Santander 2.75% Account

Band7

Patr100 said:

Like some others , moving out of Santander to Zopa (2.86%) (then to a 30 day boosted pot at 3% ) as longer term Zopa are far more likely to raise rates than Santander for this particular account now.

CHIP pays even better for instant access - 3%. At present, however, the interest is paid as a bonus which is not FSCS protected (the rest of your money is, up to £85k), and to get the bonus out, you have to get the entire balance out. They have made it known they are working on changing the bonus to 'proper' FSCS-protected interest. Deposits into and withdrawals from CHIP can be literally instant, though Santander have a habit of blocking larger payments.

Patr100

Band7 said:

Patr100 said:

Like some others , moving out of Santander to Zopa (2.86%) (then to a 30 day boosted pot at 3% ) as longer term Zopa are far more likely to raise rates than Santander for this particular account now.

CHIP pays even better for instant access - 3%. At present, however, the interest is paid as a bonus which is not FSCS protected (the rest of your money is, up to £85k), and to get the bonus out, you have to get the entire balance out. They have made it known they are working on changing the bonus to 'proper' FSCS-protected interest. Deposits into and withdrawals from CHIP can be literally instant, though Santander have a habit of blocking larger payments.

Already had a Zopa account so  easier to move into that and 30 day wait no problem for now and payments out are quick if needed. , rather than opening yet another account It will probably take quite a competitive rate difference for me to shift again for instant access as the cash amount isn't significant  relative to other accounts I have  (already got a lot tied up in 1 and 2 year fixed rates) or another provider that is clearly likely to be more responsive to BoE rises.

[Deleted User]

I've started the "ladder" system with the ZOPA 95 day notice account, 4 pots so far, all 5 days apart. It's such a good wheeze I wonder whether ZOPA might stop it, I guess it will depend upon how many "play" the system.

Black_Cat2

Deleted_User said:

I've started the "ladder" system with the ZOPA 95 day notice account, 4 pots so far, all 5 days apart. It's such a good wheeze I wonder whether ZOPA might stop it, I guess it will depend upon how many "play" the system.

Hi Marvo5, just wonder why you have only gone for 5 days apart and not longer, even fortnightly?  🤔

[Deleted User]

Black_Cat2 said:

Deleted_User said:

I've started the "ladder" system with the ZOPA 95 day notice account, 4 pots so far, all 5 days apart. It's such a good wheeze I wonder whether ZOPA might stop it, I guess it will depend upon how many "play" the system.

Hi Marvo5, just wonder why you have only gone for 5 days apart and not longer, even fortnightly?  🤔

Simple mathematics. Its a 95 day account. I read you are only allowed 20 pots (not sure if that's correct). 5 day periods divided nicely into 95 days, 19 pots. When the first pot matures, I can either give notice again or use the money for something else. All 19 pots will be earning 3.26% and any money I have that becomes available can be put straight into any of the pots. For example if you have something mature, say a regular saver and you find yourself with £5,000 that you have no use for for a month, you can stick it in whichever of your pots that has a month left to run and get the top whack.

Having said that, each to their own. I treat it all as a bit of fun.

Black_Cat2

Okay I'm with you.  I'm doing the same but not as smaller time frames as you and wondered if I was missing out on something lol 😺

Alistair31

Hello, 

Don’t want to start another thread so will just ask here… 

Can I set up a direct debit to pay my credit card from this Santander eSaver? 

Middle_of_the_Road

Alistair31 said:

Hello, 

Don’t want to start another thread so will just ask here… 

Can I set up a direct debit to pay my credit card from this Santander eSaver? 

No, unfortunately this account does not support direct debits.

MikeJXE

Middle_of_the_Road said:

Alistair31 said:

Hello, 

Don’t want to start another thread so will just ask here… 

Can I set up a direct debit to pay my credit card from this Santander eSaver? 

No, unfortunately this account does not support direct debits.

According to mine it does,  there’s an option to handle direct debits. If you can’t have them that option wouldn’t be there 

Band7

MikeJXE said:

Middle_of_the_Road said:

Alistair31 said:

Hello, 

Don’t want to start another thread so will just ask here… 

Can I set up a direct debit to pay my credit card from this Santander eSaver? 

No, unfortunately this account does not support direct debits.

According to mine it does,  there’s an option to handle direct debits. If you can’t have them that option wouldn’t be there 

Doesn't work. Any DD you set up against the esaver will be rejected by Santander.

If you want DDs against a savings account, there is the Chase Saver. If your phone doesn't run the Chase app, you are out of luck.