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Santander
What a bum.
I will look out for my letter.
Lee
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Yes this was on the radio earlier in the week.
They did also say banks are thinking about charging on personal current accounts soon as well. May be a small charge of £4-£5 a month. Looks like free banking will disappear completely soon
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Back to cash in hand for everything then, taxman will be pleased.....
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This BBC article offers some good advice.
".....think about going to the County Court to obtain a judgement that Santander has breached its obligation to treat customers fairly, under the Banking Conduct of Business (BCOB) regulations."
http://www.bbc.co.uk/news/business-19012945
Lee
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Originally Posted by
leelive
This BBC article offers some good advice.
".....think about going to the County Court to obtain a judgement that Santander has breached its obligation to treat customers fairly, under the Banking Conduct of Business (BCOB) regulations."
http://www.bbc.co.uk/news/business-19012945
Lee
Sadly
"The terms and conditions of Mr Daniels' account make it clear that they can be varied by the bank with proper warning.
The bank says it is doing just that and will, in due course, issue all its customers with the required 60 days notice of the changes.
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is indeed accurate.
I dug out my original Ts & Cs from when I joined up around 6 years ago and this get-out-of-jail-free card is most definitely in there.
There are other free (and cheaper) business banking alternatives but to be honest, £7.50 per month before allowing for tax relief (so more like £6 for most of us) is hardly going to break the bank (pardon the pun)!
I've probably wasted this much by taking the time to read and reply to this article!
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Is it a charge based on what you put in over the counter or through a machine, or based wholly on deposits, i.e. those that come in via internet banking also?
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Originally Posted by
ianforest
Is it a charge based on what you put in over the counter or through a machine, or based wholly on deposits, i.e. those that come in via internet banking also?
They have just reversed the decision to charge those account holders who took up the "old" pre-Nov'11 'Free Banking Forever' account which does have a few limitations such as the amount of transactions and cash payments in per month, lack of branch facility etc..
If you want to "upgrade" to the paid account and get the extra "benefits" then you may still do so.
However for the vast majority of small businesses using the account as a mule for clearing cheques and electronically shifting balances around they can now continue to do so under the old terms for free rather than £7.50 plus per month.
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