Santander 2.75% Account

mlc2009

I opened my esaver last month on the 11th. I presume I should be getting my monthly interest at some point today?

steveksullivan

Reassuring (I think?....) to see we're all in the same boat - no interest here either.

Must admit I was expecting it overnight last night .....

cwep2

Band7 said:

jimexbox said:

What's santanders maximum daily withdrawal limit? I'll be funding a one year fixed bond soon. So I could do without any hassle. 

Cash: £5k cash in Branch without prior notification. Higher if you advise a working day ahead.
.
Electronic payments:£25k online/app, £100k phone or Branch. Higher amounts via CHAPS, which I think costs £25

Note you can make multiple £25k online payments up to £100k per day if you happened to say want to put £85k into an account.

The clock is a rolling 24 hours though, so if you make a few payments at 4pm on Tuesday, then at 11am Wednesday you are still limited by those. Automated payments seem to go out at 00:01 so it also means if you have any standing orders or set up automated  payments set to go out the next day, those might not go out if you have hit the £100k limit the previous day. 

jak22

It is strange that there's no interest yet. With some places it's not until the middle of the day and with Zopa it doesnt seem to show up until next day but with Santander being a large bank with instant transactions it is a little odd. If the interest rate shows as 2.72% then you've chosen monthly.

equora

Also signed up with Santander on 11th.  No interest yet.

southone

jak22 said:

It is strange that there's no interest yet. With some places it's not until the middle of the day and with Zopa it doesnt seem to show up until next day but with Santander being a large bank with instant transactions it is a little odd. If the interest rate shows as 2.72% then you've chosen monthly.

I just phoned Santander select line shock horror got an answer almost right away after using the voice is a password, the lady I spoke to seemed to think that interest would be paid on the anniversary of the account opening if set for monthly however she seemed to know nothing else apart from if it doesn't go in today it'll probably be Monday so not much help really

refluxer

southone said:

...she seemed to know nothing else apart from if it doesn't go in today it'll probably be Monday so not much help really

Surely Santander aren't a 'next working day' (Monday to Friday) type of bank, are they ? I would expect that of a smaller, challenger bank but not from one of the biggest banks in the country

Black_Cat2

Bit weird selling it as interest on anniversary of account opening and then (potentially as not midnight yet) not paying the anticipated interest on that day!

RG2015

refluxer said:

southone said:

...she seemed to know nothing else apart from if it doesn't go in today it'll probably be Monday so not much help really

Surely Santander aren't a 'next working day' (Monday to Friday) type of bank, are they ? I would expect that of a smaller, challenger bank but not from one of the biggest banks in the country

In my experience the traditional banks class weekends and bank holidays as non-working days and the challenger banks tend to be 24/7 transaction processing.

art123_2

Finally got my account sorted today after 1 month, after having to request fresh log in details after getting locked out.  Made a small withdrawal today as a tester, which worked ok, but does anyone know why they need to produce a list asking you for your reasons for the withdrawal.  Never seen that with other financial institutions.   Unfortunately there wasn't a "mind your own business" box to tick.