what are people doing about santander 1/2/3 change? - HotUKDeals
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what are people doing about santander 1/2/3 change?

£0.00 @ Santander
halving the interest to 1.5% ... it was paying me a nice little wage of £150 a month (3 accounts, me, mum and a joint account with mum) anyone switching ? would it be advisable to open up multiple… Read More
jake_kingofmen Avatar
8m, 2w agoPosted 8 months, 2 weeks ago
halving the interest to 1.5% ... it was paying me a nice little wage of £150 a month (3 accounts, me, mum and a joint account with mum)

anyone switching ? would it be advisable to open up multiple bank accounts to take advantage of all the interest...Tesco 3% up to £3000, Lloyd's 4% up to £5000 etc.? really disappointed with this change... we knew it was coming but didn't think it would be so severe.

I really want to get them back by switching but as it stands they still offer the best interest rate.

Thanks
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jake_kingofmen Avatar
8m, 2w agoPosted 8 months, 2 weeks ago
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#1
There's not really at lot else out there for the 20k or 60k potentially in your case where u can better then 1.5% on the whole amount plus lloyds is reviewing theirs
#2
nicola2710
There's not really at lot else out there for the 20k or 60k potentially in your case where u can better then 1.5% on the whole amount plus lloyds is reviewing theirs

agreed, just feel betrayed haha! ... been advised to wait till November see how everyone else change, particularly lloyds like you said... I'm going to open a couple of Tesco banks in the mean time... no monthly fee, no minimum pay in and no minimum direct debits... essentially just a savers account that pays 176 a year! not bad
#3
TSB 5% upto £2000 before tax, but apparently under review.

Edited By: OBH6UK on Sep 07, 2016 15:47: Add info
#4
There are also peer-to-peer lending platforms such as Ratesetter which have higher rates, but obviously those aren't covered under deposit protection so treat them more as a lower-risk investment product than a protected savings account.
#5
Bo's vantage 3 accounts at 3pc on 5k each next best..need 6dd for this setup tho.. what I've done
#6
jake_kingofmen
nicola2710
There's not really at lot else out there for the 20k or 60k potentially in your case where u can better then 1.5% on the whole amount plus lloyds is reviewing theirs
agreed, just feel betrayed haha! ... been advised to wait till November see how everyone else change, particularly lloyds like you said... I'm going to open a couple of Tesco banks in the mean time... no monthly fee, no minimum pay in and no minimum direct debits... essentially just a savers account that pays 176 a year! not bad
Can you please explain how tesco pays £176 a year at 3% on £3000, thought it would be £90.
#7
Daytrader
jake_kingofmen
nicola2710
There's not really at lot else out there for the 20k or 60k potentially in your case where u can better then 1.5% on the whole amount plus lloyds is reviewing theirs
agreed, just feel betrayed haha! ... been advised to wait till November see how everyone else change, particularly lloyds like you said... I'm going to open a couple of Tesco banks in the mean time... no monthly fee, no minimum pay in and no minimum direct debits... essentially just a savers account that pays 176 a year! not bad
Can you please explain how tesco pays £176 a year at 3% on £3000, thought it would be £90.


You can have 2 Tesco bank current accounts ;)
#8
cliosport65
Daytrader
jake_kingofmen
nicola2710
There's not really at lot else out there for the 20k or 60k potentially in your case where u can better then 1.5% on the whole amount plus lloyds is reviewing theirs
agreed, just feel betrayed haha! ... been advised to wait till November see how everyone else change, particularly lloyds like you said... I'm going to open a couple of Tesco banks in the mean time... no monthly fee, no minimum pay in and no minimum direct debits... essentially just a savers account that pays 176 a year! not bad
Can you please explain how tesco pays £176 a year at 3% on £3000, thought it would be £90.
You can have 2 Tesco bank current accounts ;)
Dam that is good, thought bank accounts are tied to your NI number and only allowed one.
#9
Try nationwide 1 year fixed @5% 500 max a month for 12 month so 6k but drops to 1% after
#10
Daytrader
Dam that is good, thought bank accounts are tied to your NI number and only allowed one.

No, you can have pretty much as many as you want, though obviously each bank knows/should know how many you have, and be able to limit you that way (if they want to). But theoretically there's nothing stopping you having an account with every bank out there.

At a minimum generally each bank allows you to have two (one individual and one joint).


Edited By: Muir on Sep 07, 2016 20:10
#11
Ah, im single, so i guess i can have only one with each bank, oh well.
#12
Daytrader
Ah, im single, so i guess i can have only one with each bank, oh well.
No, Bank of scotland allow 3 vantage current accounts
#13
Thats interesting, cheers
#14
If it's savings and you're not touching it, wouldn't you be better off with an ISA?
#15
bobdylan
If it's savings and you're not touching it, wouldn't you be better off with an ISA?
Most ISAs are paying next to sod all these days.

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