Finder rating
★★★★★
★★★★★
Expert analysis
Customer rating
★★★★★
★★★★★
Satisfaction survey
Range of different business accounts available
Once the introductory price offer ends, higher monthly account fees apply
Santander business bank account comparison and review
Santander has some great free and discounted banking offers for startups, as well as accounts suitable for charities.
Compare Santander’s business accounts
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What is Santander business banking?
Santander entered the UK banking market in 2004 and has since grown to serve over 14 million customers across the country. Currently Santander is only supporting existing Santander customers looking to open new Santander business accounts (last checked June 2022).
What type of business accounts does Santander offer?
Santander has three types of current account to serve different circumstances (not including large corporate banking services):
- 1|2|3 Business Current Account. For everyday business banking, with discounted rates for startups (in their first year of trading) and businesses who switch their account to Santander.
- Business Current Account. For everyday business banking, with 18 months free for startups (in their first year of trading).
- Treasurer’s Current Account. For clubs, societies and charities (with a turnover up to £250,000).
Note that all of the above accounts must be used solely for business purposes.
Santander business banking features and charges
Santander’s business accounts include the following benefits:
1|2|3 Business Current Account
- Discounted monthly fee of £5 for startups for 18 months and switchers for 12 months (£12.50 standard monthly fee).
- Unlimited Santander ATM cash deposits.
- Up to £300 cashback each year.
- Interest on your credit balance (0.10% gross/AER).
- Arranged overdraft of 10% EAR (variable). Annual fee 1% of the agreed overdraft (minimum fee £50).
- Access online, at Santander ATMs and Post Office branches.
Business Current Account
- Free everyday banking for startups for 18 months (£7.50 standard monthly fee).
- No charge for cash deposits at Santander ATMs and post office branches up to £1,000 per month (then 70p per £100).
- No interest on your credit balances.
- Arranged overdraft of 10% EAR (variable). Annual fee 1% of the agreed overdraft (minimum fee £50).
- Access online, at Santander ATMs and Post Office branches.
Treasurer’s Current Account
- Free day-to-day banking for clubs, societies and charities.
- Text and email alerts to help you manage your account.
- Easy access – secure online and mobile banking 24/7.
Santander international business banking
Santander customers can make international payments using online and telephone banking.
Cost of international banking:
- Electronic transfer (standard) fee – £25.
- Electronic transfer in euros (non-urgent: SEPA) – free.
- Currency draft (cheque) – £10.
- Currency conversion fee for using card for payments or purchases in foreign currency: 2.95%
Payments in GBP, euros and USD can be made on the same day, as long as they are made by the cut-off time (varies by currency, details on the Santander site).
You can choose whether to pay the fees yourself or charge them to the recipient.
Santander business banking contact details
Depending on your query, Santander can be contacted using the following numbers:
Current accounts, lost/stolen debit card and international payments: 0800 731 6666.
Lines open 8am to 8pm Monday to Friday and 8am to 2pm Saturdays.
Loans and overdrafts: 0800 313 4481.
Lines open 8am to 6pm Monday to Friday.
Credit cards (including lost/stolen): 0800 218 2345.
Lines open 8am to 8pm Monday to Friday and 8am to 2pm Saturdays.
Support for online and mobile banking: 0800 169 6677.
Lines open 8am to 8pm Monday to Friday and 8am to 2pm Saturdays.
Making a complaint: 0800 171 2171.
Lines open 9am to 5pm Monday to Friday.
Santander business banking reviews
On Trustpilot, Santander Bank as a whole (not simply its business services) has 1.3 out of 5 stars and a rating of “Bad”, based on more than 4,600 reviews (last checked: June 2022).
Santander’s business banking app has 1.7 out of 5 stars in Google’s Play store, based on more than 1,600 reviews. On the App Store, the app has just 1.2 out of 5 stars, based on more than 1,700 reviews.
Customers are split about the service on offer – some praise helpful and efficient staff, while others complain about mishandled queries.
Pros and cons of a Santander business account
Pros
- Range of business accounts to choose from.
- Free/reduced fee introductory periods.
- Extensive branch network if you prefer to bank in person.
- Overdrafts available.
Cons
- Once any free banking period ends, there are cheaper monthly fees available elsewhere.
- Mixed customer reviews.
The bottom line
Santander is one of the biggest banking names on the UK high street, so it has a large branch network if you need to make a visit. It has a range of business accounts available depending on your business size and needs, and also offers overdrafts and other banking products. Santander has various free or discounted business banking offers available on new accounts, although once any free banking periods end, the monthly fees are not the most competitive available.
Get started by visiting Santanders’s website and sign up for an account. If you have read this review and decided that Santander’s account is not for you, you can also compare other business bank accounts on the market.
Business banking ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our customer satisfaction scores ("Customers say") are based on a survey of 362 customers carried out in December 2021.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
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