Santander Current account

JasonSmart2022

Hi.  First, this is not a thread for whether or not I should go with Santander    8 have already read all the pros and cons.   

My question.   As a support for 34 year old man looking to save and hopefully buy a house, save abs spend occasional purchases such as cars holidays etc.   Can anyone give me any idea what from Santander’s range of current accounts might best suit my needs? 

WillPS

If you know all the pros and cons, why do you need help selecting an account?

JasonSmart2022

WillPS said:

If you know all the pros and cons, why do you need help selecting an account?

I’m not sure which of their range would be best for me

Daliah

Santander pay mediocre interest on the full fat 123. If you want the DD cashback, you could consider the 123 Lite but it depends on your bills whether it is worth it at all after the £2 monthly fee (it is for me but my bulls are very high) There is a cashback calculator somewhere on the Santander website that will work it out for you.

If you want their 2.5% Regular Saver account, you will need a 123 account but apparently there is an option to get this account for free if you never use it for DDs. See https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list

Other than that, Santander is no use for savings. Head to the Savings & Investment board for info on instant access and more Regular Saver accounts.

Zanderman

JasonSmart2022 said:

WillPS said:

If you know all the pros and cons, why do you need help selecting an account?

I’m not sure which of their range would be best for me

Only you can judge which current account would suit you.  The only info you give about your needs seems to relate to saving needs, not current accounts.

The current account options are summarised here:

https://www.santander.co.uk/personal/current-accounts

The savings account options (none of which will earn significant interest, in respect of the car or house purchase you mention, as even the 2.5% reg saver can only bring in £32.26 max per annum) here:

https://www.santander.co.uk/personal/savings-and-investments/savings

WillPS

If you can make more than the £2 fee in cashback go with 123 Lite.

If you can't, go with Select.

If you are ineligible for either, go with Basic.

123 is pointless

Don't leave more than the amount you need to satisfy recurring payments with Santander.

ColdIron

Santander's offerings are very bottom drawer, apart from the regular saver and you won't be buying a holiday or car with that let alone a house

Lightning360

Most current account offerings are "very bottom drawer" at all banks. If your aim is to earn interest on your savings, almost all banks are rubbish. 

enthusiasticsaver

You are asking about two different things.  Current accounts are for normal everyday banking activity and whilst Santander has a variety of them ( I have the 123 Lite for the cashback on bills) they will have no bearing on savings or buying a property.  Look for high interest and maybe a LISA if you are a first time buyer. 

jimjames

JasonSmart2022 said:

Hi.  First, this is not a thread for whether or not I should go with Santander    8 have already read all the pros and cons.   

I don't really understand the question. How have you decided on Santander but not which account you want? Surely the account is as important as the bank? For savings Virgin has a good rate for current account as well as decent savings rate.