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Further information on Santander’s proposed acquisition of TSB
TSB’s owner, Sabadell, has announced that it will sell TSB to Santander, subject to regulatory approval.
It is business as usual for TSB customers while this process takes place, and you don’t need to take any action. You can continue to use your accounts as normal and we will communicate any developments as needed.
You can read more about the announcement and what it means below.
No action is required by you as a result of this announcement. It is very much business as usual for TSB customers and colleagues while this process takes place, and TSB continues to be a full-service bank focused on serving our customers well. We will keep you updated on further developments as we go through this process to support a smooth transition for TSB customers.
Sabadell shareholders approved the sale of TSB to Santander on 6 August, but the sale is not yet completed. This is one part of an ongoing approvals process that is anticipated to take until early next year.
While this process takes place, it’s very much business as usual for TSB customers and you can continue using your TSB account(s) exactly as you have been – making payments, managing savings, loans or mortgages, and accessing services.
You’ll still receive excellent service and the same great range of banking products and competitive rates, throughout this period.
There are no changes to TSB branches, and we will always communicate with customers if there are any changes that impact them.
Both TSB and Santander have their own banking licenses. Customers with savings in both TSB and Santander will benefit from the maximum £85,000 protection offered by the Financial Services Compensation Scheme both on their TSB account and their Santander account.
Unfortunately, fraudsters often take advantage during times of change to try and persuade people to share personal or financial information. While we may share updates with you during this process, we’ll never ask you for security details, over the phone or by email, so if someone does – please don’t share this information with them. All emails from TSB will be sent from an email address ending in ‘@tsb.co.uk’. You can find more guidance in our Fraud Prevention Centre.
TSB is a truly special bank, run by a first-class team that deliver trusted service and support for customers, day in and day out, and Santander see it as a successful business that will strengthen the value that they deliver for customers. With strong and sustained financial performance, this represents the next exciting chapter for TSB, and we look forward to being part of Santander.
