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  • FIRST POST
    • harz99
    • By harz99 27th Jan 18, 3:51 PM
    • 2,673Posts
    • 2,602Thanks
    harz99
    Downgrading Santander 123 current account to 123 lite.
    • #1
    • 27th Jan 18, 3:51 PM
    Downgrading Santander 123 current account to 123 lite. 27th Jan 18 at 3:51 PM
    Hi everyone, a quick question - when a 123 account is downgraded to a 123 Lite, do the bank still pay the interest due for the part month up to the change date, or is their some term that says it is forfeit?


    Thanks in advance.
Page 1
    • youngretired
    • By youngretired 27th Jan 18, 5:16 PM
    • 200 Posts
    • 111 Thanks
    youngretired
    • #2
    • 27th Jan 18, 5:16 PM
    • #2
    • 27th Jan 18, 5:16 PM
    I changed mine yesterday and interest and cashback was paid today even though under my old 123 it would have been paid on the 28th.
    • harz99
    • By harz99 11th Feb 18, 8:50 AM
    • 2,673 Posts
    • 2,602 Thanks
    harz99
    • #3
    • 11th Feb 18, 8:50 AM
    • #3
    • 11th Feb 18, 8:50 AM
    I changed mine yesterday and interest and cashback was paid today even though under my old 123 it would have been paid on the 28th.
    Originally posted by youngretired

    Did that change also alter your statement date please?
    • harz99
    • By harz99 11th Feb 18, 12:56 PM
    • 2,673 Posts
    • 2,602 Thanks
    harz99
    • #4
    • 11th Feb 18, 12:56 PM
    Downgrading 123 to 123lite question
    • #4
    • 11th Feb 18, 12:56 PM
    Does this also alter the statement date to the date the changeover is done, or the date final interest/cashback is paid if that is different, or does the statement date remain as the original one please?
    • YorkshireBoy
    • By YorkshireBoy 11th Feb 18, 1:27 PM
    • 30,157 Posts
    • 18,015 Thanks
    YorkshireBoy
    • #5
    • 11th Feb 18, 1:27 PM
    • #5
    • 11th Feb 18, 1:27 PM
    Maybe it would be best to send them a secure message (with your questions clearly laid out), rather than waiting for someone who's downgrade timings/happenings were as important as yours appear to be?

    That way, you've something in writing you can hold them to.
    • youngretired
    • By youngretired 11th Feb 18, 5:11 PM
    • 200 Posts
    • 111 Thanks
    youngretired
    • #6
    • 11th Feb 18, 5:11 PM
    • #6
    • 11th Feb 18, 5:11 PM
    When I downgraded I got issued a statement a couple of days later but up to the day that the cashback and interest was paid (which was the day after downgrading) but this was close to my normal statement day so sorry I can't answer you, as not received my 1st proper 123 Lite statement yet.
    • surreysaver
    • By surreysaver 11th Feb 18, 6:59 PM
    • 2,468 Posts
    • 1,376 Thanks
    surreysaver
    • #7
    • 11th Feb 18, 6:59 PM
    • #7
    • 11th Feb 18, 6:59 PM
    My monthlyversary is the 7th. I applied to downgrade mine last Thursday (8th), it went through on the 9th and I got my outstanding interest yesterday (I usually get the interest on about the 24th). I haven't had a statement yet, though.
    I consider myself to be a male feminist. Is that allowed?
    • Neil Jones
    • By Neil Jones 11th Feb 18, 7:59 PM
    • 1,346 Posts
    • 809 Thanks
    Neil Jones
    • #8
    • 11th Feb 18, 7:59 PM
    • #8
    • 11th Feb 18, 7:59 PM
    A downgrade changes the statement date to when the account was changed so the pay-in month runs, in the case of Youngretired above, 10th of Feb to the 9th of March.
    • Kim_13
    • By Kim_13 11th Feb 18, 9:22 PM
    • 1,901 Posts
    • 2,035 Thanks
    Kim_13
    • #9
    • 11th Feb 18, 9:22 PM
    • #9
    • 11th Feb 18, 9:22 PM
    I have merged both of your threads to keep all of your replies in one place.

    Regards,

    Kim
    Sealed Pot 11 #520 ~ /100
    VSP 2018 #9 ~ 19.55/180.00
    CCCC 2018 #1 ~ 20.75/180.00
    • harz99
    • By harz99 13th Feb 18, 5:02 PM
    • 2,673 Posts
    • 2,602 Thanks
    harz99
    Thanks everyone for your help and responses, the job is now done after a 15 minute phone call and the agent confirmed the future statement date will change in line with the downgrade date.
    • surreysaver
    • By surreysaver 13th Feb 18, 8:15 PM
    • 2,468 Posts
    • 1,376 Thanks
    surreysaver
    My monthlyversary is the 7th. I applied to downgrade mine last Thursday (8th), it went through on the 9th and I got my outstanding interest yesterday (I usually get the interest on about the 24th). I haven't had a statement yet, though.
    Originally posted by surreysaver
    My statement arrived last night in my e-documents. My statement date is therefore now the date I upgraded to the Lite
    I consider myself to be a male feminist. Is that allowed?
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