Banco Santander 123 account

[candy2411]

I have had a non-residents account with Santander for over 10 years with no problems . All I ask them to do is pay my direct debits, I have no debit or credit card with them and have never had an overdraft facility. My account has always therefore been in credit and I have always calculated my expenditure and made sure funds were available to cover.


I do not wish to pay a regular income or pension monthly into the account and therefore do not qualify for free banking.The bank charges have been less than 3 euros per month .

However I have recently been advised by Santander, from February they will be converting my account to their 1 2 3 account for which they charge 24 euros per quarter! Apparently I have no choice in the matter and they are not offering any other option!

Just wondering if anyone else is in the same position and can offer any advice on another bank in Las Galletas or Los Cristianos to change to.

[garlicbread]

Assuming you don't speak Spanish then if you wish to know the rules of the Santander 123 account look on their UK website for all details. They charge £5 per month admin charge which approximates to €8, but if you use the account to the full you'll earn much more than that in interest. Here in Tenerife, it is not, in my opinion, designed for non residents. I'm happy with it because I've been a resident for 12 years, up until the introduction of the 123 account I paid no bank charges at all but I did have to pay to €30+ a year for my credit and debit cards, now they are free too and I get discounts off my utility and local government charges as well as interest on a balance above €2000, all a result as far as I'm concerned.
I think Caixa charge €6 euros per month to administer your account so you could try them , they do have a website in English.

[tfs1]

I have had a non-residents account with Santander for over 10 years with no problems . All I ask them to do is pay my direct debits, I have no debit or credit card with them and have never had an overdraft facility. My account has always therefore been in credit and I have always calculated my expenditure and made sure funds were available to cover.


I do not wish to pay a regular income or pension monthly into the account and therefore do not qualify for free banking.The bank charges have been less than 3 euros per month .

However I have recently been advised by Santander, from February they will be converting my account to their 1 2 3 account for which they charge 24 euros per quarter! Apparently I have no choice in the matter and they are not offering any other option!

Just wondering if anyone else is in the same position and can offer any advice on another bank in Las Galletas or Los Cristianos to change to.

snap ! - seems as if they are all going down that route. A fellow apartment owner is also being charged €24 a quarter and they are with a different bank in Los Cristianos, cant think which one at the moment but it isnt Santander.

Since being advised of the increase I have removed the option to have online statements and online payment advices only and reverted getting them to send everything in the post to our UK address. If I'm paying €8 a month I'm going to make the most of it.

If there are additional benefits I will be happy to make the most of them.

The galling thing for me is that I have just closed our Banco Popular in the mainland to have the convenience of the Santander one in Tenerife and at the time of moving from Banco Popular cheaper banking. At the time when I was moving from Banco Popular the bank charges were approx. €30 every 6 months.

Maybe a trip to Banco Popular is on the cards next week and a visit to our Santander branch to discuss all of the extra benefits and discounts.

[Leam_Lin]

We had an account with Barclays to pay our standing orders, always in credit but cannot remember the charges, but we cancelled our account a number of years ago when the charges went up.

[candy2411]

thanks for replies, it seems I may have to live with the increase then. I suppose in the UK we take free banking for granted.

[tfs1]

thanks for replies, it seems I may have to live with the increase then. I suppose in the UK we take free banking for granted.

Perhaps you may benefit from some of the cashback discounts that have been mentioned.

I can see the advantage of paying a little more if indeed you get a little back.

The bancosantander.es website is pretty good, you need to go to the 123 section at the home page and start from there. It shows the different cashback % values and you just need to input the company name to see if you can get cashback.

Looks promising, I may even turn off the postal mail option again to help save the planet.

[essexeddie]

We were with Barclays but was transferred to Caixa. Their website is excellent. Better than any bank I have been with. And I've been with a few. They seem quite helpful. But dont compare Spanish banks with UK banks. We are happy so far.

[seanocelt]

i got the letter about the 123 account conversion, i thought it said you have to ask them for it, its not automatic but the charges for the old account are increasing?

[tfs1]

i got the letter about the 123 account conversion, i thought it said you have to ask them for it, its not automatic but the charges for the old account are increasing?

I also think you have to fund the account every month with a minimum of €600 to get the all/some of the benefits. So looks ok from our point of view we just need to sort out the cashback isssue - is it automatic or not.

[essexeddie]

snap ! - seems as if they are all going down that route. A fellow apartment owner is also being charged €24 a quarter and they are with a different bank in Los Cristianos, cant think which one at the moment but it isnt Santander.

Since being advised of the increase I have removed the option to have online statements and online payment advices only and reverted getting them to send everything in the post to our UK address. If I'm paying €8 a month I'm going to make the most of it.

If there are additional benefits I will be happy to make the most of them.

The galling thing for me is that I have just closed our Banco Popular in the mainland to have the convenience of the Santander one in Tenerife and at the time of moving from Banco Popular cheaper banking. At the time when I was moving from Banco Popular the bank charges were approx. €30 every 6 months.

Maybe a trip to Banco Popular is on the cards next week and a visit to our Santander branch to discuss all of the extra benefits and discounts.

Dont forget to take a flask and sandwiches. And perhaps a sleeping bag.

[tfs1]

Dont forget to take a flask and sandwiches. And perhaps a sleeping bag. Probably best to make an appointment although the last time we were in there wasnt a queue !

[Angusjim]

All banks in all countries are not to be trusted they are lying robbings *******s who have and continue to rob customers, a fact well known by governments who allow this to happen. It will only change when governments step in to stop the continuing theft :mad:
Sorry for this off topic rant but these bankers do my head in

[melm]

I also think you have to fund the account every month with a minimum of €600 to get the all/some of the benefits. So looks ok from our point of view we just need to sort out the cashback isssue - is it automatic or not.


You must also pay at least two standing orders from this account. Cashback is paid on these standing orders each month. Think you can get cashback if you use your credit card in Tesco's etc. Dont use the credit card so am a little vague about this. The best thing about this account is the interest on your money (up to £20,000) minus the inevitable tax.

[cainaries]

All banks in all countries are not to be trusted they are lying robbings *******s who have and continue to rob customers, a fact well known by governments who allow this to happen. It will only change when governments step in to stop the continuing theft :mad:
Sorry for this off topic rant but these bankers do my head in and insurance companies are the same! Been cashing in an insurance policy and the hoops they have made me jump through have done my head in totally.

[tfs1]

You must also pay at least two standing orders from this account. Cashback is paid on these standing orders each month. Think you can get cashback if you use your credit card in Tesco's etc. Dont use the credit card so am a little vague about this. The best thing about this account is the interest on your money (up to £20,000) minus the inevitable tax.

Thanks for that. We only have a Santander.ES account so its probably more like Carrefour and Mercadona than Tescos and Sainsburys ! but thanks for your feedback.

I notice that the UK credit card is only fee free for the first 12 months on the Santander 123 account and then £24 a year. I will be asking our branch in Los Cristianos if this is applicable to the spanish credit card option.

[tfs1]

Don't confuse Santander UK with Santander Spain, they are two separate legal entities and although they both offer an account called 1,2,3 the accounts are not identical. For instance in the UK you get interest on up to £20,000 whereas it's up to €15,000 in Spain.

Exactly, thats why I need to have a chat with the local branch in Los Cristianos to find out what we have and havent got.

[tfs1]

Thanks for that. We only have a Santander.ES account so its probably more like Carrefour and Mercadona than Tescos and Sainsburys ! but thanks for your feedback.

I notice that the UK credit card is only fee free for the first 12 months on the Santander 123 account and then £24 a year. I will be asking our branch in Los Cristianos if this is applicable to the spanish credit card option.

Have just read that the Santander UK credit card charge is going up from £24 to £36 a year.

[essexeddie]

Probably best to make an appointment although the last time we were in there wasnt a queue !

Couple on our complex made an apointment for one oclock but wasnt seen until three thirty.

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Have just read that the Santander UK credit card charge is going up from £24 to £36 a year.

Who would pay £36 for a credit card in the UK?

[tfs1]

Couple on our complex made an apointment for one oclock but wasnt seen until three thirty.

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Who would pay £36 for a credit card in the UK?

Thankfully we haven't had any delays in previous appointments - 3.30pm blimey ! - must have been a lockin as they normally close doors around 1430. Mary must have been having a bad day.

Like you I wouldnt pay for any credit or debit card.

[seanocelt]

if a forum members gets info ,to save us all making appointments and clogging up wait times please post any updates, i was sure i read it was a choice, or keep old account but charges increase. Either way, more in it for them than us!!

[Malteser Monkey]

Couple on our complex made an apointment for one oclock but wasnt seen until three thirty.

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Who would pay £36 for a credit card in the UK?

I do Eds ! you get cashback which the way I spend totally out weighes the fee !

Best thing I did was open accounts with Santander

[tfs1]

I agree about any feedback We are back in Tenerife early next week, flying in from Spain on Tuesday and will sort out an appointment next week.

[candy2411]

if a forum members gets info ,to save us all making appointments and clogging up wait times please post any updates, i was sure i read it was a choice, or keep old account but charges increase. Either way, more in it for them than us!!

I called in at Santander Las Galletas to discuss and was told there was no option and my account would be automatically changed to the 123 account at a cost of 8 euros per month.If I wanted free banking I would have to arrange for funds of a minimum 600 euros be paid into the account on a monthly basis. I said as I was non-resident with main home in UK this wasn't a good option for me and personal banker suggested I arranged the transfer into the account anyway with a reversion back to UK account :( Unbelievable !

[tfs1]

I called in at Santander Las Galletas to discuss and was told there was no option and my account would be automatically changed to the 123 account at a cost of 8 euros per month.If I wanted free banking I would have to arrange for funds of a minimum 600 euros be paid into the account on a monthly basis. I said as I was non-resident with main home in UK this wasn't a good option for me and personal banker suggested I arranged the transfer into the account anyway with a reversion back to UK account :( Unbelievable !

Thanks for that. I didn't think 600€ transfer in a month gave you free banking but it is one of the requirements to provide the option for cashback on certain companies that you have direct debits with, how much cashback is of course dependant on the size and number of qualifying bills.

I know its not practical for many but for us paying in €600 a month is ok as we have several direct debits from Spain and Tenerife and any cash left over we can draw out as spending money - for others it isn't a good option.

[candy2411]

I've made enquiries at Caja Siete ....for same service as Santander they would charge a non-resident 60 euros per annum. Don't think Ill bother changing just to save 34 euros a year, as I've not had any problems with Santander who've paid my direct debits for over 10 years without a hitch. I suppose by switching and any problem with a payment could end up costing more than I'd be saving !

[seanocelt]

I called in at Santander Las Galletas to discuss and was told there was no option and my account would be automatically changed to the 123 account at a cost of 8 euros per month.If I wanted free banking I would have to arrange for funds of a minimum 600 euros be paid into the account on a monthly basis. I said as I was non-resident with main home in UK this wasn't a good option for me and personal banker suggested I arranged the transfer into the account anyway with a reversion back to UK account :( Unbelievable !

Thanks very much, quality info. Outrageous that no choice is given, not a great increase in fees but will they still charge on top for cards i wonder? After stiffing the taxpayers, then stiffing savers with bad rates, its time to stiff us all. No wonder black economies thrive.

[tfs1]

I've made enquiries at Caja Siete ....for same service as Santander they would charge a non-resident 60 euros per annum. Don't think Ill bother changing just to save 34 euros a year, as I've not had any problems with Santander who've paid my direct debits for over 10 years without a hitch. I suppose by switching and any problem with a payment could end up costing more than I'd be saving !

I agree, its difficult to know what to do, last year we moved from Banco Popular to Santander. Banco Popular were and I presumably still are much cheaper but we did it for other reasons mainly due to our local branch in Spain being closed and our account being moved to a branch miles away.

Our Santander branch is a short walk 'up the road' from us when we are in Los Cristianos.

We moved all the direct debits ourselves without any problems, Santander said they would do it but managed to lose all the documents we gave them to do it on our behalf !

[seanocelt]

Just checked my account online, hard sell advertising but still giving me option to change to it, not automatic.....yet!

[tfs1]

Just checked my account online, hard sell advertising but still giving me option to change to it, not automatic.....yet!

Our account converts to a 123 one mid Feb. We got online correspondance early December 2015 to advise of the move and the increased fees.

[candy2411]

Our account converts to a 123 one mid Feb. We got online correspondance early December 2015 to advise of the move and the increased fees.

same with me, when I called in the branch to query, was told no option. Mine is a non-resident account though, may be better options for resident accounts

[tfs1]

same with me, when I called in the branch to query, was told no option. Mine is a non-resident account though, may be better options for resident accounts

Popped in today and told benefits were only applicable to residents accounts but the fees, €24 a quarter, applied to eveyone - ours is a non resident account. Now wish we had stayed with our €60 a year Banco Popular account !

[JaBBa]

What's the minimum requirements ( Money paid in,Etc ) for La Caxia & Banco Popular?

[tfs1]

What's the minimum requirements ( Money paid in,Etc ) for La Caxia & Banco Popular?

at the time we opened our Banco Popular account, 10 years ago (with our NIE), there were no minimum requirements and bank fees had gone up only a little over the 10 years, final year we were charged €30 every 6 months.

Various reasons meant we moved away from Banco Popular to Santander and at the time they were a charging €3 a month, as we all know its now going up to €8 a month.

Not sure what Banco Popular now charge.

[curriegirl]

We are also non residents and as from 15th February, we will have to pay the new charges with Santander. We spoke to the manager in Santander and he told us that They may be offering a new 123 account for non residents, but we will have to wait until April to find out. He thinks they may also offer another everyday account to non residents with lower charges. We will just have to bite the bullet and pay the charges hoping these new accounts will be offered to no residents.

[tfs1]

We are also non residents and as from 15th February, we will have to pay the new charges with Santander. We spoke to the manager in Santander and he told us that They may be offering a new 123 account for non residents, but we will have to wait until April to find out. He thinks they may also offer another everyday account to non residents with lower charges. We will just have to bite the bullet and pay the charges hoping these new accounts will be offered to no residents.

Thanks for that, I also had the same conversation with our Santander person and she said something similar but clearly didnt believe it ! I suggested why not give a debit card free so we could use the ATMs rather than have to pay to have one (even with a non residents 123 account) or queue for ages if you dont have one.

They will probably only offer a revised account if loads of people move away from Santander, however, I hope we get something cheaper !

ps why april ?

[tfs1]

Thanks for that, I also had the same conversation with our Santander person and she said something similar but clearly didnt believe it ! I suggested why not give a debit card free so we could use the ATMs rather than have to pay to have one (even with a non residents 123 account) or queue for ages if you dont have one.

They will probably only offer a revised account if loads of people move away from Santander, however, I hope we get something cheaper !

ps why april ?

I popped into our local branch here in Los Cristianos last week and was told again they are working on a non residents account.

I was also told my previous standard Santander account with fees of around €3 a month wasn't converted to a 123 account (fees of €8 a month but cashback perks) but converted to one of the other standard account with fees of €8 a month (no cashback perks) as part of there account rationalisation program.

Perhaps an easier option would be to reduce the charges of the latest standard acoount to something more reasonable - simples.

[Tony the Welder]

I have an online account with BBVA. I pay no commission, free banking. In Las Galletas have a word with the guy at the first desk through the door as I do not know if it is just for residents. The guy speaks adequate English.

[tfs1]

I have an online account with BBVA. I pay no commission, free banking. In Las Galletas have a word with the guy at the first desk through the door as I do not know if it is just for residents. The guy speaks adequate English.

Thanks Tony.

Have just got a message to pop into our local Santander branch. They have news which I presume relates to a new 'non resident' account which was expected to be made available following the recent major account changes which placed non residents at a financial disadvantage.

Presume they are doing this, whatever it is, to try and retain good, reliable and trustworthy customers ! Sadly too busy today to go but will pop in tomorrow.

[candy2411]

can you please let us know the outcome of your visit to Santander as I am hoping for a better deal as well. Thanks in advance:goodluck:

[tfs1]

can you please let us know the outcome of your visit to Santander as I am hoping for a better deal as well. Thanks in advance:goodluck:

Happy to pass on any news, hopefully it will be good news. Plan to pop in tomorrow, if it's busy I will have to make an appointment so maybe news will be forthcoming sometime later in the week.

[essexeddie]

I do Eds ! you get cashback which the way I spend totally out weighes the fee !

Best thing I did was open accounts with Santander


I thought we was talking about paying £36 for a credit card not the 123 account?

[tfs1]

we have a midday appointment tomorrow (Friday) so hopefully I can pass on the news good or bad in the afternoon.

[candy2411]

we have a midday appointment tomorrow (Friday) so hopefully I can pass on the news good or bad in the afternoon.

Look forward to hearing the outcome good or bad, thanks.

[tfs1]

Look forward to hearing the outcome good or bad, thanks.

The 'news' was that Santander.es have added 2 additional income options to enable non residents to meet the qualifying 1.2.3 criteria and get the 1.2.3 account benefits.

If you meet the criteria you pay the equivilant of €3 a month if you do not meet the criteria you pay €8 a month.

The options for both are : regular monthly income credited of at least €600 from either a UK Pension or from rental income paid by your Letting agent direct into your Santander account.

The income has to come from anywhere but from an account in your name, it has to be income - you cant just set up a transfer every month from a UK account into the Santander.es account.

Also to get the 1.2.3 benefits you need 3 'regular' direct debits.

Whilst I have a company pension which is more than the minimum required it isn't practical to do that and also we have rental income more than the minimum but its not every month.

So, it may help someone but not us - never mind !

Hope it makes sense

[candy2411]

The 'news' was that Santander.es have added 2 additional income options to enable non residents to meet the qualifying 1.2.3 criteria and get the 1.2.3 account benefits.

If you meet the criteria you pay the equivilant of €3 a month if you do not meet the criteria you pay €8 a month.

The options for both are : regular monthly income credited of at least €600 from either a UK Pension or from rental income paid by your Letting agent

The income has to come from anywhere but from an account in your name, it has to be income - you cant just set up a transfer every month from a UK account into the Santander.es account.

Whilst I have a company pension which is more than the minimum required it isn't practical to do that and also we have rental income more than the minimum but its not every month.

So, it may help someone but not us - never mind !

Hope it makes sense

Thanks for the information...its pretty much what I was told in February although the person I spoke to did suggest rather bizarrely I could have my income paid into Santander then transfer over to UK account. What a strange scenario that would be and just to save 5 euros per month! I don't think so ! I guess I'm going to live with the new charges for now anyway.

I would imagine there may be lots of changes forthcoming if the EU referendum results in a UK exit, pensions, healthcare etc which will make this banking charge insignificant . Thanks again for taking the time to tell us of your findings.:)

[tfs1]

Thanks for the information...its pretty much what I was told in February although the person I spoke to did suggest rather bizarrely I could have my income paid into Santander then transfer over to UK account. What a strange scenario that would be and just to save 5 euros per month! I don't think so ! I guess I'm going to live with the new charges for now anyway.

I would imagine there may be lots of changes forthcoming if the EU referendum results in a UK exit, pensions, healthcare etc which will make this banking charge insignificant . Thanks again for taking the time to tell us of your findings.:)

We will sadly do the same and pay up.

[Ecky Thump]

We will sadly do the same and pay up.

Have you considered the idea of paying money into MY bank account on a monthly basis and then I will transfer it into your Santander account, then it would show up as a regular income.....come on, You Know it Makes Sense.:D

PS. We have ordered the new Masserati MC12 :wink:

[tfs1]

santander branch closures.


http://uk.reuters.com/article/uk-spain-santander-idUKKCN0WY4MG

[candy2411]

It would seem Santander in the UK have launched a new form of 1 2 3 account called 1 2 3 lite account that costs only £1 / month. Apparently the take up by customers of the 1 2 3 account costing £5 / month has not been as popular as they thought !

I can see from Banco Santander website they now have a 1 2 3 mini account at a cost of 1 euro/month , a lot cheaper than the normal one of 7 euros/month. I have tried ringing their English helpline today to enquire if this new account is available to non-residents but have given up after waiting 15 mins in a queue. Just wondering if anyone has any more info .

[essexeddie]

Does the new UK 123 lite account still pay the 3% balance over £3000?

[tfs1]

Think you will find the 'new' Santander 123 mini account is for under 18s only.