Santander Premium Account Withdrawn

junpit

Hi

I don't know i this has been widely reported but I have just received a letter stating that my current £20 per month account benefits are beng withdrawn and the account is to be moved into their everyday account.

So the benefits like RAC, mobile phone ins etc. are all going and there is no fee. Here's an interesting one however. Currently premium account holders pay no interest charges on agreed overdrafts and get their agreed overdraft included for the £20 fee. If you have a 5k overdraft this ends up being very cheap.

Well now it seems anyone who currently has a premium account is going to get their agreed overdraft free with no interest and for no fee.

HTH

Darren

innovate

junpit wrote: »

Well now it seems anyone who currently has a premium account is going to get their agreed overdraft free with no interest and for no fee.

Are you sure of this? I don't know what the overdraft charges of the Everyday account are but I am quite positive they wouldn't be zero.

junpit

Hi

I just rang them. It seems that despite what they have said in my letter which seemed to show the difference between existing and new accounts, that a max £20 fee for using your od will still apply.

Sory for the confusion.

Regards

Darren

allybee_2

Not happy about this as i do avail of all the extras - travel / mobile insurance, breakdown cover etc.

can anyone recommed another bank that would offer me an account for a similar fee?

junpit

Hi

Try the nationwide flex account. Its £10 I think with all the extras.

pinkdalek

allybee wrote: »

Not happy about this as i do avail of all the extras - travel / mobile insurance, breakdown cover etc.

can anyone recommed another bank that would offer me an account for a similar fee?

Halifax's Ultimate Reward is either £15 or £10 per month depending on how you fund/use the account.

They also are giving £100 to switch and 6 months fee free agreed overdraft.

brendon

allybee wrote: »

Not happy about this as i do avail of all the extras - travel / mobile insurance, breakdown cover etc.

can anyone recommed another bank that would offer me an account for a similar fee?

To be honest, £240 /year is way over the odds for what you actually get. You can get breakdown cover for about £50 /year. Travel insurance is fairly cheap, and mobile insurance is barely worth it.

pinkdalek

brendon wrote: »

To be honest, £240 /year is way over the odds for what you actually get. You can get breakdown cover for about £50 /year. Travel insurance is fairly cheap, and mobile insurance is barely worth it.

I agree £240 is way over the odds, but not every bank charges £20 p/mth for the package account. For other banks you could pay £120 - £150 per year. It would be interesting to see what a like for like price would be on each product and compare. You may well be able to get cheap travel insurance, but is it better cover?

It's all about customer choice, banks should be allowed to offer these services if it suits the customer and is best for them.

ManAtHome

Could be more banks pulling out of the packaged account market http://www.thisismoney.co.uk/money/saving/article-2366565/Santander-kick-nearly-half-million-customers-paid-perk-accounts.html - "where there's blame, there's a bonanza...."

nickcc

Just received similar letter stating that Plus 50 account is changing to everyday account and all benefits will cease including travel insurance etc. looks like it will be the 123 account and paying for the extra benefits which will cost more than the £12 per month current fee or looking to bank elsewhere.

allybee_2

brendon wrote: »

To be honest, £240 /year is way over the odds for what you actually get. You can get breakdown cover for about £50 /year. Travel insurance is fairly cheap, and mobile insurance is barely worth it.

I supose i never thought about it like that. But i also get a free overdraft (which is at £500)