It is a shame 1 star is the lowest we can give this shocking bank
It is a shame 1 star is the lowest.
So here is the story, we are a business employing 40 people. We turn over £3million in the hospitality industry. We have zero borrowings and have never been overdrawn or seen a bounced/declined payment and have been in business for close to 12 years. At times we have had substantial sums in our account. It is a pristine account our credit rating is very good.
So we do a transaction with an Indian company for an amount of £2300 to purchase goods for our retail store. We know this company as we met them at a trade show and checked them out, they are bonafide. We also import from other Indian companies and have never had a 'security' issue, we are not idiots.
Santander in their wisdom when they see this Indian transaction block our account.
I would point out this is not the first time they have blocked us out of our bank account.
Now when I say blocked out, this means no access to pay suppliers bills or staff their wages. These same staff will have bills to pay like rent/mortgages/food.
Today we have spent close to 6 hours on the phone to them, even to the point of waiting in a hospital car park where one of the directors was hanging on to them prior to a hospital appointment.
Santander now tells us it will take 48 hours to unlock the account. WTF!
This bank frankly should be closed down or in the very least barred from operating business accounts.
Our account is healthy with a nice balance close to 6 figures. Tomorrow we will seek a new banker, we are utterly sick of their incompetence. And if our account is not unlocked tomorrow we will look at a legal recourse and at the same time report them to the banking ombudsman . They are truly shocking. I am not given to leaving critical reviews like this unless something serious has happened. Every word above is the truth.
My advice to anyone looking for business banking is to take a wide berth from this bunch of cowboys.
As an update. Their issue appears to be 'security concerns' . Now whilst I understand bank fraud, phishing etc is a massive problem out there, this begs the question that their system is not on top of security. We spoke to at least 3 different people as we juggled through hanging on... I mean 6 hours what on earth is going on? Frustratingly the calls drop out and you end up on a 'repeat process' but with a different person. This bank does not appoint a designated 'account manager' , in short they are stuck in the past and by that I mean a 20 year old system as opposed to 40 years old. I have run businesses for over 40 years and remember traditional banking where you developed a relationship with a real time bank manager. Looking at more modern set ups for a ew baking solution now.
Looking at the number of critical reviews it seems to back up my experience.
Santander need to get their act together or they may find themselves in a struggling situation in years to come.
We really do not need this stress.
