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Business Current Account

Clear upfront costs

Your day-to-day business banking from £7.50 a month

If you have a small to medium sized business with up to two directors, owners (shareholders) or partners, you could be eligible for our Business Current Account.

It's simple to manage your monthly outgoings. We offer a range of fixed fee tariffs from £7.50 to £40 a month, depending on your monthly cash deposits.

Once you've paid your fee, all your standard day-to-day business banking is included, such as Direct Debits, cash withdrawals and cheque deposits. Non-standard transactions like change giving and CHAPS payments aren't included in your monthly tariff. 

You'll also get:

  • Interest - earn 0.25% gross/AER (variable) on any credit balances up to and including 31st October 2016. After this date the interest rate will reduce to 0.10% gross/AER (variable).

  • Flexible ways to manage your money - at Santander cash machines and participating Post Office branches nationwide, as well as in Online and Mobile Banking.

  • A chequebook and Visa debit card

  • Online business support and guidance

Join the Best Business Current Account Provider for 14 years

We're proud to have been awarded Best Business Current Account Provider for the last 14 years, as well as Business Bank of the Year for the second year running by Moneyfacts.

                  

 

Please read the full product details and terms & conditions before applying. Other
accounts are available; see our business current account range to find out more.

 

 

Know what your banking will cost each month

It makes business sense to control your costs. That's why with our Business Current Account you pay one fixed monthly fee based on your monthly cash deposits and all your standard day-to-day Business Banking is included.

If you have a small to medium sized business with up to two directors, owners (shareholders) or partners, you could be eligible for our Business Current Account.

There are 4 tariffs based on how much cash you deposit each month:

Monthly fee £7.50 £12.50 £20 £40
Monthly limit for cash deposits  £1,000 then
£0.50 per £100
 £3,000 then
£0.50 per £100
 £5,000 then
£0.50 per £100
 £10,000 then
£0.50 per £100

Your tariff includes:

  • depositing and sending cheques

  • cash deposits up to the limit your tariff allows 

  • withdrawals

  • Direct Debits, standing orders, bill payments

  • Bacs credits

  • debit card payments

Your tariff doesn't include:
Non-standard transactions such as change-giving, CHAPS payments and foreign currency transactions. A daily limit applies to ATM withdrawals and a transaction limit applies to faster payments. Please see the Key Facts Document on the 'terms & conditions' tab for full details.

What you'll get:

  • A Visa debit card  (other types of cards are available to give to your employees)

  • Contactless payments with your mobile by linking your Santander debit or credit card to your Apple or Android device

  • A chequebook

Business overdrafts
You can apply for a business overdraft with a Business Current Account and borrow from £500 to £25,000 (subject to acceptance). There is an arranged overdraft annual fee of 1% of the agreed overdraft (minimum fee £50). The arranged overdraft interest rate is 5.25% EAR (variable) (Bank of England base rate plus 5%) and the unarranged overdraft interest rate is 25.25% EAR (variable) (Bank of England base rate plus 25%). The unpaid item fee is £15. For more information, see Business Overdrafts.
Other borrowing options are available, such as business loans or asset finance: see our business borrowing and finance options to find out more.

You can apply for an overdraft if: 

  • you have a good credit history and haven't been declared bankrupt or had an Individual Voluntary Arrangement in the last 6 years (either the company, owners, partners or directors)
     
  • you haven't been a disqualified director or a director of a failed business within the last 6 years.

 See how much you could save when you switch to our Business Current Account

At Santander, we've done the hard work for you and compared our Business Current Account with other banks' similar accounts. To see how much you could save when you move to Santander's award winning business banking take a look at our Business Current Account calculator.
 
Join the Best Business Current Account Provider for 14 years

We're proud to have been awarded Best Business Current Account Provider for the last 14 years, as well as Business Bank of the Year for the second year running by Moneyfacts.
 

 

 

Switch your business current account in just 7 working days

We are members of the Current Account Switch Service. This means your switch will be completed in 7 working days and is backed by the Current Account Switch Guarantee 
 


All taken care of
Our dedicated switcher team manage the switch of all your Direct Debits, standing orders and bill payments. On your switch date, your old account will close. We'll transfer in any balance from your old business account and make sure any payments to and from your old account are redirected to your new account. We'll also contact the sender to give them your new account details.

Choose the date your switch starts
The switch can begin on the day your account is opened or any time in the next 60 days. We'll ask you to choose when you apply.

Stay up to date
We'll keep you updated of progress by letter, text and email. You can also call us anytime to see how your switch is going on 0800 731 6666, 8am to 9pm Monday-Friday and 8am to 2pm Saturday.

How to switch
Simply let us know you want to switch your old business bank account when you apply.
During your application you'll be asked if you have any other bank accounts. By saying yes, we'll then ask for your old business bank account details so we can contact your old bank to get things moving.

Switching your Current Account Step by Step:

Day 1: Welcome Day 3: Update Day 7: Completion
What we'll do What we'll do What we'll do

Contact you to let you know that your switch has started

Ask your old bank for a list of all your Direct Debits, standing orders and bill payments 

Send you this list and set up all your standing orders and bill payments on your new account

Ask the Direct Debit companies to collect future payments from your new account 

Contact you to let you know that we have switched your account

Help you contact companies that have not updated their records

Contact you if Direct Debits don't appear on your new account and switch these 

What you need to do What you need to do What you need to do 
Choose a switching date on your application form Check the list of Direct Debits, standing orders and bill payments is correct and let us know if any are incorrect or need to be cancelled  Check your payments have been set up as expected


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 stress-free way. It will only take 7 working days and 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.

  • We'll 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

Switching your Business Current Account Key Facts Document

Switch Agreement Form

Account Closure Instruction

Your money, your way
You choose how you bank with us.

Online Banking
Secure, 24/7 banking. Make payments, view statements and much more. More on Online Banking.

Mobile Banking
Bank from anywhere using our Santander Business Banking app or by using bb.santander.co.uk. Text me the app.

Free text and email alerts
You don’t have to wait for your statement to arrive or to log on to find out something has happened on your account anymore. By setting up the alerts you want in Online Banking we can send you a text or email when it happens – such as when your balance goes above or below a certain amount.       More on free alerts.

Telephone
Call us on 0800 731 6666. Lines open 8am to 9pm Monday to Friday and 8am to 2pm Saturdays. More on Telephone Banking.

Post Office
As a Santander Business Banking customer you can pay in, withdraw cash, deposit cheques and more at participating Post Office branches nationwide (services and opening hours for individual Post Office branches within the Post Office Network may vary). More on face to face banking.

Cash machines
You can do more than just withdraw cash at our cash machines. For example, pay in the day’s takings in cash or cheques or see your latest transactions and balance.

Your interest
You'll earn 0.25% gross/AER (variable) interest on your credit balance up to and including 31st October 2016. After this date the interest rate will reduce to 0.10% gross/AER (variable). Interest is calculated daily and paid monthly, usually on the same day of the month on which you opened your account. Up to and including 5 April 2016 interest will be paid net, unless evidence is provided to confirm your eligibility to receive interest gross. From 6 April 2016, you'll receive interest gross, with no tax taken off. The gross rate is the interest rate we pay where no income tax has been deducted.

Tariffs
You can choose one of 4 tariffs, based on the amount of cash you deposit each month, and then all your standard day-to-day banking is included.

  • £7.50 tariff - if you deposit up to £1,000 in cash.

  • £12.50 tariff - if you deposit up to £3,000 in cash.

  • £20 tariff - if you deposit up to £5,000 in cash.

  • £40 per month - if you deposit up to £10,000 in cash (you can only apply for this tariff in branch or by phone)

Paid-for transactions
If you do any non-standard transactions, you will pay a fee. Non-standard transactions include change-giving, CHAPS payments and foreign-currency transactions.

Daily transaction limits may apply, for example, but not limited to, ATM withdrawals. Please see the Key Facts Document on the Terms & conditions tab for full details.

If you hold a Business Everyday Current Account, you have slightly different rates and fees. See Business Everyday Current Account Key Facts Document.

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Everything you need to know before you apply

We recommend reading the information in the documents below before you apply. You may like to save or print them so you can refer to them in the future.

To view these documents, you may need to download Adobe Reader.

You can apply for a Business Current Account if:

  • all directors, owners (shareholders) or partners are aged 18 or over
     
  • you've been trading for more than 12 months
     
  • your business is registered in the UK
     
  • you have up to two directors, owners (shareholders) or partners
     
  • all directors, owners (shareholders) or partners are UK residents
     
  • you are either a sole trader or your business is a partnership, limited liability partnership, private limited company or a trust.

Overdrafts

You can also apply for an overdraft if:

  • you have a good credit history and haven't been declared bankrupt or had an Individual Voluntary Arrangement in the last 6 years (either the company, the owners, partners or directors)
     
  • you haven't been a disqualified director or a director of a failed business within the last 6 years

If you have more than two directors, owners (shareholders) or partners or your business entity isn't listed above, please visit Corporate & Commercial Banking.

Not-for-profit organisations such as clubs, societies or charities can also apply. Please see our clubs and charities accounts.

Apply online

Apply by phone
Call us on 0800 068 7010. Lines are open Monday to Friday 8am to 7pm.

Apply in branch
Contact your local branch to see if a Local Business Manager is available to support you.

Have you got the right ID?
If you are opening a Santander Business Current Account, we need to verify your personal identity and we may need to verify the existence of your business. Check you've got the ID you'll need to open the Business Current Account

 

 

Apply online

Frequently asked questions

    • Sole traders

    • Partnerships

    • Limited Liability Partnerships

    • Private Limited Companies

    • Trusts

     

    Your business must have up to two directors, owners (shareholders) or partners.

     

    If you would like a relationship managed service or have comprehensive banking, international business or larger lending needs, please visit Corporate & Commercial Banking.

  • If you already have a Business Current Account with us, you can apply for an overdraft if:

    • you have a good credit history and haven’t been declared bankrupt or had an Individual Voluntary Arrangement in the last 6 years (either the company, owners, partners or directors) 

    • you haven't been a disqualified director or a director of a failed business within the last 6 years

       

    Apply online
    If your business has up to two directors, owners (shareholders) or partners, you can apply online

     

    Apply by phone
    Call us on 0800 313 4481. Lines are open Monday to Friday 8am to 6pm.

     

    Apply in branch
    To see if a Local Business Manager is available to support you, contact your local branch

  • We take your Business Current Account fee automatically from your account on the monthly anniversary of the day your account was opened. For example, if your account was opened on 15th January, your account will automatically be debited on the 15th of every month, or the nearest working day after.

  • To change your account details you will need to complete and return the Change of Details form. Once complete please return the form to Santander Business Banking, Bridle Road, Bootle L30 4GB. If you require assistance with your request please call the Business Banking contact centre on 0800 731 6666. Lines open 8am to 9pm Monday to Friday and 8am to 2pm on Saturdays.

     

    If your business is a Club or Society, you’ll need to complete the Change of Details form for Clubs and Societies.

  • No, providing you repay any outstanding overdraft(s) on your previous account(s) as required by your old bank or building society. If there are any problems with payments (as part of the switching process) your new bank or building society will correct them and ensure your credit rating is not affected.

  • Can’t find what you are looking for? Find more on the Business FAQs page.

Subject to availability and may be withdrawn without notice at any time.

AER explained
AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year.

Gross rate explained
The gross rate is the interest rate we pay where no income tax has been deducted.

Net rate explained
The net rate is the interest rate we pay after deduction of income tax at the rate specified by law.

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