Money in current account

MX5huggy

Susan1942 said:

Can I open a second account with Santander ?  I imagined I could only have one account with them...I do have the regular savings account . Pay £200.a month into it but it's just 12 months and then goes in to.my.current account and I start a new one.  Due to end August.this year 

Your current one is probably paying 0.75%. A new one opened today (and probably in August) pays 0.5% which over the year at £200 per month will end up paying £6.50 interest. Not worth opening another 123 account even if it did mean you can open another regular saver with Santander. 

colsten

MX5huggy said:

Susan1942 said:

Can I open a second account with Santander ?  I imagined I could only have one account with them...I do have the regular savings account . Pay £200.a month into it but it's just 12 months and then goes in to.my.current account and I start a new one.  Due to end August.this year 

Your current one is probably paying 0.75%. A new one opened today (and probably in August) pays 0.5% which over the year at £200 per month will end up paying £6.50 interest. Not worth opening another 123 account even if it did mean you can open another regular saver with Santander. 

A second Santander current account does not entitle you to a second Santander Regular Saver. Not that anyone would really want two Santander Regular Savers, paying below par what you could get in many other places.

The only productive use I could imagine for a second Santander current account is as a donor account for switching. Probably not on the radar of the OP.

Susan1942

Thank you all for your advice. I am widowed so a joint account is not possible.  I think when I last looked at my account with interest and cashback I was a few £ better off remaining with the 123 account.
All together interest rates are so miniscule that it hardly seems worth.going to the trouble of moving or changing to another bank.   But I do appreciate your advice.  Due