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MSE News: Santander still by far the worst bank for customer service
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The most annoying thing about their site is that every time I log on I'm urged to download their security software and can't proceed until I have closed that window. I HAVE ALREADY DOWNLOADED THE SOFTWARE. I asked the call centre staff about this and no, there isn't any way to turn the stupid thing off.
lol these are bank call centre staff, not tech support. I didn't even know that this "security software" existed until I logged on from a different computer, as I block all popups like that in my browser.
The hostname to block appears to be trusteer.s3.amazonaws.com, I think you should be able to do it in a HOSTS file or using privoxy.One of my colleagues didn't even understand what an interest rate is, or how it works!!
Yup, a friend tried to open a 2-year bond at 4%, and some idiot tried to convince her a that a 3% ISA was better because she would only get 4% after 2 years! ok, this is more a case of not knowing that rates are given yearly but should still be basic knowledge for any bank staff. Anyway she already put the max into the ISA.. which was showing on the computer screen0 -
lol these are bank call centre staff, not tech support. I didn't even know that this "security software" existed until I logged on from a different computer, as I block all popups like that in my browser.
The hostname to block appears to be trusteer.s3.amazonaws.com, I think you should be able to do it in a HOSTS file or using privoxy.
Yup, a friend tried to open a 2-year bond at 4%, and some idiot tried to convince her a that a 3% ISA was better because she would only get 4% after 2 years! ok, this is more a case of not knowing that rates are given yearly but should still be basic knowledge for any bank staff. Anyway she already put the max into the ISA.. which was showing on the computer screen
An ISA would be better, because it's tax free. The amount of tax you are deducted for both years of the bond would leave you with around the same amount if not less than the ISA with its 1% less rate.
I've not done the maths, but it'll be much closer than you think.:)0 -
I don't know why this thread is described as news? It'll come as news to absolutely nobody0
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Read my signature.
In Feb, Santander sent me a new debit card of a bank account I closed with the Alliance and Leicester in May 2010. Then they cancelled my debit card of my current account. I did go to them and ask what was going on and they said they will issue me with a new card. I had to chase them up every day to see if it was ordered. I had no card for 6 weeks and no apologies. I don't have the time to change bank accounts so if they mess me up one more time, I am deffo going elsewhere. I will then make time.0 -
In my experience, in the branch I work in which is very small, the older members of staff who are ex Abbey and A&L rely on myself and another twenty-something member of staff who started 18 months ago - as they cannot get to grips with the new computer system and we are only ones who know how to complete complex transactions on the "system"
I became everyone's 'go-to' after about 6 months. But I had no support or training to be able to deal with half the problems that came back, and I was L400 just waiting for a CM position to come up. I just had to work through trying things out to see what I could find. Nightmare.notsurewhat2doo wrote: »An ISA would be better, because it's tax free. The amount of tax you are deducted for both years of the bond would leave you with around the same amount if not less than the ISA with its 1% less rate.
I've not done the maths, but it'll be much closer than you think.:)
I was thinking the same, however the balance in question could make a difference too depending on the exact products involved...Never argue with stupid people, they will drag you down to their level and then beat you with experience.- Mark TwainArguing with idiots is like playing chess with a pigeon: no matter how good you are at chess, its just going to knock over the pieces and strut around like its victorious.0 -
notsurewhat2doo wrote: »An ISA would be better, because it's tax free. The amount of tax you are deducted for both years of the bond would leave you with around the same amount if not less than the ISA with its 1% less rate.
I've not done the maths, but it'll be much closer than you think.:)
Assuming rates remain unchanged and interest is added annually:
£1,000 in an ISA at 3% would be worth £1,060.90.
£1,000 in a term deposit at 4% gross, 3.2% net would be worth £1,065.02.
A higher rate taxpayer wouldn't be better off with a 4% rate though.
A reason for a basic rate taxpayer taking the ISA would be to retain tax free status in future years and also to take advatnage of the potential of rising interest rates - not an option with the 4% term deposit.I was thinking the same, however the balance in question could make a difference too depending on the exact products involved...0 -
opinions4u wrote: »A reason for a basic rate taxpayer taking the ISA would be to retain tax free status in future years and also to take advatnage of the potential of rising interest rates - not an option with the 4% term deposit.
And for the sake of less than a fiver, well worth it.
Personally, in this case, I'd say its good customer service to make the customer aware of how close the difference is to allow them to make a better informed choice between the two.Never argue with stupid people, they will drag you down to their level and then beat you with experience.- Mark TwainArguing with idiots is like playing chess with a pigeon: no matter how good you are at chess, its just going to knock over the pieces and strut around like its victorious.0 -
opinions4u wrote: »If the rates are as described, why would the balances make a different? It only becomes an issue if somebody is beyond their ISA limit.
If the customer had between £6k & 14k to deposit, and the 4% had a min. opening balance of 10k (which it certainly used to).Never argue with stupid people, they will drag you down to their level and then beat you with experience.- Mark TwainArguing with idiots is like playing chess with a pigeon: no matter how good you are at chess, its just going to knock over the pieces and strut around like its victorious.0 -
opinions4u wrote: »This site never ceases to amaze me. The quote above relates to returns on a 4% term deposit v a 3% cash ISA.
Assuming rates remain unchanged and interest is added annually:
£1,000 in an ISA at 3% would be worth £1,060.90.
£1,000 in a term deposit at 4% gross, 3.2% net would be worth £1,065.02.
A higher rate taxpayer wouldn't be better off with a 4% rate though.
A reason for a basic rate taxpayer taking the ISA would be to retain tax free status in future years and also to take advatnage of the potential of rising interest rates - not an option with the 4% term deposit.
If the rates are as described, why would the balances make a different? It only becomes an issue if somebody is beyond their ISA limit.
So there's just over £4 in it, when talking of over £1,000.
I did state that it would be 'around the same' amount.
Bare in mind that the 4% could be on deposits over a certain amount, a higher tax payer would pay more as you say, and of course the tax free status in future years - it's much less than people think, as I also stated.
So I am pretty much spot on.
Some people will think wow a whole 1% difference - that's an extra 20%! But when you do the maths, you're talking of a couple of quid more per one thousand pounds, with less benefits than an ISA.
So I'm right.0 -
This is the discussion thread for the following MSE News Story:
"A poll of MoneySavers shows Santander is still bottom for service, with First Direct the best ..."
No surprise there then.
They finally got around to displaying the references on business accounts for incoming BACS payments. Pity they didn't get around to it until I had been having those payments directed to a business account elsewwhere for 18 months or so. I won't be giving out different account details to all my customers now. I will just keep things as they are - meaning that Santander lose over £1k a month of business (not that it would bother them). However, they really made a major gaff recently by sending me info about someone else's account (a third party that is totally unknown to me). Nothing that I could use in a fraud but it was a serious enough breach for me to get a complaint rolling.
Also, I once stopped using an account for over 6 months and they removed it. They never told me. I just happened to find out a while after.0
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