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Fair Fees Policy

Santander fair fees policy

We want to be open and fair in how we charge you for using our overdraft services. To help us do this, we work to the following principles.

  • On those occasions where you use an Arranged or Unarranged Overdraft of £12 or less, we will ensure you do not incur any Arranged Overdraft Usage Fees, or Unarranged Overdraft Usage Fees and Paid Transaction Fees when using an Unarranged Overdraft.
    Note: If we decide not to make a Direct Debit, Standing Order or Cheque payment which would take you over your Arranged Overdraft limit or into an Unarranged Overdraft by £12 or less, an Unpaid Transaction Fee may still apply.
     
  • Where overdraft fees are incurred, we will take them from your account 22 days from the end date of the statement in which they are notified. 
     
  • We cap the amount of overdraft fees that can be incurred in any monthly statement period. This includes Arranged Overdraft Usage Fees, Unarranged Overdraft Usage Fees, Paid Transaction Fees and Unpaid Transaction Fees.
     
  • If you plan to use an overdraft regularly on your current account, it will be cheaper to arrange an Arranged Overdraft, rather than use our Unarranged Overdraft service. While we cannot guarantee to give you an Arranged Overdraft, we will always consider your application fairly and give you a decision within a reasonable time.
     
  • We offer a range of free text-message and email alerts designed to help make day-to-day banking at Santander even easier. For example; you can set up alerts to let you know when your balance is low or when you are using an overdraft. To set up account alerts you must be registered for Online Banking.
     
  • We allow you time to manage your account so, if you should use an Arranged or Unarranged Overdraft, you will have until 4pm that day to credit your account with cleared funds and move your balance back to an Arranged overdraft or credit position.
    Note: You should always ensure there are sufficient funds available to support all payments from your account.  If you pay money into your account on the day a payment is due to be made, there may be some situations, out of our control, where we may not be able to ensure the payment is made. If you need any help understanding making payments please speak with a member of staff.
     
  • We will always be willing to discuss your financial situation and to help find appropriate ways of dealing with any financial difficulties you may have with your current account.
     

Please visit the following link for Santander Charging Scenarios.

The tables in the document above give some examples of our fees for making payments from your account when you haven't enough money.

We developed these examples with the Office of Fair Trading and leading consumer groups to help you to think about how changing the way you use your account can affect the amount we may charge you.

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