Ring-fencing update

You'll no doubt be aware that the UK's largest banking groups are required to separate (or 'ring-fence') their retail banking activity (like mortgages, current accounts, savings accounts and payments) from some more complex wholesale banking activities by 1 January 2019.

Santander is one of the banking groups affected by these requirements and we want to provide you with an update on our plans. 

Our approach to ring-fencing

In determining our approach, we've carefully considered our options and chosen an approach which we believe provides greater certainty for our customers while ensuring minimal disruption. 

Santander UK plc will become our main ring-fenced bank in the UK and will serve all our UK personal and business customers. 

Santander UK plc will also broadly, to the extent allowed by the legislation, continue to hold and serve our corporate banking business in the UK. Any products we can't offer or customers we can't serve from within the ring-fenced bank (which will include some Santander Global Corporate Banking business), will be provided or served by the wider Santander Group, notably Banco Santander, S.A.

What this means for you

Our plans do not affect our relationship with you in any way.

There will also be no changes for your customers in the way they bank with us. We won't be making any changes to their Santander sort code or account number as a result of ring-fencing and we'll continue to offer our full range of products and services. 

If your customers do have any questions, please direct them to santanderringfencing.co.uk where there is more information on our plans and advice on how they can protect themselves from fraud and scams.