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.

The Bank of England Base rate has increased from 0.50% to 0.75% on 17 March. Following this, we’re increasing rates on a number of our products that aren’t linked to the base rate on 6 April. Details of your new rates are below. 

Account nameRate shownInterest rate before 6 AprilEffective from 6 April
Business Everyday SaverAER/gross (variable)0.01%0.10%
Treasurer's Savings AccountAER/gross (variable)0.01%0.10%
Client SaverAER/gross (variable)0.01%0.10%
Account nameRate shownInterest rate before 6 April
(effective rate during statement month when withdrawal is made)
Interest rate before 6 April 
(effective rate during statement month when no withdrawal is made)
Effective from 6 April
(effective rate during statement month when withdrawal is made)
Effective from 6 April
(effective rate during statement month when no withdrawal is made)
Business Reward SaverAER/gross (variable)0.01%0.05%0.10%0.20%
Business Reward Saver for 1|2|3 Business World customersAER/gross (variable)0.05%0.10%0.20%0.30%


We’re simplifying the historic business savings products mentioned above on 1 September 2021.

Why is this happening?

Because these historic products share similar features. We’d like to simplify the range and move them all to the Treasurer’s Savings Account (Annual Interest). However, there are no changes to how often interest is paid.

What the changes mean for you

If you’re impacted by this change you’ll receive a notification before 1 July 2021. Many of these accounts haven’t been used in some time. If you haven’t made a transaction in over 3 years, all the authorised signatories on the account will need to contact us to update their details before using the account again. 

The name and interest rate for the new product is shown in the table below and we’ve explained how the key changes impact you. Your account number and sort code will stay the same.

Existing account namesNew account nameExisting interest rateNew interest rateYour interest frequency
  • Charity Investment Account
  • Treasurer's Instant Saver
  • Treasurer's Savings Account
Treasurer's Savings Account (Annual Interest)0.01% AER/Gross (variable)0.01% AER/Gross (variable)Annual on the anniversary of your account opening

The following 2 key changes will be made to your account on 1 September 2021.

1. You’ll no longer need a minimum of 2 authorised signatories to access your funds

  • This means any one of the signatories on your account can approve any transaction and therefore gives you greater flexibility in managing your account.
  • This also allows any one signatory to manage your account through Mobile, Online and Telephone Banking to make transactions without the need to visit a branch.
  • We offer a Business Operator Card which allows authorised signatories to deposit cash, print mini statements or complete balance enquiries but doesn’t allow cash withdrawals. 
  • You can request to set up free text and email alerts to let you stay up to date with what’s happening with your accounts by calling us or visiting your local branch.

2. We will allow you access to cash cards

  • This means any one signatory can manage your account with a cash card through cash machines or at your nearest Post Office.
  • This will also allow you to make cash withdrawals or deposits and print mini statements or complete balance enquiries at the Post Office or Santander cash machines.

You don’t need to do anything as this change will happen automatically on 1 September 2021 and you’ll still be able to access your account in a way that works for you. From 1 September 2021, if you would like to order a cash card, Business Operator card or register for Online Banking, please call us on 0330 123 9860. 

Summary of changes to Terms and Conditions

The following changes apply immediately to new customers, and to existing customers two months from the date of the statement in which they were advised of the changes:

Single Euro Payments Area (SEPA)
Santander will continue to offer SEPA payments from your account following the end of the UK’s transition period with the EU on 31 December 2020. References to the ‘Single Euro Payments Area’ will continue to include the UK, but the UK will be listed as a separate jurisdiction. You can continue to make and receive SEPA payments from and to your account as you do today.

European Economic Area (EEA) payments and cut-off times
The definition in the Terms and Conditions of your account for ‘EEA payments’ has been updated to clarify that these payments are made from your account held in the UK into recipient accounts held in the EEA.

The following changes apply from 2 June 2021:

Closure of accounts
We’re clarifying the amount of notice to be given before closing an account, and that closure or suspension of an inactive account can be applied to both current accounts and savings accounts.

We are adding a definition of ‘insolvent’.

Cut-off times
We are updating our Terms and Conditions to clarify the cut-off times for making CHAPS and international payments.

Eligibility criteria
We’re aligning the eligibility criteria across our banking and savings Key Facts Documents to reinforce the requirement for businesses to be registered/based in the UK.

We’re adding that you may be able to refer a complaint to the Business Banking Resolution Service (BBRS), an independent organisation set up voluntarily by participating banks to resolve disputes which has different eligibility considerations from the Financial Ombudsman Service.

Data Protection Statement
We’re updating our Data Protection Statement to include more information about how we use automated decision making to make decisions about you and to tell you how we share and sell anonymised data within and outside of the Santander Group of Companies, for statistical analysis, research, and other business purposes. This data cannot be used to identify you. These changes apply to all personal data we hold for you in relation to any product or account you have with Santander. There are no changes to how you use your account. For more details on how we use your information, please read the full updated statement at which will be available from 2 June 2021.

How to get a copy of your updated terms and conditions
The updated Terms and Conditions and Key Facts Documents effective from 2 June 2021 will be available online and in our branches from 2 June 2021.

What if I’m not happy with the changes to my terms and conditions?
Nothing is changing immediately, so you have time to decide if your account is still right for your business. If we don’t hear from you before 2 June 2021 we’ll assume that you’re happy with the changes. However, if you don’t accept the changes then you can close your account without any additional charge before 2 June 2021.

If you have any questions or there is anything you don’t understand please speak to one of our Business Banking Managers or call us on 0330 123 9860. We may record and monitor calls to help us with training and security.

We are starting to move our debit card provider from Visa to MastercardTM

What does this mean for you?

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.

Next steps:

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

Check your PIN:

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.

Card freeze and card controls:

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:

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

If you have any questions or there is anything you don't understand call us on 0330 123 9860 or visit your local branch

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