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Santander Easy Access Saver - What to do with it?

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  • To my Cahoot at 5.20% or my Beehive at 5.20%

    Both options still available to me, though Cahoot one has £3k limit.
  • Beddie
    Beddie Posts: 1,012 Forumite
    Part of the Furniture 500 Posts Photogenic Name Dropper
    I'll be closing mine, see no point keeping it.
  • Brie
    Brie Posts: 14,666 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    I'll be leaving mine as it's a hassle to change these too frequently that I would prefer to avoid.  If it was just me I might go for something else but OH has this idea that both our names should be on accounts (just in case) and that opens a whole bucket of worms as far as I'm concerned.  
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  • Sea_Shell
    Sea_Shell Posts: 10,022 Forumite
    Tenth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 28 April 2024 at 5:25PM
    Ours is joint too, and our CA is also with them, so could benefit in keeping a small emergency balance in it, as we usually run the CA to almost empty.

    £100 or so.

    I've no idea exactly how much interest we'll get in September (or in May if closed)...as I haven't been keeping that close an eye on the day on day balances, but we've had anything between £13k and £4k during that time.

    Should've had a spreadsheet 😉
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)
  • soulsaver
    soulsaver Posts: 6,607 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    soulsaver said:
    It will still pay 4.20% after may 20th, so interest is compounding but at a lower rate than you can get elsewhere, at least for the moment.

    Note the account itself is NLA, so the 4.20 is only available to existing holders - so you can't close to get the interest and then reopen. 

    I used it to fund my Sant savings hub - so funds have been going in and out - but my spreadsheet records my estimated interest accrued at £1100 to date.

    So 3.3 months to 'maturity' at start of Sept from May 20th at 1% below the top EA rate ATM ... a potential 'loss' of
    c.£3.00 to leave it open to 'maturity'. 


    Omitted to add it'll be empty May anyway for me. I have a few other 5.20% EA options, assuming they don't disappear in the mean time.
  • Sea_Shell said:
    I'd read on another thread, that their new app doesn't support cheque pay in!!

    I haven't been moved to it yet, so don't know for sure.
    I wrote that - quite surprised when I found out.
  • I have the Skipton account at 5.5% so I will transfer funds into there, I will probably keep it open just in case I need to make small transfers - won't hurt to leave the odd £50 or £100 in at times.
  • 35har1old
    35har1old Posts: 1,905 Forumite
    1,000 Posts Second Anniversary Name Dropper
    I plan to close and move the balance plus interest to Chase Saver (at 5.1% with the 1% bonus I was opportunely able to obtain). 
    Chase is now a tracker account so the interest can change faster
  • ToastLady
    ToastLady Posts: 460 Forumite
    Tenth Anniversary 100 Posts Name Dropper
    I'm going to keep the account open with minimal funding, just will be handy for future accounts and transfers.
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