Changes to current and savings accounts

We’re updating the terms and conditions for all our business current and savings accounts. These changes affect our Business Banking General Terms & Conditions and some of our Key Facts Documents (which set out the terms that apply to specific accounts). 

We’re telling you now, so you have plenty of time to understand the changes or get in touch if you have any questions. 

From 4 February 2025, you’ll find the new terms on our website, in branch or by calling us and asking for a copy to be posted to you. You can find more information below. 

Closure of fax payment channel and payments by post 

Due to changes in the way telephony services are provided, fax services are no longer guaranteed to work in the same way. Because of this, we’ll no longer be accepting payment instructions by fax. However, there are lots of alternatives to fax machines now widely available. To find out more about these changes, visit ofcom.org.uk and search ‘removing fax’. 

We’ll also no longer be accepting payment instructions by post. 

You can find information on the payment methods available to you in the Key Facts Document for your account. 

Information you must tell us about your business 

Our terms and conditions outline when you must tell us about changes to your business. We’re updating these to make it clear that you must tell us about any important changes to your business. This includes changes to the nature of your business, such as the activities your business normally carries out. It also applies to any changes to your trading address or to the type of entity your business is, e.g. a change from a sole trader or a partnership to a limited company. 

Coin deposit restrictions 

We’re removing the general restriction on the amount of coin you can deposit into any account in each year, but limits on individual deposits will still apply to particular accounts. You can ask us about these limits at any time. You can also find more information on the annual deposit limits that apply to your account in your Key Facts Document. 

Updating the addresses you can contact us at 

We’re updating some of our postal addresses if you want to get in touch with us in writing. 

Why we’re making these changes 

From 4 February 2025, we’re making changes to our terms. 

• We’re making changes to ensure our terms comply with law and regulation. 
• There are updates to reflect how we do business including our approach to changes in technology.

Do you need to do anything? 

These changes will happen automatically on 4 February 2025. If you’re happy with the changes, you don’t need to do anything to accept them. If you currently rely on making fax payments, you’ll need to make alternative payment arrangements. 

We’re here to support you and can provide you with details of how to make payments in other ways. On our website, there are several ways you can make convenient, secure payments for free. Visit santander.co.uk and search ‘ways to bank’. 

If you’re not happy with the changes, or feel your account is no longer right for you, you can close it and end your agreement with us with no charge (subject to your product terms and conditions). 

If you’d like to close your account, our website has the most up to date information on how you can do this. Visit santander.co.uk and search ‘close business account’. 

Your right to close an account without charge doesn’t apply if you have a Fixed Rate Business Bond. If you have an overdraft, you’ll need to repay this before we close your account. 

From 4 July 2024 we’ll no longer be part of the Lending Standards Board’s (LSB) Standards of Lending Practice. 
Membership of the LSB is voluntary for the banking and lending industry. 

Our withdrawal won’t impact the products we provide to you and how they operate, or the way we treat you.