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Santander Monthly Saver matured but capital not transferred

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Santander Monthly Saver matured but capital not transferred

edited 22 October 2019 at 7:22PM in Savings & Investments
10 replies 814 views
Kernel_SandersKernel_Sanders
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edited 22 October 2019 at 7:22PM in Savings & Investments
Also appears to have changed to an eSaver but the capital hasn't been transferred to to my current account, so what is the situation please?
This screenshot seems to imply that all the capital and interest is now getting 2.5%.
https://imgur.com/MCctUxF

Replies

  • Call them and ask !
  • frugalmacdugalfrugalmacdugal
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    Hi,


    from Santander,


    At the end of term
    If you have paid into your Regular eSaver by standing order from your Santander current account (including one in joint names) that is in place at maturity:
    • we’ll automatically renew your Regular eSaver for another 12 months at the interest rate and on the Terms and Conditions applicable at that time; and
    • transfer the final balance at the end of the term (including interest earned) to your Santander current account from which the standing order was paid, including if your current account is in joint names.
    Alternatively, if you don't have a standing order in place when your Regular eSaver matures, we'll transfer your final balance including interest earned to an Everyday Saver account, currently paying 0.35% AER/Gross (variable) for balances of £1+.
    We'll contact you around 14 days before maturity to let you know your account is maturing and what we will do on maturity unless you instruct us otherwise before maturity.
    Y'all take care now.
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  • edited 22 October 2019 at 7:24PM
    Kernel_SandersKernel_Sanders
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    edited 22 October 2019 at 7:24PM
    Thanks but the account that has just had interest added to is the Monthly Saver, not the eSaver. I can't find the terms and conditions for the Monthly Saver, hence was wondering if I will be getting 2.5% on the capital. I've no idea what that extra day's interest is for but 3% of £2639 / 365 does come to 21.7p, which implies the account was still under the Monthly Saver's rate the day after it apparently matured. I've changed the thread title as I must have been getting 3% before, not 2.5%.
  • frugalmacdugalfrugalmacdugal
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    Hi,


    found this old thread which seems similar.
    Y'all take care now.
    happy0207.gif

  • surreysaversurreysaver
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    Santander don't adhere to their own terms and conditions when it comes to this account. You have to move the money yourself, and send them a secure message to close the account, otherwise you won't be able to open a new one
    I consider myself to be a male feminist. Is that allowed?
  • pdx123pdx123
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    Santander don't adhere to their own terms and conditions when it comes to this account. You have to move the money yourself, and send them a secure message to close the account, otherwise you won't be able to open a new one

    This post is incorrect. Mine matured about 2 weeks ago, but didn't seem to automatically go back into my current account, so yes, I transferred the money myself to leave a zero balance and my open ended standing order simply started going in there again. There is no need to CLOSE the account.
    Love is GRAND..........Divorce is 100 GRAND!
  • surreysaversurreysaver
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    pdx123 wrote: »
    This post is incorrect. Mine matured about 2 weeks ago, but didn't seem to automatically go back into my current account, so yes, I transferred the money myself to leave a zero balance and my open ended standing order simply started going in there again. There is no need to CLOSE the account.

    Mine didn't, so my post isn't incorrect. And the OP's didn't, either. It would seem thar some people's accounts do as it says on the tin, and others don't.
    If its an open-ended standing order, then the account stays open. But accounts where the standing order has ended appear to stay open too, which is contrary to the T&Cs
    I consider myself to be a male feminist. Is that allowed?
  • Hi, my e-Saver matured this month. The day after it matured, I received the interest payment. 3 days after maturity, the balance of the e-Saver was automatically transferred to my current account.
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  • surreysaversurreysaver
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    Hi, my e-Saver matured this month. The day after it matured, I received the interest payment. 3 days after maturity, the balance of the e-Saver was automatically transferred to my current account.

    Perhaps I was too impatient. I obviously expected the money to be automatically transferred sooner than three days. But regardless, the account still didn't metamorphosise into an eSaver, so still had to message them to do that
    I consider myself to be a male feminist. Is that allowed?
  • edited 24 October 2019 at 12:46AM
    Kernel_SandersKernel_Sanders
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    edited 24 October 2019 at 12:46AM
    My account converted to an Everyday Saver today although the capital wasn't moved. There is absolutely nothing about the account maturing in my online secure inbox thingy. I did have a standing order from my current account in place but I only set it up on Saturday. I expect this wasn't recognised because no payment has gone out yet.
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