Santander Zero question

NickX

chattychappy wrote: »

I switched to Abbey Zero and started using it overseas in April. I find I get pretty much the same spread of rates as I used to with Nationwide before they introduced the non-Europe 0.84% loading.

This ties with my experience. I have noticed negligible difference between Abbey Zero and Nationwide for conversion rates. I've only been in Europe of late, so the 0.84% loading would not apply.

Kashim

I also have both cards Nationwide and Santender Zero.

I was also thinking of avoiding the interest charges for withdrawal with the Santander Zero by taking the money out of the credit card and at the same time deposit the same amount in GBP into the Sander Card via internet banking.

I bank with Lloyds and paid off my Santender Zero cc bill via internet banking while I was talking to cust rep and she confirmed the payment within minutes. So I'll be giving this trick a go and see if it works.

Cheers, Kashim

ses6jwg

Read your T&Cs pre loading is a breach, don't be surprised if they block your card whilst you're away.

chattychappy

ses6jwg wrote: »

Read your T&Cs pre loading is a breach, don't be surprised if they block your card whilst you're away.

Well, you're right. But actually they seem to have a tendency to block your card anyway from time to time!

If you have access to internet banking, I'd always pay once it's appeared on the account to avoid the "pre-loading" issue. The interest is minimal if you pay within a few days. (eg less than 10p a day on £100.)

System

You can preload your card, even with a balance transfer if you like. It is not a direct breach. The Ts and C state you 'should not' not you 'must not'. Also they state the only possible consequence is that Santander might then only allow you to spend up to the agreed limit in one billing period. I have just preloaded mine with 3 times the credit limit in balance. I have had it confirmed by them that now any cash withdrawal on the card in the UK will be free whilst it is in credit and also European transactions.

I am not recommending doing this to everyone by any means - I had my own very good and calculated reasons involving getting hold of some very cheap money for a couple of years.

chattychappy

Thanks, interesting. As a matter of regulation, they shouldn't allow people to run a positive balance because deposit taking is governed by a separate regulatory regime. I don't agree with your interpretation that there is a difference between "should not" and "must not". (In fact I just wrote a shouldn't, meaning a mustn't!!) If the T+Cs say you shouldn't do something that you then do, you leave yourself open to their seeking a remedy or their protecting their position.

But from what you say, it seems for the time being and for transient positive balances, they will do nothing until their compliance department coughs or commercially they decide they need to intervene.

macalloa

Is the Zero Credit card still available ?

The debit card account is, not sure on the credit card though.

When Nationwide binned their ATM fee free Visa debit card I took out a Sainsbury's Gold credit card for the cash withdrawl fee free deal.

Now a small provincial bank, Norwich & Peterborough, are offering two versions of their Gold current account which offers a debit card with no "Hole In The Wall" fees for use abroad.

Toe-Jam

I have a Santander Zero account, both times i went to use it in January their systems were down and it declined all the transactions. Couldn't even log into the online banking.