Santander UK and TSB apply to transfer the TSB business to Santander UK

• TSB proposes to transfer its business to Santander UK in the first quarter of 2027
• No immediate changes to the way customers bank with TSB and Santander UK
• Combined, Santander UK and TSB are the UK’s third largest bank by personal current account balances and fourth largest by mortgage market share

Following Santander UK’s acquisition of TSB on 30 April 2026, Santander UK and TSB are now applying to transfer the TSB business to Santander UK under Part VII of the Financial Services and Markets Act 2000. If approved by the High Court, the transfer is expected to take place on 22 March 2027. 

The proposed transfer would see TSB products and accounts legally transfer to Santander UK.

The proposed transfer is intended to simplify the Santander UK group structure and support the integration of TSB into Santander UK, enabling the combined bank to deliver enhanced products, services and customer experience over time.

Next steps

If the proposed transfer is approved, there will be no immediate changes to the way TSB customers bank with Santander UK.

Following the transfer, the integration of the two businesses will continue and some changes are expected to how TSB customers can use, access and manage their accounts as they migrate to Santander UK systems, platforms and channels in the second half of 2027. TSB customers will be updated about what to expect and when.

For TSB customers, moving to Santander UK already brings a number of benefits, including no TSB foreign exchange fees when they withdraw cash using their debit card at Santander ATMs in Spain and Portugal*, and advanced digital security protection that helps keep their money safe. Alongside this, Santander UK has confirmed there will be no further branch closures before 2028 at the earliest.

Mahesh Aditya, Chief Executive Officer, Santander UK, said:
“Our application to transfer TSB’s business to Santander UK is a further step on the journey to integrating the two banks. Combined, this will give us an even greater presence in the UK, where we will be able to invest more in giving our customers the products and high-quality service they deserve.”

Nicola Bannister, Chief Executive Officer, TSB, and Head of Distribution, Santander UK, said:
“We are building the best bank for customers in the UK, based on the values and strengths of both organisations. TSB customers will continue to be part of a locally focused UK bank, while also enjoying the global scale, stability and security of the Santander Group.” 

– ENDS –

*Some ATMs may still charge a fee, and foreign exchange rates will apply.

Notes to editors:

• To learn more about what the transfer means, including key dates, documents, and how to object, visit: tsb.co.uk/santander-update
• TSB Bank plc is currently a wholly owned subsidiary of Santander UK plc, and the two banks remain separate legal entities.
• Anyone who believes that they would be negatively affected by the transfer has the right to object by contacting TSB using the details below, attending the Court hearing in person, or appointing a representative to attend the hearing on their behalf.
•  Objections can be sent to TSB by:

  - Online form: tsb.co.uk/santander-update

 - Phone: 0345 835 7841 (or +44 203 284 1575 if calling from outside the UK). Lines will be open from 9am–5pm (UK time), Monday to Friday (excluding bank holidays)

 - Post: TSB Objections Team, Ingenuity House, Bickenhill Lane, Elmdon Trading Estate, Birmingham, B37 7HQ.

 - Attending the High Court hearing, taking place on 15 February 2027 at The Rolls Building, 7 Rolls Buildings, Fetter Lane, London EC4A 1NL, United Kingdom:

1. You can appoint a legal representative to attend for you – this would be at your own cost. 
2. Non-legal representatives can also attend but will need the Court’s permission to speak or have appropriate rights of audience to appear at Court.

• TSB has 5 million customers.
• TSB serves customers across mobile, internet, telephone and video banking.  
• TSB also provides personal support at 175 branches across the UK, alongside TSB Pods in shopping centres, pop-ups in local communities, and participating in banking hubs.