OH has Santander 123 still, add me for a joint account?

Northynorthy

Hi,

Looking into setting up a joint account with the OH. She seems to still have a fully fledged Santander 123 account, still giving tiered cash back. Do Santander honour the full tiered cash back for existing customers? This account doesn't seem to be available any more.

If we try to add me to the account to make it a joint account (and the OH gets a new personal account), does anyone know if the account would stay the same, with the same tiered cash back, or would it automatically be changed to an account that's available now?

I think if it stayed as a full 123 account it's the best option account for a joint account, or is there something better?
What would be the best option if it was to change to an account that they currently offer?

Thanks,

G

WillPS

Northynorthy said:
Looking into setting up a joint account with the OH. She seems to still have a fully fledged Santander 123 account, still giving tiered cash back. Do Santander honour the full tiered cash back for existing customers? This account doesn't seem to be available any more.

If we try to add me to the account to make it a joint account (and the OH gets a new personal account), does anyone know if the account would stay the same, with the same tiered cash back, or would it automatically be changed to an account that's available now?

Yep, account is NLA (no longer available) but you can add and remove account holders to an existing account, and the account will remain as is. I added my wife to my existing 123 Lite account a couple of months ago, it's still a 123 Lite account.

I fully expect the 123 and 123 Lite will be binned off entirely at some point, but it's good while it lasts

Northynorthy said:

I think if it stayed as a full 123 account it's the best option account for a joint account, or is there something better?
What would be the best option if it was to change to an account that they currently offer?

Depends what you're after. If you want an account which pays cashback on your monthly bills, you're unlikely to do better than 123.

Santander have a calculator to help you work out how an Edge account would compare:
https://www.santander.co.uk/landing/current-accounts/cashback

(If you're tempted by the high interest savings, it might be worth opening an Edge account *in addition* to keeping your 123 account - you don't have to pay a fee until you set up direct debits)

Northynorthy

WillPS said:

(If you're tempted by the high interest savings, it might be worth opening an Edge account *in addition* to keeping your 123 account - you don't have to pay a fee until you set up direct debits)

Why would this be an idea?


So it looks like we change my OH current account into our new joint account, and she gets a new personal joint account.
What's a good option for a personal account?

PRAISETHESUN

Northynorthy said:

WillPS said:

(If you're tempted by the high interest savings, it might be worth opening an Edge account *in addition* to keeping your 123 account - you don't have to pay a fee until you set up direct debits)

Why would this be an idea?


So it looks like we change my OH current account into our new joint account, and she gets a new personal joint account.
What's a good option for a personal account?

Basically there's a way to hold an Edge account and get some of the benefits, but not have to pay the monthly fee. Given the 123 pays better cashback, and the Edge has a high interest saver you can also open, you can get the best of both worlds.

In a nutshell as long as you never qualify for cashback on your Edge account (either by having less than 2x DDs (ie. one or zero DDs) on the account, or by not paying in more than £500 each month), then you don't pay the fee. But crucially, this still lets you open the Edge saver. Could be a good option for a personal account if you wanted one in addition to the joint 123.

Northynorthy

Hi,
I'm re-visiting this as we never got round to sorting it out.
Looking at the Edge account I don't see an option of opening it without paying the £3 fee?
Also, if this was to become the OH's current account, then there would be more than £500 being paid in every moth, so that would trigger the fees anyway?

Is this the best current account or should we be looking at opening another current account to use as her sole account?

Thanks,

G

Nasqueron

Northynorthy said:

Hi,
I'm re-visiting this as we never got round to sorting it out.
Looking at the Edge account I don't see an option of opening it without paying the £3 fee?
Also, if this was to become the OH's current account, then there would be more than £500 being paid in every moth, so that would trigger the fees anyway?

Is this the best current account or should we be looking at opening another current account to use as her sole account?

Thanks,

G

If quick, they have an offer where they pay the first year / £36 for you (and TopCashBack was offering £22 if applying via them, maybe the same) and you pay in £500. I believe it has been stated on here a few times that provided you don't activate the account by not adding DD, you won't get any fee. If you do then make sure you're getting cashback from the DDs

https://www.santander.co.uk/personal/current-accounts/santander-edge-offer