Bank Account - general

Bank account – general

What does 'FREE' day-to-day banking really mean?

Is there a monthly fee?

What are your rates and charges?

How can I increase/decrease my business overdraft?

Will I be charged if I exceed my overdraft limit?

Will cheques be honoured if I exceed my overdraft limit?

How do I access my account?

How do I transfer money from one Santander account to another?

How do I set up direct debits and standing orders?

How do I make BACS and CHAPS payments?

How do I order cheque books and paying in books?

How long will it take for a cheque to clear?

How and when will I receive statements?

How do I get a backdated statement?

How do I get additional operator cards?

How do I close an account?

What does 'FREE' day-to-day banking really mean?

Free banking means you can pay in up to 100 cheques and £3000 cash via ATM, and make 100 withdrawals via ATM and cheque each month, without charge. There is no minimum balance or monthly standing charge for direct debits, standing orders, bill payments or BACS credits. The charges that apply when you exceed these limits and non-standard charges can be found listed in our rates and charges.

Is there a monthly fee?

No, we don’t charge a penny.

What are your rates and charges?

All of these details can be found listed in our rates and charges.

How can I increase/decrease my business overdraft?

To discuss your overdraft requirements please call 0845 607 0666 (open 8am-9pm Mon-Fri,8am-1pm Sat).

Will I be charged if I exceed my overdraft limit?

Yes, you will be charged. You can find full details in our rates and charges. If you think you may exceed your limit, please call us on 0845 607 0666 and we will discuss how we can help.

Will cheques be honoured if I exceed my overdraft limit?

If you’re concerned about exceeding your overdraft, please call us on 0845 607 0666 and we’ll see how we can help.

How do I access my account?

You can access your account online, by calling us on 0845 607 0666. To service your account select option 1. For a status update on a new application you’ve made select option 2 (open 8am-9pm Mon-Fri, 8am-1pm Sat) or by writing to us at Santander Business Banking Centre, 301 St Vincent, Glasgow, G2 5NT.

How do I transfer money from one Santander account to another?

If your accounts are linked you can transfer money almost instantly, just call us on 0845 607 0666 or use our online banking services.

How do I set up direct debits and standing orders?

You can arrange a direct debit by filling in a form with your supplier.

You can set standing orders up online or by calling us on 0845 607 0666.

How do I make BACS and CHAPS payments?

To make a BACS or CHAPS payment, please call 0845 607 0666 (open 8am-9pm Mon-Fri, 8am-1pm Sat).

How do I order cheque books and paying in books?

You can order them by calling us on 0845 607 0666 (open 8am-9pm Mon-Fri, 8am-1pm Sat) or you can write to us at Santander Business Banking Centre, Bridle Road, Bootle, L30 4GB.

How long will it take for a cheque to clear?

Cheques deposited to an account can take up to six working days to clear (see note 1). The tables below show when your money will be available to you to withdraw and when you can be certain the money is yours, depending on which type of account you have (see note 2).

The ‘Day Santander allows you to withdraw your money’ column refers to the day on which Santander will allow you to withdraw the money from your account, however the cheque could still bounce during this time and if it does, Santander can take the funds back from your account without seeking your agreement, even if you have drawn against those funds.

The ‘Day you can be sure the money is yours’ column, refers to the day you can be certain that if the cheque bounces, Santander cannot take the funds back from your account, even if you have drawn against those funds – unless you were a knowing party to fraud.

Business Banking and Savings Accounts

Business Direct Saver and Business Reward Saver

Business customers can pay cheques in at Santander cash machines or by posting cheques to our cheque processing centre.

Cheques paid in using a cash machine

If you pay your cheque in using a cash machine, this will add time onto when you are able to withdraw the money and when you can be sure the money is yours.

For all Business Banking and Savings accounts this will add one extra day.

For all interest bearing accounts, interest will continue to be earned as per the tables above.

Note 1: Working days exclude Saturdays, Sundays and Bank Holidays with one exception – if a cheque is paid into your account on a Thursday, interest will begin to be earned from Saturday. Saturday is not included in any other calculation.

Note 2: Cheques may take up to six working days to clear, however the ‘Day Santander allows you to withdraw your money’ column in the tables above show how soon we are currently making money available for withdrawal.

Note 3: From time to time we identify cheque deposits which have a higher chance of being returned unpaid. In these circumstances we may extend the period when we would normally allow you to draw against your cheque deposit to six days (i.e. to the ‘Day you can be sure the money is yours’ column).

Note 4: Please allow an extra day for personal Bank accounts, Basic Bank accounts and Business Banking and Savings accounts and an extra two days for personal Savings accounts where you have paid your cheque in via the ATM.

How and when will I receive statements?

You can view your statements online and we’ll send you monthly updates in the post.

How do I get a backdated statement?

You can view statements from the past year online or you can request copies by calling 0845 607 0666 (open 8am-9pm Mon-Fri, 8am-1pm Sat). A charge applies for duplicate statements – please see Rates and Charges

How do I get additional operator cards?

How do I close an account?

To close your account, please write to Santander Business Banking Centre, Bridle Road, Bootle, L30 4GB. Please make sure you enclose:

• Your address
• Telephone number
• The number of the account you wish to close
• Instructions of repayment of any credit balance still on the account – such as by cheque or transfer to another account
• Any cards held on the account – please cut these in half for security purposes
• Any cheque books held on the account

I have multiple signatories on my account; do we all have to sign to close the account?

It depends on the setup of your account, however it is recommended that all signatories do sign so all parties are clear that the account is being closed. If you personally have full access then you do not need other signatories to sign (having a Visa Debit Card is a sign of this). Generally all sole traders have full access and have no need for their book keepers and secretaries to sign. Charities will always need a minimum of 2 signatories to sign on any instruction, including switchers and closures. For partnerships and limited companies, it is advisable that all signatories sign the closure instruction, however if one signatory signs who has full access then the closure will be accepted.

I keep phoning in, but why is my closure never actioned?

Telephone instructions are not acceptable for closing accounts. A written request is essential.

My partner has died, what do I need to close and how long will it take?

It depends on what type of account this is. Mainly a Grant of Probate or a Small Estates Indemnity form is required. However, if it is a limited company or partnership then you will be contacted over what more is required of you. Please call us on 0845 607 0666 if you would like any further information at this stage.

I want to close my account but Santander says my business is dissolved, what can I do?

You will have to contact the Treasury Solicitor www.tsol.gov.uk

My account is overdrawn due to service charges, but I want to close the account.

The balance will need to be cleared before the account can be closed. If you would like to discuss these charges, please call us on 0845 607 0666.

My account is overdrawn can I close my account?

You will have to pay the negative balance and send in a letter requesting closure.

These products are available to businesses with a turnover of £1 million or less