Santanger is a major change in their banking services this spring, and experts say it is bad news for customers.
The bank, which has 14 million customers in the UK, is abolishing a text warning service that allows users to inform when certain things happen in your account.
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Bank abolishes its text warning service
Currently you can set free warnings about the text of IE for various updates, such as your weekly balance or whenever large withdrawal are executed.
Customers can alert through internet banking, in a branch or over the phone.
Most major banks of High Street offer this service, including Natwide, Natwest, Lloyds Banking Group and Barclays.
But since May, the customers of Santander who set these warnings will no longer receive them.
Consumer experts marked the move “bad thing” for the guards.
It comes as part of the bank pushing to use their customers their app and network banking services.
The bank said, “We are doing this because you can overview the activity of your account with mobile or online banking.”
In total, the bank abolishes five warning services for customers, the Sun found out.
They include warnings for:
- When a deposit is made for more than a specified amount
- When withdraws for more than a specified amount
- Weekly balance and transaction rounding
- When a customer balance reaches a specific limit
- When the customer’s balance sheet falls below a particular limit
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It will not stop sending warnings that it is necessary to send according to regulatory rules, such as activities that could lead to the start of the account costs.
This could include when someone’s balance is close to their limitation of exceeding or if they enter into a moody overdue.
Banks are regulated by the city supervisor, the authority for financial behavior, as well as the predictive regulatory body, which means that they must adhere to certain rules to protect customers.
Santander recently wrote to his customers to inform them of change, which will take effect from May 12th.
Santa spokesman said The Sun: “We wrote to customers to advise that from May 12, 2025. We will remove five warnings from our warning service from our warning service.
“These specific warnings have been erected by pre-mobile banking and customers can now get a more accurate account of their account movements through mobile, internet or telephone banking or by push notification.
“We will still send warnings about regulatory text messages as usual, including the information of customers of any account activity that could lead to additional costs.”
It is understood that 90% of customers who use a warning have been abolished on network or banking based on applications, which means that 10% can not digitally view this information digitally.
Although the bank says that customers will be able to get this information online, experts are worried that warning removal may mean that they are disappearing in their account.
Consumer’s rights expert Martyn James said: “By closing banking networks, it is more important than ever before banks and financial institutions ensure that we know about important things that affect our money.
“The text warnings are vital because people actually read and act on them. We forget to check our online accounts – or we go to denial of them – and most people do not read their applications.
“So this decision can only be a bad thing for consumers and I hope it is reverse.”
How to check your activity in the future
Customers of Santander who relying on these warnings will have to control their accounts in the future.
If you have not already, the application of the application is appropriate to check the Salda Bank Salda and all recent movement transactions.
You can also log into your bank account online, but be sure to do this in a safe environment – it is best to avoid public computers and networks if possible.
However, if you want to continue to rely on the text warnings, it could be worth switching to another bank.
Most major banks of high street offer free warning service about IE text. Check out with a bank before switching to make sure it offers what you need.
Some banks currently have monetary incentives to move on to them. For example, First Direct offers up to £ 175 to move to your current account, while by March 6 you can still reach a 150 -pound contract at CO OP BANK.
How can I transfer bank accounts?
Transfer of bank accounts is an easy procedure and it can usually be done through the current account switch service (CASS).
Dozens of tall street banks and construction companies have been reported – there is a complete list on the Cass website.
Under the service of switching, bank replacement should take seven working days.
You do not have to remember that you are moving direct debt during movement, because it is done for you.
All you have to do is apply for a new account you want, and Nova banka will tell your existing one.
You can do a few things before switching, including selecting the transfer date and transferring all old bank statements to your new account.
You should get in touch with the existing bank for all old statements.
When transferring current accounts, think which other perkes could come with joining a particular bank or construction company.
Some banks offer 0% of exceeding to a certain limit, and others can offer better rates in savings accounts.
And some banks offer free trips or mobile phone insurance with your current accounts – but these accounts could come with a monthly fee.
Do you have a problem with money to be sorted? Contact the money at the money at [email protected].
In addition, you can join our Facebook Sun Facebook group and tips to share your tips and stories
Categories: Optical Illusion
Source: HIS Education