Everyone flocking to Santander?

EachPenny

xylophone wrote: »

Going backwards?

Based on the switching data I'd say 'yes', especially Barclays

RG2015

ceredigion wrote: »

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 wrote: »

Going backwards?:)

And I just assumed that a regressed bank was an esoteric financial term.

Now I have to find a definition for an eskdanker.

Apologies, ceredigion, but I could not resist.

adindas

Since a while ago, I have been arguing the case that they would be losing customers. Quite a few people here on MSE were saying they would end up with more customers. So, from thsi CASS statistics it is evidence now that these people got it wrong.

Their net loss was only 88 customers, but this statistical data is just about CASS (e.g switching).How many people have downgrade d their account from Santander 123 to Santander 123 lite has not been indicated in this statistics.

So from this CASS statistics, how much money is flowing out from Santander 123 coming from people with multiple Santander 123 accounts with about 20k each, to the other banks has not been indicated.

I believe Santander might have learnt the lesson by now.

EachPenny wrote: »

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.

600sqn

What annoys me is the music they constantly play in Santander branches - think the track is called ‘A Namorada’ - I know it was featured in the film Speed 2:Cruise control

YorkshireBoy

adindas wrote: »

I have been arguing the case that they will be losing customers since a while ago. Quite a few people here were saying they will end up with more customers. So, it is evidence now that these people got it wrong.

You were claiming they'd be haemorrhaging customers. Many others, myself included, were saying they wouldn't...because a great many customers would simply downgrade their accounts to 'Lite' and put their savings elsewhere, rather than taking the easy route of one account for all of their cash. Add in those customers disappointed by NatWest's decision to drop their Reward account benefits who moved to Santander 'Lite', and customer numbers may even have increased.

How many people have downgraded their account from Santander 123 to Santander 123 lite has not been indicated in this statistic.

So not a lost customer then.

So in this CASS statistics, how much money is flowing out from Santander 123, coming from people with multiple Santander 123 accounts containing about 20k each, to other banks has not been indicated.

Never in question. Your original claim was they'd lose customers in their droves, not that they'd see a reduction in deposits.

I believe Santander might have learnt the lesson by now.

They simply couldn't continue to pay 3% AER on £20K balances. Surely you can see that adindas?




EDIT: Must you always edit your posts? Anyway, you can see I responded to your pre-edit 1st para (which you subsequently edited to add a CASS reference).

Zanderman

600sqn wrote: »

What annoys me is the music they constantly play in Santander branches - think the track is called !!!8216;A Namorada!!!8217; - I know it was featured in the film Speed 2:Cruise control

Ah, but I read an article in a newspaper that says they play Y Viva Espana in their Spanish branches, so all is not lost!

I know it was featured in Top of the Pops , 1974:
https://www.youtube.com/watch?v=W7aPp-4z-uw

Mchambers

Zanderman wrote: »

Ah, but I read an article in a newspaper that says they play Y Viva Espana in their Spanish branches, so all is not lost!

I know it was featured in Top of the Pops , 1974:
https://www.youtube.com/watch?v=W7aPp-4z-uw

Bur you can't beat the Go-To bank's silly adverts !!

eskbanker

adindas wrote: »

Since a while ago, I have been arguing the case that they would be losing customers. Quite a few people here on MSE were saying they would end up with more customers. So, from thsi CASS statistics it is evidence now that these people got it wrong.

If you're going to insist on regurgitating all this again, perhaps you might care to point out who these people are, what they actually said and when (real quotes would be useful), having failed to do so last time you were challenged on this?

https://forums.moneysavingexpert.com/discussion/comment/72270668#Comment_72270668

Charlton_King

Er... there's no remote possibility that the OP has invested heavily in Santander shares, by any chance, is there..?

No, no... silly idea. Stupid of me. Slap wrists...

OceanSound

@Op: have you considered hsbc? Although different operations in Spain and uk. You may be able to use same internet banking etc. Doubt you'll save any money on transfers. As banks charge a lot more than folks like transferwise, currencyfair, transfergo etc.
Can you not open an account with other banks based in Spain?
Btw. Doubt it's customer service that's making everyone flock to Santander. I had endless problems getting a dormancy block removed on an old savings account. The account had less than 5 pounds. Had to go to ombudsmen to resolve it.