That’s only a drop in profits. Not a loss.
38% drop in profits… that means they have 62% of whatever profit they were making before
Doesn’t sound like they’re losing money, why would they disappear?
I don’t think a drop in profits combined with them already saying they’re considering leaving the UK is exactly positive.
I would say it’s probably positive for them sticking around a while longer
I think it’s more of a push towards selling whilst it’s still making money.
New packaged current account from Santander
Seems to be targeted at the Nationwide FlexPlus market.
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Yes, just been offered this. Pretty thin offering for a packaged account. Last time they launched Edge I got a follow up call telling me I’d definitely make money - yes, until like with the 123 account, you massively diluted the offering. I keep the Everyday account open for the free access to Santander ATMs abroad. Something not even the Edge Explorer account has.
Suspect it probably does.
The situation with these cards is that you get fee free shopping but have to pay for (even Santander) ATM withdrawals (2,95% IIRC), whereas you pay 2.95% for transactions with the Everyday account but nothing for withdrawals from a Santander ATM. Which is useful in Spain where non-charging ATMs are rare as hens’ teeth.
Actually, you were right.
Not quite. All the UK Santander accounts are free to use in Santander ATMs everywhere but it takes three days for that to kick in.