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  • FIRST POST
    • pinklady21
    • By pinklady21 22nd Mar 18, 12:45 PM
    • 561Posts
    • 383Thanks
    pinklady21
    Santander Regular Saver 5% (123 customers)
    • #1
    • 22nd Mar 18, 12:45 PM
    Santander Regular Saver 5% (123 customers) 22nd Mar 18 at 12:45 PM
    Hello all
    Anyone know the answer to this?
    I have an ordinary current account with Santander. no charges and no interest.

    I also have a 123 "full fat" Santander charging 5 per month, and paying 1.5% interest. It is not my main current account.
    The balance is 20,000 which I want to transfer to an ISA before 5th April.

    I have a linked regular saver paying 5% with a monthly standing order for 200 taken from the 123 account. I have made 5 payments so far, so another 7 payments to go.

    I understand that without a 123 account the interest would reduce to 3%.
    However.... from the info here:
    https://www.santander.co.uk/info/savings/regular-esaver

    it says that to be eligible for the 5%, you only have to be a 123 customer when you open the regular savings account.

    So - my question is: can I close my 123 account, and change the SO to come from my ordinary account, and still achieve the 5% on the regular saver until the end of the 12 months?
    Anyone already done it?

    Thank you!
Page 3
    • matty17r
    • By matty17r 14th Apr 18, 9:09 PM
    • 1,167 Posts
    • 8,395 Thanks
    matty17r
    Thanks for the explanation. I've looked on the BM website and the best paying account I can see is now 0.9% so I'm guessing you have an older account, no longer available.
    Originally posted by mary
    Polymaff - could you please explain the co-op one super DD please. I have a co-op account and was thinking I will have to close this because of the 4 DDs required. I have read this before on another forum but could not understand it! TIA
    • eskbanker
    • By eskbanker 15th Apr 18, 12:16 AM
    • 7,137 Posts
    • 7,562 Thanks
    eskbanker
    Polymaff - could you please explain the co-op one super DD please. I have a co-op account and was thinking I will have to close this because of the 4 DDs required. I have read this before on another forum but could not understand it! TIA
    Originally posted by matty17r
    The Ts & Cs of Co-op's Everyday Rewards require that in every calendar month you need to "Pay out at least four Direct Debits", so, as this doesn't specify four different DDs, executing the same one weekly (i.e. at least four times every month) satisfies their requirement with just one DD mandate....
    • ceredigion
    • By ceredigion 15th Apr 18, 9:54 AM
    • 2,706 Posts
    • 3,586 Thanks
    ceredigion
    Polymaff - could you please explain the co-op one super DD please. I have a co-op account and was thinking I will have to close this because of the 4 DDs required. I have read this before on another forum but could not understand it! TIA
    Originally posted by matty17r
    The Ts & Cs of Co-op's Everyday Rewards require that in every calendar month you need to "Pay out at least four Direct Debits", so, as this doesn't specify four different DDs, executing the same one weekly (i.e. at least four times every month) satisfies their requirement with just one DD mandate....
    Originally posted by eskbanker
    In a similar vain. If you are short of DD's and have or intend to get a Tesco current account (that isn't a legacy account) it might be prudent to study the relevant T&C's.
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