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Savings FAQs

UK's Credit Rating?

 

Below are the most commonly asked questions about Savings. Information regarding the changes to Santander's ISA Manager can be found below.

 

 

> How do I check the progress of a recent Savings application?

> How do I pay money into my eSaver?

> What's the interest rate on my account?

> What is an ISA?

> Can I apply for an ISA?

> How much money can I put in my ISA?

> Can I withdraw money from my ISA?

> I have an ISA with another company, how do I transfer it to Santander?

> How is my money protected? - The Financial Services Compensation Scheme

> I've found an old passbook - are any funds left in it?

> How do I get Tax Deduction details?

> Can I open an account with Santander if I'm not resident in the UK?

> How do I find out the rates on a former Bradford & Bingley savings account?

> How do I find out the rates on a former Alliance & Leicester savings account?

> How can I register for gross interest on my savings?

> How do I claim back tax paid on savings that I might be owed?

 

 

Santander ISA Manager 

 

> What is an ISA Manager? 

 

Contact Us

 

If you still can't find the answer you are looking for, you can contact us by telephone or find your nearest Santander branch.

 

For general enquiries, you can also contact us by email. Please remember not to include any account related information for security purposes.

How do I pay money into my eSaver?

There are a number of ways you can pay money into your eSaver:

Online: If you're registered for Online Banking you can easily transfer money in from another linked Santander account using the 'Standing Order' or 'Transfer money between my accounts' functions.

You can also 'Pull money in' from up to three other bank/building society accounts.  This works by taking money from another account by Direct Debit.

If you haven't already done so, these are easy to set up in Online Banking via the 'Payments & Transfers' tab. To up a new payment you'll be sent a One Time Passcode to your nominated mobile.

By phone: You can call us on 0845 609 0014*. We're open Monday to Saturday from 7am to 11pm, and Sundays from 9am to 6pm. to set up a Standing Order or Personal Payment from an account with another bank or building society.

In person:  You can also pay cash or cheques in at a Santander Cash Machine.

By post: Download, complete and return the attached Direct Debit form here

For more information about Online Banking, call us on 0845 600 4388 (open Monday to Saturday from 7am to 11pm, and Sunday from 9am to 6pm), or visit our demo.

What's the interest rate on my account?

Visit our interest rates page or you can call us on 0845 7654321. We are open Monday to Friday from 8am to 9pm and Saturday 8am to 4pm.
 

What is an ISA?

An ISA or Individual Savings Account is a way to save money without paying any income or capital gains tax on the returns you earn. This means that you keep all of the money you receive in an ISA.

Can I apply for an ISA?

You must be aged 16 or over to open a Cash ISA or 18 and over to open a Stocks & Shares ISA. You also have to be resident in the UK for tax purposes (ask your tax office if you are in any doubt about this). You cannot hold an ISA jointly with, or on behalf of, anyone else.

We offer a range of ISAs and some may have additional eligibility criteria. Check our ISA pages.

How much money can I put in my ISA?

For the current tax year, 2014/2015, until 30 June 2014 you will be able to save up to £11,880 in an ISA, of which up to £5,940 can be put into a cash ISA.

From 1 July 2014, the overall ISA subscription limit is increasing to £15,000, which can be paid into a cash ISA, a stocks and shares ISA or a combination of the two. 

Can I withdraw money from my ISA?

All our ISAs allow access to your money but there may be restrictions or charges that vary depending on which ISA it is that you hold.

Be aware that if you take money out, and you wish to put it back later, this will count against your annual ISA allowance for that tax year.  This means that if you have already used up your annual ISA allowance, any money you take out cannot then be put back in during the same tax year.

I have an ISA with another company, how do I transfer it to Santander?

If it's a Cash ISA you want to transfer, simply select 'Transferring to a cash ISA is Easy' to download the Cash ISA transfer in application form. Alternatively, you can request the form via telephone on 0845 600 0181 or in your local Santander branch.  Some of our ISAs may not allow transfers in so please check the terms and conditions.

Once we've received the completed form from you, we'll need to contact your existing provider, so please allow up to 15 days for a Cash ISA transfer to take place, starting from when we have received the transfer form.

How is my money protected? - The Financial Services Compensation Scheme

Santander UK, as with other UK banks is covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors, including most individuals and small businesses, are covered by the scheme.

In respect of deposits, including cash ISAs, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank, including their share of any joint account and not to each separate account.

For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website www.FSCS.org.uk or call the FSCS helpline on 020 7741 4100 or 0800 678 1100.

For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website www.FSCS.org.uk or call the FSCS on 020 7741 4100 or 0800 678 1100. Please note only compensation related queries should be directed to the FSCS.

Santander UK plc is an authorised deposit taker and accepts deposits under the Santander and cahoot trading names. In the unlikely event of a claim, the maximum compensation levels above would apply to the combined total of all deposits held with Santander UK plc (including cahoot).

I've found an old passbook - are any funds left in it?

You can call us on 08459 724 724 between 7am-11pm Monday-Saturday or 8am-10pm Sunday or visit any Santander Branch with identification.

You can find further information on Dormant Accounts here

How do I get Tax Deduction details?

We no longer provide Tax Deduction Certificates automatically. HM Revenue& Customs no longer require individuals to produce a Tax Deduction Certificate when completing their tax return.

You will need to request a Tax Deduction Certificate if you are completing a tax return, the account is receiving interest net of tax and any of your accounts meet either of the following criteria, as they will not show on your Annual Interest Summary:

  • your account was closed during the tax year


and/or

  • your savings account has a balance of less than £500 at the end of the tax year (5th April)


A Tax Deduction Certificate can be obtained by:

Telephone: Call 08459 724 724*. We're open 7am - 11pm Monday to Saturday, 9am - 6pm Sundays.

Can I open an account with Santander if I'm not resident in the UK?

In order to open an account with us, you must be resident in the UK, or have a BFPO (British Forces Post Office) address. To find out more, please call 0845 609 0014. (Dial 00 44 2890 82384 from abroad.) We're open Monday to Friday from 8am to 9pm & Saturday 8am to 4pm.

As part of the Santander Group we're able to offer high quality banking in many countries around the world. Visit www.santanderpb.je to find out more.

How do I find out the rates on a former Bradford & Bingley savings account?

If you hold an online savings account, opened with Bradford and Bingley, you can find rate information here. You can continue to manage your account by visiting https://bbsavings.santander.co.uk/OFIS/login.aspx and logging on using your existing details.

For branch or postal based account, you can find interest rate information here.

How do I find out the rates on a former Alliance & Leicester savings account?

You can find interest rate information here.

How can I register for gross interest on my savings?

If you are eligible for gross interest because you are a non-taxpayer, then registering for gross interest is simple.

Simply speak to a member of staff you can visit your local branch or call us on 0845 609 0014.*

How do I claim back tax paid on savings that I might be owed?

If you are eligible to reclaim tax because you are on a low income, or if you paid tax when you didn’t need to (because you are a non-tax payer), then you can collect and complete a form R40 from you local Tax Office or the HMRC website. Your local Tax Office will then process the claim on your behalf.

For more help, simply speak to a member of staff, you can visit your local branch or call us on 0845 609 00014.

 What is an ISA Manager?

The principal responsibility of the ISA Manager is to administer cash ISAs within the ISA regulations and report details of ISA subscriptions made by customers to HMRC each year so that HMRC can check that individuals do not exceed ISA limits.