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Santander Easy Access Saver - What to do with it?
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cloud_dog said: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.Was it CHAPS? I think that's still £100,000You used to be able to make multiple £25,000 payments up to a daily limit of £100,000, not sure if you still can1 -
ColdIron said:cloud_dog said: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.Was it CHAPS? I think that's still £100,000You used to be able to make multiple £25,000 payments up to a daily limit of £100,000, not sure if you still can2 -
@SAC2334 said: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.
I have just phoned for information regarding the EA issue 1 'conversion' and was advised that my account number and payees would be retained (one is for Chase) ... we'll wait and see ... if necessary I'll setup the payees on another one of my Santander accounts, but I'm too lazy to do this now.0 -
Wheres_My_Cashback said:ColdIron said:cloud_dog said: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.Was it CHAPS? I think that's still £100,000You used to be able to make multiple £25,000 payments up to a daily limit of £100,000, not sure if you still can
Having been bitten by the Santander anti-fraud checks about a year ago, I think I was being over-cautious!0 -
I will be withdrawing to Secure Trust account0
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I was going to revert to a 5.15% at Cynergy (issue 67) but am having all sorts of issues with login.
The OH is having the same issues too.
We've had dozens of these issues before but haven't accessed them for months.
Is anyone else having issues currently?
Historical link below
https://forums.moneysavingexpert.com/discussion/6489162/cynergy-bank-it-issues-cant-access-their-website-is-it-just-me/p1
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I will be transferring mine to Family B.Soc, because their NLA EA online saver 5 is paying 5.1% and they accept debit card deposits which is convenient for my Halifax reward accounts.1
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simonsmithsays said:I was going to revert to a 5.15% at Cynergy (issue 67) but am having all sorts of issues with login.
The OH is having the same issues too.
We've had dozens of these issues before but haven't accessed them for months.
Is anyone else having issues currently?
Historical link below
https://forums.moneysavingexpert.com/discussion/6489162/cynergy-bank-it-issues-cant-access-their-website-is-it-just-me/p10 -
Sea_Shell said:What are peoples plans once the rate drops on this account on 20th May.
Move the money out, obviously
But what of the account itself, especially if you opted for annual interest (Like i did)
Will you leave a £ in and then just wait for the interest to be credited, at the anniversary (Sept for me), in the (vain) hope that the rate may increase again in the future.
All in same tax year, so no consideration needed on that score.
Or ask for it to be closed, so interest is credited to date, and take a chance on any new products in the future?
This way you can keep the compounding going, at whatever better rate you find elsewhere.
Thoughts? Closure seems to be the best option, but have I missed anything?
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simonsmithsays said:I was going to revert to a 5.15% at Cynergy (issue 67) but am having all sorts of issues with login.
The OH is having the same issues too.
We've had dozens of these issues before but haven't accessed them for months.
Is anyone else having issues currently?
Historical link below
https://forums.moneysavingexpert.com/discussion/6489162/cynergy-bank-it-issues-cant-access-their-website-is-it-just-me/p10
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