Tag: Santander

Nationwide confirms interest in RBS branches

Nationwide confirms interest in RBS branches

Nationwide Building Society, Britain’s biggest mutual lender, has told Reuters news agency that it is interested in purchasing the portfolio of branches being sold by Royal Bank of Scotland. The acquisition would support Nationwide’s plan to start lending to small and medium-sized enterprises. Speaking to Reuters, Nationwide’s chief executive Graham Beale said: “Strategically we want […]

November 27, 2012 More
RBS initiates talks with Virgin Money over branches

RBS initiates talks with Virgin Money over branches

Royal Bank of Scotland (RBS) is seeking a new buyer for 316 branches after a deal with Santander fell through, and is believed to have approached Virgin Money. RBS is required the sell the branches under the EU conditions attached to the £45 billion bailout it received from the government when it came to the […]

October 17, 2012 More
Mortgage payments rise for Santander customers

Mortgage payments rise for Santander customers

Santander has increased its standard variable rate (SVR) from 4.24 per cent to 4.74 per cent, adding an extra £26 per month to monthly repayments on a £100,000 mortgage. The move, which was announced in August, came into effect today. The increase will affect existing mortgage customers who are on the SVR rate, including customers […]

October 3, 2012 More
One in five people have no savings

One in five people have no savings

New research by Santander has found that eleven million adults in the UK have no savings to fall back on in times of crisis. This equates to one in five adults, and those who are saving, are saving less than they used to, Santander found. Over the past year, the average amount saved each month […]

June 26, 2012 More
Banks to publicise protection schemes for savers

Banks to publicise protection schemes for savers

Banks, building societies and credit unions will have to display information in branches, clearly telling customers how much of their savings are covered by a compensation scheme. Savings in UK banks and some foreign banks are covered by the Financial Services Compensation Scheme (FSCS). The scheme covers savings up to the value of £85,000. It […]

May 28, 2012 More
FSCS reassures Santander customers

FSCS reassures Santander customers

The Financial Services Compensation Scheme (FSCS) will protect depositors in Santander, the scheme’s chief executive, Mark Neale, said. Deposits up to the value of £85,000 are protected by the scheme and savers with more than this amount should distribute the money across different banks and building societies, to ensure that the total amount is protected. […]

May 21, 2012 More
Store-card debt written off

Store-card debt written off

A court ruling writing off a consumer’s £5,126 store-card debt has opened the door for similar cases according to a report by the BBC. Judge Henrietta Manners ruled at Clerkenwell and Shoreditch county court that Santander must write-off the debt on a credit card held by Diana Mayhew. Ms Mayhew’s store card was automatically upgraded […]

April 17, 2012 More
FSA fines Santander £1.5m over compensation scheme

FSA fines Santander £1.5m over compensation scheme

The Financial Services Authority (FSA) has fined Santander £1.5m for failing to explain to customers that some of its investment products were not covered by the Financial Services Compensation Scheme (FSCS). The FSCS is a financial safety net which pays compensation to customers of financial services firms authorised by the FSA, if the firm itself […]

February 20, 2012 More
Brits spend £6 billion of savings on Christmas

Brits spend £6 billion of savings on Christmas

A study by Santander, one of the world’s largest banks, has revealed that people are funding Christmas this year by dipping into their savings. High unemployment, inflation at around 5 per cent and the threat of another recession are all putting pressure on people’s pockets and causing them to use their savings to pay for […]

December 12, 2011 More
Post Office boosts savings products

Post Office boosts savings products

The Post Office has extended its promise to match the Bank of England Base Rate percentage changes on its savings products, until 1 January 2013. The promise, which was originally planned to run until 31 March 2012, covers the Post Office’s Instant Saver, Reward Saver, Cash ISA and Easy Saver accounts. The Post Office has […]

December 6, 2011 More
Santander launches bond for impatient investors

Santander launches bond for impatient investors

Santander has launched an innovative new product which allows customers to receive £1,000 interest almost immediately, on an investment of £12,000. The Upfront Interest Bond has a minimum three-year term and a minimum initial deposit of £10,000 is required. It is only available to Santander current account customers and interest on the bond will be […]

November 23, 2011 More
Santander launches Inflation Linked Savings Bond

Santander launches Inflation Linked Savings Bond

Santander UK has announced a new savings bond designed for people who want to inflation-proof their savings. The six-year Inflation Linked Savings Bond will pay the percentage rise in the Retail Price Index (RPI) when it matures, on top of the saver’s initial deposit. Savers can invest between £500 to £2 million in the bond […]

November 14, 2011 More
Barclays, Lloyds and Santander top FSA complaints list

Barclays, Lloyds and Santander top FSA complaints list

Figures from the Financial Services Authority (FSA) have revealed that the three most complained about British banks are Barclays, Lloyds and Santander. According to the FSA, Barclays received more than a quarter of a million complaints in the first half of 2011. Lloyds received 181,907 complaints in the six month period, while Santander had 168,888 […]

September 28, 2011 More
Santander H1 profits lower on PPI costs

Santander H1 profits lower on PPI costs

Spanish banking giant Santander has today revealed its first half profits were hit by costs relating to its mis-selling of payment protection insurance (PPI). The controversial insurance has been a hot topic for some time now and the Financial Services Authority (FSA) introduced a review of the insurance after millions of policies were mis-sold and […]

July 27, 2011 More
Santander returns call centres to UK from India

Santander returns call centres to UK from India

Spanish banking giant Santander has announced it will return all of its call centres to the UK from India after complaints from its customers. It will create 500 jobs as part of the process and it is the latest in a series of customer service focus initiatives from the bank. Santander has a major UK […]

July 8, 2011 More
Santander reports fall in net profits

Santander reports fall in net profits

Spanish banking giant Santander has today reported a fall in 2010 net profits, due to changes on bad loan provisions. The bank, which is the euro zone’s largest, said net income fell to €2.1 billion from €2.2 billion a year earlier. Before the changes to one-off provisions, which were put in place as a precautionary […]

February 3, 2011 More
Santander admits bank statement error

Santander admits bank statement error

Spanish banking giant Santander has admitted to sending the bank statements of thousands of customers to the wrong addresses following a printing error. The bank, which is now one of the largest on the UK High Street, said current account holders have received the first page of their own statement and pages two and three […]

December 24, 2010 More
Santander’s Horta-Osório appointed as Lloyds new CEO

Santander’s Horta-Osório appointed as Lloyds new CEO

It has been revealed this morning that António Horta-Osório, chief executive of Santander’s UK businesses, will replace Eric Daniels, who is stepping down from Lloyds Banking Group. Fifty-nine-year-old Daniels announced in September that he would be retiring next year. Daniels, who is the longest serving CEO at a major British bank, faced heavy criticism following […]

November 3, 2010 More
Santander hit by bad loan provisions

Santander hit by bad loan provisions

Spanish banking giant, Santander, has today reported a fall in third quarter profits, due to changes on bad loan provisions. The bank, which is the euro zone’s largest, said third quarter profits fell 13% to €2.1 billion (£1.8 billion) as provisions for bad loans hampered results. Before the changes to one-off provisions, which were put […]

October 28, 2010 More