Summary of changes to terms and conditions

We’re making changes to the terms and conditions of your account

We’re updating our General Terms and Conditions and Key Facts Documents for business current and savings accounts to reflect new regulations and some changes to our services. We wanted to let you know in advance, so you have time to understand the changes and take any action if needed. Nothing is changing immediately; unless we say otherwise, the changes will happen by 18 December 2019 and we’re at hand to answer any questions you may have.
Summary of the main changes

A number of changes impacting your Santander business current and/or savings accounts will take place in the next few months.
In summary, we are:

  • Changing our overdraft alerts to help you avoid or minimise charges.
  • Changing how we show the available balance on your current account to make it clearer when you’re using an overdraft.
  • Introducing new rules to help protect you against fraudsters.
  • Removing certain fees relating to foreign currency transactions.

​​​​​​​We are also clarifying when certain fees will apply for using your cash and debit card abroad, and removing certain fees relating to these.
In addition to some other changes we’re making to our services, we’re also making some changes to our General Terms and Conditions and Key Facts Documents to define or clarify our existing terms and conditions. Some of these aim to improve your understanding of each document without changing the meaning of the terms and conditions by doing this. This includes some amendments to the definitions we use and tidying up certain terms and conditions, as well as how we display and describe certain information.

Unless we state otherwise the changes apply from 18 December 2019.

Changes for business current account customers only

1. We’re making changes to overdraft alerts to help you avoid or minimise charges

1.1 Arranged Overdraft alerts: The people named on your application form when your account was opened (‘Account Administrators’) and other relevant individuals (such as legal representatives, individuals who have been granted a power of attorney or other individuals involved in the running of the business) can choose to receive alerts about your account balance to try to help you avoid charges when your account has entered an Arranged Overdraft position or when it’s about to, for example, because of a regular payment like a Direct Debit.

1.2 Unarranged Overdraft alerts: We’ll no longer automatically register accounts to receive these alerts by email, but we will send them by SMS if we have mobile numbers for the Account Administrators or other relevant individuals. If Account Administrators or other relevant individuals already receive these alerts by email, this will continue.
These alerts are free and it’s important we have a mobile number registered for each of the Account Administrators and other relevant individuals to ensure they receive them. We may send alerts by push notification (messages in the mobile app) in the future. Anyone receiving alerts can choose to stop receiving them and check or update the mobile number they have registered using Online Banking, in branch or by calling us on 0800 731 6666.

2. We’re changing how we show the available balance on your account to make it clearer when you’re using an overdraft.
We’ll no longer include any available Arranged Overdraft when we show your available balance. This means you’ll see when you’re using your ‘own money’ and when you’re borrowing money using your Arranged Overdraft.

For example, if you have £500 of your ‘own money’ and an Arranged Overdraft limit of £250 in your current account, your available balance would currently show as £750. From 18 December 2019, your available balance will show as £500. You can still check your overdraft limit in Online and Mobile Banking or on your account statement.

3. Changes to overdraft limits, requests to repay and cancellation
We’ve clarified that if you are a partnership, we have the right to change your overdraft limit or request you repay your overdraft, in whole or in part, if any of your partners are, or are deemed to be, insolvent or unable to pay any of their debts.

4. We’re clarifying which laws apply to the Current Account Switch Agreement if you live in Scotland or Northern Ireland
The laws of England continue to apply, unless your address is in Scotland or Northern Ireland. In this case, the laws of Scotland and Northern Ireland apply (as applicable) and the courts in these countries may settle any dispute.

Changes for business current and savings account customers

5. Helping protect you from fraudsters
Earlier in the year we signed up to an industry code of good practice to help better protect our customers and reduce the occurrence of authorised push payment (APP) fraud. Scams involving APPs occur when you authorise a payment to an account that you believe belongs to a legitimate payee – but is in fact controlled by a fraudster.

In the future, once you have told us that you believe you have been subject to an APP scam, we will look into this and apply industry standards to determine whether you are entitled to a full or partial refund. We will usually let you know within 15 working days, although this might take longer in exceptional circumstances. Any refund you are entitled to will be given to you without delay. Please note that we will not refund you if we find that you should have known that you were sending money to a fraudster – although we will always take the circumstances in which the payment was made into account when considering this.
6. Changes to foreign transaction fees – effective by 15 December 2019
You’ll no longer be charged for the following transactions:

  • Cash withdrawal fee (including cash machines, purchase of travellers’ cheques or foreign currency at another bank, bureau de change or other outlet displaying the Visa or Mastercard sign abroad), currently 1.50% on each transaction.
  • Single Euro Payments Area (SEPA) - non-urgent euro transfer, currently £15.00.

7. Fees for using your cash or debit card in a foreign currency
We wanted to clarify that you may be charged a conversion fee of 2.75% of the value (with no minimum or maximum) when you use your debit or cash card for withdrawals or payments in a foreign currency.

In addition, all cash withdrawals made in a foreign currency at Santander cash machines in Spain will be free and you will not be charged a conversion fee.

8. Paying cheques into your account
We’ve clarified that cheques paid into your account from a Nominated Office or via the post will take longer to reach us.
We have also updated the cheque clearance timescales following the introduction of the new cheque imaging process across UK Banks and Building Societies.

9. Partnerships
Our terms and conditions have been updated to clarify that when a partner in a partnership dies and only one partner remains, we may block the account unless a second partner is appointed. Also, the account will not be considered as part of the deceased partner’s estate.

10. Direct Debits and standing orders
You will no longer need to give us the sort code of the person or company you were paying when you want to cancel a Direct Debit or standing order.

11. Personal use of business accounts
Business accounts can only be used for business purposes. If you are found to be using your account for personal use we may close your account.

12. Joint accounts
We’ve made it clear that joint accounts are not allowed for any business current account or savings account product i.e. two separate business entities can’t open an account together.

13. Card withdrawal or suspension
We’ve updated our terms and conditions to make it clear that our rights to withdraw or suspend cards apply to any or all of your cards.

14. Statements
We wanted to remind you that you will always receive your statements by post, unless you’ve chosen to be paper free in Online Banking. Information about your transactions will be available on a daily basis via Online Banking.

15. Payment of interest
We’ve made it clear that you will start receiving interest on money in your account when it is received by us.
16. Cash machines
We’ve clarified that cash withdrawals can be made from both Santander and LINK network cash machines.

17. TPPs
Third Party Payment Providers (TPPs) can only access your accounts where these are online payment accounts. If you ever revoke your consent to allow a TPP access to your account, we will tell the TPP that you have done this.

18. Excluding third party rights from our agreement with you
We have added a condition that we both agree that third parties will not be able to enforce any rights under your agreement with us.

19. Complaints to the FCA
Our terms and conditions have been updated to reflect that if you don’t think we are meeting our obligations under the Payment Services Regulations 2017, you are able to complain to the FCA using the contact details on their main contact page:

What to do next
These changes take effect on 18 December 2019 (unless otherwise stated) 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. However, if you don’t want to accept the changes then you can close your account without additional charge at any time.

The updated General Terms and Conditions and Key Facts Documents effective from 18 December 2019 will also be available on our website and in our branches from 18 December 2019.

It’s important to review your account to make sure that it continues to meet the needs of your business. If you feel that your account may not be right for you, we have other accounts available. Details of all our accounts can be found at
If you have any questions or there’s anything you don’t understand, please visit your local branch or call us on 0800 731 6666. We may record and monitor calls to help us with training and security.

If you have any questions or there is anything you don't understand call us on 0800 731 6666, visit your local branch or visit our website at

Here to help

Call us on 

Send us a tweet

Please don’t tweet your personal  or banking details