Corporate & Commercial customers
What ring-fencing means for you
Santander UK plc will become our main ring-fenced bank. It will broadly, to the extent allowed by the ring-fencing legislation, continue to serve the needs of our Santander Corporate & Commercial clients in the UK. Clients with accounts based in Jersey will receive a letter explaining what the changes mean for them in the coming months.
Our service for corporate and commercial customers within the ring-fenced bank will continue to focus on larger SMEs, right through to multi-national corporates, providing them with the products and services they need to grow their own business, leveraging our services and expertise for international trading and event-driven finance.
To comply with ring-fencing legislation, our ring-fenced bank will be subject to significant limitations on the investment services and activities that it can provide to customers. While it may continue to provide some simpler wholesale and investment products, it will not provide some of our more complex products. In addition, there are restrictions on the credit exposures allowed (e.g. through extending loans) to financial institutions or to certain corporate customers that are treated under ring-fencing legislation as being a financial institution.
If you’re a corporate client of Santander UK plc and/or Abbey National Treasury Services plc who is affected by our plans, we’ll already have been in direct contact with you to explain what this means for you and how we will continue to serve your needs in the future. If you have products, transactions or arrangements moving to the London branch of Banco Santander, S.A. (SLB) and need to onboard SLB as a counterparty you can find all the information you need here.
Protecting your company from fraud and scams
There are no planned changes to your Santander sort codes or account numbers as a result of our ring-fencing plans.
Other UK banks that are subject to ring-fencing may however be making changes so this may result in requests to change payment details. While there will be genuine requests to change payment details, fraudsters may use this as an opportunity to trick you into sharing your account details or changing payment information so they can access your money. Find out more on protecting yourself from fraud and scams here.