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The WikiFX Score of this broker is reduced because of too many complaints!

Santander

United Kingdom|Above 20 years|
Regulated in United Kingdom|Market Making(MM)|Global Business|High potential risk|

http://www.santander.co.uk/

Website

Rating Index

Influence

Influence

AAA

Influence index NO.1

United States 7.97

Surpassed 14.97% brokers

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Contact

+44 0800 389 7000
http://www.santander.co.uk/
2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

English

+44 0800 389 7000

Broker Information

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Company Name

Santander UK plc

Company Abbreviation

Santander

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

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WikiFX Risk Alerts 2
Previous Detection : 2024-03-29
  • The number of the complaints received by WikiFX have reached 8 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The current information shows that this broker does not have a trading software. Please be aware!

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    Santander · Company Summary

    Company Name Santander UK Plc
    Regulatory Status Regulated by the Financial Conduct Authority (FCA) with License No. 106054
    License Type Market Making (MM)
    Effective Date December 1, 2001
    License Type No Sharing
    Website Santander UK Plc
    Email Address customerservices@santander.co.uk
    Address 2 Triton Square, Regent's Place, London NW1 3AN, UNITED KINGDOM
    Phone Number 448003897000
    Products and Services Current Accounts, Mortgages, Credit Cards, Savings and ISAs, Investments, Insurance, Personal Loans
    Customer Support Telephone (1-877-768-2265), Live Chat, ATM/Branch Locator
    Customer Support Hours Mon - Sat, 8 a.m. to 8 p.m. EST
    International Calls Local number for customers outside the United States: 1-401-824-3400

    General Information

    Santander UK is a large retail and commercial bank based in the UK and a wholly-owned subsidiary of the major global bank Banco Santander. It is registered in England and Wales, authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. It manages its affairs autonomously, with its own local management team, responsible solely for its performance. It has its origins in three constituent companies—Abbey National, Alliance & Leicester and Bradford & Bingley—all former mutual building societies. It is one of the leading personal financial services companies in the United Kingdom, and one of the largest providers of mortgages and savings in the United Kingdom.

    regulation

    Regulation

    Santander UK Plc is a regulated institution under the jurisdiction of the United Kingdom's Financial Conduct Authority (FCA) with License No. 106054. It holds a Market Making (MM) license type and has been regulated since December 1, 2001. The institution operates with the license type of “No Sharing.” You can contact them via email at customerservices@santander.co.uk and find more information on their website: https://www.santander.co.uk/. The regulatory status does not specify an expiry date, and Santander UK Plc is located at 2 Triton Square, Regent's Place, London NW1 3AN, UNITED KINGDOM, with a phone number of 448003897000. Certified documents related to their regulatory status are not provided in the information provided.

    regulation

    Pros and Cons

    Santander offers a wide range of financial products and services to cater to diverse customer needs. However, it's essential to consider both the advantages and disadvantages when evaluating their offerings.

    Pros:

    1. Comprehensive Product Range: Santander provides a diverse selection of banking, investment, insurance, and borrowing options, allowing customers to find suitable solutions for their financial goals.

    2. Accessible Customer Support: Customers can easily reach Santander's support through telephone, live chat, or the ATM/Branch Locator. The extended hours of operation and accessibility options accommodate various needs.

    3. Regulated Institution: Santander is regulated by the UK's Financial Conduct Authority (FCA), providing customers with confidence in their financial stability and adherence to industry standards.

    Cons:

    1. Monthly Fees: Some of Santander's current accounts come with monthly fees, which may not be ideal for individuals seeking fee-free options.

    2. Complexity: With numerous products and services, navigating Santander's offerings can be overwhelming for some customers who may prefer simpler banking solutions.

    3. Eligibility Criteria: Eligibility criteria apply to certain products, such as personal loans, which may limit access to individuals who do not meet specific income or credit requirements.

    Here is a table summarizing the pros and cons of Santander:

    Pros Cons
    • Comprehensive range of financial products and services
    • Some current accounts have monthly fees
    • Accessible customer support options
    • Complexity in navigating numerous offerings
    • Regulated institution, ensuring financial stability
    • Eligibility criteria may limit access to some products

    Market Instruments

    The Santander UKs segments include Retail Banking, Corporate & Commercial Banking and Corporate & Investment Banking. The Retail Banking segment offers a range of products and financial services to individuals and small businesses, through a network of branches and automated teller machines (ATMs), as well as through telephony, digital, mobile and intermediary channels. The Corporate & Commercial Banking segment offers a range of products and financial services include loans, bank accounts, deposits, treasury services, trade and asset finance for small medium enterprises (SME) and corporate customers. The Corporate & Investment Banking segment serves corporate clients and financial institutions.

    Here's a summary of their products:

    1. Current Accounts:

    • Santander Edge Up Current Account:

      • Earn cashback on selected household bills, supermarket, and travel costs.

      • Earn interest on credit balances up to £25,000.

      • Requires funding the account with £1,500 each month and setting up 2 active Direct Debits.

      • No charges for using the debit card outside the UK.

      • £5 monthly fee.

    • Santander Edge Current Account:

      • Earn cashback on selected household bills at supermarkets and travel spend.

      • Access to an optional savings account with exclusive rates.

      • Requires funding the account with £500 each month and setting up 2 active Direct Debits.

      • No charges for using the debit card outside the UK.

      • £3 monthly fee.

    • Everyday Current Account:

      • Simple and straightforward account with no monthly fee.

    • 1|2|3 Student Current Account:

      • Free 16-25 railcard for four years.

      • Interest-free overdraft of £1,500 for the first 3 years of studies.

      • Requires regular deposits of at least £500 every 4 months.

    • 1|2|3 Mini Current Account:

      • Designed to help children and young people learn money management.

      • Offers interest on balances at certain thresholds.

      • Choice of contactless debit card or cash card.

    • Basic Current Account:

      • Suitable for those with poor credit history or newcomers to the UK.

      • products
    1. Mortgages:

    • Services for first-time buyers, home movers, and those looking to remortgage.

    • Options for changing lenders, borrowing more money, and managing existing mortgages.

    • Later life mortgages for individuals aged 55 or over.

    • Partnership with ufurnish.com for home furnishing experiences.

    products
    1. Credit Cards:

    • Range of credit cards for various needs, including:

      • All in One Credit Card

      • Long Term Balance Transfer Credit Card

      • Everyday No Balance Transfer Fee Credit Card

      • Santander World Elite™ Mastercard®

      • products
    1. Savings and ISAs:

    • Savings and ISAs for different goals, including:

      • Easy Access Saver

      • Regular Saver

      • Santander Edge Saver

      • Easy Access ISA

      • Fixed Rate ISAs

      • Fixed Term Bonds

      • Junior ISA

      • Inheritance ISA

      • products
    1. Investments:

    • Investment options with cashback incentives.

    • Investment Hub for online advice and fund selection.

    • Investment advice and resources available.

    products
    1. Insurance:

    • Home insurance, including contents insurance for renters.

    • Life insurance, including critical illness cover.

    • Health insurance.

    • Mortgage life insurance.

    • Family and lifestyle insurance.

    • Over 50s Life Insurance.

    • Car insurance, including electric vehicle insurance.

    • Travel insurance.

    • Business insurance and landlord insurance.

    products
    1. Personal Loan:

    • Personal loans with fixed interest rates.

    • Loan amounts from £1,000 to £25,000.

    • Flexible repayment terms.

    • Loan eligibility criteria apply.

    products

    Santander provides a comprehensive range of financial products and services to cater to their customers' banking, investment, insurance, and borrowing needs.

    Accounts

    Six digit account sort codes are used in the range between 09-00-xx to 09-19-xx. Sort codes for accounts formerly held by Alliance & Leicester use the range 09-01-31 to 09-01-36.

    Credit Rating

    In October 2011, Moody's downgraded the credit rating of twelve financial firms in the United Kingdom, including Santander UK, blaming financial weakness. In June 2012, Moody rated Santander UK as being in a more financially healthy position than its parent company, Banco Santander.

    Deposit & Withdrawal

    In November 2009, Santander launched the first current account in the United Kingdom without fees (including unauthorised overdrafts) for its current and future mortgage customers. In January 2010, the bank began waiving fees for customers using Santander's automated teller machines in Spain, which traditionally would incur fees for transactions in a foreign currency.

    Accepted Countries

    Santander's Corporate and Commercial Banking division operates from a number of regional business banking centres across the United Kingdom. Less than 1% of Santander UK's business is held abroad.

    Customer Service

    Santander has frequently been rated the worst bank for customer service in the United Kingdom, although by July 2011 had sought to improve, notably by returning call centre operations to the United Kingdom from India. Its '123' product range was ranked third best in the United Kingdom in 2013, and in a moneysavingexpert.com poll in February 2014, customers ranked their satisfaction higher than with any of other main high street banks.

    Santander's customer support offers several ways to contact them and obtain assistance:

    1. Telephone Support:

    • Customers can reach a Customer Service Center Advisor at 1-877-768-2265.

    • Hours of operation are from 8 a.m. to 8 p.m. EST, Monday to Saturday.

    • For customers with hearing/speech impairments, there is a dedicated relay service at 7-1-1.

    1. International Calls:

    • For customers calling from outside the United States, there is a local number: 1-401-824-3400.

    1. Live Chat:

    • Customers can use the live chat feature on the Santander website to get real-time assistance with their inquiries or problems.

    1. ATM/Branch Locator:

    • For information on ATM and branch locations as well as their hours of operation, customers can use the ATM/Branch Locator on the Santander website.

    Santander's customer support is accessible through various channels, including phone, chat, and online resources, ensuring that customers have multiple options to address their banking needs and inquiries. The telephone support hours are accommodating, and they provide accessibility options for customers with hearing or speech impairments.

    support

    Summary

    Santander UK Plc is a regulated financial institution under the United Kingdom's Financial Conduct Authority (FCA) with License No. 106054. They offer a diverse range of financial products and services, including current accounts, mortgages, credit cards, savings and ISAs, investments, insurance, and personal loans. Santander provides accessible customer support through telephone, live chat, and an ATM/Branch Locator, ensuring customers have various ways to seek assistance with their financial needs. Their customer service hours are from 8 a.m. to 8 p.m. EST, Monday to Saturday. Santander's comprehensive product offerings aim to meet a wide array of customer banking and financial requirements.

    FAQs

    Q: What types of current accounts does Santander offer?

    A: Santander offers various current account options, including the Santander Edge Up, Santander Edge, Everyday Current Account, and specialized accounts for students and children.

    Q: How can I contact Santander's customer support?

    A: You can reach Santander's customer support by calling 1-877-768-2265 for general inquiries. For international calls, dial 1-401-824-3400. Alternatively, you can use the live chat feature on their website.

    Q: Are there fees associated with Santander's current accounts?

    A: Some current accounts may have monthly fees, such as £5 for the Santander Edge Up Current Account and £3 for the Santander Edge Current Account. The Everyday Current Account, however, has no monthly fee.

    Q: What types of insurance does Santander offer?

    A: Santander provides a range of insurance options, including home insurance, life insurance, health insurance, car insurance, and travel insurance, catering to various coverage needs.

    Q: Can I apply for a personal loan from Santander?

    A: Yes, Santander offers personal loans with fixed interest rates. You can apply for loan amounts ranging from £1,000 to £25,000, with flexible repayment terms. Eligibility criteria apply, and you can typically get a decision within 5 minutes.

    News

    Santander Announces €1.46B Buyback & Dividend Hike

    NewsSantander Announces €1.46B Buyback & Dividend Hike

    2024-02-19 16:27

    Santander unveils a substantial €1.46B share buyback scheme and dividend hike. Discover how these strategic moves aim to fortify investor trust and drive shareholder value.

    WikiFX
    2024-02-19 16:27
    News
    Santander Announces €1.46B Buyback & Dividend Hike
    Santander Denies Breach of U.S. Sanctions in Iran-Linked Accounts Case

    NewsSantander Denies Breach of U.S. Sanctions in Iran-Linked Accounts Case

    2024-02-14 12:20

    Santander Asserts Compliance Amid Financial Times' Claims on Iran-Linked Accounts: Get the latest updates on the bank's stance and commitment to international financial regulations.

    WikiFX
    2024-02-14 12:20
    News
    Santander Denies Breach of U.S. Sanctions in Iran-Linked Accounts Case
    Santander Q4 Revenue, Fueled by Europe and Brazil

    NewsSantander Q4 Revenue, Fueled by Europe and Brazil

    2024-01-31 17:09

    Santander's Q4 net profit soars 28% to €2.93B, driven by robust lending in Europe and Brazil, surpassing analyst expectations and highlighting strategic growth.

    WikiFX
    2024-01-31 17:09
    News
    Santander Q4 Revenue, Fueled by Europe and Brazil
    Santander Mexico Digital Bank Launch

    NewsSantander Mexico Digital Bank Launch

    2024-01-24 17:11

    Santander Mexico's Openbank Launch: The path to digital banking excellence! Openbank's launch is imminent, revolutionizing Mexico's banking landscape. Stay tuned for the digital banking wave!

    WikiFX
    2024-01-24 17:11
    News
    Santander Mexico Digital Bank Launch

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    FX1655402577
    more than one year
    When I woke up this morning, there was an order placed on my account without my consent, causing me to lose all my money. I don't know who placed the order without my permission; I thought it was a legitimate company.
    2024-03-22 17:57
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    FX1633141967
    more than one year
    Santander trading platform: They abruptly cut off my access to funds, preventing me from trading. Additionally, I had set up a potentially lucrative trade, only to be asked to close it during an investigation period. This not only hindered my ability to make profits but also raised concerns about the reliability and transparency of their services.
    2024-02-28 18:45
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