Santander fined £32 million for failing families of deceased customers - MSE News

Former_MSE_Naomi

The financial regulator has fined Santander £32.8 million for failing to process customers' accounts and investments effectively after they died...

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'Santander fined £32 million for failing families of deceased customers'

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Uxb

Very surprising this.
I was doing executor's duties last year and found Santander one of the more efficient of the various banks and credit card bereavement depts I had to contact.
I was doing it with full grant of probate which might have made a difference.

Zola.

I am a Santander customer, this is disgusting.

badger09

Uxb wrote: »

Very surprising this.
I was doing executor's duties last year and found Santander one of the more efficient of the various banks and credit card bereavement depts I had to contact.
I was doing it with full grant of probate which might have made a difference.

Likewise. My experience this year as executor is that Santander were one of the easiest & most efficient financial organisation I had to deal with.

mac.d

Uxb wrote: »

I was doing executor's duties last year and found Santander one of the more efficient of the various banks and credit card bereavement depts I had to contact.

badger09 wrote: »

Likewise. My experience this year as executor is that Santander were one of the easiest & most efficient financial organisation I had to deal with.

Not surprising as the article states "Around 40,000 deceased customers' accounts were affected by the failings, which took place between 2013 and 2016."

And Santander admitted fault (and had the fine reduced because of this) and said: "We have now transferred the majority of customer funds (two thirds) and made significant improvements to our whole probate and bereavement process."

So they've obviously improved, pretty sad that a third of those affected are still waiting for their money though. This is the last thing you need when dealing with a bereavement.

Incidentlally, my own experience was with TSB and despite all the flak they get for their IT issues this year, they were one of the easiest & most helpful of any company I had to deal with throughout, and it really does make a difference.

nokendo

So the article says:
"Santander says it has details to help track the beneficiaries of half of the remaining affected accounts. We've asked Santander how customers should get in touch if they think they have been affected and will update this story when we hear back."


That was two months ago, Naomi please can you remind them of this commitment and then update the article? The last thing people need in this situation is the 'big company run-around'.