Santander Reg eSaver

Matt1510

pearl123 said:

Matt1510 said:

Quick reply.

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

I just spent half an hour on the phone to Santander. Phoning them at the moment is not a good idea! 

Try an hour or email them. Be thankful that you're able to use the phone.

RG2015

Matt1510 said:

RG2015 said:

Matt1510 said:

Sea_Shell said:

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. 

[DELETED BY FORUM TEAM]

Genuinely intrigued about what the "BM" stands for.

Board Member

Nice. 

Matt1510

Don't get ahead of yourself, there are board members and there are board members 
46434-board-members-websites 

Swipe

Frequentlyhere said:

Can I just double-check - is anyone holding the new instant access esaver without a corresponding current account?

I opened the saver yesterday, but realised today that my santander current acc is due to switch away elsewhere tomorrow, so just want to make sure my savings aren't going to go into a black hole somewhere!

Yes, I only had an old dormant 0.2% savings account with them with a couple of pounds in and the esaver was opened without issues or a request for documents

Sea_Shell

In the end I decided to reduce out SOs to £1 rather than cancel them.   

The accounts remain open, and I'll leave them until maturity, as I understand I can't open another one until this one is 12 months old anyway.   IF the eSaver rate were to reduce, I can up the SO again.

What little bit of interest they have accrued to date, will be a nice surprise in April.   (Don't have any need to worry about tax years v interest.)

MDMD

Sea_Shell said:

In the end I decided to reduce out SOs to £1 rather than cancel them.   

The accounts remain open, and I'll leave them until maturity, as I understand I can't open another one until this one is 12 months old anyway.   IF the eSaver rate were to reduce, I can up the SO again.

What little bit of interest they have accrued to date, will be a nice surprise in April.   (Don't have any need to worry about tax years v interest.)

There’s no such condition with Santander (that is a Lloyds Banking Group, and TSB condition)

https://www.santander.co.uk/assets/s3fs-public/documents/regular_esaver_key_facts_document_oct_22.pdf

Sea_Shell

Thanks.   But does that also mean that you can't have another one (issue) whilst an older one is still open?  It doesn't explicitly say you can't, unless I'm missing something.

Are they like Virgin were back in the day😉


It says the only way to close is branch or snail mail.  Is that correct or have people been able to close online or via chat?

Daliah

Sea_Shell said:

Thanks.   But does that also mean that you can't have another one (issue) whilst an older one is still open?  It doesn't explicitly say you can't, unless I'm missing something.

Are they like Virgin were back in the day😉


It says the only way to close is branch or snail mail.  Is that correct or have people been able to close online or via chat?

Santander won’t let you open a second RS but it’s quite easy to close the existing one. They recommended this for their latest RS.

steveksullivan

Sea_Shell said:

It says the only way to close is branch or snail mail.  Is that correct or have people been able to close online or via chat?

Unbelievably, managed to get through by phone in ONLY about 15 minutes!

Closed over the phone - quoted 48 hrs for it to be closed and money transferred to my esaver.

Was actually completed with funds transferred in a couple of hours.....

adindas

wmb194 said:

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.

I have not checked TSB, but for Lloyds I think the minimum is £25, But you could always transfer it back on the same day.

https://www.lloydsbank.com/savings/monthly-saver.html