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

magpiecottage

MKBS wrote: »

It's interesting that Santander claim their fixed fee account is award winning...

Er yes - sorry, I have awarded them Plonker of the Year for trying to switch me to it.

madonnamustache

CarolynCh wrote: »

There will always be a charge at both ends for a foreign payment (I think there might be exceptions with Euros within the EU). It is up to the person sending the payment to say if they want to pay either or both of these charges when they send the payment. If you make it clear in your terms/on your invoice that all bank charges must be paid by the person sending the payment then you should be OK (if your customer follows your terms of course). We rarely have a charge taken off by HSBC as our customers pay at their end.

Hi there - thanks so much for your comment. That sounds reasonable - but HSBC have told me that they DO charge for incoming transfers, while Santander have confirmed that they DO NOT. So I am still confused...

cocacolakid

Hi everyone

I just spoke to Santander to ask why I haven't had a letter yet informing me of forthcoming charges to their business account and they said it is probably as they changed their mind before my letter went out. Apparently those already with an account can keep the free banking with the same terms and conditions.

This is great news for a Friday afternoon!

Edit: Sorry, only read the last page of posts which didn't mention the above. See from previous posts you already know. Still great news and well done to all who campaigned. Maybe their legal dept. told them they couldn't go ahead?

Jaxer

Does anyone know if it's possible to set-up direct debits on a Santander Business Reserve (deposit) account. It's one of the older versions that isn't available now.

I called up Customer Services who said no, I'd have to do it on the linked current account, but I remember reading somewhere that someone had said they did this.

BusinessIsBusiness

Jaxer wrote: »

Does anyone know if it's possible to set-up direct debits on a Santander Business Reserve (deposit) account. It's one of the older versions that isn't available now.

I called up Customer Services who said no, I'd have to do it on the linked current account, but I remember reading somewhere that someone had said they did this.

Thats right, you cant with a savings account. Its outlined in the latest Business Reserve (instant access deposit) T&Cs (which works in the same way as reserve accounts with sort codes ending in 27/28/51/55/50 etc. Section 5 Withdrawls of the t&c's states its by electronic bacs transfer or atm's only.

http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223423584200&cachecontrol=immediate&ssbinary=true&maxage=3600

cfuk

gt94sss2 wrote: »

As per my previous post, consider the HSBC Business Direct Account - its free as long as you stay within certain transactional limits..

Regards
Sunil

Sadly HSBC have now dropped their free account - any advice on where to go next?

euroaccountpls

magpiecottage wrote: »

Perhaps - but I doubt they will do it again in a hurry.

If they try we'll reassemble our rag tag navy and send the Spanish Armada packing again!

Should it be reassembled now for santanders new business banking change to new terms and conditions that dont include the Free element.?

firehorse_2

Hi,

Has everyone else got the letter about free business banking ending?

madonnamustache

firehorse wrote: »

Hi,

Has everyone else got the letter about free business banking ending?

Hi - it's not ending. It's still free for most day to day transactions. That's what the letter confirms.

jimjames

firehorse wrote: »

Hi,

Has everyone else got the letter about free business banking ending?

My letter says it's actually more free than it was.

Previously had to pay in £1000 per month to avoid £5 fee. Now that isn't needed and transaction limits are above what I'd use.