One large firm that seems hell-bent on gaining a damaging reputation for dishonesty in its UK market is Santander, the Spanish-owned bank.

The bank has decided to renage on promises made to business customers by Abbey National and Alliance and Leicester, which they took over, that the customers would get FREE BUSINESS BANKING FOR LIFE if they opened business accounts with the firms. Those that did so have now received letters telling them that this is being withdrawn and that they will now have to pay a monthly charge of £7.50 for what Santander claim is an enhanced service, and which will earn the bank around £20 million in fees.

According to the Consumer Action Group the only redress businesses screwed by Santander have is a County Court action to establish that the bank has breached its statutory obligation under the Banking Conduct of Business regulations to treat customers fairly, a route that some are reportedly taking.

Leave a Reply