Is it still worth switching from Santander 123 to the Lite version?

Steve_L

A quick question. I converted from a 123 to a 123 Lite account yesterday. When I finally found where to do this, all went AOK.  My last interest payment on the old 123 account was on 12 April. What happens to the interest earned on this account from then until 4 May? A payment on the 123 LIte account, despite this account not paying interest? Or is it lost?

RG2015

Steve_L said:

A quick question. I converted from a 123 to a 123 Lite account yesterday. When I finally found where to do this, all went AOK.  My last interest payment on the old 123 account was on 12 April. What happens to the interest earned on this account from then until 4 May? A payment on the 123 LIte account, despite this account not paying interest? Or is it lost?

My interest was paid a couple of days after converting.

vixen1500

Cisco001 said:

I am one of those people who downgrade to 123 lite.
What I did was move most of the payment date of my bill to beginning of the month. Then left £300 in the account after those bills gone through.

Just done the same to  cut the monthly fees down to £1 instead of £5. 
Good idea to try and get direct debit payment dates all close together so you can just put enough in each month to cover payments and small float.

colsten

wallofbeans said:

Changed to everyday account. But I can't get them to let me move money out of it. It's been refused twice now. I had to call them and unblock it the first time, and it's just happened again. Does anyone have tips on how to get money out without this happening? I assume going into a branch and doing it the old fashioned way would work but that's not an option currently. I hate talking (waiting) to banks over the phone and just want to move my money online...

That's annoying.

You could try transferring out by SO? Or call them and ask to transfer the lot (for free, not paying CHAPS charges)?

wallofbeans

colsten said:

wallofbeans said:

Changed to everyday account. But I can't get them to let me move money out of it. It's been refused twice now. I had to call them and unblock it the first time, and it's just happened again. Does anyone have tips on how to get money out without this happening? I assume going into a branch and doing it the old fashioned way would work but that's not an option currently. I hate talking (waiting) to banks over the phone and just want to move my money online...

That's annoying.

You could try transferring out by SO? Or call them and ask to transfer the lot (for free, not paying CHAPS charges)?

Very annoying. I used make payment or something. Would standing order make any difference? I was wondering if it was just the amount, first try was 10k, second 5k and both were blocked. I’ve got to call them tomorrow again. But maybe after that will just move small amounts over the next few weeks. 

I don’t want this to keep happening. I thought it would be fine the second try after I’d spoken to them but apparently not... 

wallofbeans

Just FYI - spoke to Santander again and they have no idea why my payments (to myself) are being declined. They waited while I tried to make the transfer again and then could see it had been declined but didn't know why. They then transfered the money for me without problem. They told me that it happens quite a lot and they have no idea why. 

I'm going to try setting up a standing order to get my money out of there but I'm assuming that will be declined too and I'll have to call again to move the money out. 

Such a pain, espcially when the recorded messages you get when you first get through to them ask not to call if you don't have to, to use the website and chat services etc. They are the ones making it impossible for me to do anything but call them!

colsten

Sounds ridiculous. There's obviously some block on your account, either for all payments, or for payments over a certain amount. In your shoes, I would be tempted to raise a complaint.