Iain Lyall, Glan Conwy General Stores, has been banking with Santander (in effect) for nearly 25 years, beginning with Girobank, which became Alliance & Leicester, before morphing into Santander. He is therefore feeling abused by the new ‘Everyday Account’ foisted upon him.

He says: “The costs in many cases have doubled in that any cash banked over £3,000 in a month is now charged at £1 per £100, where it was previously 50p for the same. Interest paid, though paltry at 0.10%, will become zero.”

The only item that appeared to reduce is Santander’s annual renewal fee for having an arranged overdraft. But the detail leaves him no better off. It amounted to Iain having to pay five times the rate with Santander refusing to make any pro-rata refund on the eight months charged at the existing account rate (he had just renewed).

I asked Iain whether he would switch banks. He thinks they’re all as bad as each other. What he will do is avoid banking more than £3K a month in cash.

“I have already adapted my weekly cashing-up spreadsheet to show the running total of cash banked for the month to be able to easily monitor it.”

He will also encourage cashback. “And,” he adds, “if paying everything I can in cash still is going to bring the total to over £3,000 per month, there is always the frowned-on option of banking into a personal account and transferring to Santander.”

Anyone know a bank that won’t rob you?