Santander Reg eSaver

Sea_Shell

Quick question.

Have I interpreted the terms correctly, in that there is no minimum monthly contribution, or balance, and no need to keep a standing order going, in order to have received the headline interest to date.   But any deposits you DO make, must come via a standing order from a Santander C/A?


I didn't want my question to get lost in the melee of the other threads!! 

Thanks

Matt1510

Quick reply.

Why not ask Santander, get yer answer straight from the horses mouth. Santander should know better than anyone.

RG2015

Sea_Shell said:

Quick question.

Have I interpreted the terms correctly, in that there is no minimum monthly contribution, or balance, and no need to keep a standing order going, in order to have received the headline interest to date.   But any deposits you DO make, must come via a standing order from a Santander C/A?


I didn't want my question to get lost in the melee of the other threads!! 

Thanks

Yes, I believe that this is correct. However Santander now have an easy access account also paying 2.75% on up to £250,000. It is though only available for a limited period.

I just closed my 2.50% Santander RS and got the balance plus interest to date in my 123 Lite account within a couple of hours yesterday.

trickydicky14

What a difference in attitude between the previous two comments.

RG2015

Matt1510 said:

Quick reply.

Why not ask Santander, get yer answer straight from the horses mouth. Santander should know better than anyone.

You might find this strange but banks' customer services sometimes give incorrect information. It can also involve waiting in a telephone queue for 30 minutes or even longer.

There are several users on this site that have vast experience of banking procedures. The OP has been posting here for many years and more than likely knows who to trust to give well considered and authoritative answers. Chances are that more than a few of these will provide an answer.

I guess that is what this forum is all about.

bristolleedsfan

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

Sea_Shell

Thanks for the helpful answers guys.   I didn't want to bother Santander CS at the moment as they are no doubt overwhelmed.

And yes, I have opened and funded the new eSaver account!!!  

It was the phrase "If you don't fund your account from your Santander current account" that I was querying.

I HAVE funded the account by SO from my 123 account up to now, but obviously now don't want to continue, in light of the new rates available elsewhere.

I've already moved the balance out, but wanted to also cancel the £200 SO.   



I also have TSB and Lloyds, and have reduced their SO's to £25, which i understand is the minimum.   Not sure if you can close them and have interest paid to date?   Anyone?

jaypers

I do wonder what percentage of people are emptying out their typical savings accounts such as Atom and Marcus. That’s what I have done. Wish everyone would and perhaps we would see rate increases a little quicker. 

wmb194

Sea_Shell said:

I also have TSB and Lloyds, and have reduced their SO's (sic) to £25, which i understand is the minimum.   Not sure if you can close them and have interest paid to date?   Anyone?

The minimum for these is £zero and yes, you can close them early and receive the accrued interest to date.

If you close them early you won't be able to open a new regular saver of the same type until the anniversary of the one you closed.

Matt1510

RG2015 said:

Matt1510 said:

Quick reply.

Why not ask Santander, get yer answer straight from the horses mouth. Santander should know better than anyone.

You might find this strange but banks' customer services sometimes give incorrect information. It can also involve waiting in a telephone queue for 30 minutes or even longer.

There are several users on this site that have vast experience of banking procedures. The OP has been posting here for many years and more than likely knows who to trust to give well considered and authoritative answers. Chances are that more than a few of these will provide an answer.

I guess that is what this forum is all about.

I don't find it strange that the customer service team can sometimes get it wrong, However, my first port of call will be the bank. You might find this strange but asking on a public forum can sometimes result in contradicting/incorrect/harmful and confusing opinions. Granted, not always, but a darned sight more frequently than the banks' c.s.team.

Sea_Shell

Matt1510 said:

RG2015 said:

Matt1510 said:

Quick reply.

Why not ask Santander, get yer answer straight from the horses mouth. Santander should know better than anyone.

You might find this strange but banks' customer services sometimes give incorrect information. It can also involve waiting in a telephone queue for 30 minutes or even longer.

There are several users on this site that have vast experience of banking procedures. The OP has been posting here for many years and more than likely knows who to trust to give well considered and authoritative answers. Chances are that more than a few of these will provide an answer.

I guess that is what this forum is all about.

I don't find it strange that the customer service team can sometimes get it wrong, However, my first port of call will be the bank. You might find this strange but asking on a public forum can sometimes result in contradicting/incorrect/harmful and confusing opinions. Granted, not always, but a darned sight more frequently than the banks' c.s.team.

Don't worry Matt.   On the whole I know which forumites "know their stuff" and which ones to ignore.