Santander Zero Account Details + A Few More (Good) Bits!

rb10

opinions4u wrote: »

I moved all my branches away from being appointment focused and aimed, wherever possible, to service customer enquiries there and then. I halved diary availability (to ensure those customers who wanted an appointment could have one) and freed up advisers to see customers immediately.

The end result is that more customers got seen, more products got sold and my staff earned more money.

And far fewer peed off customers were given an opportunity not to turn up for an appointment they didn't really want a week later.

It was a simple and successful strategy in every branch I worked in.

I didn't need my staff to ring up any customers from telephone lists. I didn't need to nag cashiers to push for leads. I just had to focus attention on getting those customers that wanted to be seen in with an adviser quickly.

Customers liked it. Staff liked it. Not sure senior management ever understood why the branch with fewest appointments was always in the top 30% for sales!

And why are you not a branch manager any more? We need more people like you in charge of our branches, that sort of attitude is the sort that I think we need more of.

Why should cashiers be pushed to book appointments in if the customer does not have any particular needs? Yet some managers will still insist that quantity comes before quality.

ajharris

IrishGypsy wrote: »

Hey all,

Today - as an Abbey/Santander employee - I noticed more concise details on our system as to how the new Zero Current account will work when it launches on the 11th January (the day Abbey officially becomes Santander).

Available to existing Abbey Mortgage holders only (B&B mortgages won't be eligible as Santander only bought the savings arm of B&B), the account offers - genuinely - good benefits that, if you stay within the T's and C's, won't cost you a penny to take advantage of! :T So I thought I'd share with you all what's in store for those who bank and/or have their mortgage with Santander/A&L.

(Please note: I'm pulling this from memory and I have a crap cold just now, so bear with me if I don't get everything 100%)!

The Benefits and Conditions:

Benefits:
- Currently 6% Credit interest for 12-months (then 1% after that) on positive balances from £1 up to a maximum of £2,500.

- Fee-free withdrawals from ATM's worldwide and fee-free chip and pin transactions. A point of note here, is that some ATM's may charge you themselves, however, Santander will not charge you (I.e. if you spot a charge on your statement, blame the ATM provider)! And if you withdraw cash from a Spanish Santander ATM, you definitely won't be charged!

- And probably a big one (due to the previous ruling), there are no fees/bank charges for going into any unauthorised/Instant overdrafts. Instead, if a payment request is cleared/paid by Santander you'll just be charged 12.9% APR a (which is also the same rate as the Authorised Overdraft for this account).

- Counter Cheques or Bankers drafts from your current account from over the counter (subject to a 'Fair Usage Policy' that hasn't yet been detailed). Counter issued cheques and BD's must exceed £1,000.

- If you already have an existing Abbey/Santander current account (I.e. Preferred in Credit, Preferred Overdraft or Reward), then it's a simple matter of popping into a branch, speaking to an advisor and let us run over the T's and C's before we give you the documents (and so we can answer any questions you may have).

Note to EXISTING Santander current account holders: ALL numbers (account, card, PIN, e-banking, overdraft amount etc) will ALL stay the same! Nothing will be changed! So DON'T panic about that.

- Most important one: It's FREE to upgrade if you meet (and stick to) the criteria!

- Also of note: Certain services such as CHAPS, duplicate statement requests, copies of cheques etc, still have their current fees. I don't have the full list to hand, but tbh, it actually wasn't that big.

The Conditions:

In a nutshell, the benefits stay active as long as you continue to satisfy the following requirements. If any of them change, the system will convert the account back to the account type that it was before it was upgraded. The system will apparently do automatic checks every month on Zero Accounts to ensure the criteria is still being met. To be fair, the following conditions is how the majority of our eligible bank account + mortgage customers handle their accounts anyway (from those who I've spoken to about this already), so they won't need to do anything different.

- The Zero account MUST be your Primary bank account. I.e. You need to credit a minimum of £1,000 into the account every month and have a minimum of 2 active DD's and/or S/O's on the account. If the credits in drop blow £1,000 for any particular month you will no longer be eligible.

- You MUST have an existing Abbey/Santander mortgage before the account can be set-up/upgraded into a Zero Current Account. If you have a Santander bank account already, it cannot be upgraded until the mortgage has completed! If you wanted to switch both your bank account and your mortgage to Santander then we'd have to open up a regular bank account until the mortgage was completed, then we could upgrade it to the Zero Account.

- Speaking of which, if your main bank account isn't with Santander already then it must be 'switched' using our own switcher team (I.e. for bringing your mandates across to Santander). If you try and bring your mandates across yourself, you won't be eligible for the benefits. Also, if your salary/income is already being paid into an Abbey account but your mandates aren't coming out from it, then you must also use the switcher service to bring them across before you can be eligible for the benefits.

- Your mortgage with Abbey/Santander must not currently be in arrears (or I believe within the last 12 months either, but I can't confirm that with 100% certainty just now). If it goes into arrears, you no longer become eligible for the benefits.

- If you move your mortgage away from Abbey/Santander to anyone else, you will no longer be eligible for the benefits (seeing as you no longer have a mortgage with Santander).

Basically: If you keep/start getting your income paid in to a Santander current account (£1,000 minimum every month), have your bills also coming out of it (a minimum of 2), keep your mortgage with Abbey/Santander/A&L and keep the mortgage payments up to date, you'll get the benefits above at no extra cost! :j

If you can't, the account either isn't for you or your account reverts back to what it was before you upgraded it. You can book appointments in the branch and I think you can also upgrade your existing Santander account (if applicable) over the phone.

Beginning from the 11th January, Santander will offer the following benefit free of charge to all existing adult Current Account holders (I'm not sure if Basic Accounts or Instant Plus accounts are included in that tbh, would need to check again on Monday) as long as you credit a minimum of £1,000 into the current account each month:

- FEE-FREE cash withdrawals from any Santander ATM in Spain! Transfers from Santander UK to Santander Spain still incur the usual £25 fee, but it'd be nice to see that also become free in the future (we can only hope!). Great for those who have homes out there or travel there on holiday.

- Got a Santander Current Account (Preferred In Credit, Preferred Overdraft, Reward or Zero) or an Abbey/Santander/A&L mortgage? Then also from the 11th January, if you apply - and are accepted - for a Santander credit card (I believe both the Zero and the Organic variations are applicable) you won't have to pay any balance transfer fees! (Usually 3%) :j This offer will only be available for those who meet the requirements mentioned above.

I have to be honest, from a personal perspective it's actually good to see loyal customers being rewarded for their continued custom (hence the focus on Current Account and Mortgage holders). You don't see it happening in too many industries at the minute, so it's rather refreshing to see Santander step-up to the plate and give people a reason to stay. :beer:

If anyone has any questions, I'll do my best to answer them, but I'm not back in again until Monday, so some answers may have to wait until then.

Otherwise, Happy New Year!

The first thing I want to ask you is how much did they pay you to write this artcle?. Abbey/Santander get a slated on this site, the general feeling seems to be one of total dissatisfaction. As of January 11 were the branch staff told to stop taking afternoon siestas too?

The account you were extolling sounds good in principle but my experience with the Abbey/Santander has been far from rosey. You said that you will do your best to answer any questions, does the word ZERO refer to the quality of the in branch service as well as ZERO charges on the new all singing all dancing curent account?

What happened to the supposed implementation of faster payments on January 11?. Are you the Nationwide in disguise?

ImBlonde

rb10 wrote: »

And why are you not a branch manager any more? We need more people like you in charge of our branches, that sort of attitude is the sort that I think we need more of.

Agreed :T

rb10 wrote: »

Why should cashiers be pushed to book appointments in if the customer does not have any particular needs? Yet some managers will still insist that quantity comes before quality.

Yes, they want quality business but are not willing to put in the patience. Unfortunately, we don't get a lot of time with customers at the counter to discuss their needs, but we are also targeted on what others get out of the appointment. We are mostly monitored on mortgage and investment appointments. However, we are expected to book in customers who we get to speak to for bank accounts and credit cards etc - not necessarily the appointment, but getting the product referral and then the product sale (most of the time them having to make an appointment - double edged sword). I don't know why we are pushed, but it's not the BMs setting the metrics, they just have to enforce them and ensure they're met.

ImBlonde

ajharris wrote: »

What happened to the supposed implementation of faster payments on January 11?. Are you the Nationwide in disguise?

This is the first I've heard about any faster payment service being implemented within the company. Ill be sure to ask as I haven't been told anything and you've activated my curiosity sensor *beep beep beep*. I will let you know if nobody else does before I get a chance to post answer.

I know a lot of banks already offer the service as we receive these payments regularly. Hmmm.. *goes to research mode*

opinions4u

rb10 wrote: »

And why are you not a branch manager any more? We need more people like you in charge of our branches, that sort of attitude is the sort that I think we need more of.

Thank you.

A job I had always loved simply stopped giving me that "buzz". I'm not sure I can pinpoint it precisely, but one thing that did pee me off was excessive regulation over the sales side and a focus on automated sales prompts that completely removed the warmth out of a conversation with a customer.

It was also easier than I thought to find more money in a job elsewhere, firstly internally.

Why should cashiers be pushed to book appointments in if the customer does not have any particular needs?

Further clogging up the diaries with appointments that then don't turn up - impacting on other customers who want to be seen there and then.

It's ironic that the pleasant chat at the counter can unearth so many other financial needs. But it doesn't happen because something orange appears on the screen saying "flog 'em a credit card"!

Yet some managers will still insist that quantity comes before quality.

I was driven by quantity. I always believed that the customer demand in the branch already had the potential to deliver that quantity, but branches didn't fulfil that demand because they spent so much time trying to generate business in other ways when the potential sales were already walking through the door asking to sit down with a seller!

ajharris

ImBlonde wrote: »

This is the first I've heard about any faster payment service being implemented within the company. Ill be sure to ask as I haven't been told anything and you've activated my curiosity sensor *beep beep beep*. I will let you know if nobody else does before I get a chance to post answer.

I know a lot of banks already offer the service as we receive these payments regularly. Hmmm.. *goes to research mode*

Funny that, a member of staff in my local branch told me faster payments were being implemented on January 11. Then for some technical reason it has been delayed. As for the member of staff who told me this, is he a liar or is there a serious communication problem within the group?

ImBlonde

Unfortunately can't give you an answer to that my sweet! Will definitely try and find out something though. What's happening with it and if it was even going to be implemented at all. Wish I knew so I could help!

PC_Gabriel_Kent

How many PBA's are on an IP for not selling enough of these type of accounts? How many PBA's have done the Zero Upgrade without telling the customer? Some guy in the Lakes had done 55 upgrades between the 11th Jan and 26th Jan. You seriously believe all 55 of those customers came into the branch???

ImBlonde

With regards to the faster payments being implemented to Santander I've asked my colleagues and none have heard of any changes. I am under the impression though that you can specify what type of payment you can do if you have internet banking? (Whether it's standard or faster receipts?)

ferf1223

thank you for posting all the details - it was much more informative than the info I could find on Abbey's website. We switched yesterday - very easy, took a bit of time to go through everything by phone but the call centre guy was great (even noticed that we could do a lot better on our savings account with them and swapped that over for me too - sure, maybe he gets something for the switch, but I wasn't aware how much better I could do and appreciated him pointing it out for me).

This seems like a total no-brainer to me for anyone with an Abbey current account as their main account and an Abbey mortgage. Especially if you take regular overseas holidays. It means we won't have to keep shifting holiday money into our Nationwide account, so saves us a bit of time.

We've never had any negative experiences with Abbey other than hideous queues at one branch location (which we avoid and go to another the same distance away but in the other direction )

Sorry, it will take me aaages to start calling them Santander.