Best current account - leaving Santander

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stooznoob
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Joined: Thu Oct 22, 2015 5:27 pm

Best current account - leaving Santander

Postby stooznoob » Tue Dec 29, 2015 1:41 pm

Hi, I have been with santander for a while now using their cashback scheme on direct debits to full effect.

But they are upping their fees this year, so i'm jumping ship. Does anyone have any suggestions?
I see natwest seem to have launched a copycat account just to attract the santander migration - Does anyone have an opinion on natwest?

Regards
stooznoob

StringyBob
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Re: Best current account - leaving Santander

Postby StringyBob » Sun Jan 10, 2016 2:07 pm

Hi stooznoob,

My current account is also S123. I''m staying put despite the monthly increase as my direct debit cashbacks cover the £5 charge and you can still get the 3% interest on balances above £3000.

I've not looked into Natwest but I can recommend the TSB classic account that pays 5% gross on balances up to £2000.

Another option is to swap to one of the banks that pays an incentive to switch to them, First Direct, Halifax, Nationwide off the top of my head. You can some times get cashback from Quidco and TopCashback.

I suppose it depends on individual circumstances.

Cheers,
StringyBob

planteria
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Re: Best current account - leaving Santander

Postby planteria » Mon Jan 11, 2016 8:45 am

i would compare Santander with NatWest carefully, and then look to use additional accounts including Nationwide and TSB for interest on balances.
as it happens i use HSBC and Barclays as 'main accounts' but then use the others for the various benefits.

stooz
Site Admin
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Re: Best current account - leaving Santander

Postby stooz » Mon Jan 11, 2016 8:37 pm

The Natwest seems very similar, 3% on most household bills, and a credit card with no fee (as a current account holder) with 1% on most other things.

The fee is less, so if you are't getting the interest on high balances is seems on the surface a good swap.

If nothing else I would be happy to show santander what you think of the terrible leap in charges by voting with your feet somewhere else..


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