Everyone flocking to Santander?

600sqn

I read a news article which said everyone is flocking to Santander and they are gaining a significantly more new customers and current account switchers compared to other banks? Why is this? Anything in particular? Better rewards, cashback, customer service, better brand? Etc

Curious on other people’s thoughts if you’ve switched to Santander.. and who from and why you did the switch?

EachPenny

600sqn wrote: »

I read a news article which said everyone is flocking to Santander and they are gaining a significantly more new customers and current account switchers compared to other banks? Why is this? Anything in particular? Better rewards, cashback, customer service, better brand? Etc

Curious on other people’s thoughts if you’ve switched to Santander.. and who from and why you did the switch?

Well the latests CASS switching dashboard (published January 2018, with win/loss data for Q2 2017) suggests a very different story. (see page 4)
https://www.bacs.co.uk/DocumentLibrary/CASS_dashboard_-_published_24_Jan_18.pdf

Ok, their net loss was only 88 customers, but in terms of the banks people were flocking to, Nationwide and TSB were the clear winners.

The message from the stats is banks offering good switching deals and interest rates attract lots of customers... and Santander haven't really offered anything special for a long time.

ceredigion

600sqn wrote: »

I read a news article which said everyone is flocking to Santander and they are gaining a significantly more new customers and current account switchers compared to other banks? Why is this? Anything in particular? Better rewards, cashback, customer service, better brand? Etc

Curious on other people’s thoughts if you’ve switched to Santander.. and who from and why you did the switch?

A link to the "news article" please.

RG2015

Here we go. Sadly it is from 2015.

https://www.telegraph.co.uk/finance/personalfinance/bank-accounts/11005213/League-table-the-banks-winning-and-losing-customers.html

PeacefulWaters

You're out of date and a bit over-focused on Santander in your posting.

600sqn

Is Santander better to be with over Barclays if your thinking of moving to Spain or working out there?

Zanderman

600sqn wrote: »

I read a news article which said everyone is flocking to Santander and they are gaining a significantly more new customers and current account switchers compared to other banks? Why is this? Anything in particular? Better rewards, cashback, customer service, better brand? Etc

Curious on other people!!!8217;s thoughts if you!!!8217;ve switched to Santander.. and who from and why you did the switch?

Three year old news? Trends in customer loyalty move faster than that - three years ago Santander offered 3% on £20000 balances. No wonder they were popular. But they don't anymore.

You do seem a bit overly concerned with Santander - this is your third thread about them in the last few days!

https://forums.moneysavingexpert.com/discussion/comment/74088840#Comment_74088840
and
https://forums.moneysavingexpert.com/discussion/comment/74095151#Comment_74095151
(one of which effectively duplicates the other)

ETA, sorry, missed your 4th Santander thread: https://forums.moneysavingexpert.com/discussion/5818137

ceredigion

600sqn wrote: »

Is Santander better to be with over Barclays if your thinking of moving to Spain or working out there?

It is, Santander uk plc. which is ring fenced and separate to anything in Spain

eskbanker

ceredigion wrote: »

600sqn wrote: »

Is Santander better to be with over Barclays if your thinking of moving to Spain or working out there?

It is, Santander uk plc. which is ring fenced and separate to anything in Spain

Your comma makes your post ambiguous - are you agreeing with OP (Q: is Santander better....? A: It is, ....") or disagreeing (actually meaning "It is Santander uk plc ....")?

FWIW, they do claim that cash withdrawals from Santander ATMs in Spain are free if you meet a minimum monthly pay-in, but then seem to imply that they're free anyway, unless I'm misunderstanding this from https://www.santander.co.uk/uk/current-accounts/current-account-faqs:

Are there any fees for using a Santander cash machine in Spain?

If you have an adult current account and pay in at least £500 per month, you can get free cash machine withdrawals in Spain when you use any Santander cash machine.

We don't charge you for using a cash machine abroad but the cash machine operator may make a charge.

ceredigion

eskbanker wrote: »

Your comma makes your post ambiguous - are you agreeing with OP (Q: is Santander better....? A: It is, ....") or disagreeing (actually meaning "It is Santander uk plc ....")?
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Apologies for my grammar eskdanker,
What I was trying to say is that they are both uk regressed banks so one offers no benefit over the other

xylophone

What I was trying to say is that they are both uk regressed banks

Going backwards?:)