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£100 for switching your account to abbey

£0.00 @ Santander
From 17 November abbey are launching a new account which gives new customers, who switch to Abbey, £100. This account is being launched as part of the November Banking campaign, and will be on sale fr…
dr_badbeats Avatar
8y, 4m agoFound 8 years, 4 months ago
From 17 November abbey are launching a new account which gives new customers, who switch to Abbey, £100. This account is being launched as part of the November Banking campaign, and will be on sale from 17 November 2008 until 15 December 2008.
The customer must have switched their main income and direct debits to the £100 Bank Account using the Account Transfer Service

To receive the £100 the customer must make three monthly credits of at least £1,000 within the first 6 months of opening the account

key points
£100 for customers who are switching
12.9% AER Advance Overdraft Rate
0.1% In-Credit Rate
Opening in branch, telephone or online.
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dr_badbeats Avatar
8y, 4m agoFound 8 years, 4 months ago
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#1
Aren't Abbey supposed to have terrible customer service? I am forever seeing them mentioned in the financial pages (where a newspaper steps in to sort out money problems for people).
#2
Abbey = poor customer service. Go to First Direct instead - brilliant customer service, and they give you £100 to join (and another £100 if you decide to leave). Magic. I moved from HSBC after 30 years with the bank - best move I ever made (the 2 banks share the same parent company, but the customer service at FD is so much better).
#3
Been with Abbey for years now after Natwest were really horrible to me. Never had any problems with them. Having said that, I've never had much need to use their Customer Services apart from general enquiries and issues.

[Personally found the Coventy the most accomodating though - went in 20 mins before closing for Xmas one year after I found that 2 grand had been scammed from my account. They were fantastic - really sympathetic, reassurring and made sure I got the money back and sorted asap.]
#4
Will definately give this a shot I think.... then maybe switch to FD after that....

If this is how banks spend all of the money that the government gave them from our taxes, then I better claim my donation back.....

Rant over! :oops:

Great deal BTW OP, H&R added
#5
mrcoxexcel
Abbey = poor customer service. Go to First Direct instead - brilliant customer service, and they give you £100 to join (and another £100 if you decide to leave). Magic. I moved from HSBC after 30 years with the bank - best move I ever made (the 2 banks share the same parent company, but the customer service at FD is so much better).


Abbey had offered excellent service, the "Abbey Habit" slogan when they were a building soc. Then de-mutualisation was forced on them by Thatcher's monetary policy. In order to become a "bank" they had to seek funding and investment in the global financial markets just like the big banks as they could not get enough mortgage through savers investment only. One of their worst disasters was financing Enron using bonds as the sales bonus for the Chief Exec.. blah blah.. http://business.scotsman.com/wallstreetfraud/Abbey-takes-hit-on-US.2304505.jp
All toll , Abbey lost about $1billion. The impact was that the strategy before the $1billion loss they left their customer services behind for the more lucrative US market with more risky ventures which would return great profits and bonuses. After the $1billion loss they had to drastically cut back their customer services to save costs and they became less competitive. These are the reasons why Abbey's service is so poor compared with before. However since rescued by a foreign bank (Santander) they are now getting better in customer services and with Santander at the helm, profitable, additional investments are underway to increase customer services and hence market share with UK personal savers and cheque accounts.. With the risky international venture overseas curtailed (inter-banking lending stalled anyway) the good old "bread and butter" boring low profit UK home business is suddenly attractive in the absence of any other lucrative high bonus overseas business. The good news about Abbey's owner http://www.yorkshirepost.co.uk/businessnews/Finance-crisis-sends-savers-running.4639445.jp

In conclusion the building societies started in the Victorian era which in generations evolved into Halifax, Woolwich, Abbey, Bradford and Bingley, Nationwide in huge number of branches with society members , ...in effect the British boardroom bosses through their investment strategies have collectively wiped out over 100 years of accummulated ownership and wealth accrued since the Victoria days. All the wealth created by your forebearers had vapourised into thin air. Now much of the high street building soc have vanished (Woolwich) , subsumed and lost (e.g. HBOS) or in foreign control (Abbey and Alliance and Leicester). The net effect of de-mutualisation was to create lots of shareholders earning dividends as opposed to members shares of the wealth but for most cases have ended in nothing or little now (e.g. Northen Rock, Bradford and Bingley etc.... long list). This was the result of de-mutualisation...hooray to Nationwide... keep it up! Everyone move to Nationwide ...etc..to keep going this 100 year+ proven to work way of building societies as an alternative to safe investment.
#6
where did you get this deal from, i cant find any reference to it anywhere
#7
rockrat
where did you get this deal from, i cant find any reference to it anywhere


it says in the op that it starts on the 17th november!
[mod]#8
was with ABBEY NEVER NEVER again there customer service is terrible!
#9
goonertillidie
was with ABBEY NEVER NEVER again there customer service is terrible!


Abbey as it was no longer exist. It had been wiped out.. Now it is re-born again from Santander it is Spanish way of prudent fianance and longevity as opposed to a fast buck bonus incentive scheme.
#10
I wonder if they will let me change from A&L as there all under the same roof now.

Does anybody know if it excludes the other Santander group of banks?
#11
:thinking:[QUOTE
Thank you for the monetary lecture. Hope we don't get stuck in a lift at any time

=splender;3464219]Abbey had offered excellent service, the "Abbey Habit" slogan when they were a building soc. Then de-mutualisation was forced on them by Thatcher's monetary policy. In order to become a "bank" they had to seek funding and investment in the global financial markets just like the big banks as they could not get enough mortgage through savers investment only. One of their worst disasters was financing Enron using bonds as the sales bonus for the Chief Exec.. blah blah.. http://business.scotsman.com/wallstreetfraud/Abbey-takes-hit-on-US.2304505.jp
All toll , Abbey lost about $1billion. The impact was that the strategy before the $1billion loss they left their customer services behind for the more lucrative US market with more risky ventures which would return great profits and bonuses. After the $1billion loss they had to drastically cut back their customer services to save costs and they became less competitive. These are the reasons why Abbey's service is so poor compared with before. However since rescued by a foreign bank (Santander) they are now getting better in customer services and with Santander at the helm, profitable, additional investments are underway to increase customer services and hence market share with UK personal savers and cheque accounts.. With the risky international venture overseas curtailed (inter-banking lending stalled anyway) the good old "bread and butter" boring low profit UK home business is suddenly attractive in the absence of any other lucrative high bonus overseas business. The good news about Abbey's owner http://www.yorkshirepost.co.uk/businessnews/Finance-crisis-sends-savers-running.4639445.jp

In conclusion the building societies started in the Victorian era which in generations evolved into Halifax, Woolwich, Abbey, Bradford and Bingley, Nationwide in huge number of branches with society members , ...in effect the British boardroom bosses through their investment strategies have collectively wiped out over 100 years of accummulated ownership and wealth accrued since the Victoria days. All the wealth created by your forebearers had vapourised into thin air. Now much of the high street building soc have vanished (Woolwich) , subsumed and lost (e.g. HBOS) or in foreign control (Abbey and Alliance and Leicester). The net effect of de-mutualisation was to create lots of shareholders earning dividends as opposed to members shares of the wealth but for most cases have ended in nothing or little now (e.g. Northen Rock, Bradford and Bingley etc.... long list). This was the result of de-mutualisation...hooray to Nationwide... keep it up! Everyone move to Nationwide ...etc..to keep going this 100 year+ proven to work way of building societies as an alternative to safe investment.[/QUOTE]
#12
[QUOTE=jamesfitzpatrick]:thinking:[QUOTE
Thank you for the monetary lecture. Hope we don't get stuck in a lift at any time

There is no need to re- broadcast my message again. Once is enough, thank you.
#13
They must be loosing loads of customers ,a blooming awfull bank . I recently mentioned recently on a another post a friend at work who banked with Abbey had 2 payments made out of her bank acount to a total stranger in Spain . The total amount was for £4500 . It took Abbey 4 weeks to get her money back and recieved absolutely no apology or statement of how it had happened . She has since changed her bank .
#14
Good deal, but I would never go back to them again. I was with them for years but they went downhill with their CS & inability to tell the difference between credit & debit!
#15
Not a great account but £100 is £100! May give it a go.
#16
masterruckus
it says in the op that it starts on the 17th november!


yes, i read that obviously...... the question was where did the OP get the info from prior to the launch date.
the question still stands

thanks
#17
Not only is Abbey the worst bank in the UK, Santander is also the worst bank in Spain, I speak from experience.
#18
don't know if i'm the odd one out, but i've been banking with the abbey via a biz account and my own personal mortgage for a good 3yrs

i've been very happy with their service so far, the instore reps were some of the best i've ever dealt with but that's bound to vary with every branch.
#19
I applied for an Abbey credit card after they offered me £100 to open one. They wrote back saying I had changed addresses so could I send proof of address to them or take proof to my local Abbey. I took ID down and they said they would send it off. I heard nothing. I wrote an email and asked what was happening. They wrote back and said that they did not have my application (despite the fact they must have had to ask me for proof of ID) and I could apply again. I said I would not do this as if they could not look after an application form then what chance had they of looking after my money. I cancelled all my accounts with them - which took some doing - especially trying to get tax certificates which took several calls after not receiving anything after the local branch said they would order them. Several months later Abbey wrote to me and said my application for a credit card had been unsuccessful. What a shambles that place is.

I have an account with Alliance and am concerned about that now that Santander (Abbey) have taken it over. Nationwide still give me the best high street customer service.

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