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Just received this in my latest business statement - to take effect from 1st May 2014.

"9 Condition 29 (previously 28) will be amended to read:

29 When we can use money between accounts

29.1 Except in the case of Client Accounts or accounts held in trust, if any money is overdue for payment on any other account you have with us (such as a loan, mortgage, credit card or overdraft) we may take the money you owe us out of your account. We can do this where you have accounts held in your sole name as well as joint accounts you hold with another person.

29.2 We can also apply Condition 29.1 to pay money you owe on other accounts which you hold with any other member of the Santander Group of companies in the UK."

I can see a few arguments caused by this. I may be paranoid but I sense a number of banks positioning themselves.

Also in the same T&C

"33 Dormant accounts

33.1 If you do not make any transactions on your account for one year in the case of current accounts and three years in the case of savings accounts then we may treat your account as being dormant to remove the risk of fraudulent activity. This means that we will stop sending you statements and letters."

Which also means that without any physical reminders - they hope you will forget that you ever had any money with them.

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Just received this in my latest business statement - to take effect from 1st May 2014.

"9 Condition 29 (previously 28) will be amended to read:

29 When we can use money between accounts

29.1 Except in the case of Client Accounts or accounts held in trust, if any money is overdue for payment on any other account you have with us (such as a loan, mortgage, credit card or overdraft) we may take the money you owe us out of your account. We can do this where you have accounts held in your sole name as well as joint accounts you hold with another person.

29.2 We can also apply Condition 29.1 to pay money you owe on other accounts which you hold with any other member of the Santander Group of companies in the UK."

I can see a few arguments caused by this. I may be paranoid but I sense a number of banks positioning themselves.

Also in the same T&C

"33 Dormant accounts

33.1 If you do not make any transactions on your account for one year in the case of current accounts and three years in the case of savings accounts then we may treat your account as being dormant to remove the risk of fraudulent activity. This means that we will stop sending you statements and letters."

Which also means that without any physical reminders - they hope you will forget that you ever had any money with them.

Either, shut the account down or sent them a letter saying you refuse to accept this and will proceed with a legal challenge if they do so.

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That reads as though they can take funds from a business account to pay an overdue personal debt (loan/mortgage/credit card)

Shurely not?

A business is a seperate legal entity isn't it?

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Either, shut the account down or sent them a letter saying you refuse to accept this and will proceed with a legal challenge if they do so.

...or keep credits in one bank and debts at another? :unsure:

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...or keep credits in one bank and debts at another? :unsure:

It's fairly standard stuff, that's why over 25 years ago when starting up was advised to keep business banking separate from. Personal banking

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That reads as though they can take funds from a business account to pay an overdue personal debt (loan/mortgage/credit card)

Shurely not?

A business is a seperate legal entity isn't it?

Thats what I thought, but even more worrying is they can take from other joint accounts!

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It's fairly standard stuff, that's why over 25 years ago when starting up was advised to keep business banking separate from. Personal banking

I assume you mean keep in separate banking group rather then a separate account - even if joint with someone else.

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It's fairly standard stuff, that's why over 25 years ago when starting up was advised to keep business banking separate from. Personal banking

agreed. very common across the board. surprised their existing T&Cs needed updating.

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Barclays were once queen of taking money from one account to pay off anything else you had with them.

And dormant accounts can be got back.

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And dormant accounts can be got back.

You can, but my worry is that all too often you can forget about an old account and its only the yearly letter that reminds you. I recently had to try and establish all the accounts of a relative who had slowly got dementia (not realised by us at the time).

Without the letters, the task would have become increasingly difficult.

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1 in 3 people over 65 has dementia and that cohort is growing.

NOT sending someone a statement on a dormant a/c is almost an invitation for it to be defrauded.

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