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Banco Santander.


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This Spanish banking group appears, on the surface at least, to be prudently run and with the astute acquisition of Bradford & Bingley and Alliance & Leicester to combine with their Abbey operation they do seem well placed to offer fairly priced banking services without the taint of greed that applies to most UK banks?

 

Does anyone have personal experience of the Abbey / Santander service both at home and abroad that they would be happy to share with us please?

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I am always wary of companies that expand as fast as Santandar has.

 

Abbey have the worst customer service of any of the banks. This is from personal experience when acting as an executor and reading the problems reported in the Saturday Telegraph finance pages.

 

I am still aggrieved that my Bradford & Bingley shares are worthless and that Santandar shareholders may benefit from grabbing them.

 

>:-)

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It is interesting that Abbey consistently over many years has been the worst UK bank for customer service in the Which surveys and yet Cahoot which is their online banking division consistently scores among the best?

Shame the terms and interest rates on Cahoot are nothing like as good as Santander's!

 

I have banked for many years with Smile - internet banking division of the Cooperative Bank - who consistently get very good ratings from Which and they used to be really on the ball with terrific service but over the last couple of years they seem to have tailed off and become much more unhelpful and apathetic not only making errors but not accepting that it has been their error - such as cancelling all dds whilst we were out of the country and then blaming me - until I asked them to show the proof that I cancelled them all!

 

Not that Nationwide are any better and were it not for their cost free overseas use I doubt I would deal with them at all.

 

All I want is a decent reliable banking service like I used to get - am I asking too much?

 

I only went to internet banking due to the poor attitude to service and apathy of both Abbey and Nationwide branch staff.

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Banco Santander is a well run organisation with an excellent credit rating. As for its Abbey and B&B takeovers - from personal and professional experience I found both to be pretty dire.

 

But then the disdain I was treated to in a Spanish branch in Bilbao a couple of years ago took some beating. But everyone said the Spanish tellers are like that to everyone.

 

The reason why Banco Santander is financially strong is because the Spanish regulatory authorities do not allow their banks to loan more than a certain ratio of their assets. So on the face of it - most European banks are not in the poo that our banks are because of dodgy lending.

 

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