Santander Business Account Forced Changes (Again!)

matttye

chevrons2 wrote: »

I'm not sure how to do that. I've scanned both sides onto my desktop, but can't see how to get them on here.

First open the picture in paint and black out any personal details, then go to a website like https://www.photobucket.com (requires registration) or https://www.imageshack.us (doesn't require registration) and upload the picture then post a link here.

Edit: I'm presuming your scanner has turned them into image files and not PDF? If it's PDF you should try scanning them as picture files instead.

chevrons2

matttye wrote: »

First open the picture in paint and black out any personal details, then go to a website like ... (requires registration) or ... (doesn't require registration) and upload the picture then post a link here...

I've just tried that several times and MSE won't let me because I'm a 'new user':
"Sorry as a new user you are not allowed to post with links. This is done to stop spammers clogging up the site. Please edit your message below to continue".

chevrons2

http://img834.imageshack.us/img834/539/img024nb.jpg
http://img96.imageshack.us/img96/8100/img025tk.jpg

Now it's let me!
The second page is the important one, (although I haven't read the rest in any detail).

matttye

Do you have a business saving account or business current account? That change most definitely only affects the business saving account.

JuicyJesus

Yup, specifically says savings accounts, and then only those where cheque books have been issued, heavily implying that any which do have cheque books have had them issued in spite of policy anyway.

Complete non-issue. Well done, OP.

innovate

BusinessIsBusiness wrote: »

Oh.. The bit where they say they accidently sent out a chequebook to some savings account holders and because of this mistake as the account doesn't have this facility they won't honour the cheques... oh..

Oh....they give you plenty of notice, over 2 months, that the cheques won't be honoured after a certain date, and they tell you what other options you have. Oh...... what is the problem?

BusinessIsBusiness

innovate wrote: »

Oh....they give you plenty of notice, over 2 months, that the cheques won't be honoured after a certain date, and they tell you what other options you have. Oh...... what is the problem?

Exactly...

martindow

I've also received this letter. I wondered what section 1b meant on the first page. You can see the whole document from the link in post 14. Here is the final sentence of that paragraph

'As a result, the money will not be held in accordance with the client money rules of FSA'

Does this mean that balances in the account are not protected by the 85000 Pounds/ 100000 Euro guarantee?

JuicyJesus

martindow wrote: »

I've also received this letter. I wondered what section 1b meant on the first page. You can see the whole document from the link in post 14. Here is the final sentence of that paragraph

'As a result, the money will not be held in accordance with the client money rules of FSA'

Does this mean that balances in the account are not protected by the 85000 Pounds/ 100000 Euro guarantee?

No. The client money rules apply to funds held in trust by banks on behalf of their investment clients, which have to be mostly kept outside themselves. All Santander are saying is that they are holding your funds as a bank, not in trust for you, and so don't have to store your funds outside of Santander. The FSCS guarantee still applies.