Changes to laws or banking regulations can often affect your business current accounts and other banking services. We will always let you know about any changes to your account's terms and conditions, and we also update this page regularly to clearly communicate the details of any changes.
This page shows you the latest changes to our business current accounts.
We are starting to move our debit card provider from Visa to MastercardTM
When your current Visa debit card expires or you need a replacement for a lost, stolen or damaged card, you may receive a new debit Mastercard rather than a Visa debit card.
When you receive your new debit Mastercard, you can use it straight away. Once you begin using your new card, your old Visa debit card will no longer work.
Your card number will change, so you'll need to:
- Update your card details on the websites you regularly use and for any annual subscriptions or recurring transactions such as car insurance.
- Set up your new card in your digital wallet if you use Apply Pay, Samsung Pay, Google PayTM, Fitbit Pay or Garmin PayTM (not applicable for top-up debit card).
If your Personal ID number for Mobile or Online Banking is your old Visa card number, this number will remain unchanged. You can always change this to a new number when you log on to Online Banking under My Details & Settings > Change Security Settings > Change Personal ID.
New features with your debit Mastercard
The following exciting new features will be available to use with your new debit Mastercard
Use the handy 'View PIN' feature in our Mobile Banking app to see your Mastercard PIN for a few moments if you've forgotten it.
Mobile Banking will let you temporarily freeze your Mastercard if you think it's lost or stolen. Card controls will let you decide whether to restrict certain transactions such as contactless payments, online transactions, international transactions and gambling transactions.
If you'd like to learn more about card freeze and card controls, take a look at our short video
Priceless Cities provides access to unforgettable experiences in the cities where you live and travel. Time is the most precious resource we have, so the Priceless Cities mission is to provide you opportunities to have meaningful moments with the people you care about.
Take a look at the latest exclusive experiences
We’re making changes to the terms and conditions of your account
We’re making some changes to the interest rates on our business savings accounts following the Bank of England’s recent decision to reduce base rate to 0.10%. Your Key Facts Documents will be updated and the changes will come into effect on 7 July 2020.
Details of the new rates can be found in the table below.
Interest rates from 7 July 2020
|All rates shown are AER and are variable||Current interest rate up to and including 6 July 2020||New interest rate from 7 July 2020|
|Business Reward Saver (Issue 9) rate during statement month when withdrawal is made||0.10%||0.01%|
|Business Reward Saver (Issue 9) rate during statement month when no withdrawal is made||0.40%||0.05%|
|1|2|3 Business Reward Saver (Issue 9) rate during statement month when withdrawal is made||0.30%||0.05%|
|1|2|3 Business Reward Saver (Issue 9) rate during statement month when no withdrawal is made||0.60%||0.10%|
|Business Everyday Saver||0.35%||0.01%|
|Treasurer’s Savings Account||0.60%||0.01%|
What to do next
The changes will take effect on 7 July 2020 so you have time to decide whether your account is still right for your business.
- If you keep using your account, we’ll automatically make these changes and assume you accept them.
- If you feel your account is no longer right for your business, you can either transfer it to another Santander account (if available) or close your account at any time without additional cost before or after the changes become effective. Details of all our accounts can be found at santander.co.uk/business
The updated Key Facts Documents are effective from 7 July 2020 and will also be available on our website and in our branches from 7 July 2020.