A&L account - what happens when santander take over...please read...

loveangel88

i have an a&l account and by end of this year i understand a&l will be no more, it will be called Santander...

However im worried what happens to my bank account...Having had a look on the santander website, i would only qualify for their basic cash account based on my cirumstances (if i were to open a new account with them today) but at the moment I have a alliance and leicester current account with visa debit card, chequebook and no overdraft facility....

my question is, will my account be downgraded to the basic cash account when the switchover to santander happens? As im not keen on having a cashline card

Also what happens to my direct debits, do i need to inform them of the change, will account details stay the same?

I have been searching on net but cant seem to find any answers so hoping you MSE'rs can help

scottishblondie

I would expect that all details will stay the same, and your account will not change at all. A&L are already owned by Santander and have been for quite some time, so I'm not expecting any changes to my account when they put up new signs

eslick

and the customer service will be just as bad as before

Mrs_Ryan

I'm in the same situation - I have a Co-Op account as back up with Visa Debit but I would be unhappy if I were to lose my cheque book. Think I will ask next time Im in the bank.

pbd79

I currently bank with A&L but am expecting a few changes....

All accounts will be transferred on to Santander's computer systems by the end of year. Will they continue to offer numerous accounts (old A&L accounts by that stage) to their existing customer base or move everyone over to their current offering, the Santander Bank Account?

I hope I'm wrong but I reckon they will go for standardisation all the way....everyone on the same account, charges and interest rates. In fairness you can see the logic in this.

The next thing is overdrafts. Do we think Santander will keep to A&L simple charging structure, capped at £5 per month or go for making more money by charging their current annual rates of 12.9% and 19.9% respectively?

I think we all know the answer to that.

Again I hope I'm wrong but only time will tell.

pbd79

loveangel88 wrote: »

i have an a&l account and by end of this year i understand a&l will be no more, it will be called Santander...

However im worried what happens to my bank account...Having had a look on the santander website, i would only qualify for their basic cash account based on my cirumstances (if i were to open a new account with them today) but at the moment I have a alliance and leicester current account with visa debit card, chequebook and no overdraft facility....

my question is, will my account be downgraded to the basic cash account when the switchover to santander happens? As im not keen on having a cashline card

Also what happens to my direct debits, do i need to inform them of the change, will account details stay the same?

I have been searching on net but cant seem to find any answers so hoping you MSE'rs can help

Sorry loveangel, forgot to say, I read somewhere about all direct debits and changes of account details being sorted out by Santander. So when they transfer everyone over onto their systems, they will let all your direct debits/companies know etc. They reckon the change over will have minimal impact on customers and their day to day banking requirements.

As for being downgraded, I can't see why you would be moved over to their basic cash account for no reason. They still provide the Bank Account for people who pay in under £1000 per month, its just you don't get the credit interest rate or lower overdraft rate.

dzug1

The point that is exercising me is the A&L tie up with the Post Office.

Will that go altogether
Be extended to all Santander customers
Or status quo - applied to existing A&L customers only

I've asked in two branches (ex Abbey/BB) - they haven't a clue.

I wonder if Santander themselves have though it through that closely yet?

carpfigit

I have just had my overdraft withdrawn after being with Abbey for 20 years, leaving me in the doggie. They have given me no option, i have written to them to close the account and offered to pay it off monthly and diverted my wages else where, anyone know what action they can take?

cifpower

They could send it to collections who will call and write who may pass it onto a debt collection agency and a default may be registered against you which will ruin your credit file for 6 years.