Keeping your Business Safe
We sometimes need you to check that the information we hold about your business is correct and up to date. We have a legal and regulatory obligation as your bank to make sure we keep accurate information about all our existing customers.
Why are you asking for information about my business?
UK Regulations require Santander, and all other UK regulated banks, to conduct ongoing customer due diligence measures. This includes reviewing existing records to keep documents and information up to date, as well as monitoring transactions undertaken throughout the course of the relationship.
Why do you need information about people within my business?
The information we’re requesting about individuals associated with your business is needed for our compliance with UK Money Laundering Regulations.
To complete the form, you may need:
- ID documents for each person named as an owner or controller of the business and their personal information.
- Financial information on your business for the last 12 months and next 12 months.
- Details on any other countries you conduct business with.
- The types of business category and industry you operate in.
- Details of any licenses or registrations with professional bodies your business has.
How often will I be contacted to verify information?
We’ll contact you when we think your business information may have changed, or if we haven’t been able to use authorised external sources to check that the information we hold is up to date. We may also contact you if we need to clarify anything further.
What should I do if there have been changes to my business?
If there’s been changes to your business, please follow the instructions in the communication you’ve received to update them.
If there’s been changes to your business and you’ve not received a communication from us it’s important to keep your details up to date. Please visit out Change of details page to get your business details updated.
What do I do if I can't provide the information you're asking for within the timescales?
If you can’t meet the deadlines or provide the information, please contact us on the number on your recent communication. Please remember, we'll never ask for details such as your card PIN, Online Banking passwords and One Time Passcodes (OTP). If you're asked to share these, hang up and call us on 0330 9 123 123 or 0800 313 4321 (freephone).
What happens if I don’t respond to the request?
It’s important that you keep your business details updated so we can maintain accurate records. If we don't get a response to our request we may need to block or close your business accounts.