How to open Santander business account online

Those looking for a Santander business account have three options to choose from – although currently, the bank is only offering them to existing customers. 

If you’re wondering how to open a Santander business account, we’ve got everything you need to know right here, from a review of the key features that will make your business account tick, to the pros and cons of choosing Santander. 

We’ll even show you how Santander’s business account options compare to ANNA’s plans – and you can’t say fairer than that.

What types of business bank accounts are available at Santander?

If you’re a sole trader or an SME that has relatively simple banking needs and no more than 2 directors, owners or partners, Santander has a business bank account for you. Clubs, societies and charities can choose a specialised Treasurer’s Current Account, while larger businesses are catered for separately by Santander’s Corporate and Commercial Banking arm.

1|2|3 Business Current Account

A Santander 1|2|3 Business Current Account offers businesses day-to-day banking services, 0.10% gross/AER monthly interest on credit balances, and up to £300 cashback a year. An account comes with a standard £12.50 a month fee (compared to ANNA’s £0 Pay As You Go plan), but a discounted fee is available for a limited time if you’re a start-up business in your first year of trading, or switching from another business current account to a 1|2|3 Santander Business Current Account. 

Business Current Account

The Santander Business Current Account is designed for start-ups, established businesses and those who already hold a Santander Business Current Account. Fees are £7.50 a month, discounted to £0 for the first 18 months if you’re a start-up in your first year of trading. Holders of this kind of account can access their account online, via the Mobile Banking app, at ATMs and in Post Offices.

Treasurer’s Current Account

This type of Santander business account offers day-to-day banking services for clubs, societies and charities. As long as your turnover is under £250,000, this type of account is free, and includes online and in-app banking options.

Santander business account review: Key Features

If you’re the tl;dr type, you’ll want to see the key features of both types of Santander business bank account laid out in one handy summary – so here’s the overview you’re looking for. 

Cashback

With a 1|2|3 Business Current Account you can earn 1%, 2% or 3% cashback, depending on your annual credit turnover, up to £300. You can also earn 0.10% gross/AER monthly interest on any credit balances.

Easy access

Santander business account holders of all kinds can access online and mobile banking, and banking at cash machines and Post Offices, while 1|2|3 account holders can also visit the counters at over 8,000 Santander branches across the UK. 

Overdraft facilities

When you apply for a Santander 1|2|3 Business Current Account or Santander Business Current Account, you can also apply for a business overdraft of up to £25,000. 

Cash withdrawals

On those days when only cash will do, you can withdraw up to £500 from your account. If you want to withdraw more, there’s a sliding scale of fees involved – while with ANNA, you can access up to £1,000 in cash from your account via ATMs. 

Santander Business Current Account pros & cons

Pros

Cons

What are the requirements to open a Santander Business Account? 

To apply for a Santander business account, you need to fulfil the bank’s eligibility criteria.

To open a Santander Business Current Account or 1|2|3 Business Current Account:

To open a Treasurer’s Current Account:

What documents do I need to provide to open a Santander Business Account?

To open any type of Santander business account, you have to provide proof of identity and proof of UK address for everyone associated with your business. Proof of identity could include a passport or in-date UK photocard driving licence, while accepted proof of address includes your driving licence, utility bill or council tax bill. 

You’ll also need:

If you’re switching from another bank, you’ll also be asked to supply your last business banking statement. 

How much does a Santander Business Account cost?

The cost of a Santander business bank account depends on a few factors, including whether you’re a start-up or switching to a Santander business account from another bank, and which type of account you choose. 

Here’s a round-up of the principal fees you need to know about before you take the plunge. 

Santander monthly account fees

If you choose the 1|2|3 Santander business account and you’re a start-up business in your first year of trading, you’ll pay £5 a month for 18 months before the standard £12.50-a-month fee kicks in. 

Those switching from other business current accounts to a 1|2|3 Santander Business Current Account using the Current Account Switch Service can get the discount for 12 months. 

If you go for a Business Current Account, you’ll pay nothing for 18 months if you’re a start-up, otherwise the standard monthly fee is £7.50. Meanwhile, Santander Treasurer’s Current Account is free – rather like ANNA’s handy £0 a month Pay As You Go plan, the business account with no monthly fees…

Santander international payment fees

Making an international payment electronically from your Santander business account will cost £25 per transaction (this service is free with an ANNA Pay As You Go plan, with a 1% currency conversion fee). Paying in Euros via electronic euros transfer / SEPA takes longer, but is free.

Santander local transfers in and out

Electronic CHAPS payments incur a £25 fee, while other electronic payments, including Faster Payments and SEPA, are free. CHAPS must be used for any payment over £100,000.

Santander pay cash in deposit

With a 1|2|3 account, there’s no charge for cash deposits at Santander ATMs, and no limit on the amount you can deposit. Depositing cash at Santander counters and at the Post Office is free for deposits of up to £1,000 per month, then costs 70p per £100 you pay in over the £1,000 limit.

With a Business Current Account, there’s no charge for cash deposits at Santander ATMs and at Post Offices of up to £1,000 per month, then it costs 70p per £100. If you’re taking advantage of the Business Current Account start-up offer, you can enjoy no charge and unlimited ATM deposits for 18 months.

Santander ATM withdrawals

You can withdraw up to £500 cash a day, for free.

Can you pay a cheque in an online Santander business?

You can pay in cheques in sterling from UK banks that are under £5,000 using the Santander Business Mobile Banking App. You can also use Santander cash machines or, if you hold a 1|2|3 Santander business account, you can pay-in cheques over the counter in branches. Foreign currency cheques are subject to a £10 charge.

ANNA vs Santander fees comparison

How to apply for a Santander Business Account

Currently, the only way to apply for a Santander business account is to call the Business Banking Direct service on 0330 678 2509.

Santander Business Account customer reviews

In February 2025, an independent survey of 1,200 Santander business current account customers was conducted. It revealed that 60% of Santander Business Account customers would recommend Santander to other SMEs, while 66% would recommend its online and mobile banking services.

Overall, Santander has a ‘bad’ 1.4 rating on TrustPilot, with negative reviews highlighting issues such as difficulties using various account services and accessing effective customer care (ANNA scores a ‘great’ 4.2 and offers customers award-winning, 24/7 human-led customer support. Just saying…).

Santander vs ANNA – a case study

Now we’ve seen how a Santander business account works – plus some of the perks you’d enjoy with ANNA – let’s see how an ANNA Big Business plan compares with a Santander Business Current Account. 

In this scenario, we’re imagining you’re a successful SME that on an average month has to make the following payments:

A Santander Business Current Account would incur the following fees:

Meanwhile, an ANNA Big Business plan would involve the following:

Santander vs ANNA – in summary

Overall, businesses that make regular international payments and need to make cash deposits of over £1,000 a month would be better off choosing an ANNA Big Business plan over a Santander Business Current Account.

Businesses interested in an ANNA plan can apply online rather than on the phone, for a smooth and speedy application process, and while Santander’s customer helpline is open at limited times during the week (and closed on Sundays) ANNA’s award-winning customer service, which is based in Cardiff and connects you to actual humans, is at your fingertips 24/7. 

ANNA also includes add-ons that take the stress out of dealing with taxes if you’re a limited company: with +Taxes, ANNA can sort out your corporation tax and VAT while you focus on building your business. 

It also offers really useful features such as payroll, credit and bulk payments, integration with accounting software such as Xero, and unlimited pots to help you separate your expenses. So (while we don’t like to brag) what ANNA has to offer your business is pretty hard to beat.

Summary table

Want to see everything at a glance? We’ve got it all laid out for you right here.

ANNA vs Santander features comparison table

Sources:

Santander Business banking T&Cs
TrustPilot
Santander 1|2|3 Business Current Account
Santander Business Current Account
Santander Treasurer’s Current Account