Santander Select / Word Elite
Discussion
Every couple of years I review my banking arrangements and switch around to whomever offers the best deal at the time.
Having previously banked for a number of years with First Direct (excellent, but non-competitive products) I moved two years ago to Nationwide. However, they've now put up their fee which spurred me on to reviewing alternatives. I also have an Amex Gold charge card which is nearing its 12-month anniversary with a £140 fee to pay if I want to keep it.
Since I last reviewed my banking, my pay has increased substantially (no willy-waving; small fry compared to some figures I see on here from time-to-time) but this has opened up the possibility of so-called premier versions of the retail bank offerings - I know this is just a marketing gimmick in the main, it's hardly Coutts, but some seem to give good added value.
The Santander Select account and added World Elite Mastercard currently look like a reasonable deal worth exploring. On the current account, there's a £5 monthly charge, although I'd get at least that back in cashback on direct debits, plus 1.5% on balances of up to £20k. I have cash amounts banked elsewhere earning less than this, so that looks fairly useful. The World Elite card costs £180 per year, but does have 0.5% cashback so based on previous spend history that'd net off that cost, plus it has unlimited access to airport lounges. This bit is of interest to me as I now travel a bit more and my current Amex Gold only allows two complimentary passes per year which is a bit stingy. Amex have offered to upgrade me to their Platinum charge card to take advantage of unlimited access to airport lounges, but this comes with what I feel is a fairly whopping fee of £450 per annum!
The mildly worrying aspect for me is that I hear that Santander customer service is to be avoided at all cost. I like an easy life and want products that just work. I wonder whether their Select account, which supposedly gives access to a 'Relationship Manager' and guaranteed UK-based call centres fares better? I strongly suspect the Relationship Manager is there to sell more products, but it's easy to say no!
Does anyone have any recent experience of Santander Select?
Having previously banked for a number of years with First Direct (excellent, but non-competitive products) I moved two years ago to Nationwide. However, they've now put up their fee which spurred me on to reviewing alternatives. I also have an Amex Gold charge card which is nearing its 12-month anniversary with a £140 fee to pay if I want to keep it.
Since I last reviewed my banking, my pay has increased substantially (no willy-waving; small fry compared to some figures I see on here from time-to-time) but this has opened up the possibility of so-called premier versions of the retail bank offerings - I know this is just a marketing gimmick in the main, it's hardly Coutts, but some seem to give good added value.
The Santander Select account and added World Elite Mastercard currently look like a reasonable deal worth exploring. On the current account, there's a £5 monthly charge, although I'd get at least that back in cashback on direct debits, plus 1.5% on balances of up to £20k. I have cash amounts banked elsewhere earning less than this, so that looks fairly useful. The World Elite card costs £180 per year, but does have 0.5% cashback so based on previous spend history that'd net off that cost, plus it has unlimited access to airport lounges. This bit is of interest to me as I now travel a bit more and my current Amex Gold only allows two complimentary passes per year which is a bit stingy. Amex have offered to upgrade me to their Platinum charge card to take advantage of unlimited access to airport lounges, but this comes with what I feel is a fairly whopping fee of £450 per annum!
The mildly worrying aspect for me is that I hear that Santander customer service is to be avoided at all cost. I like an easy life and want products that just work. I wonder whether their Select account, which supposedly gives access to a 'Relationship Manager' and guaranteed UK-based call centres fares better? I strongly suspect the Relationship Manager is there to sell more products, but it's easy to say no!
Does anyone have any recent experience of Santander Select?
Shambler said:
I have the santander world elite credit card and have had no issues, use it all the time for airport lounges.
Thanks - good to know. I understand with the World Elite card, as with HSBC, you can just show the card - provided it's registered - to gain entry? If so, this would be far better than the Amex Gold offering where passes need to be sent to me in advance!Beanbob said:
Does anyone have any recent experience of Santander Select?
I've been a select customer for just over a year and I've found my manager very easy to contact, either by email or even what's app.Not pushy with the sales at all and even helped my partner with her banking, granted this was moving her to Santander but not as a select account.
I also have Santander Select and find the customer service to be very good. Dedicated number and area in most branches.
That said, I think Santander have improved in this area across all their offerings? In addition, the cash back certainly helps - I receive far more back then what I pay in fees.
That said, I think Santander have improved in this area across all their offerings? In addition, the cash back certainly helps - I receive far more back then what I pay in fees.
Thanks for the replies.
Some positive pre-account opening feedback so far. Have already had direct email and phone conversations with my soon-to-be 'Relationship Manager'. It's quite novel having one person based at a local branch to deal with, rather than having to call a call centre!
Some positive pre-account opening feedback so far. Have already had direct email and phone conversations with my soon-to-be 'Relationship Manager'. It's quite novel having one person based at a local branch to deal with, rather than having to call a call centre!
I have a Natwest Black Account, it's £28 per month but as it's a joint account we get most of the benefits twice. For example we get 2 Priority Pass cards, so we can both have unlimited lounge access.
It's also a reward card, and we get about £10 a month in cashback.
I've also claimed on the travel insurance, phone insurance (twice) and home emergency cover (twice), so I really get my money's worth.
You're also entitled to a free Natwest Black credit card if you're a Black account holder.
It's also a reward card, and we get about £10 a month in cashback.
I've also claimed on the travel insurance, phone insurance (twice) and home emergency cover (twice), so I really get my money's worth.
You're also entitled to a free Natwest Black credit card if you're a Black account holder.
XJ75 said:
I have a Natwest Black Account, it's £28 per month but as it's a joint account we get most of the benefits twice. For example we get 2 Priority Pass cards, so we can both have unlimited lounge access.
It's also a reward card, and we get about £10 a month in cashback.
I've also claimed on the travel insurance, phone insurance (twice) and home emergency cover (twice), so I really get my money's worth.
You're also entitled to a free Natwest Black credit card if you're a Black account holder.
Sadly I don't quite earn enough to meet their minimum requirements. I must work harder! It's also a reward card, and we get about £10 a month in cashback.
I've also claimed on the travel insurance, phone insurance (twice) and home emergency cover (twice), so I really get my money's worth.
You're also entitled to a free Natwest Black credit card if you're a Black account holder.
The most expensive priority pass membership is £259/yr I think. So I can't really see the point of paying these high fees for a card. The platinum amex is particularly bonkers.
The best card I have is the Lloyd's joint MC/Amex Avios, with no foreign transaction fees. Cost per year £24. I've had mine just under 18 months and saved several thousand in fees already due to the amount of travel for work I do and I've so many airmiles I can usually get into a lounge with those on common routes. It's hard to see the NatWest Black as a good deal IMO compared to that.
The best card I have is the Lloyd's joint MC/Amex Avios, with no foreign transaction fees. Cost per year £24. I've had mine just under 18 months and saved several thousand in fees already due to the amount of travel for work I do and I've so many airmiles I can usually get into a lounge with those on common routes. It's hard to see the NatWest Black as a good deal IMO compared to that.
Edited by Buffalo on Saturday 9th December 01:01
Buffalo said:
The most expensive priority pass membership is £259/yr I think. So I can't really see the point of paying these high fees for a card. The platinum amex is particularly bonkers.
That's £259 each I presume. So if my partner and I had a single World Elite MasterCard account with two cards at £180, that would seem a good deal at £90 each.That's not counting that I'd get most of it back as cashback!
Or am I missing something?
I have this setup. Yes joint cardholder is free. So 2 for 1.
Lounge access is ok, as good coverage as priority pass if not better. (One US airport we got $28 each credit to use in a restaurant, beer and mains with change left over)
As said the cashback pretty much cancels the charge out but is capped. However another benefit not mentioned is that all foreign transactions (except cash withdrawl) are free from any charges. Which is a big plus if you travel a lot.
I dumped Halifax Clarity (no lounge access) and Natwest committed suicide by cancelling their black card.
Plus I dont want to pay fees if I can help it so no amex etc.
Worth getting IMO. With the cashback its basically almost zero cost.
Lounge access is ok, as good coverage as priority pass if not better. (One US airport we got $28 each credit to use in a restaurant, beer and mains with change left over)
As said the cashback pretty much cancels the charge out but is capped. However another benefit not mentioned is that all foreign transactions (except cash withdrawl) are free from any charges. Which is a big plus if you travel a lot.
I dumped Halifax Clarity (no lounge access) and Natwest committed suicide by cancelling their black card.
Plus I dont want to pay fees if I can help it so no amex etc.
Worth getting IMO. With the cashback its basically almost zero cost.
Beanbob said:
That's £259 each I presume. So if my partner and I had a single World Elite MasterCard account with two cards at £180, that would seem a good deal at £90 each.
That's not counting that I'd get most of it back as cashback!
Or am I missing something?
I was thinking more of the NatWest black at £28/month, which is more than PP. And definitely the platinum amex. I had missed the Santander offering. I think if you can get the world elite at that price - and you get free foreign transactions as well then that probably makes it more attractive. That's not counting that I'd get most of it back as cashback!
Or am I missing something?
But still, the Lloyd card does all bar the cashback - but you do get an air travel upgrade voucher if you spend more that £7k in a year - for £24/yr. The difference is it isnt marketing itself as an exclusive "club".
Easternlight said:
Beanbob said:
Does anyone have any recent experience of Santander Select?
I've been a select customer for just over a year and I've found my manager very easy to contact, either by email or even what's app.Not pushy with the sales at all and even helped my partner with her banking, granted this was moving her to Santander but not as a select account.
The Relationship Manager guff is just someone trying to sell you things, now that they know you earn 80k plus. I have a portfolio of investments, and zero are with Santander, enough said...
Edited by The_Doc on Saturday 9th December 11:25
The_Doc said:
Easternlight said:
Beanbob said:
Does anyone have any recent experience of Santander Select?
I've been a select customer for just over a year and I've found my manager very easy to contact, either by email or even what's app.Not pushy with the sales at all and even helped my partner with her banking, granted this was moving her to Santander but not as a select account.
The Relationship Manager guff is just someone trying to sell you things, now that they know you earn 80k plus. I have a portfolio of investments, and zero are with Santander, enough said...
Edited by The_Doc on Saturday 9th December 11:25
The UK call centres are always helpful and polite, but I don't think I have had any product significantly better than the standard 123 customer would get. When they were paying approx. 3% on £20K it was competitive, but then the funding for lending scheme killed interest, and seemingly also killed Santander's desire to compete.
I am thinking of closing my accounts with them now, Select might be more attractive if you have large debts, but you would need to look into that yourself.
The Relationship Manager can be handy, but really that is a sales channel...
For me there were better credit cards etc elsewhere.
What does the "relationship manager" actually do? I've had a 123 account, 123 credit card and zero account with Santander for years, plus my Alliance and Leicester mortgage and until recently an ISA. Never had any problems with customer services, they seem to be one of the few banks with plenty of branches around so whenever I've wanted to discuss anything I've been and seen someone in the local branch.
"Free" access to airport lounges sounds like a nice to have as I work abroad a lot but it seems quite expensive.
"Free" access to airport lounges sounds like a nice to have as I work abroad a lot but it seems quite expensive.
Thumbs up for Santander Select. if you maximise the benefits of the 123 account (which is super easy to do) you will get far more back than the £5 fee. The Select bit is at no extra cost if you meet the criteria, and in my experience your relationship manager is easy to reach and very helpful. Never had any sales calls etc. No idea about the card, but it sounds ok.
Well, after a short visit to my local branch for a cup of tea and chat with my RM I have an open Select account. There was a small complication with the account opening, but the RM was very pro-active in resolving it and had it all sorted within 24 hours without any level of chasing on my part.
Impressed so far.
Impressed so far.
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