MSE News: Santander to charge for 'free' business accounts

magpiecottage

Put a couple more updates on my website.

GMJ_2

I just wanted to add my two pence worth by saying that I received the letter in question on the 18th August. I called the business banking phone number yesterday and was transferred to the 'dedicated phone line set up to handle enquiries about the changes' (0845 6061721), who gave me the standard fobbing off that previous posters have described. I followed that up with an email to [EMAIL="ceo@santander.co.uk"]ceo@santander.co.uk[/EMAIL] today and very shortly afterwards received a phone call from their executive complaints team. A couple of things arose from my conversation with Ralph, the advisor from the executive complaints team:

Firstly, he referred to their 'proposal' to introduce fees, which I thought was a strange word to use. I would have described it as a 'decision' rather than a 'proposal', especially as he assured me that Santander will categorically be pressing ahead with the fees in question and that it was not up for debate. Perhaps my understanding of the term 'proposal' is inaccurate, or perhaps he just chose his words poorly.

Secondly, he advised me that one option would be to open a separate personal account and use that for my business transactions without charge. Whilst this is something previous posters have pondered, I was surprised to hear this being put forward as a suggestion by Santander themselves.

Thirdly, when I asked him how many complaints they had received on the matter he said he would prefer not to comment.

I now await the official 'get stuffed' letter and will proceed to the FOS in due course.

magpiecottage

GMJ wrote: »

Perhaps my understanding of the term 'proposal' is inaccurate, or perhaps he just chose his words poorly.

Another discrepancy between the Oxford English Dictionary and the Santander English Dictionary. The latter, apparently, defining "Forever" as "until 2012".

I now await the official 'get stuffed' letter and will proceed to the FOS in due course.

Do complain to your MP as well.

tinman9898

A 'how to' video showing how to complain about Santander introducing unfair fees to the FREE FOREVER business bank account...

http://www.youtube.com/watch?v=1C21ZF0a6Sg

keithwjones

I have a suggestion of how to get around the charge, I know that it will not suit everyone and it does not address the main issue. But it will help those who only want to pay in cheques and cash.

Open a Business Instant Access Deposit Account for which there are no fees. But remember that there will be no cheque book or DDs. It can be operated online, telephone and comes with a card.

All I want is to pay in the odd cheque with no charges.

Keith

navman2860

just had a call from, probably, the busiest man at Santander... Ralph..

He suggested
Business Instant Access Deposit Account

... only difference is no cheque book... ( I don't need one)... and free...

Rooftop_2

I wrote to complain some 6 weeks ago and received the standard response, saying although my 11 year old Abbey/Santander account was offered "free indefinitely" Santander was within its rights to impose terms because of the T&Cs attached to the account NOW. I am no lawyer, but it seems to me that when Santander acquired Abbey it accepted all Abbey's baggage - that is normal business practice, quite possibly a legal requirement. I have told Santander that the T&Cs governing the offer of "free banking indefinitely" were those attached to the original offer, not the current conditions. I am waiting for a reply to that from Santander and will go to the Ombudsman if no joy.

Santander have a poor enough reputation as it is without riding roughshod over 230,000 business customers - will they never learn?

Rooftop_2

GMJ wrote: »

I just wanted to add my two pence worth by saying that I received the letter in question on the 18th August. I called the business banking phone number yesterday and was transferred to the 'dedicated phone line set up to handle enquiries about the changes' (0845 6061721), who gave me the standard fobbing off that previous posters have described. I followed that up with an email to [EMAIL="ceo@santander.co.uk"]ceo@santander.co.uk[/EMAIL] today and very shortly afterwards received a phone call from their executive complaints team. A couple of things arose from my conversation with Ralph, the advisor from the executive complaints team:

Firstly, he referred to their 'proposal' to introduce fees, which I thought was a strange word to use. I would have described it as a 'decision' rather than a 'proposal', especially as he assured me that Santander will categorically be pressing ahead with the fees in question and that it was not up for debate. Perhaps my understanding of the term 'proposal' is inaccurate, or perhaps he just chose his words poorly.

Secondly, he advised me that one option would be to open a separate personal account and use that for my business transactions without charge. Whilst this is something previous posters have pondered, I was surprised to hear this being put forward as a suggestion by Santander themselves.

Thirdly, when I asked him how many complaints they had received on the matter he said he would prefer not to comment.

I now await the official 'get stuffed' letter and will proceed to the FOS in due course.

The trouble with the personal account option is that most of us want an account in the name of our business, ie a Business Account!

Malcolm_Foster_2

I have now had my final fob-off letter from Santander today. Having made contact with the Financial Ombudsman (actually a woman!) and my local MP in connection with my ongoing dispute with Santander UK, I have just been in contact with the FSA about it.

After a long conversation to Canary Wharf giving all the details of this dispute in response to a lot of questions, I was informed that the FSA does not deal with individual complaints (only those fed back to them via the courts or Ombudsman) so I would suggest no one spends any time or money following this route.

Aethelric

GMJ wrote: »

Secondly, he advised me that one option would be to open a separate personal account and use that for my business transactions without charge. Whilst this is something previous posters have pondered, I was surprised to hear this being put forward as a suggestion by Santander themselves.

Yes, I was surprised too, especially as this is taken from their own terms and conditions for personal current accounts:-

To qualify for an account
Summary: there are a number of requirements you must meet before you can
open an account.
2.1 You must permanently reside in the UK (excluding the Channel Islands and the Isle
of Man). If you are a Crown employee serving overseas or are married to or in a civil
partnership with a person who performs such duties, you must retain a permanent
residential address in the UK for the account to remain open. You must not use the
account for business purposes.
(My emphasis)