Santander UK was established in 1998 as a result of a merger of three building societies. Currently Santander UK operates as a full-service bank, offering a broad range of retail, private and corporate banking products and services to individuals, SMEs and large companies in the United Kingdom.
Becoming a client of Santander UK can be done in a few steps:
Due to regulatory requirements Santander UK performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Santander UK will ask him/her to provide the following documents: passport; proof of address. For corporate clients Santander UK will ask to provide corporate documentation as well as information about controlling persons. Santander UK may request additional documentation or information depending on the case. Santander UK performs client's identity verification via branch visit.
Santander UK is the 9th largest bank in the United Kingdom in terms of total assets. In 2019 its total assets were 281,70 bln GBP, providing the bank with the market share of 3.09%. In 2019 the bank's annual profit was 733,00 mln GBP.
Santander UK is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is A+ (high credit quality). Long-term credit rating assigned to the bank by Moody's is Aa2 (high grade).
Santander UK participates in the deposit guarantee scheme of the United Kingdom. This deposit guarantee scheme applies to current accounts, savings accounts, time deposit accounts made by private individuals, companies and covers up to up to 85,000 GBP per bank per depositor. Santander UK is a member of Financial Services Compensation Scheme (FSCS) and makes its contributions into it.
Santander UK is headquartered in Milton Keynes.
Santander UK is authorized and supervised by the Financial Conduct Authority (reference number 106054).