New Santander £200 Switch Offer - January 2023

Saver-upper

I wonder if someone can help. (I am looking at the details of switches to a few different banks, and have a few questions,so may end up doing my own post), but regarding switching to Santander Edge: 
According to the Santander website, there is the option of opening an optional savings account, which for the first 12 months pays 4% AER.

Is this offered to you when you are doing the switch? How does the money get to it? Do I put all my £ into the Edge account, then manually transfer?

 At the moment my current account is with Natwest, I also have 2 savings accounts with them, that earn a tiny bit of interest. I was hoping to switch current account to Santander Edge,  and my few thousands savings to the 4% account, but, from what I understand, my savings accounts can't be transferred as part of the switch. It sounds like they need to stay with Natwest, but because I won't have a current account with them, I won't be able to access my savings accounts except by going into branch.

Does anyone know how it all works? The teller at Natwest "thought I should be able to" do a partial switch, and that sounded even more confusing...........

Middle_of_the_Road

Just close the Natwest savings accounts online, have the proceeds moved to your current account, and then do the switch. When the funds hit the Santander edge account, open the edge saver and transfer the excess there.

Saver-upper

Middle_of_the_Road said:

Just close the Natwest savings accounts online, have the proceeds moved to your current account, and then do the switch. When the funds hit the Santander edge account, open the edge saver and transfer the excess there.

Perfect, thank you. 
I did feel like I was overthinking!! Nobody else seems to be having these worries! Thank you Middle_of_the_Road.

Middle_of_the_Road

Thanks,
click "view account details" next to each savings account, scroll down and fill in the form to close the account.

Also, the partial switch method, would not result in you getting the switch payout.

creditmanessex

You have to pay in £1000 - can you pay it in one week then spend it the next and be eligible?

Middle_of_the_Road

creditmanessex said:

You have to pay in £1000 - can you pay it in one week then spend it the next and be eligible?

Yes you can, nothing to say it has to stay in for any amount of time.

Saver-upper

So, I have applied (I think- hopefully!). A bit nervous...

I indicated to change my account starting today. Will I be told when my Natwest current account (which I am switching from) is about to be closed down?  I was going to keep using the associated savings accounts as I do at the moment, (being paid into savings accounts, then topping up current account as necessary from them.)

Ive had my Natwest for 22yr, so a bit nervous about it all.........

Middle_of_the_Road

You will get a switcher update e-mail tomorrow setting out the timetable for the switch.

It explains when each aspect of the switch happens, including when the Natwest account will be closed 

I applied on the 29th and my switch date is set for the seventh.

I would get all your savings into your Natwest current account, to be ready for the switch day, which will be in about a week.

Saver-upper

Middle_of_the_Road said:

You will get a switcher update e-mail tomorrow setting out the timetable for the switch.

It explains when each aspect of the switch happens, including when the Natwest account will be closed 

I applied on the 29th and my switch date is set for the seventh.

I would get all your savings into your Natwest current account, to be ready for the switch day, which will be in about a week.

Thank you again. 
Yes, the emails have come through now. One says it's all happening on the 9th. Will transfer everything across. 

Last question (promise!-because I have made a real project of this switch over the last week, and even I'm nearly sick of it now!! ) There was no mention of the £200 switch. My guess is there will be no mention until it confirms I have followed all the rules in 60 days time. A little something to let me know they know I should be eligible for it, would have been reassuring.

And I did snigger when applying, going through the hundreds and hundreds of jobs in the drop- down list, looking for mine. Listed were chicken sexers, chicken chasers, Kissagram person, and ventriloquist. But not home organiser 

Middle_of_the_Road

Saver-upper said:

Middle_of_the_Road said:

You will get a switcher update e-mail tomorrow setting out the timetable for the switch.

It explains when each aspect of the switch happens, including when the Natwest account will be closed 

I applied on the 29th and my switch date is set for the seventh.

I would get all your savings into your Natwest current account, to be ready for the switch day, which will be in about a week.

A little something to let me know they know I should be eligible for it, would have been reassuring.

And I did snigger when applying, going through the hundreds and hundreds of jobs in the drop- down list, looking for mine. Listed were chicken sexers, chicken chasers, Kissagram person, and ventriloquist. But not home organiser 

That's right, never any mention of the switch bonus. As long as you follow all the requirements, they will notify in 60 days. Pay in £1000, have 2 direct debits set up, and log in, and they should pay up.

Yes, that drop down box is bizarre, never seen anything like it on any such application. took me ages to find something suitable.