Client Saver

Client Saver

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

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 deposit 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 Client Saver Account if:

• You're a regulated business that needs to keep your clients' money separate from your own;
• All directors, owners (shareholders) or partners are aged 18 or over;
• You have a Santander business current account;
• All directors, owners (shareholders) or partners are UK residents.

Santander UK plc reserves the right to refuse an application for a Client Saver Account.

Opening

We’re working hard to do all we can to help our existing business customers who are in urgent need of support under the Bounce Back Loan Scheme.

This means that we aren’t currently accepting new applications for the Client Saver, but we will review this position over the coming weeks and further details will be available on our website.

You may apply for a "Designated Client Saver Account" or a "General Client Saver Account", but you must specify which at account opening;     

• a Designated Client Saver Account is used to hold client money in a single account for a  single client such as auditors, tax advisers, or property managers for holding rental  income. (If the Account is Designated you will name your client in your application form);
•  a General (Pooled) Client Saver Account is  designed for regulated businesses such as solicitors who are involved in financial and property transactions, as well as landlords and property managers for holding tenants’  service charges and security deposits. A General (Pooled) Client Saver Account is used to hold client money in a single account for a number of clients.

Deposits

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

Managing the account

• Via online/ mobile, post and telephone banking

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 electronic transfer or telephone

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. Servicing lines are open between 8am to 9pm Monday to Friday and 8am to 2pm on Saturdays.

Tax status

• Interest payments will be calculated using the gross rate. This means all the interest we pay you will be without tax deducted.

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

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