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Santander Zero current account

Last post Sat, Nov 21 2009, 5:02 PM by mahemick. 2 replies.
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  •  Sat, Nov 21 2009, 5:02 PM

    Re: Santander Zero current account

    well i can see a BIG drawback - its only available to abbey & b&b mortgage holders !

    i largely agree with maxsteam though . we`ve seen these headline grabbing deals from others but they are rarely worth the hassle of moving your account.

    • Post Points: 5
  •  Sat, Nov 21 2009, 4:33 AM

    Re: Santander Zero current account

    The maximum interest that would be paid in a year is 6% of £2500 or £150. My opinion is that it would take a lot of juggling to qualify and keep within the limits and to get that £150 with no charges.

    I understand that the particular deal that is being put in current press releases is only open to people who are already paying more than they should for other Santander products.

    I believe that, if they really wanted to pay 6% interest, they should simply ask for the money for six months, a year, or whatever and then pay the interest. Instead of this, they dream up a complicated scheme whereby they put big posters on the window saying "we pay 6% on current accounts" then they challenge people to stay within the qualifying rules and virtually nobody ever gets 6% and those that do get their "winnings" capped at £150.

    They are currently paying 2.75% on a one year bond.

    • Post Points: 5
  •  Fri, Nov 20 2009, 3:39 PM

    Santander Zero current account

    Santander is launching a current account which will pay 6.0% on balances in credit and charge no overdraft fees. Is it really as good as it sounds? Kate Murphy, researcher at moneysupermarket.com, takes a look…

    Click here to read Kate's article

    What do you think? Do you think this account is as good as it sounds? We'd love to hear your thoughts...

    • Post Points: 35