The Anonymous Widower

Santander Make A Mistake

Paul Lewis, the BBC’s respected personal finance expert, has just flagged up this story on BBC Breakfast. Although, it’s not a big financial failure like PPI, it could have been inconvenient for some former Abbey customers. This is the first three paragraphs of the story.

Santander, the country’s second biggest mortgage provider, says 30,000 of its customers may be due compensation, after errors made in 2008.

All were former Abbey customers, who were put on standard variable rate (SVR) mortgages after coming off fixed-rate deals.

But they were not told clearly enough that they could have transferred their accounts elsewhere.

He also flagged up that there is no central way to notify customers that there might be a problem with their bank or insurance company’s systems and said there was a business opportunity.

He’s right on that last point!

What is needed is a site, where you register with just e-mail address and short post code, like N14 or IP4. You then enter your bank, insurance company, supermarket, broadband and energy suppliers, phone and mobile companies and perhaps your make of car.

Then when anything turns up like this Santander problem or the Virgin broadband failure, the site would send you an automatic e-mail.

All warnings would of course be available for any registered member to view.

Unlike the price comparison sites, the site would never sell or give your details to any third party.

Paul Lewis said it was a business opportunity!  It certainly is!

April 25, 2013 - Posted by AnonW | Finance, World | Banks, Customer Service, Energy