Should I open a business account with Sandander?

Should I open a business account with Sandander?

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I want to open a bank account for my new e-commerce startup venture. I am considering Santander - if only because I have used all the others at one time or another. Any advice yes or no?

Thanks 

Replies (16)

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By User deleted
05th Jun 2013 11:48

NO

From personal experience I would never ever open anything with Santander

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By mrme89
05th Jun 2013 11:57

No business banking experience but I have recently closed my personal account with them. The customer service is non-existent.

We use NatWest at work and am happy with the online banking and overall service we receive.

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By Sarah P
05th Jun 2013 12:30

We use Santander

I went to them because they offered free business banking at the time.

I've had no need for customer service so I can't comment on that.

Online banking goes down at time which can be frustrating.

Never felt a need to leave them though.

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By Pozzer6
05th Jun 2013 13:24

Santander

I have had my business account with Santander since falling out with Barclays on charges 8 years ago. Touch wood, its been a very good experience to date including the helpline where the staff are helpful. I recall the online system going down maybe once or twice but then every system goes down occasionally!

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By Kings.Brads
05th Jun 2013 13:34

Good

Via Abbey I have used Santander business banking for 10 years and via A&L I have used personal banking for 8 years, and had an A&L mortgage for 7 years, just switched to 123 personal bank account and credit card.

Probably fair to say they provide less services than your main four branch banks, but I don't need to see people to do my banking or need loans.  I am happy with the hole in the wall, internet banking and occasionally calling the call centre (eg when I have fraud on my account).

Overall I don't understand the negative comments/ratings about Santander and they in my experience they score as good as any bank I have used (includes Barclays, Midland, Halifax, NatWest). Over the years they have been a lot cheaper, paid better interest than the main four banks and not tried to sell me stuff I don't need and don't want. The only negative is that I think they still take a day longer to clear cheques, but I can easily live with that.

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Glenn Martin
By Glenn Martin
05th Jun 2013 13:40

Depends on what your after.

Santander are agressivly buying up business and doing very good deals to get clients.

Cheap loans, £100 to open a personal account etc.

The day to day stuff is not ideal though. They have to use the Post Office network for banking, any chqs you bank are posted by the post office to a processing centre at bootle (many go missing and sometimes dont show up for a month). This is also not ideal if you require change for till floats/cash businesses as the Post Office struggle to cope with your requirements unless they have days notice.

The BACS payment software is provided by a 3rd party provider (expensive per year) so if there is a problem they blame each other.

so unless you need to borrow some cheap money Santander not really for you as the day to day stuff will drive you mad.

 

Personally unless you have a good relationship with a particular bank manager if you just want a standard banking arrangement with limited personal contact just go to Barclays or Lloyds as they do what it is says on the tin.

I also understand HSBC offer accountants £50 for any referral they send over and are IMO a decent bank to deal with.

 

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Replying to Tax Dragon:
By Mano Manoharan
05th Jun 2013 14:07

if not Santander then HSBC

Yes maybe HSBC then...

i like the ads (albeit patronising)

and i already bank with Barclays. Plus bad experiences with others...

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By wilcoskip
05th Jun 2013 13:40

Good experience

I've been with Santander for over a year now.  During that time I've experienced very good customer service, including prompt action when it appears that my business card was cloned.

In fact the only problem I've had was due to an overactive security check at Santander, where they blocked my account the first time I tried to pay my salary/dividend across to my personal account.  A couple of phone calls sorted that out within 2 days.  The first time I paid cheques in, the clearing times were also slightly longer than they should have been, but again that was sorted out with a quick phone call.

I'd heard a few horror stories about Santander after I opened my account, and wondered if I'd regret it, but they've been the equal of any other bank I've dealt with.

WS.

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By User deleted
05th Jun 2013 14:39

As a patriot ...

... no way Jose!

I would rather fatten the British cats.

I am in the process of ending my inadvertent association (via Alliance and Leicester).

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Replying to djames:
By Mano Manoharan
05th Jun 2013 14:46

what went wrong?

do tell OGA

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Replying to lionofludesch:
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By User deleted
05th Jun 2013 21:45

As I said ...

Mano Manoharan wrote:

do tell OGA

..  I don't want to be ripped off by a Spanish bank, I'd rather be ripped off by a British one!

But, Santander chop and change rates and accounts and you find your ISA has been at 0.01% for months, call me old fashioned, but for me an ISA is a long term thing I don't want to have to be constantly monitoring and switching between accounts in the same bank!

 

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By mikeyban
05th Jun 2013 18:16

Switched from Barclays and been terrific.

Call centre in Scotland and very good service.

E banking great. Will agree security possibly a little over the top but overall very pleased.

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By Andrew288
06th Jun 2013 22:07

10 years
With Abbey/Santander. Two minor errors, no major. All done online/post so not allowed access in branch. This includes no paying in over counter by clients which puzzles them a bit. No charges no marketing calls no regrets.

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Sarah Douglas - HouseTree Business Ltd
By sarah douglas
07th Jun 2013 00:28

with Santander/ abbey since 2001

Hi 

I have been really happy with this bank and best of all have I have never paid any bank charges.  Ideal for our type of business.

Also they never try to sell me things.  Customer service is excellent and I have never experienced my account offline.

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By Work Clever
07th Jun 2013 12:05

Not with a barge pole

If you value branch and internet services then I wouldn't touch them. I've never used them for business banking but I have clients who have, usually for short periods before moving on. One of the quotes I've heard numerous times is about depositing funds into the accounts which you can't do at all branches so either have to go to another main branch (even though you set the account up in the branch you tried to deposit funds into) or use a Post Office. I find this concept ludicrous.

Their internet banking also seems clunky and outdated. On a personal experience they changed the log on method including security codes for checking your credit card account. It would have been nice if they had informed me they were doing so before spending a frustrating age calling them to sort it and get new codes sent out so I could use it again.

On a plus note their telephone staff are very helpful and put some other banks to shame.

I prefer HSBC and recommend them to clients regardless of the £50 commission they offer for referrals.   

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Sarah Douglas - HouseTree Business Ltd
By sarah douglas
07th Jun 2013 13:52

internet banking

No rbs business internet banking is the worst. Now that is clunky.  I deal with clients online statements and banking all the time and none of them or better or worse except RBS.  If you are in our line of business then it is perfect .  If someone does give me a cheque which is very rare.  I just post it to the branch.

I have had no business bank charges for 13 years. 

 

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