Santander grrrr! Sole trader problems...

freeisgood

I have been banking with Abbey for 26 yrs, they change to Santander early this year and.....I get a lovely letter canceling my substantial overdraft facility that I have earned and increased over the years(which I have only used for the last 3 months and am out of again) and another lovely letter a week later telling me that if I proceed to use my bank account for business purposes(I am a sole trader) they will close my account in 30 days, now I am very stressed!

I have been self employed for 13 years and Abbey always knew this, in fact the staff at the counter always suggested that I should open a business account, but I told them I like to use my current account for business and personal use. In fact MSE Martin advices just this on this site! So obviously Santander have made their own rules and I am now panicking.

Enough ranting, what I want to know is, would Santander actually care a damn if I shut all my 4 accounts with them, and does anyone know which bank will let me do what I am doing now.

Thanks! good kind advice welcome.

samjef11_2

freeisgood wrote: »

I have been banking with Abbey for 26 yrs, they change to Santander early this year and.....I get a lovely letter canceling my substantial overdraft facility that I have earned and increased over the years(which I have only used for the last 3 months and am out of again) and another lovely letter a week later telling me that if I proceed to use my bank account for business purposes(I am a sole trader) they will close my account in 30 days, now I am very stressed!

I have been self employed for 13 years and Abbey always knew this, in fact the staff at the counter always suggested that I should open a business account, but I told them I like to use my current account for business and personal use. In fact MSE Martin advices just this on this site! So obviously Santander have made their own rules and I am now panicking.

Enough ranting, what I want to know is, would Santander actually care a damn if I shut all my 4 accounts with them, and does anyone know which bank will let me do what I am doing now.

Thanks! good kind advice welcome.

I'm pretty sure the Co-operative Bank will let do just that click here or click here for personal banking page.

chambta

What is the turnover on the account?

That is likely to have flagged up somewhere.

samjef11_2

By the way the co-operative bank let you have turnover of £1m.

freeisgood

samjef11 wrote: »

By the way the co-operative bank let you have turnover of £1m.

My eyes glazed over there, if only!!

No just a normal income going in and (far to many in my opinion) expenses going out. But the point is that Santander are just mean B*****ds.




Ps Thanks for the link for an alternative bank.

samjef11_2

freeisgood wrote: »

double post.

Thanks for the suggestion of co-op.

Ok are you gonna gve then a shot as one thing for sure their customer service is top level.

noh

samjef11 wrote: »

I'm pretty sure the Co-operative Bank will let do just that click here or click here for personal banking page.

From their terms and conditions
http://www.co-operativebank.co.uk/cfscombi/pdf/current_account_terms_and_conditions.pdf


"1.3 You can only use your account as a personal account. You must not use it as a club, charity, sole trader, company, partnership or other kind of business account or for any business purposes"


I don't know of any bank with a personal account that has T+Cs which allow business use.

samjef11_2

noh wrote: »

From their terms and conditions
http://www.co-operativebank.co.uk/cfscombi/pdf/current_account_terms_and_conditions.pdf


"1.3 You can only use your account as a personal account. You must not use it as a club, charity, sole trader, company, partnership or other kind of business account or for any business purposes"


I don't know of any bank with a personal account that has T+Cs which allow business use.

Please go to this link http://www.co-operativebank.co.uk/servlet/Satellite/1193206374665,CFSweb/Page/Business?WT.svl=nav1

samjef11_2

He would have to open a business account then.

noh

samjef11 wrote: »

Please go to this link http://www.co-operativebank.co.uk/servlet/Satellite/1193206374665,CFSweb/Page/Business?WT.svl=nav1

Yes and that is a business account.
The OP wanted a personal account that also allowed him to use it as a sole trader.

samjef11_2

Have a look at the mse thread should be able to give some good info click here also someone said about Nationwide FlexAccount.