Business Everyday Saver

Business Everyday Saver

• 0.35% AER/gross (variable) until 6 July 2020
  0.01% AER/gross (variable) from 7 July 2020
• Interest is calculated daily and added to the account monthly

Yes, the rate can go up or down e.g. in response to industry and market conditions. If the rate goes down, we’ll let you know around 2 months before the rate changes.

Estimate assumes that the account is opened and deposit is made on 1st of the month and no change to interest rates.

This illustration is only an example and doesn't take into account individual circumstances.

Eligibility
You can apply for a Business Everyday Saver Account if:

• Your business is registered in the UK;
• All directors, owners (shareholders) or partners are aged 18 or over;
• All directors, owners (shareholders) or partners are UK residents;
• You have up to two directors, owners (shareholders) or partners;
• You are either a sole trader or your business is a partnership, limited liability partnership, private limited company or a trust.

Opening
You can apply if you're an existing Santander Business customer by calling us on 0800 731 6666. More on Telephone Banking

Deposits

• Minimum opening and account balance of £1. There is no maximum balance.

Managing the account

• Via online, mobile banking, cash machines or telephone by contacting our Business Banking Centre on 0800 731 666

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 any more. 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 alerts

• Yes, withdrawals can be made by Santander or LINK cash machines, post, Telephone Banking and Online Banking. There is no charge for withdrawals from UK LINK cash machines.
• Cash withdrawals (at Santander or LINK network machines) are limited to £500 per day.

Cancellation period

• You can cancel the account within 14 days of opening and your money will be returned in full with any interest.

Closing the account

• You or we may close your account at any time by giving the other party notice. If we decide to close your account, we will, wherever possible, give you at least two months' notice as described in our Business Banking Terms and Conditions and Important Information, unless there are exceptional circumstances, such as fraud. You can close your account by calling the Business Banking Centre on 0800 731 6666.

Tax status

• Interest payments will be calculated using the gross rate. This means all the interest we pay you will be without tax deducted. For sole traders and individual partnerships, if the total amount of interest you receive exceeds any Personal Savings Allowance to which you're entitled, you may have to pay tax at the applicable rate. This would need to be paid directly to HM Revenue & Customs. For more information, please visit gov.uk and search for 'Personal Savings Allowance'.

Full Account details can be found in the Key Facts Document on the  Key documents section.

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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 6 April 2020.