MSE News: Got a Santander current account? Find out if fees shake-up affects you

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Millions of Santander current account customers face new overdraft charges from 19 August, leaving some paying more...
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Got a Santander current account? Find out if fees shake-up affects you

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  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    Well, it's never good news to hear of increased bank charges but, with Santander, at least we know that some of those charges are going back to its customers in the form of 3% credit interest and cash-back on bills.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • Enigma42
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    In April, Santander reduced my £2,600 overdraft to nothing. When I went £44.06 overdrawn (two cheques) they charged me £10 then £25 for the cheque, then a further £100 un arranged overdraft fee. They have refused to cancel the £100 fee, even though I paid off the £44.06 as soon as I realised what had happened. They ignore the fact that they had removed my overdraft without my knowledge. Looks like nothing has changed with Santander.
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
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    Enigma42 wrote: »
    In April, Santander reduced my £2,600 overdraft to nothing. When I went £44.06 overdrawn (two cheques) they charged me £10 then £25 for the cheque, then a further £100 un arranged overdraft fee. They have refused to cancel the £100 fee, even though I paid off the £44.06 as soon as I realised what had happened. They ignore the fact that they had removed my overdraft without my knowledge. Looks like nothing has changed with Santander.

    It seems they have done nothing wrong, as their T&Cs make it clear they can take your overdraft away whenever they like. You will find that any bank can do this. Seems you have broken some bridges with them at some stage as they also didn't want to make any refunds.
    We have the right to change your Arranged Overdraft
    limit at any time. We can also require you to repay the whole or any part of your Arranged and/or Unarranged Overdraft at any time.
    We will usually give you 30 days’ notice of our intention to change your Arranged Overdraft limit or repay the whole or any part of any overdraft, however we may do either of these things without advance notice to you where it would be reasonable for us to do so

    From: http://www.santander.co.uk/csdlvlr/BlobServer?blobtable=MungoBlobs&blobkey=id&blobcol=urldata&blobheader=application%2Fpdf&blobheadervalue1=inline%3Bfilename%3DPDF-CORE0014.pdf&blobwhere=1314012030861&blobheadername1=Content-Disposition (my italics)

    Looking at their rates and fees, I can't see a single unarranged overdraft fee of £100, so you must have been in the unarranged overdraft for a considerable amount of time?

    Perhaps time for you to start anew at a different bank, but make sure you read the T&Cs before you sign up, to minimise chances of you being taken by surprise again.
  • tirmezi
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    I have £500 overdraft and currently experiencing financial hardship. I been charged £30 a month or £365 every year if I cannot pay off this £500. I did call them and requested this to change as a loan and I can pay this off but they refused and final decision is that I must pay £30 or £31 every month.

    I have another account with Natwest and with £1800 overdraft. Since January, they are only charging me £6 a month due to my financial hardship. Even if I pay them interest it would be around £30 a month in total.

    Not happy with Santander. :mad:
  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
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    tirmezi wrote: »
    I have £500 overdraft and currently experiencing financial hardship. I been charged £30 a month or £365 every year if I cannot pay off this £500. I did call them and requested this to change as a loan and I can pay this off but they refused and final decision is that I must pay £30 or £31 every month.

    I have another account with Natwest and with £1800 overdraft. Since January, they are only charging me £6 a month due to my financial hardship. Even if I pay them interest it would be around £30 a month in total.
    I'm guessing not, if you are in financial hardship, but any chance of increasing your overdraft with Natwest and paying off the Santander overdraft completely? You could then close the Santander account and just be paying one set of fees.
  • Consumerist
    Consumerist Posts: 6,310 Forumite
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    I'm guessing not, if you are in financial hardship, but any chance of increasing your overdraft with Natwest and paying off the Santander overdraft completely? You could then close the Santander account and just be paying one set of fees.
    Nice to see some practical advice instead of just quoting Ts&Cs to justify actions.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • jay29mcr
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    Santander has to be the worst bank in the UK. The charges are tantamount to criminal in that if you are even £1 above your agreed overdraft you are charged £6 per day with no cap from August 2014.

    (means if you go over by £1 and are unable to pay for 31 days you are looking at £216 charges)

    Also the daily charge for an agreed overdraft is £1 per day also with no cap.

    Before this, period the Unauthorized overdraft charge was £5 per day to a cap of £100 per month and £1 per day to a cap of £20 per month for authorized but even this is bad.

    My wife has (unfortunately) been with Santander for over 10 years and just last month she was over her agreed overdraft by just £16 only to be greeted with a whopping £96.00 unauthorized overdraft fee and on top of that a £16 agreed overdraft charge.

    We have tried to contact the bank to request a freeze or close the account and pay the £300 agreed overdraft as a debt but they threatened to sue us if we did that.

    As you can probably understand these types of charges are just not realistic for a long time customer who is currently receiving benefit but this particular bank just will not listen.

    As a comparison i recently joined FirstDirect and took the £250 overdraft account however i went over the agreed amount by about £29 over the course of 2 weeks. When i received the statement i'd found the only charges i received were £0.22 for going a little over.

    How do i resolve this issue with Santander because as i understand the only was to do this is to request closure and pay the full £300 on that day but for now this is not really an option for us.
  • Fruit_and_Nut_Case
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    jay29mcr wrote: »
    Santander has to be the worst bank in the UK.

    There are many who would disagree.
    Are you for real? - Glass Half Empty??
    :coffee:
  • jay29mcr
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    There are many who would disagree.

    Not those on the everyday current account.
  • Herbalus
    Herbalus Posts: 2,634 Forumite
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    jay29mcr wrote: »
    My wife has (unfortunately) been with Santander for over 10 years and just last month she was over her agreed overdraft by just £16 only to be greeted with a whopping £96.00 unauthorized overdraft fee and on top of that a £16 agreed overdraft charge.

    If you know about these charges, why would you and your wife not check your balance and allow the account to be overdrawn over your agreed limit for over two weeks?!

    Most bank accounts have charges that are bad news if you're not keeping track of your money.
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