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TSB now part of Santander
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Even printed cheques can be a problem. A few weeks ago a building society sent me a cheque* with faded text - like the dot matrix printer needed a new ribbon - and Lloyds' app wouldn't accept it. Fortunately I have lots of bank apps and Barclays did accept it and it cleared.
*When I requested an electronic transfer…
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I've had a few where the writing's been faded and the banking apps don't like them. I've found though that if you go over the numbers carefully with a pencil it makes the text stand out enough for the app to accept it. I've done this a few times, seems to work every time.
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The last cheque that I paid in was for about £30K a few months ago. I have had larger ones in the past. That appears to be too much for the apps. I expect that I could pay it in at an ATM, but it is more reassuring to have a cashier eyeball it and give me a receipt. They may go in quicker that way too. The building societies seem to be better than the banks for paying in cheques.
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Also that Santander have made noises about leaving the UK market (whether we believe it or not) and one strategy would be to rebrand Santander UK as TSB (a well-known 'high-street' brand) rather than have some form of licencing arrangement with any putative buyer to allow them to continue using the Santander name (with all the reputational risks that might come with).
Rebranding Santander UK to any of the former building society brands before such a sale would likely have less impact/value than selling a bank (TSB) with a name that most people would recognise.
That's not to say Santander will leave the UK market, but that the TSB name is likely worth keeping if options were wanted in the future.
Sabadell's retention of the TSB brand (rather than rebranding TSB as Sabadell in 2015) has enabled them to divest themselves with less difficulty now.
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Santander itself denied the rumours, they came from elsewhere, but if it did rebrand TSB's an awful, low rent brand. It would do better to go back to Abbey.
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In the spirit of the old 'Lloyds TSB' name, could their UK business become 'Santander TSB', or is that too much of a mouthful?
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The Santander Bank
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TSB isn't a very well known stand alone brand. I keep reading press reports and social media comments where people think TSB is still part of Lloyds.
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I'm reading the suggestions and comments on this thread about how Santander can deal with TSB going forward. It leads me to conclude that Santander could save a lot of money on marketting, they could instead, just use MSE members to come up with workable ideas......some of them are very, very good ! 😀😀
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