Business Everyday Saver
What is the interest rate?
- 1.05% AER / 1.04% gross (variable)
- We work out the interest we’ll pay on your account each day.
- We pay interest each month into the account on the anniversary of the date it was opened.
Can Santander change the interest rate?
Yes, we can change the interest rate on this account as explained in the general terms.
What would the estimated balance be after 12 months, based on a £1,000 deposit?
|Account name||Interest earned||Balance after 12 months|
|Business Everyday Saver||£10.50||£1,010.50|
To work out the estimated balance, we’ve assumed that:
- The account is opened and the initial payment into the account is made on the 1st day of the month.
- You don’t pay in any more money or take any out.
- There is no change to the interest rate.
This illustration is only an example and doesn't take into account individual circumstances.
How do I open and manage my account?
You can apply by calling us on 0330 123 9860 or by making an appointment with a Business Banking Manager in branch. More on Telephone Banking
Managing the account
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
- 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 can’t pay money in or take it out over the counter at branches or Post Offices. You can nominate up to two extra account administrators. This account is operated with an operator card. This will let you pay money in and take money out at any Santander cash machine. There are no cheque facilities (you cannot request a cheque, or a chequebook) for this account.
Free text or email alerts
You can set up alerts to keep you updated about your account. For example, to tell you when your balance goes below a certain level. More on alerts
Paying money in
- Minimum balance: £1. No maximum balance.
- You can make your first deposit by cheque or electronic payment (e.g. Faster Payment). Once you get your card, you can pay money in electronically or with cash or cheques at a Santander cash machine.
Can I withdraw money?
Yes, you can take money out of your account at any time in these ways:
- Using a cash machine (but not over the counter at branches or Post Offices)
- Making a payment through Online or Mobile Banking, over the phone or by post.
You can’t have a debit card or chequebook (or request cheques from us) on this account but you can have a cash card. This will let you pay money in at Santander cash machines and take money out at any cash machines.
Tell us if you change your mind
We won’t charge you for cancelling your account - even if you do so outside the ‘cancellation period.’ Your cancellation period is 14 days long, and it starts the day after we’ve confirmed your account is open.
If you do this, we’ll return your money. We’ll do this as soon as we can (and within 30 days from when you tell us).
You can close your account at any time.
We pay interest without taking off income tax. This is known as ‘gross’ and the interest rate we give you reflects this. If you’re an individual, and the total interest you receive in a tax year is more than any Personal Savings Allowance that applies to you, you may have to pay tax on it. You’ll need to do this directly with HMRC.
We’ll send you a statement once a year in September.
To open these documents you will need to have Adobe Reader. Download Adobe Reader for free.
The Business Everyday Saver is subject to availability and may be withdrawn from sale at any time without notice. Rates and information correct as at 15 August 2023.
Everything you need to know before you apply
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.
- Business Everyday Saver Key Facts Document (pdf) (778 KB)
- General Terms & Conditions (pdf) including Terms of Business (266 KB)
To view these documents, you may need to download Adobe Reader
- 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