Santander 123 account - Problems

eskbanker

MACKEM99 said:

Could I ask a question of those in the know, please  If a DD payment rolls over to the next month do they penalise you and still cap each layer at £5?

The cashback is calculated from the DDs actually paid out in any monthly period and capped if necessary, so there's no concept of when a DD 'should' have been taken if that's what you mean by penalising?

PRAISETHESUN

MACKEM99 said:

Could I ask a question of those in the know, please  If a DD payment rolls over to the next month do they penalise you and still cap each layer at £5? 
Thanks.

Santander run on a monthly cycle starting from when you opened/upgraded the account, not the calendar month. The cashback is paid based on the date of the transaction. If a DD is taken late and falls in the next monthly cycle then it will count towards the later month's cashback cap. If you're worried about this happening, it might be worthwhile to see if you can get the DD date changed

MACKEM99

Thanks for replies.  DD normally 1st of month, however Jan 1 Bank Hol, 2 Sat, 3 Sun so DDs did not go out till 4 Jan and cut off date for me is 3rd of month.  So Jan Cashbacks short which I thought would go forward to this month, which they did.  However one Cashback element was over £5 so capped at £5.