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1 Sep 15, 08:59 AM |
#1
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Very Serious Dibber
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Santander or Marks and Spencer Accounts?
Being a little nosey here but can anybody tell me their experiences of Santander or M&S accounts?
I can't decide which to open. Santander is sounding a bit too good to be true offering different percentages of cash back on account spending but charging £2 a month whereas M&S are offering 6% interest for the first year. I have both of them pitching their accounts at me and have to decide which to go with. Any feedback would be helpful. Thanks
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: Rea DLP 97/98/99/04/2014 Med Cruise '01/02/04/14/17/April & August 18 FLORIDA 05/06/07/08/10/11/15 Sani Resort 03,Mallorcan Finca 08/13 |
1 Sep 15, 09:26 AM |
#2
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Guest
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I have had Santander for years started back when it was Alliance and Leicester. I have the 123 account and yes it does pay that cashback for a fee of £2.00!
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1 Sep 15, 09:43 AM |
#3
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Imagineer
Join Date: Sep 08
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I have M&S credit card and get points for all spends plus they send me free tea/coffee vouchers every month, free cream tea each year for my birthday, several times a year they send a £10 voucher to spend in a specific department ie home and wear or women's clothing, I also get annual worldwide travel insurance for both of us plus they cover my grand daughters free when they travel with us.
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1 Sep 15, 10:43 AM |
#4
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Disney's Yacht Club Guest
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If you are a big saver then Santander for me. In the small print on the M&S account it says the 6% is limited to £250 a month so the maximum you can make in interest over the 12months is £96 gross or approx £77 after tax.
Santander pays 3% on up to £20,000...when we were saving our house deposit DBF was constantly getting over £20 a month (after tax) in interest from his Santander account. All of all bills come out of that account and we have relatively low direct debits but still make around £4 a month in cashback so the £2 a month is easily covered. We also have the 123 card and put all of our food shopping, petrol and train fare on there and make use of the cashback from that too |
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1 Sep 15, 10:56 AM |
#5
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Imagineer
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Santander 123 for us. Used to have a zero account and converted it to their 123. Never had any problems and the interest is great.
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1 Sep 15, 01:43 PM |
#6
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Apprentice Imagineer
Join Date: Jun 04
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Santander 123 account and credit card for us. We make full use of the 123 account by putting our savings to the max amount, which gives us three percent and pay all our household bills on it. The credit card, we pay our supermarket bills and clothes and petrol on it to get the cashback. Also our mobile bills and tv goes on 123 account.
They also do offers of cashback sometimes on other shops like waitrose etc 10%, but they are usually on a limited time and keep changing. But very useful if you can use it nearby you. We were both with the RBS but got nothing from them. Now we get around £60 a month between us from Santander, best move we made this year. |
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1 Sep 15, 04:20 PM |
#7
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Thread Starter
Very Serious Dibber
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Thanks everyone for your replies. It makes interesting reading. Really appreciate your thoughts. Thank you.
__________________
: Rea DLP 97/98/99/04/2014 Med Cruise '01/02/04/14/17/April & August 18 FLORIDA 05/06/07/08/10/11/15 Sani Resort 03,Mallorcan Finca 08/13 |
1 Sep 15, 04:57 PM |
#8
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VIP Dibber
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Ditto. I have a dilemma at the moment as the money I intended to use to buy premium bonds has been sat in my 123 account for a couple of months and I am now loathe to take it out as I like the interest I'm getting each month. The cash back also takes the sting out of any utility bill increases, when Npower put my monthly payment up I thought ' oh well, at least I'll get more cash back'
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1 Sep 15, 04:57 PM |
#9
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Imagineer
Join Date: Mar 02
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This thread has been automatically closed as it has not been posted on in 365 days.
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