Santander advertising 6% account that doesn't exist!

NickAJ

Yesterday in the MoneyMail section of the Daily Mail Santander had an advert for a regular savings account paying 6% if you paid in up to £250 per month.

We couldn't find this on their web site so my wife rang today and was told "Oh sorry, it must be a misprint". They then proceeded to try and get her to sign up for their credit card.

Is this something that should be reported to the ASA? We could all advertise wonderful offers only to claim they were misprints and then use them to sell other products!

97trophy

no surprise with that bank.

zppp

NickAJ wrote: »

Yesterday in the MoneyMail section of the Daily Mail Santander had an advert for a regular savings account paying 6% if you paid in up to £250 per month.

We couldn't find this on their web site so my wife rang today and was told "Oh sorry, it must be a misprint". They then proceeded to try and get her to sign up for their credit card.

Is this something that should be reported to the ASA? We could all advertise wonderful offers only to claim they were misprints and then use them to sell other products!

Well they do seem to have an account called the 'Super Flexible ISA' that pays 5.5%. There may well have been a misprint, errors hapen you know - if that's what they said to you, then you would have to prove otherwise.

Andystriker

zppp wrote: »

Well they do seem to have an account called the 'Super Flexible ISA' that pays 5.5%. There may well have been a misprint, errors hapen you know - if that's what they said to you, then you would have to prove otherwise.

If Santander had an advert in the paper yesterday advertising 6% and Santander say it was a misprint then surely it is Santander who would have to prove it.

zppp

Andystriker wrote: »

If Santander had an advert in the paper yesterday advertising 6% and Santander say it was a misprint then surely it is Santander who would have to prove it.

But all they have to say is 'it was a misprint'. Even if it wasn't a misprint, I think you will find that any company has the right to withdraw a product, even when advertised - normally based on the ts and cs.

Adverts are an invitation to treat not a contract. All one can do is complain to trading standards, who will only take it forward if there is evidece that it is being done deliberately.

quietishone

The advert was for their Super fixed Rate regular Saver which is on their web site and does pay 6%. the snag is that it is one of their 'Reward Accounts' which means that you can only open one if you first take another of their products - in this case open one of their current accounts and switch direct debits to it. Two percent extra interest for a single year on a maximum of £250 a month is a little over £30 before tax. There are bigger incentives for switching from other providers.

The link to the info on their website is here-

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&canal=CABBEYCOM&cid=1210610613613&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateT2

NickAJ

quietishone wrote: »

The advert was for their Super fixed Rate regular Saver which is on their web site and does pay 6%. the snag is that it is one of their 'Reward Accounts' which means that you can only open one if you first take another of their products - in this case open one of their current accounts and switch direct debits to it. Two percent extra interest for a single year on a maximum of £250 a month is a little over £30 before tax. There are bigger incentives for switching from other providers.

The link to the info on their website is here-

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&canal=CABBEYCOM&cid=1210610613613&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateT2

That page wasn't there earlier, and the advisor knew nothing about it. I guess the marketing department are ahead of the web team.

Bloomberg

NickAJ wrote: »

Yesterday in the MoneyMail section of the Daily Mail Santander had an advert for a regular savings account paying 6% if you paid in up to £250 per month.

We couldn't find this on their web site so my wife rang today and was told "Oh sorry, it must be a misprint". They then proceeded to try and get her to sign up for their credit card.

Is this something that should be reported to the ASA? We could all advertise wonderful offers only to claim they were misprints and then use them to sell other products!

What an interesting thread, nothing surprises me with the Santander. What a bunch of clowns. Annoying as your experience may be it should not really surprise anyone who reads this forum on a regular basis. It is now official - Santander are the worst of the worst!

pmduk

If the advert didn't make it clear that you had you take out another account, then I would report it to the Advertising Standards Authority. Having said that, I personally would just breathe a sigh of relief at my narrow escape from banking with that bunch of clowns.

PC_Gabriel_Kent

They have been running the Super FRMS for months

markums

I asked in branch about the SFRMS at 6% and i was allowed to open it in conjuction with a current account without switching from any other account, direct debits etc. I use the current account (5% on balances of up to £2500) as another lloyds account with vantage, you just have to rotate £1000 every month. So hopefully (less a few days £1000 switching loss) i will get a fairly good return on a small bit of money after a year.