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March 30, 2020

Covid-19: Santander UK introduces support package for impacted customers

Santander UK has launched a suite of new support measures for personal and business customers in the wake of the coronavirus (Covid-19) crisis.

The new support measures are aimed at providing financial aid to the impacted customers.

Financial support

Customers will get financial support across mortgages, savings, business loans, credit cards and agreed overdrafts.

The bank said that affected customers can apply for a three-month payment holiday on mortgages.

Customers in need of extra cash can avail fixed terms savings account which comes without penalties.

The bank has also decided to offer tailored support to its business customers including capital repayment holidays, additional liquidity across overdrafts, working capital, and trade finance and loan facilities.

Business customers can apply for loans by participating in the Coronavirus Business Interruption Loan Scheme (CBILS) in conjunction with the British Business Bank.

On credit cards usage, the bank has removed late fees and cash advances starting from 30 March 2020.

Furthermore, the bank is providing a £350 interest-free overdraft buffer for three months starting from 6 April 2020.

Santander added that it will continue to review additional support measures for those facing financial difficulties amid the coronavirus crisis.

Other support measures

Santander has deployed an online chat service on its website to help customers get in touch with the bank.

The bank has advised customers to leave the phone lines for those in urgent need of help and use the online chat service whenever possible.

The chat service can also be accessed via mobile app and online banking. Customers can also contact the bank through email and social media channels.

Santander UK retail and business banking CEO Susan Allen said: “At this time it is really important that we are available to those who most need us.

“Many of these measures will be applied automatically and details can be found on our website.

“We urge customers to only contact us by phone if they need urgent support or they have no other means to get in touch – for other customers our online chat service is available to help answer questions.”

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