Santander Minimum Withdrawals

flossy_splodge

I've mystery shopped Santander branches a few times including testing this new policy and EVERY ONE of the branches I was sent to FAILED to insist on sticking to the policy.
In fact, they didn't even mention it.
So maybe, don't worry?:rotfl:

hippey

7sefton wrote: »

Nationwide and HSBC have similar restrictions on certain counter transactions, as do almost all providers of basic bank accounts.

Nationwide do have some sort of deposit and withdrawl policy.

I was told the other day that I had to withdraw some cash from my sons account by using the cashpoint (it accepts books) when I tried to do this it refused and ended up waiting in line again and saw the same cashier who had sent me away and told her.

She intially refused and told me that I had to withdraw more, after a couple of minutes she realised it was an under 7's account and said the policy didn't apply and asked me how much I wanted, I just replied 'all of it' and closed the account.

My kids get better interest elsewhere and I can't be bothered with silly rules which no one knows how to apply properly I was thinking about moving all their money over to the other bank, that just made my mind up!

I can understand why they have these rules but the application of them is confusing.

davethorp

What if you've only got £4.99 in your account (thereby denying you the use of any ATM including the barclays student friendly ones that dispense £5 notes)

Are santander going to deny you access to your own money?

glider3560

davethorp wrote: »

What if you've only got £4.99 in your account (thereby denying you the use of any ATM including the barclays student friendly ones that dispense £5 notes)

Are santander going to deny you access to your own money?

Yes, they can. If you plan on having less than £30 in your account, you should consider moving banks to one who provides the service you require.

davethorp

glider3560 wrote: »

Yes, they can. If you plan on having less than £30 in your account, you should consider moving banks to one who provides the service you require.

If I banked with santander, denying me access to my own money regardless of what my balance was would be met with a prompt "ok I'd like to close my account, now give me my money"

Good way to lose customers stopping people accessing their own money. Not to mention it could be called theft

glider3560

davethorp wrote: »

If I banked with santander, denying me access to my own money regardless of what my balance was would be met with a prompt "ok I'd like to close my account, now give me my money"

Good way to lose customers stopping people accessing their own money. Not to mention it could be called theft

It isn't theft as it is in their terms and conditions, which the account holder would ahve agreed to when opening the account.

Perhaps they don't want customers who have less than £30 in their account and who take up branch staff to make small transactions? Perhaps they don't make any money out of these customers?

davethorp

glider3560 wrote: »

It isn't theft as it is in their terms and conditions, which the account holder would ahve agreed to when opening the account.

If it was in the terms and conditions that they could murder the account holder's children would that mean it wouldn't be murder when they go and do it as the account holder agreed to the terms

Terms and conditions cannot and do not change english law (no matter how much some organisations would like them to)

noh

davethorp wrote: »

If it was in the terms and conditions that they could murder the account holder's children would that mean it wouldn't be murder when they go and do it as the account holder agreed to the terms

Terms and conditions cannot and do not change english law (no matter how much some organisations would like them to)

Of course they don't.

Can you you tell me how this particular condition, of restricting counter withdrawals of cash to those greater than £30, is contrary to any existing legislation?

As already stated you have the option of closing your account and moving elsewhere. Which is probably the outcome Santander desire.

7sefton

opinions4u wrote: »

If it really ticks you off, don't use a Santander ATM.

Go and use the ATM of another provider as this costs Santander money. Make them pay for their decision not to serve you.

In fact, if you want £30 then spend a little time withdrawing £10 in 3 different transactions. This will then cost them 3 times as much.

According to the propaganda given to Lloyds Banking Group staff, a withdrawal from a competitor's machine costs 31p! Quite steep, I thought!

tsb

Just to add to this debate. Santander have also restricted the amount of a counter cheque to a minimum of £1,000! A friend of mine had to make a payment of £800 to a tradesman. The counter staff told them that it is no longer possible from their savings account. Either you transfer the amount to a current account (which has to be done at the counter unless you have a current account with Santander and online banking) and make the cheque out yourself or withdraw the amount in cash at the counter. My friend had to draw out the cash and walk around with the £800.

My point is how does this new 'term and condition' save counter queues.

I have a Santander savings account and when I opened it this wasn't in the terms and conditions. I am seriously thinking of closing the account to go elsewhere. I'm thinking the only place to have a savings account is a proper Building Society that don't pretend to be a bank and there are no restrictions on what is available at the counter.