Santander to charge for money removal???

CSI:Jude

I was at a function yesterday where several people who work for banks (not santander) were telling me they have been told Santander are going to charge for removing money from cash machines soon!! Is there any truth in this? I was told by two different people who dont know each other, one at the function and one at the pub later on. I will not hesitate to move banks if this happens.

Just wondered if anyone knew anything?

Jude x

Baldur

They'll find it difficult charging for a service that many people appear to be unable to use, judging by this thread - http://forums.moneysavingexpert.com/showthread.html?t=2259071

dzug1

Maybe (and it's only a guess) they will start charging people from other banks who use their cash machines? That sounds more likely than a blanket charge.

jonesMUFCforever

Which will mean that other banks retaliate - interesting to see how their zero account will work then!

[Deleted User]

jonesMUFCforever wrote: »

Which will mean that other banks retaliate - interesting to see how their zero account will work then!

Not really - have you noticed the careful wording in their adverts on TV?

"No charges for _________, and no charges FROM US on withdrawing cash abroad".

I.E. "Other banks might charge you when using their machines... and we might charge people who aren't our customers"...

Swans1912

I would be shocked.... I understand the requirement to generate new streams of revenue but surely everyone would 'ditch and switch'. I'm a mortgage customer of Santander but closed the current account when First Direct offered £100 to switch and far better customer service.

I do have a Zero Credit Card but purely for over seas spending (its in the safe right now). I've had a consistently poor experience with this company and would only take out a product if i benefit from it.

shellylovesshopping

Definately no plans to start charging for using cash machines. Only charges that could occur if cash machine providers charge ie standalone machines in garages etc but charges are notified on screen before you accept the transaction.

They want people to use cash machines rather than queing for a transaction in branch when can be done at ATM so thing any future charges would be highly unlikely tbh.

scott_lithgows

Abbey did this in the mid 90,s if you used another bank or building society,s machine.My ex N+P building society account was soon closed.I believe it was the amount of account closures which reversed their decision.

td_007

Banks charging for ATM use if one uses cards from another bank is in fact quite common in many countries. So Santander could decide to charge if one uses a non-Santander card....after all with limits beings placed on fees, banks have to look for new avenues for income.

ajharris

scott_lithgows wrote: »

Abbey did this in the mid 90,s if you used another bank or building society,s machine.My ex N+P building society account was soon closed.I believe it was the amount of account closures which reversed their decision.

I remember the Abbey doing that in the mid nineties, I was off like a shot. Charging for using another banks machines is sure to alienate customers. They would never get away with it especially with their poor service. All things considered I think the charge will not happen.

ajharris

What a fantastic policy you have Mr Lithgows

Closing accounts anytime Abbey go near them.

RIP
National & Provincial Building Society
Bradford & Bingley Building Society