Santander phone call - not good

charlieboycat

innovate wrote: »

There's nothing about a rate cut on 13/03/2013 on that page?

Hardly surprising since the poster provided a link to an out of date (October 2012) document :rotfl:

The most recent one on the website is at http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223429657055&cachecontrol=immediate&ssbinary=true&maxage=3600 - dated 4th February and showing 3.2%

In any event, I doubt they'd update that document until the date the change took place.

charlieboycat

Maybe I'm misunderstanding, but don't the T&Cs require 2 months advance notice:

16.2 We can change interest rates providing:
a) We give you at least two months’ personal notice where:
(i) your account is a Payment Account;

1 Meaning of words
Summary: Certain words have a specific meaning throughout these Conditions.
These words and their meaning are listed below.
Our accounts are categorised into two types: ‘Payment Accounts‘ and ‘Non-payment Accounts.’ Generally an account will be a Payment Account unless it has some form of restriction on how money can be paid in or out of that account. Examples of Payment Accounts include ordinary current accounts and instant access savings accounts where money can be paid in and out with minimal restrictions.

typistretired

This is currently showing on their website update 4th February 2013.

eSaver (Issue 5) Including bonus Excluding bonus Including bonus Excluding bonus1+ 3.20% 0.50% 2.56% 0.40%

Rates effective from 9 June 2012. Includes variable rate bonus for 12 months from account opening. Monthly rates are 3.15% (including bonus) and 0.50% (excluding

bonus) gross and 2.53% (including bonus) and 0.40% (excluding bonus) net.

DESPITE THEIR FAULTS I DON'T BELIEVE SANTANDER WOULD RING YOU ABOUT THE REDUCTION UNLESS YOU ARE A SPECIAL CUSTOMER. I SPOKE TO CUSTOMER SERVICES YESTERDAY ABOUT A DIFFERENT MATTER AND THEY WERE UNAWARE OF A REDUCTION.

I EXPECT A LETTER FROM THEM ABOUT ANY REDUCTION AS I BELIEVE THEY ARE ATTEMPTING TO RAISE THEIR CUSTOMER SERVICE PROFILE

Milarky

innovate wrote: »

There's nothing about a rate cut on 13/03/2013 on that page?

I was simply referencing the variable nature of the bonuses on all issues of esavers in a longish doc and pointing out to individuals whereabout this fact about their particular issue is confirmed . The document confirms they are all bonuses are variable. [so not much surprise there]

Meanwhile, @charlieboycat, the accounts being subject to a minimum of two months notification on a cut in rates, at least holds Santander's feet a bit closer to the fire, n'est pas?

neil324

Will there be written notice of this or will it just happen.

I have an issue 5.

I expect enforcers to start coming round with sticks in the next phase of repression.

gorbyuk

So is there a change or not? Im moving 10k on Monday to add to my isa for this and next year so timings not bothering me personally as much as it could

innovate

gorbyuk wrote: »

So is there a change or not? Im moving 10k on Monday to add to my isa for this and next year so timings not bothering me personally as much as it could

I am not aware that anyone got anything in writing, and certainly haven't seen anything myself.

Why are you moving money for next year's ISA on Monday?

gorbyuk

I have not used my 12/13 allowance so I managed to get them to give me the preferential rate of 2.75% for balances over 15k hence the need to move the additional funds

typistretired

Don't forget you can open another isa from 6th April 2013 for the 2013-2014 period.

Checking their terms and conditions as another poster said they have to give 2 months notice to payment accounts which a savings account comes under.

innovate

Sorry, I am still confused

gorbyuk wrote: »

Im moving 10k on Monday to add to my isa for this and next year so timings not bothering me personally as much as it could

gorbyuk wrote: »

I have not used my 12/13 allowance so I managed to get them to give me the preferential rate of 2.75% for balances over 15k hence the need to move the additional funds

You cannot deposit you next year's ISA money before April 6 2013.
Your 2012-13 allowance is £5,640.
Why are you moving £10K on Monday then?

On another point - - are you saying you negotiated a deal with Santander? What sort of an ISA is it - instant access or fixed term?