Changes to laws or banking regulations can affect your savings accounts and other banking services. We always alert you to any changes in your account's terms and conditions, and we also update this page regularly to clearly communicate any changes.

This page shows the latest changes to our savings accounts.

Changes to savings accounts with passbooks

From 29 March 2022, we’ll no longer be supporting Santander passbooks in our branches. This means you won’t be able to use your passbook with your savings account from this date.

What is replacing your passbook?

If you want to keep banking in our branches, from today you can ask in branch for a cash card which you can use at our counters or cash machines. If you don’t want cash machine access, we can turn it off for you. You can also ask for a wallet in any of our branches. You can then use it to store your mini statements so that you can keep track of your balance and recent transactions.

If you prefer to keep using your account from home, you can use Online and Mobile Banking. You can be confident your money is secure when using your account online as we use the highest standards of security in our technology and how we guard your identity. If you don’t have Online Banking, you can sign up here. 

Why are we stopping passbook use?

If you’ve used your passbook recently, you’ll have noticed that it can be very slow to carry out transactions and update your passbook. These alternative options should remove any of these type of problems. 

We also want to make sure that you can get to your money at any time, these options give you more ways to do this in a way that’s convenient for you. 

 

When is this happening?

You’ll be able to continue using your existing passbook until 29 March 2022.

Don’t worry, your account number won’t change, and you’ll still be able to access your account using Online and Mobile Banking and in branch with either ID or a cash card, if you chose to order one. 

 

What do I need to do?

If you never use your passbook there’s nothing you need to do.

 

To continue using your account in branch: Just speak to us the next time you’re in branch and we can offer you a cash card or a wallet for storing your paperwork. 

 

To use your account from home: If you don’t use Online Banking already you can sign up today. 

 

How will the cash card work?

Cash cards will be sent with a PIN and you’ll be able to use them at a cash machine, any Santander branch or the Post Office to make balance enquiries, deposit cash or make cash withdrawals.

 

What if I can't use a PIN / don't want cash machine access?​

That's fine – your card will still be sent with a PIN but if you don't want to use it at our branch counters, you don’t have to and you can continue to sign for transactions. We can also turn off cash machine access if you want.​

 

Are there any other accounts that use passbooks?

No. We’re removing passbooks from all our savings accounts.

 

How does Online Banking compare to the cash card?

If you prefer to bank from home, all our services are available through Online and Mobile Banking. If you don’t yet have Online Banking, you can sign up here. 

Online Banking compared to the cash card:

 

 

Accessing cashManaging your account
Online and Mobile BankingTransfer to an alternative account online
  • Print full statements (Online Banking only)

 

  • Make transfers between accounts online (Online Banking and mobile banking app)

 

  • Make payments from your account online (Online Banking and mobile banking app)
Cash cardWithdraw cash at a cash machine, in branch or at a post office
  • Print mini-statements at a cash machine

 

  • Print mini-statements and make transfers and payments in branch

 You can see all of this information in 'Changes to savings accounts with passbooks' (133 KB)

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 0800 731 6666. 

We’re always carefully reviewing the interest rates we pay on our savings accounts and want to let you know that we’re making changes to some of our variable rate ISAs.

The new interest rates will apply from 6 April 2021. More details are shown in the table below:

ISA variable interest rates effective from 6 April 2021

 

All rates are shown as AER/Tax-free (variable)Interest Rate before 6 April 2021Interest Rate from 6 April 2021
Easy ISA

0.01% for £1+
0.10% for £40,000+

0.01% for £1+
Inheritance ISA0.01% for £1+
0.10% for £10,000+
0.01% for £1+

We’re changing the General Terms and Conditions for current accounts and savings to reflect the UK’s changing legal and regulatory relationship with the European Union (EU). The UK left the EU on 31 January 2020. The UK’s Transition Period with the EU ended on 31 December 2020. 

These changes will happen automatically and will take effect for your account after the notice period required as outlined in your account's Terms and Conditions. There is no change to how you make payments. 

We’ve included the key information about these changes below, but you can view the updated version of your account Terms and Conditions here (358 KB)

  1. 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. 
  2. European Economic Area (EEA) Payments and cut-off times The definition in the terms 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. There is no change to the cut off times for when you can make a payment and when funds will be received in the recipient’s bank.

We’ve made some changes to your Data Protection Statement to include more information about how we use automated decision making to make decisions about you. We’ve also made changes to tell you how we share and sell anonymised data in the Santander group of companies and outside it, for statistical analysis, research and other business purposes. This data can’t 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 us. There are no changes to how you use your account.

We may have already contacted you to tell you about these changes. They won’t come into effect until you receive that notification. 

For more details on how we use your information, please read the full statement (68 KB)

Given the ongoing challenging market environment and the all-time low Base Rate, we have seen that savings rates across the industry continue to fall. We continue to carefully review the interest rates we pay on our savings accounts and want to let you know that we’re making changes to some of our variable rate ISAs.
 
The new interest rates will apply from 3 August 2020. More details are shown in the table below which may also include information on the account(s) to which your existing savings will be maturing in to.

Effective from 3 August 2020

 

 Interest Rate before 3 August 2020 AER/tax-free (variable)New Interest Rate AER/tax-free (variable)
ISA Saver

0.01% for £1+

0.10% for £10,000

0.01% for £1+
1|2|3 Help to Buy ISA (Issue 1)*2.75%0.75%
Help to Buy ISA (Issue 1)*2.75%0.75%
1|2|3 Help to Buy ISA (Issue 2)*1.50%0.75%
Help to Buy ISA (Issue 2)*1.00%0.75%
1|2|3 Help to Buy ISA (Issue 3)*1.25%0.75%
Help to Buy ISA (Issue 3)*0.75%0.75%
1|2|3 Junior ISA (Issue 1)*2.00%0.75%
Junior ISA (Issue 1)*1.50%0.75%

*Off-sale products 

As you may be aware, the Bank of England base rate was recently reduced to 0.10%, which is the lowest base rate we've experienced. Given the challenging market environment in which we're currently operating, we've had to carefully review the rates of interest we pay on our savings accounts and want to let you know that we're making changes to our variable rate accounts.

Your account(s), alongside the current and new interest rate(s) are shown in the table below, including the date on which these rates will change for each account.

The table may also include information on the account(s) to which your existing savings will be maturing. 

Effective from 1 April 2020

 Rate shownInterest Rate before
1 April 2020
Effective from
1 April 2020
Good for Life ISAAER/Tax free (variable)0.75%0.10%
Rate for Life ISAAER/Tax free (variable)0.10% for £1+
1.00% for £1,000 +
0.01% for £1+
0.35% for £1,000 +

 Effective from 22 May 2020

 Rate shownInterest Rate before
22 May 2020

New Interest Rate
AER/tax-free (variable)

Easy ISAAER/Tax free (variable)0.20% for £1+ 
0.60% for £40,000+
 
0.01% for £1+ 
0.10% for £40,000+
ISA SaverAER/Tax free (variable)0.35% for £1+ 
0.65% for £10,000+
0.01% for £1+ 
0.10% for £10,000
1|2|3 Help to Buy ISA (Issue 1)*AER/Tax free (variable)4.25%2.75%
Help to Buy ISA (Issue 1)*AER/Tax free (variable)4.25%2.75%
1|2|3 Help to Buy ISA (Issue 2)*AER/Tax free (variable)2.75%1.50%
Help to Buy ISA (Issue 2)* AER/Tax free (variable)2.25%
 
1.00%
1|2|3 Help to Buy ISA (Issue 3)* AER/Tax free (variable)2.25%1.25%
Help to Buy ISA (Issue 3)* AER/Tax free (variable)1.75%0.75%
Cash ISA (Formerly TOISA)*AER/Tax free (variable)0.20% for £10+ 
0.60% for £9,000+
0.01% for £1+ 
0.10% for £9,000
1|2|3 Junior ISAAER/Tax free (variable)3.25%2.00%
Junior ISAAER/Tax free (variable)2.75%1.50%
Inheritance ISAAER/Tax free (variable)0.35% for £1+
0.65% for £10,000+
0.01% for £1+ 
0.10% for £10,000
123 eISA (Issue 7)*AER/Tax-free (variable)0.65%0.40%
eISA (Issue 7)*AER/Tax-free (variable)0.35%0.10%
123 eISA (Issue 8)*AER/Tax-free (variable)0.85%0.40%
eISA (Issue 8)*AER/Tax-free (variable)0.55%0.10%
Santander Shareholder Default Account*AER/Gross (variable)0.50%0.01%
Special Reserve Account *

AER/Gross (variable)

0.50%0.01%
Fast Access Account*AER/Gross (variable)0.50%0.10%

Effective from 7 July 2020 

 Rate shownInterest Rate before
7 July 2020
Interest rate from
7 July 2020
Charity and Treasurers Account*AER/Gross (variable)0.60%0.01%
Everyday SaverAER/Gross (variable)0.35% before 20 May
0.20% from 20 May
0.01%
Private Everyday SaverAER/Gross (variable)0.35% before 20 May
0.20% from 20 May
 
0.01%
1|2|3 eSaver (Issue 15)*AER/Gross (variable)0.50%0.10%
eSaver (Issue 15)* AER/Gross (variable)0.40%0.05%
First Home Saver*AER/Gross (variable)1.25%0.60%
Flexible Saver for Kids*AER/Gross (variable)0.75%0.10%
Instant Saver*AER/Gross (variable)0.10%0.01%
Bond Maturity AccountAER/Gross (variable)0.50%0.01%

 *off-sale products

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