Santander, much maligned, but is it fair??

[skyhuck]

I moved to Santander a couple of years ago.

 

The reason I moved was that Yorkshire Bank (who I had been with for over 25 years) started charging me for my business account.

 

Yorkshire would not give me an overdraft on my business account, Santander gave me £5K straight away.

 

Today I decided I wanted to borrow £10K.

 

I rang Yorkshire, as my business manager was a decent guy and had aways done me a decent deal.

 

They offered me a rate of 8%, but I would have to move my account back to them, they would "look at" giving me an OD, with an annual arrangement fee of £175, Santander charge me £50!!

 

Rang Santander, they were really help full and offered me 7.9%

 

I had thought of Santander as just a machine, with no interest in their clients, I must say I feel a little warmer towards them today

[Stephen Blair]

Seems high, RBS are doing 6.4% over 2 years.

[Steve Bullman]

Seems high, RBS are doing 6.4% over 2 years.

 

Thats just the advertised rates which always vary depending on customer.

[mdt]

Me on the other hand have left santander after many trouble free years as it was abbey but now santander am fed up of the incompetence of them, have put up with too many mistakes and had enough so shut my account, wasnt a business account though.

[Rich Rule]

I worked for a guy who had business banking with Santander.

 

Took over 5 days for money to appear in my account after he had transferred it. I thought it was a bit of a p take myself as on some occasion it caused me to go overdrawn etc when mortgages went out. Same for his paye guys. Would take an age for the funds to clear.

 

I reckon they were playing the market for a lot longer than the rest of the banks with our money.

 

They also screwed me on a mortgage offer a few years ago. For that reason I wouldn't use them.

[Mark Bolam]

My preferred method of payment is bank transfer.

With most customers it is instant, but as Rich found, Santander seemed to take the money from the customer then give it me a few days later, while they invested it in rebel diamonds and rhino-horn futures*.

 

No thanks.

 

Also, the Spanish and financial acumen are a strange combination.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*possibly

[detritus21]

I.m with Santander and money transfers for me are pretty much instant. My only gripe is cheques but otherwise they are spot on.

[Tom D]

All banks are like this, they lure you in with freebies and then stiff you once they have got you in. The big corporations, retailers etc change banks regularly to keep them on their toes.

 

I have been with RBS for years, they are pretty crap but I just can't face the hassle of changing, I have 4 accounts and a business mortgage with them.

 

My overdraft rate is 4% though, 8% is a pi55 take when base rate is as low as it is.

[skyhuck]

All banks are like this, they lure you in with freebies and then stiff you once they have got you in. The big corporations, retailers etc change banks regularly to keep them on their toes.

 

I have been with RBS for years, they are pretty crap but I just can't face the hassle of changing, I have 4 accounts and a business mortgage with them.

 

My overdraft rate is 4% though, 8% is a pi55 take when base rate is as low as it is.

 

 

No its pretty good for an unsecured bank loan to a LTD Co.

 

And its better than the Yorkshire who are trying to "lure" me back.

 

If my credit rate was not so good I'd be looking at 12.9%.

 

The days of keep money are long gone.

[Stephen Blair]

Huck you have Stolkhom syndrome!!

What you buying??