I met a Santander Business bank manager on friday and they are having a real drive to acquire business customers from other banks by ensuring that all business customers (of any size) get a dedicated and local business relationship manager.
I was quite impressed by this as lots of people I speak to are saying that they no longer have a local contact and get transferred to the other end of the country when they want to speak to their bank.
The other thing they mentioned was a new mobile card collection machine option (it plugs into your mobile phone) for small businesses. There is no monthly cost or tie in, but there is a one-off cost of £ 125 to use the machine and then you only pay per transaction at 2.95%. The % is fairly high but as there is no monthly cost this seemed good to me - especially for new small businesses.
I am waiting for more details on the card machine but will post more information if anybody wants to know more, once received.
For a bank where you get bank statements and still get a business manager who will still be the same person that you talk to next time you go in the bank try NatWest or RBS (same bank, different sides of an invisible border).
I do agree on the issue over being transferred all over the world with some banks. I've been with LlloydsTSB for over thirty years but their not wanting to talk to clients in branch makes me now unable to advise their services to clients and I too have moved my main business account to Nat West.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I would have agreed with you in regards to Santander not being geared towards Small Businesses until Friday. I'm led to believe that they are employing 300 small business manager over the next few years - if they achieve this then I can see them becoming a more natural choice.
As to whether we should be getting our contacts and clients to use a spanish bank, this is a different argument and in honesty I would prefer to use a national bank, but only if they are provided what small business want and need.
I was told that Lloyds have now taken all business managers away from businesses turning over less than £ 125k. This is a huge backward step and I'm baffled why they think that small businesses do not need help - especially in the current economic climate.
Santander have bought my account from RBS (not just mine, a few including mine) and I've just had some information about the transfer. To be honest their service can't be much worse than RBS, it's non existent.
I don't really mind who provides my banking, as long as they keep it free.
And are you happy to have no bank statements not even in PDF format Kris?
I certainly wouldn't be happy to have my bank account sold to another bank and would move to a different bank at my earliest convenience.
Have you thought of bank of Scotland?
Lloyds bought them on the back of their strong competence with business despite their failings over some of their loan book. Of course, now you might as well go to LloydsTSB Scotland.... As an aside, why is it that UK businesses have to put Scotland in their name to get business North of the border where foreign companies make no mention of Scotland in their names?
Its like comparing a universal name such as Santander with LloydsTSB Scotland (or the Scottish versions of the daily Mail and daily express etc.). It's not as though South of the border the names had England in them?
Anyway, going off the beaten path. Until Santander sort out their basics (i.e. bank statements) I would not advise any client of mine to use them. Or maybe they've been listening and it's already sorted.
Is there anyone here who has a business account with Santander that is now happily receiving bank statements?
And before anyone asks why I make such a big thing about bank statements its the fact that self printed statements from the web are not acceptable evidence either in an Audit or HMRC inspection.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Hi Shaun,
It seems RBS have sold many of their England and Wales branches to Santander, and as direct business banking is in England my account goes too. Are you perfectly sure that they don't provide statements? Its just that I have 2 clients with Santander and they both get paper statements posted to them free.
Regars the Scotland I didn't even know LlyodsTSB had Scotland in the name. I don't mind who I buy from as long as they provide me a good service. I guess big business see Scotland as having a stronger national identity and some consultant once told them to pander to our ego, who knows.
Kris
If that's not now the case then I rescind my former reservations about using their service. (You are sure that these are business accounts and not personal accounts being used for business?).
With RBS you would have been on the Natwest system but branded as RBS. I've not worked on their systems for a while and had simply expected the split to be those belonging North of the border simply being transferred back to local branches or RBS Edinburgh.
To me this one seems unfair on Scotland in that if Scottish business is not being transferred North where retail is going back that's a real white elephant of a transfer as there is no real money in individuals, only in business.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Apparently had I been a branch based business account I have stayed, but because I'm on their Direct Business Banking centre I move. It makes no great difference. Robbing the Scots ans always.
Both accounts I spoke about are business banking with Santander, the business manager joined a few of the local business network meetings and thats when my clients moved across. I'm not saying that she didn't give them better services or services that customers don't normally get, but the both get paper statements by post, (pre punched for my convenience) and neither pay a penny for it.
I unreservedly rescind my former comments and will update the other thread to point to this one.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I was just catching up on the posts and came across this one.
Ben, thank you for sharing the information in relation to Santander. Can only be good small businesses. I have been with Santander from day one but to be honest I have not spoken to anyone at Santander on telephone or in branch, so I have not really experienced their service as such. I try to deal with everything online via email so I can keep track of the communication if I ever need to go back to it.
Also, to back up what Kris says, Santander have been providing me with monthly paper statements in the post and the pre-whole punching is an added convenience.
I have recently found that all accounts with our Lloyds branch are going to be transfered to Co-op! Though that is in some doubt now, but our only Lloyds branch is closing. I will move my personal account before that happens!
interesting to know about the card machine - will look into thanks. Ive been with Santander since Alliance & Leicester days - just opened 2nd account with them and to be honest never had an issue in any form. In fact I had to change my name and just walked into local bank with ID and let me straight away - tried the same in Barclays and they asked if I had an appointment booked - haven't bothered going back. I get postal statements for current account and PDF copies from online of my savings account.
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Donna Curling - Complete Book-Keeping Ltd (CBKLtd) - 07939 101900
