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ColdIron said:

Does Santander have a 'nominated account'? It's just a list of payees like any of the High St banks

I saw something about one but when I clicked on it it said you have to contact them to set it up which I couldn't be bothered with so just added a payee.

Noneforit999

If Aldermore nudged their 1 year fixes a little higher, I would consider opening an Easy Access at 2.75% and a 1 year fixed to keep it all in the same place.

Decisions decisions...

TomDolan

searching4bestrates said:

I found Santander and their eSaver to be a disaster when trying to access my money.

After numerous blocked withdrawals and countless hours on hold to speak to someone to discuss the block and permit transfer, I have recently finally managed to all get my savings back out of them and have now requested the account be closed.

I'll never go near Santander again. It was a great rate (at the time) but horrific in every other way (in my opinion). I'm glad there are now alternatives with the same/better rates.

yh same here...I am now off to my nearest branch and will request closure of this account, nothing but pain and frustration.

phillw

Deleted_User said:
I've had over £482 back so far which I think is a lot AND I am about to pay a world the round trip so another £170 on its way. Not to be sniffed at.

If you stoozed on 0% purchase cards, then you'd get more with the current savings rates. Plus you'd have Section 75 protection.

phillw

cricidmuslibale said:
As I clearly stated before, it is a perfectly rational business move, assuming of course that the tracker savings account’s overall interest rate is set to be significantly lower than the tracker mortgage’s overall interest rate! Then the bank or building society can be fairly confident of bringing in significantly more money in mortgage interest than they’re paying out in savings interest!

How can they get people to save money with them, if they are offering less interest than the competition?

The "offer competitive rate then freeze or lower it" technique works because people go to them, then forget. If they never offer good rates, I think they will struggle.

Banks get away with offering poor rates because there are still some people who will only bank with one institution. They don't have to offer anyone anything decent.

Patr100

The Sant E-Saver doesn't have a nominated account , but I set up and made a small test payment to my external current account so hopefully when I need to , it's there and established for future payments (within daily limits) .

rallycurve

I withdrew my savings from Santander 2.75% eSaver after reading so many reports of blocks and pain to access the money. I had no problem with my transfers out (I did 2, and it was not a huge amount anyway) but I didn't want to risk having issues and stress when I needed the money... Glad there are more (better?) options now

wiseonesomeofthetime

I have had zero problems with Santander.

Watch what happens now I've said that 🤦‍♂️

Sensory

I wonder if most having problems transferring money away from Santander are new customers. When they released their 2.75% account, I had no problems transferring £25K in, then just over a week later transferring all of it away to Al Rayan in a single transaction (as a new payee). No delays or blocks or assistance required. The only snag was it took over 24 hours to open the account, despite being an existing customer for over a decade.

Wheres_My_Cashback

Not one issue with the Santander e-saver, though I have been a customer for years. Set up 3 new payees direct from the a/c to external sources, have moved high amounts (10k+) and no problems.