- On 31st January 2020, the UK left the European Union.
- We’d like to reassure customers that Santander UK is a long-established UK bank, part of a major global group and we remain committed to our customers and to the United Kingdom.
- As a UK bank we’re subject to the requirements of the UK regulators such as the Financial Conduct Authority and the Prudential Regulation Authority.
- Santander UK is a major investor in this country and the UK’s departure from the EU does not change our position.
- We remain focused on our purpose – to help people and businesses prosper – and are committed to our customers, our employees and our business. Like any prudent organisation, we’ve been undertaking contingency planning and we’re well positioned to continue to help people and businesses prosper in the weeks and months ahead.
- We have no plans to make changes to our products but if we do need to make any changes in the coming months, we’ll provide our customers with as much notice as possible and stay in line with your terms and conditions.
We’re committed to helping businesses prosper and to supporting our customers through uncertain economic times. If you would like to talk to us about how Santander Business Banking may be able to support you please speak with a local Business Banking Manager or email EUExitQuestions@santander.co.uk and one of our team will be in touch.
Where are my deposits with Santander UK plc held?
Deposits held with Santander UK plc are held in the UK.
Is my money secure in the UK?
Santander UK plc customers’ deposits are protected by the Financial Services Compensation Scheme – which applies to eligible deposits held in the UK up to £85,000 per customer.
Since the UK has left the EU, the compensation limit continues to be set by the Prudential Regulation Authority and will be independent from any limits set by the EU.
Further information on Brexit and the FSCS can be found on the FSCS website
Am I able to use Santander cash machines / pay by my Santander debit / credit card in Europe?
Yes. The use of cash machines and how customers use their cards to pay for goods and services are not affected by the UK’s exit from the EU.
Am I able to bank online / via mobile when travelling in Europe?
Yes. Online and Mobile Banking are not affected by the UK’s exit from the EU.
How is the UK government supporting businesses with Brexit planning?
You can view government information about Brexit on the gov.uk website
What does Brexit mean for importing and exporting?
We can’t accurately predict the effect on trade flows, however with ‘no deal’ Brexit there may be some disruption at UK ports and airports, which may affect just-in-time manufacturers. Information is available from the government’s website and from trade bodies.
Santander UK plc is part of a major global group and our international teams have expertise in multiple jurisdictions. We can help clients expanding into overseas markets and make introductions to our partner banks. Entering a new market can be a lengthy process so get in touch with us as early as you can to see how we can help. We regularly analyse the responses of businesses with the size and ambition to engage in international trade, to provide unique insight into current business attitudes. This helps us to offer the right guidance and support to help businesses achieve their international ambitions.
I import/export to the EU. How is this affected by the UK leaving the EU?
You will need a UK Economic Operator Registration and Identification number (EORI) to continue trading with the EU after 31st December 2020. An EORI number is a unique identifier given to importers and exporters by HMRC and provides information to customs authorities in order to implement EU security measures.
The European Commission has published further information to help businesses prepare for the end of the transition period.
Does the UK leaving the EU affect my business if I don’t currently trade with the EU?
Whilst your own business may not be directly affected, you could be affected by any issues that your suppliers or customers experience. If you would like to talk to us about how Santander Business Banking may be able to support you please speak with a local Business Banking Manager or email EUExitQuestions@santander.co.uk and one of our team will be in touch.
I make payments to suppliers in the EU. How will payments be affected?
Your business will still be able to make payments to EU countries and there will be no change to payment processes.
Some of your EU suppliers may hold accounts in the UK, which you make payments to. From January 2021, where you need to pay them to an account in the EU instead, you may incur additional foreign exchange and/or transfer costs. Please speak to your Business Banking Manager to discuss our solutions or visit our international payments page.
What help can Santander UK plc provide if I'm worried about the impact Brexit may have on my cashflow?
If you want to borrow to provide your business with more flexibility, take a look at our borrowing and finance page Alternatively you can speak with a local Business Banking Manager or email EUExitQuestions@santander.co.uk
Are there any changes to the products and services Santander UK plc offers me now the UK has left the EU?
No, there have been no changes to products and services as a result of the UK leaving the EU. If we do need to make changes to any of our products, we will contact customers directly and provide you with as much notice as possible and stay in line with your terms and conditions.
My business is registered in the UK but I live in the EU, are there any changes to the services Santander UK plc offers me?
There is no change to eligibility and therefore no change to the service provided. Businesses holding accounts with Santander UK plc must be registered in the UK.
Can I still use my debit or credit cards in the EU?
Yes, there is no change to how you use your debit or credit card following the UK’s exit from the EU.
Are standard payment methods, such as standing orders and Direct Debits affected?
No, standard banking payments such as standing orders and Direct Debits remain the same.
What impact is there on lending options for EU-based businesses?
Businesses borrowing with us must be registered in the UK, there’s no change to eligibility and therefore no change to the service provided.
How has making international payments and sending money abroad changed?
Now that the UK has left the European Economic Area (EEA), European banks are allowed to take bank fees out of payments you make to accounts in the EEA.
So, while we, Santander UK plc, aren't changing our charges when you send or receive payments to or from the EEA, you may find that European banks now apply charges.
Learn more on our international payments page.
I’d like to complain about a Santander account I opened online, is the European Commission’s Online Dispute Resolution website available?
This service will no longer be available after 31st December 2020. Details on how you can complain about Santander can be found on our complaints page including details of the Financial Ombudsman Service.
Santander is a signatory of the SME Charter, which was launched on 9 October 2019 by the Secretary of State for Business, Energy and Industrial Strategy. The SME Charter page sets out our commitments under the Charter