123 account new T&Cs

Alter_ego

Just had the usual notice of new T&Cs from Santa.
Clause 18.2 now includes "We may also close or suspend your account if it has been inactive for some time" This comes into effect on 1 Oct.

Is this possibly a sign that folks using it as a savings account with only the essential DDs and monthly churning of £500 could be regarded as inactive?

Hopefully not, but I'm going to make sure mine shows a few more transactions, just to be on the safe side.

SnowTiger

Alter_ego wrote: »

Is this possibly a sign that folks using it as a savings account with only the essential DDs and monthly churning of £500 could be regarded as inactive?

An account isn't inactive if transactions are being made.

Alter_ego

SnowTiger wrote: »

An account isn't inactive if transactions are being made.

Agreed, but their definition might differ.

Archi_Bald

It's pretty academic what they mean by 'inactive', as "You or we may close your account at any time by giving the other notice without giving any reason"

This is in all banks' T&Cs - may be not with those very words but it has always been the case that both parties could close an account without giving any reason.

joe134

Archi_Bald wrote: »

It's pretty academic what they mean by 'inactive', as "You or we may close your account at any time by giving the other notice without giving any reason"

This is in all banks' T&Cs - may be not with those very words but it has always been the case that both parties could close an account without giving any reason.

If it's in ALL banks T/cs, presumably it was already in Santanders, so why Emphasise it in the letter, as if it was/is a new T/c.
They say they are adding more detail to the existing T/c on inactivity, which as you say, is subjective.
I've had the same letter, it is number 1 of the T/cs to be changed/amended/stressed in more detail . I cannot see the change from the old T/c, can you.?

Archi_Bald

joe134 wrote: »

I've had the same letter, it is number 1 of the T/cs to be changed/amended/stressed in more detail . I cannot see the change from the old T/c, can you.?

No I can't see the change either, but then I don't mind because...see my earlier post in this thread.