Clean It Up
UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: Paul Coleman on July 17, 2012, 02:57:03 pm
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Apparently, the advertising term "free banking forever" actually means "free banking until we feel like finding a way to removing it".
I already have my complaint number with Santander and have my complaint logged with the FSA.
They removed the facility for new customers a year or so back. I think they will have a fight on their hands when they try removing it for the rest of us.
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Hi
Where did you see this information? I bank with them too.
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I was planning on switching from natwest to santander, what are they charging?
I thought cheques and bacs were free >:(
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Hi
Where did you see this information? I bank with them too.
I got a letter in the post this morning. It was the usual garbage where they try to dress it up as if they are doing you a favour. Many others got the letter too as I checked elsewhere on the internet.
It should be noted that a complaint to the ombudsman about an issue costs the banks £500 per individual case - though there is a filtering mechanism in the ombudsman system to try to prevent trivial complaints going through. So they want to start charging me £7.50 a month do they? <whistles innocently>.
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Same here they say they improving tings and wiil start charging £ 7.50 a month thats not on.
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I was planning on switching from natwest to santander, what are they charging?
I thought cheques and bacs were free >:(
Cheques (within the pre-set limits) and BACS will remain free - but the account will incur a fixed charge of £7.50 a month. I'm not arguing that this is a bad deal. As far as business banking goes, it compares favourably. My point is that when I started this account, I did it on the basis of "free business banking forever" - their words, not mine (within the pre-set parameters).
IMO Santander will experience a big backlash if they try to make this one stick. Presumably they will be happy to lose accounts because those who use them (such as myself) tend to use them because they can do so without charge or with very little charge. Therefore, they would only be losing customers who cost them money. Due to their past incompetence, they have already lost my mortgage and my life insurance. A pity really as I've nothing left to bargain with. However, that ombudsman fee looks tempting. Every little glitch will bring a formal complaint and I will reject any offer they make.
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Anyone affected by this should raise a formal complaint with Santander and get a complaint ID number.
Also, I checked with the Financial Services Authority and this does seem to be within their remit.
The complaint form is on their website at:
http://www.fsa.gov.uk/pages/doing/regulated/promo/report/form.shtml
The more complaints they receive, the more likely that this may be prevented.
Don't leave it to other people.
Although £7.50 a month isn't huge, the principle is that they are trying to break the promise that got them so much business in the first place. If they get away with this, the charges will soon escalate.
Until a few months ago, Santander only charged a tiny amount on personal account overdrafts. Then Halifax started charging £1 a day whatever the overdrawn amount. It didn't take long for Santander to follow. They started with 50p per day and limited it to 15 (I think) days in any charging month. Total maximum of £7.50 a month. Once they realised they could get away with it, the charge went up to £1 a day with a 20 day ceiling - a maximum monthly charge of £20. Trust me, if these vermin get away with this initial break of promise, higher charges will follow.
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I was planning on switching from natwest to santander, what are they charging?
I thought cheques and bacs were free >:(
Cheques (within the pre-set limits) and BACS will remain free - but the account will incur a fixed charge of £7.50 a month. I'm not arguing that this is a bad deal. As far as business banking goes, it compares favourably. My point is that when I started this account, I did it on the basis of "free business banking forever" - their words, not mine (within the pre-set parameters).
IMO Santander will experience a big backlash if they try to make this one stick. Presumably they will be happy to lose accounts because those who use them (such as myself) tend to use them because they can do so without charge or with very little charge. Therefore, they would only be losing customers who cost them money. Due to their past incompetence, they have already lost my mortgage and my life insurance. A pity really as I've nothing left to bargain with. However, that ombudsman fee looks tempting. Every little glitch will bring a formal complaint and I will reject any offer they make.
£7.50 i can handle, i got charged £48 with natwest last month!!!
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I've not received any such letter?
Is it only for accounts opened within the last year or across the piece?
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I've not receieved a letter either, but i'm with Paul on this. I'll be complaining to the FSA. I opened mine Sep 2010.
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As i'm a FSB Member i will be switching to CO OP Business Banking 100%
free.
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See this thread: http://forums.moneysavingexpert.com/showthread.php?t=4074653
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See also: http://www.co-operativebank.co.uk/servlet/Satellite/1196151412542,CFSweb/Page/Business-CurrentAccounts?WT.svl=nav3
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I was planning on switching from natwest to santander, what are they charging?
I thought cheques and bacs were free >:(
Cheques (within the pre-set limits) and BACS will remain free - but the account will incur a fixed charge of £7.50 a month. I'm not arguing that this is a bad deal. As far as business banking goes, it compares favourably. My point is that when I started this account, I did it on the basis of "free business banking forever" - their words, not mine (within the pre-set parameters).
IMO Santander will experience a big backlash if they try to make this one stick. Presumably they will be happy to lose accounts because those who use them (such as myself) tend to use them because they can do so without charge or with very little charge. Therefore, they would only be losing customers who cost them money. Due to their past incompetence, they have already lost my mortgage and my life insurance. A pity really as I've nothing left to bargain with. However, that ombudsman fee looks tempting. Every little glitch will bring a formal complaint and I will reject any offer they make.
£7.50 i can handle, i got charged £48 with natwest last month!!!
HSBC charged me over £90! :'(
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I was planning on switching from natwest to santander, what are they charging?
I thought cheques and bacs were free >:(
Cheques (within the pre-set limits) and BACS will remain free - but the account will incur a fixed charge of £7.50 a month. I'm not arguing that this is a bad deal. As far as business banking goes, it compares favourably. My point is that when I started this account, I did it on the basis of "free business banking forever" - their words, not mine (within the pre-set parameters).
IMO Santander will experience a big backlash if they try to make this one stick. Presumably they will be happy to lose accounts because those who use them (such as myself) tend to use them because they can do so without charge or with very little charge. Therefore, they would only be losing customers who cost them money. Due to their past incompetence, they have already lost my mortgage and my life insurance. A pity really as I've nothing left to bargain with. However, that ombudsman fee looks tempting. Every little glitch will bring a formal complaint and I will reject any offer they make.
£7.50 i can handle, i got charged £48 with natwest last month!!!
Sure thing. A fixed charge of £7.50 a month is not a bad deal. However, anyone who opened one of these accounts until about a year ago was promised "free business banking forever." The other issue is that if they get away with this, the charges will rapidly escalate. They have a recent history of this type of thing with the personal accounts.
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I'm with Natwest Business Banking, apparently our accounts have been (or are in the process of being) switched over /sold to Santander. The £7.50 per month flat fee looks attractive to me at the minute.
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That co-op account is only free for members of the FSB. How much i that?
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It think the FSB is currently £150 the first year, then £120 per year after that.
Still cheaper than the bank charges I'm paying, and I could use my local post office to pay in
Plus the other FSB benefits
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Yes but with FSB you get true free banking (saving £7.50 x 12 = £90 on Santander) plus they give you an annual "loyalty bonus" of £25. So that's £115, so real cost is £35 - not bad for the benefits it affords.
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I used to be with RBS,i switched to santander about 3 months ago and for me the £7 50 per month deal is superb value as I am getting more and more customers paying by faster payment. With RBS it would be £55 and Lloyd's about £65
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I was an A&L customer for 20 years with no problems. Then they became Santander and, at a local branch level, seemed to completely lose the plot.
Problem seems to be that they're still unsure as to whether or not they're a Bank, Building Society or drop in centre.
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what other benefits do you get with the FSB though , are there any valuable benefits or are you paying £150 per year or £12.50 per month for the gift of FREE banking?
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i think its a rough deal. internet payments can be paid into your personal account no problem. its only cheques written in the business name that necessitate a business account. i get maybe 10- 20 cheques a month so its totally not worth me paying £7.50 a month
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prob been discussed on here before, but if sole trading, could we not just use a personal account instead of a business account and avoid charges?
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yes you can, but i still get a lot of cheques in the business name, and when theyre from commercial clients etc i dont really wanna ask them to write it in my name. 5 years down the line when everyone just does online payments, there wont be any need for a sole trader to have a business account
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yes you can, but i still get a lot of cheques in the business name, and when theyre from commercial clients etc i dont really wanna ask them to write it in my name. 5 years down the line when everyone just does online payments, there wont be any need for a sole trader to have a business account
That's exactly what I think.
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what other benefits do you get with the FSB though , are there any valuable benefits or are you paying £150 per year or £12.50 per month for the gift of FREE banking?
http://www.fsb.org.uk/benefits/
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Nothing for me there. I think i'd rather pay the bank charges.
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looks like the coop has an account that is free for 18 months up to 100 cheques paid in ,30 a month paid out and up to4000 cash then after 18 months its £3 a month and you dont need to be a member of the fsb
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looks like the coop has an account that is free for 18 months up to 100 cheques paid in ,30 a month paid out and up to4000 cash then after 18 months its £3 a month and you dont need to be a member of the fsb
balance needs to be in credit of at least £1000 all of the time to qualify for this the way ive read it
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Let's get this clear - if I have all my cheques payable to me, and pay them into a personal account, AND get BACs type money transfers into that account as well, then the bank I do that with won't get shirty and demand that I open a business account with them?
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The co op business banking looks a good deal at only £3pm and first 18 months free banking.
Are they likely to hike rates up though?
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i pay into a Halifax personall acc and use the special envelopes to pay in with that state you can put in unlimited amount of cheques -iv had no problem that way and this avoids any nosy counter staff
the only glitch i had was one day my mad missus decided to ask at the counter about opening a business account(she must have lost her mind ) that then caused a flurry of phonecalls from a business specialist trying to get me onboard . turns out Halifax dont do business accounts,they refer you to a LLoyds bank business specialist-she promised me free banking for 18 months ,longer if i was a good sort . i pretended id be doing it "once iv started my business up" to get rid of her , but then let it drift and have carried on paying in using the special Halifax envelopes
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A happy ending (at least for now)? http://www.cleanitup.co.uk/smf/index.php?topic=158274
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I got a letter from Santander yesterday they're backing down on this one and will try and sell you the 'better' account for £7.50 a month. So for existing customers it's still free.