Santander 2.75% - no news in 2 weeks? 23 October 2022 at 8:14AM in Savings & investments 29 replies 3.7K views

housebuyer143

I applied for the ESaver on 13th Oct and got an email to say application had been received. I had no word from anyone since and called Santander on Thursday and they told me they could not look up application IDs and to assume its all being processed. She explained I should have got an email to say they are delayed and working through them, to which I explained I have had nothing.
Is there anything I can do, because 2 weeks seems like a long time to be waiting. My husband applied at the same time and has also heard nothing at all. 

Bigwheels1111

Simple, Give up.

Got to Gatehouse Bank or Al Ryan, both have better rates, just.

Plus set up there and then

Gatehouse make you wait a few days to toak out money, you need a letter to confirm you linked account.

art123_2

I applied for a joint account with my wife on 11 Oct.  My wife received 2 separate letter on Friday, so now our account is up and running.  However, I have still not heard anything yet, and neither of us received an email about any delays. 

MEEKUS

I'm still waiting, but got an email saying there is a delay

housebuyer143

Ok, well fingers crossed. It's a bit of a shambles. It's like they decided overnight that they needed more cashflow, set up this crazy good deal which was bound to be popular but didn't anticipate the work involved 🙄 shambles really 

Daliah

Not a good show by Santander, even though some people (incl myself) could open their’s in a coupke of minutes. Why do you keep waiting though? Al Rayan and Gatehouse have better rates, and you can get 5% on £5k at Barclays.

housebuyer143

Daliah said:

Not a good show by Santander, even though some people (incl myself) could open their’s in a coupke of minutes. Why do you keep waiting though? Al Rayan and Gatehouse have better rates, and you can get 5% on £5k at Barclays.

I have opened one with cynergy at 2.75% but they are unknown and it kind of makes me nervous to put all my money there. Probably irrational I know. I feel like the government wouldn't let Santander fail but would a smaller bank.

DJGill

I had the 2 x letters within a week and I'm all set-up. I guess there's backlog/delay as t must have been heavily subscribed

DjangoUnchained

same here, but i dont care now, there are plenty of banks offering better deals now.

Daliah

housebuyer143 said:

Daliah said:

Not a good show by Santander, even though some people (incl myself) could open their’s in a coupke of minutes. Why do you keep waiting though? Al Rayan and Gatehouse have better rates, and you can get 5% on £5k at Barclays.

I have opened one with cynergy at 2.75% but they are unknown and it kind of makes me nervous to put all my money there. Probably irrational I know. I feel like the government wouldn't let Santander fail but would a smaller bank.

You are right, irrational. All banks are covered by the FSCS, and FSCS is the same for all financial institutions. Deposits at Santander are no safer than deposits at Cynergy, or any other firm with FSCS protection.

If you fear that a small bank is more likely to collapse than a large one: there’s not much evidence that this is the case. But we don’t have to worry about it, as long as we pay attention to the FSCS cover.

Worth mentioning, FSCS is a statutory industry scheme, not a Government scheme.

JGal

Belongs in the Santander "2.75% Account" thread.