Santander Easy Access Limited Edition

hallmark

Has anybody closed an existing Easy Access Saver (the one that pays 4.05%) early in order to open one of these instead?  How did they credit the accrued interest if so?

Thanks

DJSINGH

hallmark said:

Has anybody closed an existing Easy Access Saver (the one that pays 4.05%) early in order to open one of these instead?  How did they credit the accrued interest if so?

Thanks

I closed it after my new one opened. Did it via chatbot. It asked me where to send the interest so I selected the new Saver

Wheres_My_Cashback

hallmark said:

Has anybody closed an existing Easy Access Saver (the one that pays 4.05%) early in order to open one of these instead?  How did they credit the accrued interest if so?

Thanks

They credit in the way you tell them to credit it.

refluxer

hallmark said:

Has anybody closed an existing Easy Access Saver (the one that pays 4.05%) early in order to open one of these instead?  How did they credit the accrued interest if so?

Thanks

The best option is to open the new one, transfer the money yourself and then close the old one via the chatbot. My old account only had £1 in it for quite a while so there was no interest due, but I seem to remember that you're given the option of what to do with any interest that is due when requesting the closure and paying it into the new account is an option.

After requesting closure of the old account in this way, it took 2 days for it to disappear from online banking so you might have to wait a few days for the balance and/or interest to be transferred, which is why it's better to open the new account and transfer the money yourself if you want to do this the quickest way.

Swipe

hallmark said:

Has anybody closed an existing Easy Access Saver (the one that pays 4.05%) early in order to open one of these instead?  How did they credit the accrued interest if so?

Thanks

I opened a new one and transferred the balance over. I will log back in on 11th when the monthly interest is paid and then move it over to the new one leaving it with just a pence in so I still have access to my statements and so that I still get the annual statement for my records.

Bobblehat

Wheres_My_Cashback said:

hallmark said:

Has anybody closed an existing Easy Access Saver (the one that pays 4.05%) early in order to open one of these instead?  How did they credit the accrued interest if so?

Thanks

They credit in the way you tell them to credit it.

As above comment .... if you close via the chatbot, you get a choice as to where the proceeds (capital & interest) are to be sent. My £1 from Issue 1 landed in Issue 3 today and magically turned into £4.49!

dealyboy

I've left my old eSaver (Easy Access Saver) open ... just in case ... you never know with Santander ... I'm hoping they'll up it to 5.5%  .

badger09

notbritishgas said:

badger09 said:

notbritishgas said:

notbritishgas said:

Just opened the new easy access saver via my online account. Up and running within minutes.
However wanted it to be joint account but was not given the option when applying.
Any body else in this situation.
Tried ringing them waited 15 minutes and when got to the important bit the call cleared down.

Thanks to all that replied.
I think my problem was I applied whilst logged in to my on line account.
It did not give me an option to add another name.
I can see that if applying normally there is an option.

Hmm as I posted earlier, I applied in app, so obviously logged in, for a joint account, so not sure why you didn’t get that option. 

Thanks
I must have had a senior moment in my rush to open the account.
Yes there is a joint account button there.
Just closed the single account and will open a joint one.

Glad you got it sorted. I’m also prone
to senior moments, but then so is my son. And he’s mid 40s😉

Yellowman

dealyboy said:

I've left my old eSaver (Easy Access Saver) open ... just in case ... you never know with Santander ... I'm hoping they'll up it to 5.5%  .

Is it recommended to leave on old Santander EA savings account open if a new one (with a higher rate) has been opened?

Would the old one ever likely to be changed to a higher rate than the new one over time?

refluxer

Yellowman said:

dealyboy said:

I've left my old eSaver (Easy Access Saver) open ... just in case ... you never know with Santander ... I'm hoping they'll up it to 5.5%  .

Is it recommended to leave on old Santander EA savings account open if a new one (with a higher rate) has been opened?

Would the old one ever likely to be changed to a higher rate than the new one over time?

While increasing the rate on previous issues only isn't unprecedented among certain banks, it's often only a temporary thing (in an effort to reward existing customers i suspect) and I'm instinctively thinking that Santander won't do that with this one so I've closed mine. There are no guarantees though, obviously.