Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Jlawson118
    • By Jlawson118 15th Sep 18, 7:25 PM
    • 999Posts
    • 143Thanks
    Jlawson118
    Santander Reviews?
    • #1
    • 15th Sep 18, 7:25 PM
    Santander Reviews? 15th Sep 18 at 7:25 PM
    Looking for a new account where I can earn both interest on my balance as well as earn cashback for my bills etc. I've decided in recent weeks that I'm looking to purchase my first property and therefore I'm looking to set up an account for these bills.

    I just opened a Club Lloyd's account a few months ago but they pay 1.5% on balances up to 5000 whereas Santander are offering the same up to 20,000?

    Santander seems to fill the criteria for me, and I'm also considering the Zero credit card to replace my Halifax Clarity.

    Santander is something I do see discussed on here quite often but I'm wondering what current customers think?
Page 1
    • YorkshireBoy
    • By YorkshireBoy 15th Sep 18, 7:47 PM
    • 30,315 Posts
    • 18,223 Thanks
    YorkshireBoy
    • #2
    • 15th Sep 18, 7:47 PM
    • #2
    • 15th Sep 18, 7:47 PM
    You'd almost certainly be better off keeping your cash (if you have any left after the property purchase!) where it is now, and go for Santander Lite...which offers the same cashback on your bills but for 4 less a month.
    • EssexExile
    • By EssexExile 15th Sep 18, 8:20 PM
    • 3,205 Posts
    • 2,269 Thanks
    EssexExile
    • #3
    • 15th Sep 18, 8:20 PM
    • #3
    • 15th Sep 18, 8:20 PM
    If you can keep 20,000 in it then the 123 is good. Some of their customer facing staff are not the best informed but that seems pretty general nowadays. You can make more interest spreading your money around but that's too complicated for me.
    Tall, dark & handsome. Well two out of three ain't bad.
    • Jlawson118
    • By Jlawson118 15th Sep 18, 8:36 PM
    • 999 Posts
    • 143 Thanks
    Jlawson118
    • #4
    • 15th Sep 18, 8:36 PM
    • #4
    • 15th Sep 18, 8:36 PM
    You'd almost certainly be better off keeping your cash (if you have any left after the property purchase!) where it is now, and go for Santander Lite...which offers the same cashback on your bills but for 4 less a month.
    Originally posted by YorkshireBoy
    If you can keep 20,000 in it then the 123 is good. Some of their customer facing staff are not the best informed but that seems pretty general nowadays. You can make more interest spreading your money around but that's too complicated for me.
    Originally posted by EssexExile
    I don't really think I'll get to 20k any time soon anyway, especially after a home purchase! Maybe Lite will be better
    • Whitterbod
    • By Whitterbod 15th Sep 18, 8:54 PM
    • 17 Posts
    • 3 Thanks
    Whitterbod
    • #5
    • 15th Sep 18, 8:54 PM
    • #5
    • 15th Sep 18, 8:54 PM
    The lloyds account has two regular savers as well
    Thats a good idea thanks muchly..
    • Zero Sum
    • By Zero Sum 15th Sep 18, 11:50 PM
    • 553 Posts
    • 445 Thanks
    Zero Sum
    • #6
    • 15th Sep 18, 11:50 PM
    • #6
    • 15th Sep 18, 11:50 PM
    The main santander 123 account has a 5 a month fee. Which if you have the full 20k means you're really only getting 1.2%

    You'd be better off with 123 lite & stashing money in various savings accounts with better rates.
    • Jlawson118
    • By Jlawson118 17th Sep 18, 9:43 AM
    • 999 Posts
    • 143 Thanks
    Jlawson118
    • #7
    • 17th Sep 18, 9:43 AM
    • #7
    • 17th Sep 18, 9:43 AM
    The lloyds account has two regular savers as well
    Originally posted by Whitterbod
    I've got the 5% regular saver with First Direct, should mature around January/February time
    • soulsaver
    • By soulsaver 17th Sep 18, 9:47 AM
    • 2,112 Posts
    • 967 Thanks
    soulsaver
    • #8
    • 17th Sep 18, 9:47 AM
    • #8
    • 17th Sep 18, 9:47 AM
    Tesco 3% on 3K if you can do 3 DDs.. or 1 weekly.
    And you can have 2 accounts = 3% guaranteed until April on 6k .
    • AndyPK
    • By AndyPK 17th Sep 18, 12:33 PM
    • 3,381 Posts
    • 985 Thanks
    AndyPK
    • #9
    • 17th Sep 18, 12:33 PM
    • #9
    • 17th Sep 18, 12:33 PM
    Yeah Santander are a nice bank.


    There are a few other banks which do crash back on household DD's. But not good on the interest side.


    Natwest and Royal bank of Scotland IIRC
    2% ? cashback
    • sal_III
    • By sal_III 17th Sep 18, 3:14 PM
    • 653 Posts
    • 666 Thanks
    sal_III
    A month ago I wanted to open a 123 account with Santander online. Filled in all the details - above average income, no debt and clean credit history with all CRAs. Was instantly declined with an automated message that their decision was based on my Experian credit report.

    Ordered the report and it was basically what I expected - clean with 2 CCs with balances cleared in full each months and an HSBC Advance current account, some searches from insurance providers (car insurance was up for renewal). Experian score of 993 for what is worth.

    Really CBA going in branch or waiting on the phone for an hour looking for explanation. Went for Starling with lower interest on the balance, but far superior customer service.
    • badger09
    • By badger09 17th Sep 18, 5:35 PM
    • 6,378 Posts
    • 5,787 Thanks
    badger09
    A month ago I wanted to open a 123 account with Santander online. Filled in all the details - above average income, no debt and clean credit history with all CRAs. Was instantly declined with an automated message that their decision was based on my Experian credit report.

    Ordered the report and it was basically what I expected - clean with 2 CCs with balances cleared in full each months and an HSBC Advance current account, some searches from insurance providers (car insurance was up for renewal). Experian score of 993 for what is worth.

    Really CBA going in branch or waiting on the phone for an hour looking for explanation. Went for Starling with lower interest on the balance, but far superior customer service.
    Originally posted by sal_III
    It could be something as simple as a slight mismatch between the details you entered in the OLA, and those recorded by Experian.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

98Posts Today

2,163Users online

Martin's Twitter
  • Watching Theresa May... seriously would anyone in their right mind truly want her job right now!

  • RT @thecheekypostie: @MartinSLewis Thanks to this, I have just skim read it. To those in Scotland - on page 548, Dounreay is mentioned by n?

  • Today's twitter poll: The 585 page draft agreement of the withdrawal of the UK from the EU has been published. A? https://t.co/8YLkPyzqYM

  • Follow Martin