Bank scraps paid-for accounts, leaving customers without cover
About 300,000 Santander customers are being shifted from their paid-for current accounts to free ones, and stripped of benefits such as insurance cover, the Guardian reports.
The high street bank has decided to discontinue its paid-for accounts, after ditching new packaged accounts last year.
Five accounts with monthly fees ranging from £10-£20 are affected, and after 19 October account holders will be moved on to Santander’s Everyday current account and will no longer pay a fee.
The changes mean that many people will be forced to find cover elsewhere from 19 October.
Santander said the decision was not because of regulatory changes, adding: “The changes currently being communicated to customers will simplify our current account range, reduce errors and complaints and give a better service to customers.”
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