Santander Investment Hub

2

Comments

  • dunstonh
    dunstonh Posts: 116,365 Forumite
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    Bank products are perfect for the typical bank customer the bank is targetting. Usually expensive and poor quality and ideally suited for people that don't know what they are doing. Its a match made in heaven.... as far as the banks are concerned.
    do they credit check you for access to the hub or not,

    No platforms do this unless you have an advanced one that allows borrowing to invest.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • JackeeBoy
    JackeeBoy Posts: 229 Forumite
    I've been Money Tipped!
    I had a stock ISA with Lloyds Bank through Scottish Widows and I just saw it has a basic savings account. Put a couple hundred every month and 5 years later was worth quite a lot more from what I put in. Just opened the Santander one and it seems simple enough though I have not seen any of the fees yet.
  • Alexland
    Alexland Posts: 9,653 Forumite
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    S&S ISAs are not basic savings accounts.

    You opened an investment account without looking at or considering/comparing the fees???

    Sounds like you are the ideal customer - lucky Santander.

    Alex
  • JackeeBoy
    JackeeBoy Posts: 229 Forumite
    I've been Money Tipped!
    Alexland wrote: »
    S&S ISAs are not basic savings accounts.

    You opened an investment account without looking at or considering/comparing the fees???

    Sounds like you are the ideal customer - lucky Santander.

    Alex
    True. Only doing £50 a month and really could not be bothered to shop around or think about it too much.

    Any suggestions from yourself though?
  • Alexland
    Alexland Posts: 9,653 Forumite
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    Thankfully Santander's 0.35% ongoing platform fee for the first £50k is not too bad but there are cheaper options such as Vanguard Investor at 0.15% ongoing (however their minimum is £100 per month) or Cavendish at 0.25% ongoing (minimum £50 per month).

    Without registering I cannot see Santander's investment fund choices (most DIY platforms are more open with what they offer) so cannot comment on the general attractiveness of the funds or which funds they are picking for advised customers. The financial advice is limited so is unlikely to select the most suitable option for your needs. I struggle to see why anyone would pay for this type of advice.

    Alex
  • JGUK
    JGUK Posts: 222 Forumite
    First Anniversary First Post Photogenic
    I did open an account with the Investment Hub just to have a look around really and to maybe put a small amount in one of Santanders Funds.

    They told me I had to wait up to 24hrs so they could complete "further checks" that could sometimes take longer - which was strange as they checked absolutely none of my credit files at all (am a Santander Customer) and then they proceeded to open the Hub anyway, never had that before - anyone else signed up and had that?

    Apart from that all seems pretty straightforward will put £200 into one of the funds to test it all out and go from there.
    Thanks
    JG
  • eskbanker
    eskbanker Posts: 31,015 Forumite
    First Anniversary Name Dropper Photogenic First Post
    JGUK wrote: »
    They told me I had to wait up to 24hrs so they could complete "further checks" that could sometimes take longer - which was strange as they checked absolutely none of my credit files at all (am a Santander Customer) and then they proceeded to open the Hub anyway, never had that before - anyone else signed up and had that?
    Why is that strange? Last time you resuscitated this old thread and asked, you were told they wouldn't....
  • JGUK
    JGUK Posts: 222 Forumite
    First Anniversary First Post Photogenic
    Yeah I mean no checks at all though of any kind, yet the website said we need to do more checks give us 24hrs or maybe a bit longer!!

    Thats what I thought was strange, not that they didn't do a full credit check on me.

    So I was just wondering if that was maybe the default notice they give to everyone?

    Thanks!
    Thanks
    JG
  • JGUK
    JGUK Posts: 222 Forumite
    First Anniversary First Post Photogenic
    Got the answer today.

    The investment hub setup page put my address in a different format to the Santander banking side so it triggered a manual review - they then went and opened a separate profile for me not linked to my banking profile.

    So its gone off to the back office to merge the two profiles together.

    All sorted hopefully!
    Thanks
    JG
  • Kath_Daniel
    Kath_Daniel Posts: 1 Newbie
    Hello
    Need help please. Is the Santander Investment hub worth joining? I have used my £1000 per year Tax allowance and want to know what to do with the few thousand I have and how to save more. Any advise would be welcomed. Thanks - I'm a novice
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