No fee taken today from Santander 123 although interest and cashback paid as normal

[Deleted User]

My interest and cashback have been paid into my Santander 123 today, the 11th being my monthiversary. Normally the monthly fee is debited at the same time but no fee has been taken today. I'm wondering what"s going on and if I will pay £2 or the new £5. Can anyone help?

notbritishgas

My fee was taken at the normal time 7th Jan and was still £2.

[Deleted User]

Thanks nbg. That suggests the fee is payable in arrears, otherwise you would have been due a proportion of the monthly fee at the new rate.

System

Do payments out of the account tend to go out pm, payments in earlier in the day? ..I'm waiting for mine, too, but suspect it may not show on the account until this afternoon.

[Deleted User]

How much do you expect it to be, uselessaver?

System

I expect the increase will have been applied, so a fiver.
I had allowed for it, given the advance warning - but you never know (said allowing hope over experience)


Just seen your post below - in that case, you've answered your own question and helped me out, too - cheers! U.

[Deleted User]

I've had a look at the t and c's. It says that the monthly fee is taken from the account for the previous month on the monthiversary of the account opening. Thus fees payable today are for the month to today, and should only be £2.

[Deleted User]

Monthly fee debited today, one day late. £2 only. Presumably fees debited between today and 11 Feb will be somewhere between £2 and £5 to reflect the proportions of the preceding month at the old and new rates.

Archi_Bald

You were lucky there. I was charged £5 today, even though the Key Facts document says the charge is for the previous month. Santander explain that from Jan 11, they charge £5 regardless and there won't be any proportioning. So effectively anyone whose last statement date was after December 11 will be paying the £5 for the last month. It's not how I had understood it would work but I know now that it does. They have credited me £3 as a one-off goodwill gesture.

[Deleted User]

Id be interested to know how Santander are allowed to do that, Arch Bald. Looking at my paperwork, I think that my monthiversary was actually the 10th, although the fee debit usually takes place on the 11th, thus explaining why I got away with £2. People like yourself are actually being charged £5 per month for (up to) a month before the fee change date. Good of them to make you an ex gratia payment.

Archi_Bald

They probably can. I didn't keep the letters advising the change and the pages advising of the change have vanished from the internet, but I suspect the legal weasel words will be on their side. The reason they gave me the £3 is that they wanted to avoid a complaint, which I was ready to make.