Santander 123 Current Account

Options
firefox1956
firefox1956 Posts: 1,548 Forumite
in Budgeting & bank accounts
What is the maximum amount that you can have in a JOINT Santander 123 account ??
I can't for the life of me find the answer on their website.
TIA

Comments

  • colsten
    colsten Posts: 17,597 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Options
    It's probably £2m but you'd not be likely to want more than the FSCS-protected amount in any single bank.
  • hollie.weimeraner
    hollie.weimeraner Posts: 2,147 Forumite
    Name Dropper First Post First Anniversary
    Options
    For a single account £20,000 is the maximum that attracts interest whether it's in joint names or single name. Any more and the interest is 0 so no point in having any more in it.
  • firefox1956
    firefox1956 Posts: 1,548 Forumite
    Options
    hollie.weimeraner wrote: »
    For a single account £20,000 is the maximum that attracts interest whether it's in joint names or single name. Any more and the interest is 0 so no point in having any more in it.

    Yes I already know that.
    Please read my original post.
    :D
  • ceredigion
    ceredigion Posts: 3,709 Forumite
    First Anniversary Photogenic First Post
    Options
    General T&C's
    4.8
    :D
    Don't get excited though
  • Superscrooge
    Superscrooge Posts: 1,171 Forumite
    First Anniversary Name Dropper First Post
    Options
    £2 million seems to be the maximum allowed in any of their savings accounts, although I don't understand why anyone would want to deposit more than £20,000 into a 123 account?
  • colsten
    colsten Posts: 17,597 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Options
    Superscrooge wrote: »
    £2 million seems to be the maximum allowed in any of their savings accounts, although I don't understand why anyone would want to deposit more than £20,000 into a 123 account?
    You could be in between having sold your old mansion and not having found your new one yet. Or you might need an account for your lottery win etc. etc. until you have decided what to do with the money.
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Name Dropper First Post First Anniversary
    Options
    colsten wrote: »
    You could be in between having sold your old mansion and not having found your new one yet. Or you might need an account for your lottery win etc. etc. until you have decided what to do with the money.

    Yes, not a great lottery win though.
  • colsten
    colsten Posts: 17,597 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Options
    bigadaj wrote: »
    Yes, not a great lottery win though.
    I'd gladly take £2m.
  • badger09
    badger09 Posts: 11,206 Forumite
    First Post First Anniversary Name Dropper
    Options
    colsten wrote: »
    I'd gladly take £2m.

    I'd gladly share it with you 50:50:) Especially as I don't enter:D
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards