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.
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’.
We are updating our Terms and Conditions to clarify the cut-off times for making CHAPS and international payments.
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 santander.co.uk/business/support/customer-support/tc-and-important-information 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 0800 731 6666. 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
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
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