Santander Easy Access Limited Edition

B80BBY

I applied last night around 9pm for the 5.2% AER account, had an email confirmation this morning with my new account details but the Key Facts document attached to the email states an interest rate of 2.5% AER, Easy Access Saver Issue 24 Effective 13th September.

Wasn't happy with that, so I just called Santander to query and they said they are aware that some customers who applied last night have received the wrong confirmation emails this morning, and should receive the correct confirmation documents later today.

Bridlington1

taxmanpaul1 said:

I signed up late last night (10ish) after I saw Martins message but did not get confirmation email until this morning, which shows 2.5% rate. I had not made any deposits as the online registration process said I should hear back within a couple of hours. I heard after 9am this morning. Maybe the offer was pulled before midnight.

Not necessarily, when I applied on the day it was launched they attached the factsheet for the 2.5% eSaver, I checked the app and the correct interest rate showed so I just ignored it. 3 days later they sent an email apologising for the error and attached the correct factsheet so they could well have made a similar error.

Torres9

I used to work for Santander until they made me redundant. Sounds like they are really coping without me. Lol.
Think I'll wait till the left hand knows what the right hand is doing before i apply.

Scot_39

Pulled for accounts - I guess succesfully opened - not pending validation - if above posts correct - last night.

This published yesterday at c1pm - saying being pulled at 11:59 on 12th.

https://www.thisismoney.co.uk/money/saving/article-12508519/Santanders-5-2-easy-access-savings-deal-ends-TONIGHT.html

Its definitely gone off of savings champion - possibly other best buy sites etc.

Now all those who got it have to do - is monitor in case Santander don't maintain the rate relative to others - if say BofE raise rates a couple of times more.

And even if not immediate - need to remember - it's only good for a year.  It reverts to a really poor rate account after.

Scot_39

B80BBY said:

I applied last night around 9pm for the 5.2% AER account, had an email confirmation this morning with my new account details but the Key Facts document attached to the email states an interest rate of 2.5% AER, Easy Access Saver Issue 24 Effective 13th September.

Wasn't happy with that, so I just called Santander to query and they said they are aware that some customers who applied last night have received the wrong confirmation emails this morning, and should receive the correct confirmation documents later today.

That only seems fare - 11:59pm was what the press reported - I guess based on their press release - and you met it.

BooJewels

Scot_39 said:

[Snip]

Now all those who got it have to do - is monitor in case Santander don't maintain the rate relative to others - if say BofE raise rates a couple of times more.

And even if not immediate - need to remember - it's only good for a year.  It reverts to a really poor rate account after.

It's a variable rate account, so can potentially fluctuate, just the same as any other EA savings account - in line with whatever notice their terms say they'll give - not just got them handy to check the details.  ETA: it does revert to an Everyday Saver after 12 months, as you said.

scoot65

I applied for the account at 10.50pm last night. I received two emails this morning one at 3.15am giving me my application ref number and an ID number. The second email arrived at 6.55am informing me that the account is now open and giving me the account number and sort code.

Reading the Key Facts Document which came with the second email, it states that if interest is paid annually it's 5.20% AER/gross (variable) for 12 months from account opening and if interest is paid monthly it's 5.08% AER/gross.

So it looks like that's I've managed to squeeze in before the deadline and the 5.20% was reduced.

Question :- is it best to wait for the temporary password and temp security number to arrive via the post before I transfer funds into the account?  .... (I do now have the account and sort code)

 

flaneurs_lobster

BooJewels said:

It's a variable rate account, so can potentially fluctuate, just the same as any other EA savings account - in line with whatever notice their terms say they'll give - not just got them handy to check the details.

It's "At least two months before the change" for a reduction in interest rate. Increases just happen.

BooJewels

Thanks @flaneurs_lobster - I suspected it would perhaps be 30 days for a reduction, but 2 months is pretty generous. 

sheslookinhot

scoot65 said:

I applied for the account at 10.50pm last night. I received two emails this morning one at 3.15am giving me my application ref number and an ID number. The second email arrived at 6.55am informing me that the account is now open and giving me the account number and sort code.

Reading the Key Facts Document which came with the second email, it states that if interest is paid annually it's 5.20% AER/gross (variable) for 12 months from account opening and if interest is paid monthly it's 5.08% AER/gross.

So it looks like that's I've managed to squeeze in before the deadline and the 5.20% was reduced.

Question :- is it best to wait for the temporary password and temp security number to arrive via the post before I transfer funds into the account?  .... (I do now have the account and sort code)

 

I transferred 10k into account with login details using account and sort code.


For those who applied late last night, why did you leave it so late ?