you've moved your money from various pots - delete them - so that any roundup interest will be instantly credited rather than waiting for the usual monthly cycle. 

soulsaver

financialbliss said:

Don't think I've seen Tipton mentioned. Limited access 2.00% to 2.25% As well as being well behind Santander, the 3 withdrawals per year would put me off. May be of interest to someone though?

https://www.thetipton.co.uk/our-savings/current-savings-rates-1/easy-access-savings/limited-access-issue-2/?r=1591

Thanks, has previously been discussed but now lost in the Santander 'celebration'.

Branch/post opening. Branch/post for management. And limited access. Deemed not easy access enough for most.

Useful for some though, who live near a branch. 

M4rtyman

I  won't be touching the Santander account. They are a nightmare to deal with. As soon as you try and transfer any money, they will block the transfer and the login to your account.

My old man's been with them for years and last week was the last straw, when he tried to xfer 15k to a Zopa account. Took over a week to get resolved - multiple phone calls, the lot

isasmurf

Folks, may I request we take the Santander esaver Limited Edition discussion and commentary to the account thread. Everything else is just getting lost in the noise. 

jaypers

M4rtyman said:

I  won't be touching the Santander account. They are a nightmare to deal with. As soon as you try and transfer any money, they will block the transfer and the login to your account.

My old man's been with them for years and last week was the last straw, when he tried to xfer 15k to a Zopa account. Took over a week to get resolved - multiple phone calls, the lot

Probably generalising a little here on what sounds like a specific, albeit frustrating, case impacting 1 customer.

Yellowman

jwelly said:

I tried opening a Santander eSaver yesterday, but this morning I received an email saying they needed to check my identity by means of sending two documents by post, typically a passport photo copy and a photo driving license copy. Has anyone else had this ?

Just wondering how common this is these days. I'm a little disappointed given that a lot of people here have had their account open in minutes it seems.

I have rarely been asked for copy ID when opening a wide range of online / app savings accounts, so I was also surprised to be asked for them by Santander when opening an eSaver.

But, you can take the documents into a Santander branch for faster processing.

Nick_C

jaypers said:

M4rtyman said:

I  won't be touching the Santander account. They are a nightmare to deal with. As soon as you try and transfer any money, they will block the transfer and the login to your account.

My old man's been with them for years and last week was the last straw, when he tried to xfer 15k to a Zopa account. Took over a week to get resolved - multiple phone calls, the lot

Probably generalising a little here on what sounds like a specific, albeit frustrating, case impacting 1 customer.

I have read many reports of Santander being over zealous in their blocking of accounts for what they regard as Suspicious Activity.

I've opened the account, but wouldn't place all my savings there. 

Daliah

Nick_C said:

jaypers said:

M4rtyman said:

I  won't be touching the Santander account. They are a nightmare to deal with. As soon as you try and transfer any money, they will block the transfer and the login to your account.

My old man's been with them for years and last week was the last straw, when he tried to xfer 15k to a Zopa account. Took over a week to get resolved - multiple phone calls, the lot

Probably generalising a little here on what sounds like a specific, albeit frustrating, case impacting 1 customer.

I have read many reports of Santander being over zealous in their blocking of accounts for what they regard as Suspicious Activity.

I've opened the account, but wouldn't place all my savings there. 

I have been a Santander customer for over 10 years and would not agree that they are overzealous when it comes to extra checks on payments. 

Yes, I have also been caught by an automated, random, security check, and even had my online access suspended. This is the result of the efforts of Consumer Activist groups, who demanded that banks must reimburse APP fraud victims. In absolutely no time, this has even created new opportunities for fraudsters.  It is therefore completely unsurprising that banks are now taking measures to protect themselves, and we are all feeling the effects of it. 

In any case, though, getting a blocked payment lifted, and re-gain online access, isn’t difficult to do. It is just timeconsuming and annoying but the people to blame for it are the feckless who ignore  the copious warnings about money transfers, the ‘cunning’ fraudsters, and the Consumer Activists who don’t appear to believe in personal responsibility.

I do agree with the principle, though, of not having all your money in a single bank, or even with a single banking group.

duckson

Had a Santander 123 account for years and opened one of these esavers, cancelled my SO’s from my 123 to Marcus and Chase and set up new ones to the esaver…..all seemed ok but went to check the SO list to make sure it all was correct and the app logged me out and I couldn’t get back in! (Blocked). I hadn’t even moved any money!

Phoned and the wait was too long so left it until the evening but before I rang again I tried the app and hey presto it worked! Very odd but they must of realised or something and unblocked it. 

Money transfer from 123 to esaver has been fine. 

Nick_C

Daliah said:

Nick_C said:

jaypers said:

M4rtyman said:

I  won't be touching the Santander account. They are a nightmare to deal with. As soon as you try and transfer any money, they will block the transfer and the login to your account.

My old man's been with them for years and last week was the last straw, when he tried to xfer 15k to a Zopa account. Took over a week to get resolved - multiple phone calls, the lot

Probably generalising a little here on what sounds like a specific, albeit frustrating, case impacting 1 customer.

I have read many reports of Santander being over zealous in their blocking of accounts for what they regard as Suspicious Activity.

I've opened the account, but wouldn't place all my savings there. 

I have been a Santander customer for over 10 years and would not agree that they are overzealous when it comes to extra checks on payments. 

Yes, I have also been caught by an automated, random, security check, and even had my online access suspended. This is the result of the efforts of Consumer Activist groups, who demanded that banks must reimburse APP fraud victims. In absolutely no time, this has even created new opportunities for fraudsters.  It is therefore completely unsurprising that banks are now taking measures to protect themselves, and we are all feeling the effects of it. 

In any case, though, getting a blocked payment lifted, and re-gain online access, isn’t difficult to do. It is just timeconsuming and annoying but the people to blame for it are the feckless who ignore  the copious warnings about money transfers, the ‘cunning’ fraudsters, and the Consumer Activists who don’t appear to believe in personal responsibility.

I do agree with the principle, though, of not having all your money in a single bank, or even with a single banking group.

If your bank submits a Suspicious Activity Report to the National Crime Agency, it is difficult to regain access to your money.

The bank will lie to you.  They won't tell you your account is blocked or why it is blocked.  They are not allowed to by law.

If you try contacting the NCA directly, they will not tell you whether or not they have received a SAR.

The block won't be lifted until the bank get clearance from the NCA.  In theory, this should come in 7 working days, but in practice it can take several weeks for your account to be unfrozen.  I speak from experience.  And I'm talking about non fraudulent transactions.

If you need access to that money to pay debts, you could be in serious difficulty.

When I have read stories on line of other peoples accounts being frozen, Santander comes up in a disproportionately high number of cases.