We received a letter today stating that Santander will start charging on a "Free Business Banking Forever" account we opened back in 2003.
Marketeers seem to have a problem with vocabulary - like internet providers and mobile companies' interpretation of the word 'unlimited'!
Don't let them get away with it - I have the evidence in black and white from when we opened the account - call Santander on 0845 606 1721 and lodge a telephone complaint. We’ll be taking it up with the Financial Ombudsman if they don't back down. Enough complaints will hopefully force a re-think, although the Financial Services Authority’s (‘FSA’) Lord Turner has ruled that free banking has to end as it “stifles competition”. Really? Is free not competitive?
Who's with me?
[Would also refer you to this Facebook group - not set up by me]
[Tell BBC's Watchdog about it here - choose 'Finance' in the drop-down box or Rip Off Britain here]
ANOTHER broken pledge (this time on mortgage rates) here.
... and did you know the sort code of their business accounts ends in '666'? I just put that in for mischief - I don't actually believe they are: ... (look closely at the logo) ....
Update 23 Aug 12: Just spoke to Ralph Tetlow (Santander Exec Complaint Team Manager - Tel: 01908 934552) to give him a right of reply before escalating my complaint to FOS. I said their written response did not address why they don't think they mis-sold - only to say they were sorry I felt they had. He insists their Legal department says the changes are in accordance with the T&C's. I imagine, though, that Legal have looked at these in isolation and not in the context of the marketing campaign used to promote the product. Keep the pressure on them - call him, join the FB groups, go to Watchdog, Tweet like there's no tomorrow!!!
Update 6 Sep 12: RESULT!!! Santander have backed off - Reported in HuffPost here.