Santander E-saver account reduced to 0.1 %

projectzero

Couple of points - I made a mistake initially by saying no interest and then 0.1%. I admit I was naive in a number of aspects. I'm not obsessed with money so until now haven't used these sorts of sites,I wrongly assumed my money was making more than 0.1%. For personal reasons over the last two years my attention was else where. I realise now that I should have been more aware but I can't "should of" now. It seems that some people here are taking delight in my experience; I'm not sure why. For the record I do vote and have a reasonable grasp of reality,I don't live in a total bubble. I'll need to check into the link kindly posted on a previous comment on this thread and decide where and how to go forward. I'm still waiting for the statements from Santander. I'll reply to specific comments on here when I have time. Thanks again -

opinions4u

It seems that some people here are taking delight in my experience

Please can you give examples of this. I've just skimmed the thread and can't see it. If it relates to anything I've posted I will willingly explain it again more clearly together with an explanation as to why I haven't taken "delight" in the position you find yourself in.

Andystriker

Dr_Cuckoo3 wrote: »

- I am trigger happy with the FOS and they all go the the adjudicator

Freephone and Freepost - no cost to me :rotfl:

How much success have you had with going to the FOS?

How successful do you think the OP will be if he takes his case to them?

Andystriker

projectzero wrote: »

It seems that some people here are taking delight in my experience;

You have had good advice on this thread. The posters wasting your time are the ones who advise you going to the FOS.

No one on this thread is "taking delight in your experience".
If you think this then you are not after advice, but sympathy, and you are posting on the wrong forum.

Tuscan_Driver

Fat_Freddies_Cat wrote: »

Message to YorkshireBoy & opinions4u.

It is neither helpful nor constructive to respond with smug responses such as "You didn't read, or understand, the account T&Cs" and "It's your money. It's your job to look after it.".

Whilst these comments are technically true, it has become almost a full time job to monitor the changing accounts, rules and T&Cs with which banks bombard us. Most of us avoid the traps laid by banks, by spending a lot of time and energy in monitoring their activities, usually because we have been stung at some time....

FFC

I fell into the same trap with the eSavers and I started on an Issue1 (0.10%) now after being paid some fairly decent interest.

Santander are not at liberty to disclose any change of rates because eSavers are variable and you the customer are responsible for your own account.
I opened recently an Issue2 was (2.50%) and was not informed over the customer services phone bank booth, that there was any impending newer Issues out there, but shortly after signing up online for the Issue2, Santander brought out Big Brother Issue3 (3.00%)!!

There are no Issues4/5 for Abbey/Santander as these were eSavers originally called Issue1/2 for Alliance & Leicester however, because A & L merged with Santander these Issue savers had to be changed to Issues4/5 so as to avoid confusion with the Santander eSavers.

The simple answer is to open a new I3 eSaver and swap your funds over from old to new because banks are not in the business to encourage us veterans to make too much, they purely want to create new products and investors onto the markets.

They suspect if your not entirely happy, then your going to withdraw your funds as they are always going to draw attention to new investors that's why they are in the business!

HooCanTellMee

Just read this thread, Opinions4U has an abrupt manner, but is clear and concise. I had E Savers with A & L now Santander, they did have a bonus rate, for twelve months, then reverted to about 0.5% I wasn't very happy with the rate, but it is still my money I am losing interest on, my responsibility. If I want to make more, I have to DIY, or pay a financial advisor! T & C have to be read, that is why they are there, and most banks tell you to read them!

fedupnow

Fat_Freddies_Cat wrote: »

Message to YorkshireBoy & opinions4u.

It is neither helpful nor constructive to respond with smug responses such as "You didn't read, or understand, the account T&Cs" and "It's your money. It's your job to look after it.".

Whilst these comments are technically true, it has become almost a full time job to monitor the changing accounts, rules and T&Cs with which banks bombard us. Most of us avoid the traps laid by banks, by spending a lot of time and energy in monitoring their activities, usually because we have been stung at some time. Projectzero will obviously have learnt from this experience, but understandably feels aggrieved and so is asking for help/advice/sympathy and it serves no useful purpose to respond in such a way.

I am reasonably capable of managing my money but the smokescreens put up by some of these organisations make it very difficult. The "Santander eSaver" account mentioned by projectzero is a classic example.
Currently Santander are grabbing headlines with the eSaver (issue 3) which offers 3.00%. I have an aSaver which I opened 3 months ago (that's 3 months opinions4u) and I tried to check the current interest rate earlier this week. Firstly I couldn't find any details on the online banking or electronic statements about which issue I had. I finally tracked the email from when I opened the account and found it was and "issue 2". I then went onto the website to track the interest rate and couldn't find an "eSaver Issue 2" so I downloaded the pdf with interest rates for accounts no longer available (which I am supposed to know about). This document explains that many accounts have been renamed and the "eSaver Issue 2" is now the "eSaver Issue 5" (which is older than the Issue 3 but not as old as the Issue 4). Having found this information I was still unable to determine the exact rate of interest on my account so searched on the the site to be told to ring or visit my local branch. Having already wasted many hours of my life trying to get an answer or some sense from the Santander call centre I decided to go to the local branch. I couldn't talk to an advisor because they were too busy and I hadn't previously made an appointment. After queuing to talk to somebody at the desk for over 10 minutes I decided not to bother when I heard the teller advising somebody to "cash in your ISAs and put your money into your current account until the new tax year when you can pay it into our Flexible ISA".

I have had many run-ins with Santander since they acquired the Alliance & Leicester and despite all their excuses, they have not improved service or their attitude to their customers. They only maintain their customer base with short term tricks to buy market share with headline rates which disappear after 12 months. I have arranged to transfer my current account, ISA, savings account and credit card from Santander.

Do YorkshireBoy or opinions4u have products from Santander? If you do, then you have been lucky if you have not experienced any problems (just look at the customer feedback stats on this site) and if not then I suggest you should be a little more charitable to those not as savvy as yourselves.

Projectzero : As I said earlier, the replies are technically correct, so I don't think you can do very much about the treatment you received. Morally speaking, you have, like many of us, been shafted by an organisation which we have all been brought up to believe we can trust.
I hope the lesson you have learnt has not cost you too much.

FFC

I too have had problems with finding out my interest rates with Santander. I have about three accounts 'no longer available' which they won't let me close online, and I don't know which one is best to put my savings into.

There used to be a facility where I could put the last three digits into the system and it would inform me of the interest rate. I emailed them to ask and the response was - that facility is no longer available but would I like to buy this, that and the other ... nothing about interest rates for my accounts.

I'm going into my branch later today to see what they can do for me. I may consider moving the whole lot elsewhere - but the hassle ... all those DDs and my salary etc. Not sure I can be bothered, which of course is what they rely on.

I want to swear.

gocat

Fat_Freddies_Cat wrote: »

Message to YorkshireBoy & opinions4u.


I am reasonably capable of managing my money but the smokescreens put up by some of these organisations make it very difficult. The "Santander eSaver" account mentioned by projectzero is a classic example.
Currently Santander are grabbing headlines with the eSaver (issue 3) which offers 3.00%. I have an aSaver which I opened 3 months ago (that's 3 months opinions4u) and I tried to check the current interest rate earlier this week. Firstly I couldn't find any details on the online banking or electronic statements about which issue I had. I finally tracked the email from when I opened the account and found it was and "issue 2". I then went onto the website to track the interest rate and couldn't find an "eSaver Issue 2" so I downloaded the pdf with interest rates for accounts no longer available (which I am supposed to know about). This document explains that many accounts have been renamed and the "eSaver Issue 2" is now the "eSaver Issue 5" (which is older than the Issue 3 but not as old as the Issue 4). Having found this information I was still unable to determine the exact rate of interest on my account so searched on the the site to be told to ring or visit my local branch. Having already wasted many hours of my life trying to get an answer or some sense from the Santander call centre I decided to go to the local branch. I couldn't talk to an advisor because they were too busy and I hadn't previously made an appointment.
FFC

Just wondering if you found the answer to what is the interest rate for esaver (2)
TIA

Edit: Its ok will just open a esave (3) and transfer the lot over as seen on another thread