Santander's new 8% regular saver?

boco803

What are peoples' thoughts on their new offering - especially for existing customers?

Is it a no brainer? How quick was it to actually close your old RS when going via chat before you were able to open the new RS?

I note that rather than rolling into a new RS in 12 months time (with accumulated funds and accrued interest auto-transferred to your current account), this one leave your funds in the account to earn 3% from month 13. I suppose there's nothing stopping you to transfer out the £2400 yourself? Or even go through the process of closing the account to open another new RS this time next year?

Any good or bad points to consider leaving it as is with the 5% account? There's nothing to suggest it'll be maintained at 5%.

Middle_of_the_Road

Think you've covered all the variables. Definitely worth closing the existing one to open the 8% version. Takes a couple of days to close once requested in chat.