MSE News: Santander U-turn saves free business banking

on reading this good news, i phoned the dedicated team that are dealing will this, and they deny this is happening and the fess will still be coming in force.

Iam hoping it is the case they have not been informed yet, if it is, its pretty poor for them to put out a statement to MSE with out informing the people that are dealing with this .

A massive thank you and word of congratulations to those that campaigned tirelessly on this issue, particularly Susievintage, magpiecottage and tinman9898 in this thread! :j

Santander were clearly in the wrong from the very outset on this change, at very least on an ethical basis and very possibly on a legal one too (collateral material forming part of contract, etc, as expertly highlighted by magpiecottage). Good they've done the right thing eventually - though I see they continue with the weasel words:

Santander_PR_robot wrote:

After listening to feedback from our existing customers, a small number of whom do not feel their businesses would benefit from these changes, we will be retaining the fee-free option for existing customers

Small number compared with 80k account holders they'd written to so far perhaps (of which a significant number may have been held by same individual / company, or no longer actively used), but I've not seen a single customer report anything other than disgust at the proposal. This forum is just one of dozens of groups, threads, articles and Twitter discussions outright opposing the change.

And that silly survey they totted out, saying customers wanted "more transparency" and better "business support"! What's the bet that that survey made zero mention that account fees would be necessary in order to make those changes? There's a big difference between "I'd like more support for my business" and "I'm happy to waive the fee-free promise if you ...". They just rang up, asked for a wish list, and used it as ammo.

Finally, a word of warning: Santander make clear they will retain the fees for newer accounts and "welcome" customers to "upgrade" to paid accounts. It'd be very naive to think this is the last we'll hear of fee changes - I'm betting they'll gradually introduce additional stealth charges for free ACs now, such as increased service fees and withdrawing postage paid cheque deposit envelopes. The latter I think I read might even already be on the cards?

Still, good news overall. Well done again all! :T

PS: BBC's coverage: http://www.bbc.co.uk/news/business-19506634

You bet!!!!!

This proves once again, never assume the other guys know what they are doing!!!

magpiecottage wrote: »

I recommend keeping your complaint running unless and until you get it in writing from Santander. And then, whatever you do, hang on to that letter!

Definitely,

AND THEN, start your complaint for compensation regarding all the time and expense of dealing with the fiasco.... searching for, applying for, and opening new bank accounts, for example. It takes quite some time sorting out. I am sure at the end of that next phase the bank will have to cough up about £250 to any involved -- something like that.

As my rugger teacher used to say: "Never hit a man when he is down; kick him, it's safer and easier, and certainly don't wait till he gets up on his feet again in case he whacks you!"

As for Thatcher, "A white flag of Victory"?
No, whatever Thatcher may have smoking in her last few hours, a white flag is nothing else than SURRENDER. And Santander has been defeated publicly, and internationally. And expensively, too, if you just look at their envelopes/postage bill x80,000 accounts (I have had about 5x letters) plus all the call-in centre phone calls (I have had at least 4-5 of them) and promo, website mods etc etc etc. Must have cost them a bomb so far.

That was a real plank idea, that was.

That Spanish Armada has been sent back again with their tails between their legs. "They don't like it up 'em, Mr Mannering" (while we are on quotations).:D