We are members of the Current Account Switch Service. This means your switch will be completed in seven working days and backed by the Current Account Switch Guarantee1.
|Day 1||Day 2 - Day 6||Day 7 (Switch date) and up to month 13|
• Select and agree a switch date with us; this can be up to 60 days in the future. The switch process will start six working days before that date. (Working days are Monday to Friday excluding bank and public holidays.)
• Tell us how you want to be kept up to date and we’ll keep you informed by text, email or letter as your switch progresses.
• We will contact you by letter to let you know that your switch has started. We can also keep you regularly updated by text message and/or email.
• Pay money into your Santander account, if you wish to start using it straight away.
• We will set up all your standing orders and bill payments on your new account.
• We will arrange for any regular credits to your old account to be credited to your new Santander account.
• You will receive your cards and PINs. If you requested them, you’ll also receive your telephone and online banking credentials.
• Your old account will automatically close.
• On Day 7 we will contact you to let you know that we have completed the switch of your account to Santander.
• Any credit balance from your old account will be transferred to your new Santander current account.
• Any payments being switched from your old account will start coming out from your Santander account from day 8 so make sure you have money in your account to cover them.
• Any payments due before your agreed switch date will still be taken from your old account.
• From your switch date (Day 7), we will automatically redirect any payments made to your old account to your new Santander account. We’ll do this for a period of 13 months.
123 Current Account and Everyday Current Account
If you have switched your main current account to us, you get:
• 0% EAR (variable) Arranged Overdraft. No Arranged Overdraft Usage Fee for the first four months. Then £1 each day capped at 20 days in each monthly statement period.
• In this example, we have assumed the Arranged Overdraft credit limit is £1,200. The actual amount you could get may be different.
If you have not switched your main current account to us, you get:
• 0% EAR (variable) Arranged Overdraft. We charge an Arranged Overdraft Usage Fee of £1 each day capped at 20 days in each monthly statement period.
Current Account Switch Guarantee
We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and hassle-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee:
• The service is free to use and you can choose and agree your switch date with us.
• We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
• If you have money in your old account, we will transfer it to your new account on your switch date.
• For thirteen months, we will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
• If there are any issues in making the switch, we will contact you before your switch date.
• If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.
For more information go to www.simplerworld.co.uk
For full information on the Current Account Switch Guarantee click here.
Before starting your switch, you’ll need to provide us with:
You can provide this information as part of your current account application.
We cannot switch your current account if you have a joint account with your old bank and your new Santander account is a single account. For more information on how joint accounts work, please see the Current Accounts important information document.
It’s important that the details you provide are the same as the ones held at your old bank, so if you need to update names or addresses for example on your old account, it’s best to do this before you start your switch.
Frequently Asked Questions
1. What happens to payments that people send to my old account?
The Current Account Switch Service will redirect payments to your new account for up to 13 months from your switch date.
2. What happens if there is a mistake or unnecessary delay in the current account switching process?
The Current Account Switch Service is backed by the Current Account Switch Guarantee. This guarantees that any charges or interest incurred on your old or new account, as a result of a failure in the switching process will be refunded when you bring this to our attention.
3. Can I switch my current account if I am overdrawn?
Yes, and we may be able to provide facilities to help you pay off any overdraft, subject to our normal lending criteria. If this isn’t the case you must make separate arrangements to repay your old bank or building society what you owe.
4. What happens to any debit card transactions that I have asked my old bank to stop?
The Current Account Switch Service should not interfere with this process and any debit card transactions that you have asked your bank to stop should remain so after your switch.
5. Can I prevent my new account details being given to someone who sends one off payments to my old account?
You may be able to transfer your payments to your new bank without redirecting payments from your old account, and you should discuss this requirement with your new bank.
6. When will I receive any positive balance into my new account?
You will receive any positive balance on Day 7 (your switch completion date). Please be aware that the transfer will take place between 6am and 12noon, so there may be a short amount of time when you may not have funds available to you (unless of course, you have already paid in some money directly into your new Santander current account). The short delay is due to the fact that your funds will leave your old account and transfer to your new one (via Faster Payment) ; but after 12noon at the latest, your money will be cleared and available to use from your Santander current account.
7. What if I wish to cancel my switch?
You can cancel your switch up to seven working days before your switch date. After that only certain elements can be cancelled. Our Dedicated Switcher Team will explain the options available to you depending on what stage your switch is currently at:
Before Day 1 - If you have selected a switch date up to 60 days in the future, we can stop your switch before it has started.
Day 1 to Day 6 – your switch must still complete and your old account will close. We will cancel all redirection of your payments in and out from your switch date.
Day 7 onwards – your switch will have already completed including any balance transfer. We will cancel all further redirection of your payments in and out of your new Santander account. This means if you wish to switch to another current account provider, you will need to instruct them to switch your Santander account to them.
Tips to help make your switch run smoothly –
Choosing your switch date
This is the date that your switch completes (Day7). It’s also the day that your old bank account will close. We will start the process of switching your account to us six working days before your switch date. It is important to get this right and below are some tips to help you.
Avoiding any fees
It is a good idea, if possible, to have enough money in your existing account and your new account to cover your usual payments while we complete your switch to us. We will not charge you any Arranged Overdraft fees for four months from your switch date.
We will do everything we can to make sure that the switch goes as smoothly as possible. It is unlikely that you will have to pay any bank fees as a result of a mistake we make during the switching process. However, if this happens we will refund any fees in full.
Switching to and from a bank or Building Society who are not participants in the Current Account Switch Service.
You can choose to switch to Santander from a Bank or Building Society that is not a participant in the Current Account Switch Service. For any Current Account switch to or from a provider who is not a participant in the Current Account Switch Service or, if you choose not to use the Current Account Switch Service, you can still switch your account but you should consider the following:
For further information on the Current Account Switch Service, visit www.simplerworld.co.uk
Our switcher service is rated 5 Star by Defaqto, an independent financial research company.
Our dedicated switcher team is available to provide help and assistance at any stage throughout the switching process. You can contact the Switcher Team on 0845 609 0010. Lines are open Monday to Friday 8am to 7pm and Saturday 9am to 2pm.
17 Day switch is guaranteed under the Current Account Switch Guarantee when you switch from a bank or building society that is also a member of the Current Account Switch Service. Switch completes in 7 working days.
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