Santander doubling overdraft charges.

djstevie · 18-01-2012, 18:52

Received a letter from Santander today saying that they are increasing my arranged overdraft fee from 50p a day to £1 a day up to a maximum of 20 days.

When it was Alliance and Leicester it was a flat £5 fee per month then less than a year ago when Santander took over my account it went to 50p a day up to a maximum of £10 a month. Now less than a year later they are doubling it again.

Time to vote with my feet methinks. Im only into my overdraft by £8 this month so looking to clear that and move bank next month. Anyone recommend a good bank to change to? One preferably that gives decent arranged overdraft fees and doesnt require you to pay in a certain amount per month.

cimt · 18-01-2012, 19:26

I was with Santander for nearly 6 years and I was never charged for an overdraft. Glad I moved to a new bank because I lived in my overdraft when I was with them. I moved to Barclay's which has been great so far but I'm not sure what it's like for overdraft fees because they won't give me an overdraft till I get a job.

djstevie · 18-01-2012, 19:40

I genuinely never had ANY issue when it was Alliance and Leicester but since Santander took over they seem hellbent on making as much money as they can from each customer. Suppose they have to do something to fund them big bonuses they pay their shareholders. I've made my mind up to move but its who to move to is the question. Read online that First Direct are good but i dont fancy paying them £10 a month just to bank with them!!

**Stuart** · 18-01-2012, 20:56

Someone has to pay for the banks they keep buying..

Pierre · 18-01-2012, 21:39

Don't like it? Change your bank.

djstevie · 18-01-2012, 21:43

Quote:

Originally Posted by Pierre

Don't like it? Change your bank.

Thats what im going to do but who to is what im unsure of.

tucker61 · 18-01-2012, 21:59

I have just moved from Santander to first direct.
If you pay In more than 1500 per month they give you £125 after 90 days.
First £250 overdraft is free.

djstevie · 18-01-2012, 22:08

Unfortunately i dont pay in anywhere near £1500 per month. Had a look at a few banks websites earlier and most seem to have a minimum pay in. I roughly only pay in approx £800 a month and most have a minimum pay in of £1000. Smile banking sounded decent. Anyone any experience with them?

Cobbydaler · 18-01-2012, 22:08

Quote:

Originally Posted by djstevie

I genuinely never had ANY issue when it was Alliance and Leicester but since Santander took over they seem hellbent on making as much money as they can from each customer. Suppose they have to do something to fund them big bonuses they pay their shareholders. I've made my mind up to move but its who to move to is the question. Read online that First Direct are good but i dont fancy paying them £10 a month just to bank with them!!

No charge with First Direct if you pay in more than £1500 per month.

Osem · 19-01-2012, 08:05

Quote:

Originally Posted by djstevie

Received a letter from Santander today saying that they are increasing my arranged overdraft fee from 50p a day to £1 a day up to a maximum of 20 days.

When it was Alliance and Leicester it was a flat £5 fee per month then less than a year ago when Santander took over my account it went to 50p a day up to a maximum of £10 a month. Now less than a year later they are doubling it again.

Time to vote with my feet methinks. Im only into my overdraft by £8 this month so looking to clear that and move bank next month. Anyone recommend a good bank to change to? One preferably that gives decent arranged overdraft fees and doesnt require you to pay in a certain amount per month.

Have a look here:

http://www.moneysavingexpert.com/ban...-bank-accounts

**Maggy J** · 19-01-2012, 10:43

I like Nationwide myself.Good service,very helpful staff and never had a problem with them.

djstevie · 19-01-2012, 18:21

Thanks all for the replies and many thanks to Osem for the easy to follow link.

Osem · 19-01-2012, 19:01

You're welcome!

roger skillin · 19-01-2012, 19:29

Just an idea but if you're going overdrawn then A. you're not earning enough for the way you're trying to live and B.you're spending too much.
(this is not against the op, just a general opinion on overdrafts, i just know how some people can react lol)

Osem · 19-01-2012, 19:43

Quote:

Originally Posted by roger skillin

Just an idea but if you're going overdrawn then A. you're not earning enough for the way you're trying to live and B.you're spending too much.
(this is not against the op, just a general opinion on overdrafts, i just know how some people can react lol)

I wish the last government had understood that...