What you can get
- Discounted monthly fee of £5 for start-ups for 18 months and switchers for 12 months (£12.50 standard monthly fee)
- Access online, at Santander branch counters, ATMs and Post Office branches
- 1|2|3 Business World offers
Eligibility
- Your business is registered in the UK
- You're either a sole trader or your business is a partnership, limited liability partnership, private limited company or trust with no more than 2 directors, owners (shareholders) or partners
Arranged overdraft
(Subject to status)
Up to and including 5 April 2020 representative 5.75% EAR (variable). From 6 April 2020 representative 10.00% EAR (variable)
Annual fee 1% of the agreed overdraft (minimum fee £50)
Use our quick and easy application checklist to make sure you have all the required information before you apply.
Your credit turnover is any money paid into your account, except any credit interest we add to the account or money transferred from other Santander accounts also held in your business’s name. Cashback will be calculated annually on the same date the account was opened (or transferred to), or the first working day after this. Cashback will then be paid on the following working day.
If you switch your business current account to us using the Current Account Switch Service you’ll pay a reduced monthly fee of £5 per month the first 12 months.
At the end of the 12 month period, you’ll pay £12.50 per month.
You can switch your business current account with any provider to us. You will receive a new account number, card and PIN.
For more information take a look at our switching support page
- your business is in it’s first year of trading, and
- this is your business’ first business current account with us.
The account fee is £5 per month for the first 18 months, at the end of the 18 month period you’ll pay £12.50 per month.
- your business has been trading for more than a year, and you don’t want to switch your existing account to us, or
- your business already has a business current account with us and you want to open an additional account.
The fee for this account is £12.50 per month.
Charges apply to non-standard transactions such as change-giving, CHAPS payments and foreign currency transactions. Please see the Key Facts Document in ‘Other account information’ for full details.
As part of your current account application, you can apply for a business overdraft from £500 to £25,000 (subject to acceptance) if:
- you have a good credit history;
- you haven't been declared bankrupt;
- you haven'’t been a disqualified director or a director of a failed business within the last 6 years; and
- neither you, nor any of the directors, owners (shareholders) or partners, have had an Individual Voluntary Arrangement.
Overdraft interest rates and fees
|
Description |
Up to and including 5 April 2020 |
From 6 April 2020 |
|---|---|---|
|
Arranged overdraft annual fee |
1% of agreed overdraft (minimum fee £50) |
1% of agreed overdraft (minimum fee £50) |
|
Arranged overdraft interest rate |
5.75% EAR (variable) (Bank of England Base Rate plus 5%) |
10.00% EAR (variable) |
|
Unarranged overdraft interest rate |
25.75% EAR (variable) (Bank of England Base Rate plus 25%) |
No interest |
|
Unpaid item fee |
No fee |
No fee |
|
Paid item fee |
No fee |
No fee |
Overdrafts depend on your circumstances and you must repay any overdraft when we ask, in line with our General Terms and Conditions.
Other borrowing options are available. See our business borrowing and finance options to find out more.
We’ll let you know at least 30 days before we debit your annual renewal fee and at least 14 days before we debit your monthly charges and interest.
Please see the Key Facts Document in the ‘Key documents’ section for full details.
We recommend reading the information in the documents below before you apply. You may want 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
24/7 banking on all your devices. You can set up paper free statements and set up personalised account alerts.
- Online Banking
- Mobile Banking app
- Face-to-face banking in our branches and Post Offices
- In branch – pay in, withdraw cash, deposit cheques and transfer money (all transactions subject to account limits)
- Telephone Banking
- Use our ATMs to withdraw cash, make cash and cheque deposits, check your balance and manage your PIN (all transactions subject to account limits)
You’ll be automatically set up to receive text alerts when:
• your account makes or may make use of an unarranged overdraft
• you have regular payments due on your account for which you have insufficient funds to cover, we will ask you to pay into your account to ensure these payments are made;
• where a payment is refused as you don’t have enough funds.
You can register to receive an alert when:
• your account makes use of an arranged overdraft.
If we don’t have a valid mobile number for you, we might not be able to reach you.
You can also register for other account alerts to help you to stay on top of your finances. For example, alerts to inform you when your balance has fallen below a set limit, or you have had a deposit into your account greater than a set amount. For more information visit Account alerts. You can manage your alerts settings at any time via Online Banking, calling us on 0800 731 6666 or visiting a branch.
Participating providers of UK business bank accounts have agreed to a basic set of information that they'll need from you to set up your UK business current account. Find out what you'll need to provide using the simple business account checklist from UK Finance, the UK's leading trade association for financial services. This is only a standard checklist, so you may have to provide additional information while completing our application form.
To make your application journey as easy as possible we’ve created a checklist so you have all the information required to hand including your personal identity and existence of your business. Check you’ve got the right information you'll need
If you are, or have applied to become a Payment Service Provider, please go to the Payment Service Provider page to find out more about the services available and how to make contact with a Santander Relationship Director.
Keep your banking details private and secure.
For more information about our approach to security as well as more useful information to help you stop the threat of fraud visit our Security Centre
You can transfer your Santander business current account online if you’re:
- a sole trader or current partner in a partnership
- a member of a limited liability partnership
- a director of a private limited company; or
- a trustee of a trust
And:
- only your signature is required to operate the existing account on behalf of the business
- the account you want to transfer is either a Business Everyday Current Account or a Business Current Account
When you transfer your existing Santander business current account you’ll be able to keep your existing account number, card and PIN. You’ll need to have your existing account details handy to transfer.
If you want to transfer now you’ll need to log on to Online Banking, then go to ‘Apply online’ on the right hand side and click on ‘Transfer current account’.
Not set up for Online Banking yet or don’t meet the eligibility criteria above?
You can transfer your account by calling us on 0800 085 1968, or by visiting your local branch.
Join an award-winning bank
We're proud to have been awarded Best Business Current Account Provider for the last 17 years by Moneyfacts. We’ve also been named Business Bank of the Year for the last 5 years by Moneyfacts.
This account also comes with
Information correct as at 14 January 2020.