Santander Easy Access Saver - What to do with it?

gt94sss2

BreakingGlass said:

I am slowly* moving the money out of Santander

(* Slowly due to £25k per day limit for withdrawals)

If you're willing to call Santander, they can transfer upto £100,000/day as a faster payment from your account. 

friolento

gt94sss2 said:

BreakingGlass said:

I am slowly* moving the money out of Santander

(* Slowly due to £25k per day limit for withdrawals)

If you're willing to call Santander, they can transfer upto £100,000/day as a faster payment from your account. 

A one-off Standing Order can be for up to £100,000 at Santander

Swipe

Meanwhile they are putting up their mortgage rates

subjecttocontract

With the savings account at 4.2% in a few weeks & uncompetitive ISAs they are going to haemorrhage funds pretty quickly.

Kim_13

Already reduced to £1 - keeping open as I don’t have another account with Santander, so it’s a foot in the door as it were.

Skipton Member Bonus is my main EA account (will be down to a few hundred by June, all set up to meet monthly pay ins and feed my priority Regular Savers) with Chase used as a holding account if I need to earmark funds. I’m mainly using Regular Savers allowing withdrawals for funds that have no particular purpose, for a higher rate and because it makes sense to feed them while there is monthly deposit allowance available. Monmouthshire Issue 2 that I funded last minute ‘in case’ is now coming into its own.

cloud_dog

BreakingGlass said:

I am slowly* moving the money out of Santander and into my new Shawbrook 45-day notice account at 5.16% - I want to do so now in case the latter becomes non-available hence stops accepting deposits.  My other accounts with >5% are near FSCS limit, and I am trying to avoid opening further new accounts this tax year in order to simplify my finances.

(* Slowly due to £25k per day limit for withdrawals)

I will then close the account and take the interest elsewhere.

I'm sure you can change the daily transfer amount to £100k in the mobile app (old version certainly).

ColdIron

cloud_dog said:

BreakingGlass said:

I am slowly* moving the money out of Santander and into my new Shawbrook 45-day notice account at 5.16% - I want to do so now in case the latter becomes non-available hence stops accepting deposits.  My other accounts with >5% are near FSCS limit, and I am trying to avoid opening further new accounts this tax year in order to simplify my finances.

(* Slowly due to £25k per day limit for withdrawals)

I will then close the account and take the interest elsewhere.

I'm sure you can change the daily transfer amount to £100k in the mobile app (old version certainly).

I have the old app and the maximum is £25,000

friolento

cloud_dog said:

BreakingGlass said:

I am slowly* moving the money out of Santander and into my new Shawbrook 45-day notice account at 5.16% - I want to do so now in case the latter becomes non-available hence stops accepting deposits.  My other accounts with >5% are near FSCS limit, and I am trying to avoid opening further new accounts this tax year in order to simplify my finances.

(* Slowly due to £25k per day limit for withdrawals)

I will then close the account and take the interest elsewhere.

I'm sure you can change the daily transfer amount to £100k in the mobile app (old version certainly).

Doesn’t work in my old version of the app. I can set up a single SO for more than £25k though

SAC2334

dealyboy said:

In addition to my Santander Easy Access Saver Issue 3's reduction in interest rate on May 20, my Easy Access Saver Issue 1 is changing to an Everyday Saver Issue 2 on June 12th with the interest rate 1.20%.

I am more concerned about my EA Saver Issue 1, whereas it only has a residual balance of 2p and has had that since my credit interest was received in October 23, it is used as my distribution hub whereby all my other accounts are maintained. I hope that my payees will be retained when my account converts.

Regarding the EA Saver Issue 3, I will move funds to the Chase Saver at 5.1%, bar 3p. I hope I can move funds from Chase to the Everyday Saver Issue 2, hopefully retaining its original account number.

Get ready to have the transfers blocked and they  fraud check you .Santander appear to have increased fraud checks but I expect its because they know I am over 70 and therefore plain stupid ..I made a few transfers to the Chase 5.1 account  and was blocked three times with two being an hour apart with the second block taking 35 mins to answer the phone .I was doing it in several transfers as my money was very slow coming in from Shawbook . Next time on 20 th May I will just do one big transfer and expect to be blocked .

cloud_dog

ColdIron said:

cloud_dog said:

BreakingGlass said:

I am slowly* moving the money out of Santander and into my new Shawbrook 45-day notice account at 5.16% - I want to do so now in case the latter becomes non-available hence stops accepting deposits.  My other accounts with >5% are near FSCS limit, and I am trying to avoid opening further new accounts this tax year in order to simplify my finances.

(* Slowly due to £25k per day limit for withdrawals)

I will then close the account and take the interest elsewhere.

I'm sure you can change the daily transfer amount to £100k in the mobile app (old version certainly).

I have the old app and the maximum is £25,000

Very strange because I was using an old Santander account for processing a deceased estate (back end of last year / early this year) and was able increase the default and make disbursement payments up to £100k in total.