Lloyds mandate all new employed staff need a LBG account and to be paid into it before you could start.
Then just change your bank details once you’ve started. Weird setup.
They did the same years back when they took over Abbey who had free business accounts for life. Despite being for life they introduced charges. At that time I moved my account but they sent me and others £200 compensation for reneging on the free for life promise. They don’t learn as it seems like they’re doing it again. No such thing as a free lunch.
People have said Santander’s defence is that there was a change in their T and C’s in 2015 or something allowing them to do this. There must be a reason why they are trying to do this again
This is what they are saying:
Santander told the Guardian that accounts that predated the 2008 merger of Abbey and Alliance & Leicester were migrated into its Business Every Day account in 2015 and that the terms and conditions of that contract did not include the free for ever promise.
Wonder if any business account users bothered to read those terms and conditions
It seems the terms and conditions said users can be moved to a different account. Now the argument is whether the promise of free banking forever applied to a specific account or if it was too general to do so.
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Pretty sure if a formal complaint was raised for those on the free forever account, they’d win, unless there were terms in which worded in a way allowed Santander to charge later down the line.
I just wonder why Santander is trying this again if they don’t think something has changed for them to succeed this time.
They’re probably just hoping time and inertia will mean most people will just suck it up.
They’ll get a few complaints - and will probably pay them off but in the long term it removes a potential (permanent) issue with a specific account.
I’m assuming this specific account has not been available to new customers for over a decade so they may not have many businesses still on it anyway.
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There might not be many businesses left with the free accounts, but they are a very vocal minority who aren’t taking the matter lying down. There are already 22 pages about it over on MSE.
New Edge credit card customers now only get 1% cashback, capped at £10 a month and fee increased to £4.
I was literally thinking about switching and getting this, definitely not now 
.
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What is their problem? Like make your product simple. Or just stop making everything worse
The Edge credit card used to be a pretty decent deal, I’m 6 months in with it and was planning to cancel after 12 as the 1% cashback wasn’t worth it even when capped at £15 and only £3 a month. I guess apart from Chase there aren’t that many cashback cards offering 1% or over though
So basically going forward it’s now £1000 spend minus the £4 fee for £72 a year.
Apparently existing customers keep the old terms for now, but how long for?
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Santander has updated the app. Nothing too major. Products and offers has replaced my money manager on the home screen. The balance widget has also returned!
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There’s also “energy switch” and “my first home” which I’ve not noticed before in the more options part of the home menu.
The only thing that I don’t like about the update is the fact two of the icons on the home screen are green now. Very minor but it just doesn’t look right