Santander free forever bank account changes

Section62

Lightning360 said:

Section62 said:

Emmia said:

Section62 said:

Lightning360 said:

Emmia said:

singhini said:

Out of curiosity, why don't Santander just notify their customers they intend to close all these types of accounts (similar to what TESCO did with their current accounts back in November 2021)?

Are Santander not allowed to do it? 

I've asked this already... There's nothing stopping them other than "optics". I personally think negative optics are likely to be short-lived on this issue.

I agree. The vast majority of people won't even know about this and of those that do, many won't care. It's funny how everyone complaining has completely failed to answer this question.

Answer which question?

The question as to whether Santander can remove free business banking.

Answer, yes they can. Either via notice or by declining to continue serving those businesses by closing the accounts.

Well that one has been answered by both you and Hoenir already, so I don't understand Lightning360's point, or amusement?

Those complaining don't need to answer that question.

It would help them realise why Santander is doing this and if complaining will actually get anywhere. 

If "can they do it" were the only consideration then you might have a point.  But "fair" comes into the equation as well.  Santander can introduce charges and/or close accounts, but if people complain about the charges - given the promise they were made - the question that may be asked is whether it would be fair to do so.

Those who are thinking about making complaints could benefit from searching for information relevant to banks about "Treating customers fairly".  The FCA sets the rules and provides guidance. Fairness is an underpinning principle of these.

Instead of finding other forum member's misfortune "funny" how about offering some constructive advice?

Taff601

Just got my letter.  If I have to move my account to Co Op then all my other Santander Accounts will be moving too.  I moved from HSBC to Abbey as it stated FREE BANKING for Life.  I kept £10 in the HSBC account when I switched and they still have to send me statements. Its costing them money and giving me a little bit of pleasure knowing that.  Banks are just trying to put one over on us. Anyone have any other ideas?

Lightning360

Section62 said:

Lightning360 said:

Section62 said:

Emmia said:

Section62 said:

Lightning360 said:

Emmia said:

singhini said:

Out of curiosity, why don't Santander just notify their customers they intend to close all these types of accounts (similar to what TESCO did with their current accounts back in November 2021)?

Are Santander not allowed to do it? 

I've asked this already... There's nothing stopping them other than "optics". I personally think negative optics are likely to be short-lived on this issue.

I agree. The vast majority of people won't even know about this and of those that do, many won't care. It's funny how everyone complaining has completely failed to answer this question.

Answer which question?

The question as to whether Santander can remove free business banking.

Answer, yes they can. Either via notice or by declining to continue serving those businesses by closing the accounts.

Well that one has been answered by both you and Hoenir already, so I don't understand Lightning360's point, or amusement?

Those complaining don't need to answer that question.

It would help them realise why Santander is doing this and if complaining will actually get anywhere. 

If "can they do it" were the only consideration then you might have a point.  But "fair" comes into the equation as well.  Santander can introduce charges and/or close accounts, but if people complain about the charges - given the promise they were made - the question that may be asked is whether it would be fair to do so.

Those who are thinking about making complaints could benefit from searching for information relevant to banks about "Treating customers fairly".  The FCA sets the rules and provides guidance. Fairness is an underpinning principle of these.

Instead of finding other forum member's misfortune "funny" how about offering some constructive advice?

Being aware of what Santander is able to do, rather than just assuming they are doing something wrong, is constructive.

subjecttocontract

Presumably Santander are doing this to save money by getting business account holders to pay the operating costs. If so, that means not everyone will be unhappy about the changes.

gt94sss2

boingy said:

It depends on the business but changing the main bank account can be a proper pain and can cause problems for months. Most of my customers paid me by bank transfer and that usually meant they just select you on their system and enter the payment details. I changed the invoice to the new bank details, I included a covering letter with those invoices and I wrote to each customer separately to change the details on their system and I still had payments going missing for weeks and months because they were sent to the closed account. 

If you CASS your account, then any incoming payments to the old account will be redirected to your new account.

boingy said:

Interestingly that 2012 Beeb article says:

"We guarantee that unless there are any changes to the law or banking regulations, or any new taxes relating to bank charges, you will benefit from free day-to-day business banking forever," one brochure seen by the BBC said.

However you look at it, the bank was proper daft for putting that in writing.

As an interested bystander, I assume that Santander can change the T&C with sufficient notice. All affected customers can really do it's raise media awareness and hope they reverse their decision. 

As for the BBC quote, even if it was legally binding there have been plenty of changes to the law and banking regulations since then..

Futuristic

Plenty of "free" options out there, Santander run outdated online and mobile banking. Their business app has been awful for many years and only recently just about made it half useful. 

It's still interesting they are doing this whilst HSBC made their small business (kinetic) free and NatWest has free brand (Mettle) which is probably far better than the Santander offering. With CASS I don't know why so many are complaining and you have 2-3 months+ to switch and have your details updated. 

They are also moving all other business current accounts for this "Classic" one, my own 123 business is too. But I have better things to do then waste time complaining with many better alternatives and it was even better than being free they paid us to use it with £100+ cash back every year (after monthly fee)  

Hoenir

boingy said:

Interestingly that 2012 Beeb article says:

"We guarantee that unless there are any changes to the law or banking regulations, or any new taxes relating to bank charges, you will benefit from free day-to-day business banking forever," one brochure seen by the BBC said.

However you look at it, the bank was proper daft for putting that in writing.

Seem to have cover all eventualities then. Banking regulations are in a constant state of flux. Certainly far more overbearing than 13 years ago. 

BlueSunnySky1001

Hello, While we wait and contemplate our next move, could anyone please upload the brochures with the terms and conditions that they may have received relating to the account at the time they opened it, from 2011 or 2010 or whenever? While they are counting on us challenging them on Section E(14), there will be plenty of other areas in those terms and conditions. They are bound by them all, not by Section E(14). So if there are a few vulnerable points where they can be challenged better, we can just ignore this section and focus on the points that are in our favour. 

Like Sun Tzu says in his Art of War, ignore where they are strong and attack where they are weak. I took on British Airways and won with the Ombudsman solely by doing this. Every corporation is bound by all their terms and conditions, not just some of them and if they violate even one of them, they are liable and the Ombudsman knows this only too well too. 

Obviously, we have to go through the internal complaints with them first which is a necessary step before the ombudsman, even though we know will be rejected by Santander. We simply cannot allow them to renege on offering us our free forever account which means it should be for life.

Lightning360

BlueSunnySky1001 said:

Hello, While we wait and contemplate our next move, could anyone please upload the brochures with the terms and conditions that they may have received relating to the account at the time they opened it, from 2011 or 2010 or whenever? While they are counting on us challenging them on Section E(14), there will be plenty of other areas in those terms and conditions. They are bound by them all, not by Section E(14). So if there are a few vulnerable points where they can be challenged better, we can just ignore this section and focus on the points that are in our favour. 

Like Sun Tzu says in his Art of War, ignore where they are strong and attack where they are weak. I took on British Airways and won with the Ombudsman solely by doing this. Every corporation is bound by all their terms and conditions, not just some of them and if they violate even one of them, they are liable and the Ombudsman knows this only too well too. 

Obviously, we have to go through the internal complaints with them first which is a necessary step before the ombudsman, even though we know will be rejected by Santander. We simply cannot allow them to renege on offering us our free forever account which means it should be for life.

Your last sentence is where you are going to have to be really careful. A free forever account in theory means for the period that account exists. Santander is removing the account so it will no longer exist. Unless they specify it is for your entire life, you are assuming incorrectly. You are right that the T and C's are the most important thing

amyfairweather

Hopefully, the following documentation will assist many here.

As you will see, it was not just Abbey National / Abbey / Alliance & Leicester who advertised free forever, Santander themselves did as well (see images 5-8).  Unfortunately, I only have a phone camera at present, but will try to scan these if possible.