Guidance

Retail Banking unarranged overdraft alerts: Directions to Santander

Directions issued to Santander about rules on providing alerts to customers on unarranged overdraft charges.

• From: Competition and Markets Authority
• Published: 29 November 2019

Documents

Directions to Santander

PDF, 288 KB, 13 pages

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Santander action plan (if Part 6 of the Order is revoked)

PDF, 97.3 KB, 2 pages

Santander action plan (if Part 6 of the Order is not revoked)

PDF, 155 KB, 2 pages

Details

Santander has breached Part 6 of the Order by failing to provide Alerts to customers before those customers received charges in relation to unarranged overdrafts.

In total, there were 6 breaches, which have lasted since this part of the Order came into force in February 2018.

News story: HSBC and Santander to refund customers after CMA action

Published 29 November 2019