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Is Santander biting off more than it can chew?
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Mike Kirton
Posted: 04 August 2010 12:48:04(UTC)
#11

Joined: 04/08/2010(UTC)
Posts: 1
Most of the responses to this piece of news have been about the level of service that Santander may or may not offer. My comment is far more fundamental. Are they overstretching themselves? With the Spanish economy being in such a mess what is their level of bad debts? Will they come back to haunt them sooner or later? I ask these questions without any knowledge of Santander's balance sheet, but they are questions to ask. There have been suggestions that they are to raise money on the markets here. Perhaps we will learn more when an offer comes out. I for one would not be subscribing!
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The Accountant
Posted: 04 August 2010 12:49:57(UTC)
#12

Joined: 04/08/2010(UTC)
Posts: 2
I too have joined the stampede to NATWEST. They use the same systems, products and internet banking package as RBS so transferreing should be simple.

No one in their right mind will wait and see as suggested on the RBS website. Once Santander set changeover dates they will be overwealmed by customers transferring out.

I really feel for the RBS staff as they have been sold a Pup.
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stormdog
Posted: 04 August 2010 12:54:51(UTC)
#13

Joined: 04/02/2008(UTC)
Posts: 56
Does this mean that all that is left in RBS is the Natwest, Coutts and Adam & Co?

Goodness me!

The thing about Santander is they are now global, they not so long ago floated off a piece of their S. American holdings for a humongous amount.

What will be the situation for RBS account holders under the deposit protection scheme in event of an unforeseen disaster?

Is Santander involved in the Spanish mortgage business and what is their exposure?

Is Santander one of the European banks who lent so heavily to Eastern Europe, if so how much?

It would be helpful to know the answers.

I am now thinking of moving to the Co-op Bank since I am not sure that Tesco Bank is really up and running as yet.
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ray ramsey
Posted: 04 August 2010 12:56:46(UTC)
#14

Joined: 21/04/2009(UTC)
Posts: 1
Get out quick if you are unlucky enough to bank with one of the 218 RBS branches being bought by Santander.

By the sound of it EVERYONE should avoid Santander like the plague!

I bank with Nationwide and apart from a few niggles , I have to say I have nothing but praise for them. Take the hint folks and fast!
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Anonymous Post
Posted: 04 August 2010 13:14:28(UTC)
#15
Anonymous 3 needed this 'Off the Record'

We are in the process of transferring our accounts from Santander due to the unbelievably bad service we have been experiencing. The past few weeks have been an absolute nightmare and we found that the left hand didn't know what the right hand was doing. On one occasion I was on the phone for hours - yes hours - trying to complete a transaction and on another occasion a similar transaction was completed in minutes because I found someone who knew what he was doing. I feel sorry for all the people who will be tempted by the £100 offer, they don't know what they are letting themselves in for.
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William Jordan
Posted: 04 August 2010 13:28:47(UTC)
#16

Joined: 19/09/2007(UTC)
Posts: 1
Can't help thinking that there's someting odd about Santander. Touch of the Enrons there somewhere - expand madly or blow apart? Presumably its UK operations are covered by a UK banking licence(s), making us taxpayers liable to compensate depositors if things go wrong. Might get interesting.
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Jonas Cord
Posted: 04 August 2010 13:36:40(UTC)
#17

Joined: 10/06/2010(UTC)
Posts: 7
Can only echo the views of all those reporting their bad experiences with Santander.

Their Belfast call-centre is particularly incompetent - spoke to three individuals on the same matter recently and received three different stories.

Their internet banking outfit is little better and often doesn't even reply to secure emails.

There seems no doubt that Santander is growing too big, too fast with little regard for its customers.

I too, am off.
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Anonymous Post
Posted: 04 August 2010 13:38:34(UTC)
#18
Anonymous 4 needed this 'Off the Record'

The problem is that Santander offer some of the most competitive deals on current accounts, ISAs and credit card. I for one take advantage of these offers and have so far been spared most of the bad service. When I did get bad service it was corrected and I was compensated.

I used to work for Santander and can honestly say that the top people do want to see change, problem is there is either no proper training provided or the customer facing people are not bothered! Their systems are far better than most other banks, so I would expect that in time their service issues will be addresses with training in the new system, etc
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colin leaver
Posted: 04 August 2010 13:42:51(UTC)
#19

Joined: 08/03/2010(UTC)
Posts: 1
i backed out of joining these people..........although they have given me major problems with my direct debits

MY ADVICE IS IF IT AINT BROKE............
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James Scott
Posted: 04 August 2010 14:09:30(UTC)
#20

Joined: 27/10/2009(UTC)
Posts: 1
Having seen how bad Abbey was and now as Santander is, I will close my RBS account if they are bought by Santender.
The FSA should prevent this purchase.
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