Santander's Fee free Account

[Sapphire]

Re: Santander's Feeless Account

msl:Personally I always think of him being the banker on Deal or no Deal !

[EXC]

Re: Santander's Fee free Account

Can someone tell me that if you don't have sufficient funds in your account to meet a payment instruction will the DD or whatever simply be declined?

[Amethyst]

Re: Santander's Fee free Account

I asked her....

''If there are insufficient funds in the account to pay the mortgage would the mortgage be paid and incur the unauthorised interest''

and they said

Finally, the mortgage would still be paid. The customer wouldn’t incur any fees and their overdraft interest rate would again be 12.9%.


There must be a limit somewhere else people just have endless overdrafts....it may be they would Abbey pay products and return others.

[EXC]

Re: Santander's Fee free Account

Give me the phone number Ame.

[Amethyst]

Re: Santander's Fee free Account

lol okay - actually will pm it you x

[charitynjw]

Re: Santander's Feeless Account

Matthew 21:12,13

[EXC]

Re: Santander's Fee free Account

Well after 10 minutes on the blower I'm none the wiser really. They spouted the usual rubbish about contacting the customer if it looks like they're going to exceed their overdraft but they will decline a payment instruction if necessary and for no charge.

The account will be launched on 11 January and the T&Cs will hopefully be available a few days before.

[Amethyst]

Re: Santander's Fee free Account

so what's 'necessary' then - not being an abbey payment ? lol

[Amethyst]

Re: Santander's Fee free Account

12th nov re packaged accounts.

Santander cuts charges on packaged current accounts
Current account fees attached to a number of Santander products are to fall, it has been revealed.
Now could be an ideal time to seek out Alliance & Leicester and Abbey current accounts.

Santander reveals that new customers taking out the Alliance & Leicester Premier 50 Current Account and Abbey Reward Bank Account will find the monthly account fees on such products are to be reduced from £10 to £5 for the first three months.

Both of the packaged current accounts offer a six per cent interest rate for 12 months, in addition to benefits such as lost card assistance, identity protection and travel insurance.

Current account manager Emma Walkley points out that both the Abbey and Alliance & Leicester products "can provide a great current account to suit your needs, plus giving you a market-leading rate of interest on your money."

She adds that now is a "great time" for consumers to compare accounts to ensure they have a product that is both suitable to their banking needs and offers a competitive rate of return.

[Amethyst]

Re: Santander's Fee free Account

Here we are

Special Conditions H: For Zero Current Accounts
H1 Introduction
These conditions apply to any person who opens a Zero Current Account
with us who meets the eligibility criteria as set out in H2 below. If there is
any inconsistency between the General Bank Account Conditions and these
Special Conditions the Special Conditions will prevail.
H2 Eligibility
To be eligible for the Zero Current Account:
H.2.1.1 you must be a UK resident and be 18 years of age or over;
H.2.1.2 you must be a mortgage account holder with Santander UK plc.
You must remain a mortgage account holder for the duration of time
you hold a Zero Current Account;
H.2.1.3 your mortgage with Santander UK plc must not be in arrears; and
H.2.1.4 new bank account customers are required to switch to the Zero
Current Account using the Account Transfer Service. Existing Bank
Account customers are required to upgrade their account.
We will check you remain eligible for the account on a regular basis.
If you fail to meet these eligibility requirements you will cease to be
eligible for the Zero Current Account. We will notify you of this in
writing. You will be moved to our Preferred In-Credit Rate account
and will be obliged to pay any Service Fees in accordance with the
General Bank Account Conditions, Key Features and Price List.
H3 Use of your account
H3.1 Your Zero Current Account must be used as your Primary Bank Account.
H3.2 You must credit your Zero Current Account with a minimum sum each month
– please see the Key Features and Price List for details.
H3.3 Use of the Zero Current Account must be in accordance with our Fair Usage
policy defined below.
H3.4 If you do not conduct Fair Usage of your Zero Current Account you will be
notified and cease to be eligible for the Zero Current Account and you will
be moved to our Preferred In-Credit Rate account. Your account will remain
subject to the General Bank Account Conditions and account charges will
be payable in accordance with the Key Features and Price List.
H4 Joint Accounts
Joint accounts are available with the Zero Current Account provided that
nominated account holders are named on the mortgage.
H5 Overdrafts
You may be eligible for an overdraft on your Zero Current Account. All
overdrafts are subject to status.
H6 Definitions
‘Arrears’ means where you have failed to make two consecutive monthly
payments under your mortgage.
‘Primary Bank Account’ is defined as having your main form of income paid
into the account, with a minimum sum each month (please see Key Features
and Price List for details) and all direct debits and standing orders (minimum
of two) set up on the account.
‘Fair Usage’ means making a maximum of 25 transactions per year from the
Non-Standard Account Service Fees List in the Key Features and Price List.


mungo blob lol - http://www.santander.co.uk/csgs/Stat...ue&maxage=3600


the 25 max seems only to apply to

Interest Rates & Fees - Bank Accounts: Santander
Non standard account service fees

Banker's draft and counter cheque fee (please note counter cheques have a minimum transaction value of £1,000)
Free

Stop payment of a cheque
Free


But have asked for clarification

[enaid]

Re: Santander's Fee free Account

But did they mention if you have a mortgage with them and although the bank wont charge for not paying the mortgage, that the fact that months mortgage has not been met will add a charge to your mortgage account and be added on for many a year in most cases.