Correspondence

CMA letter to Santander on breaches of the Retail Banking Order

Letter to Santander UK plc about its non-compliance with Part 6 of the Retail Banking Market Investigation Order 2017, relating to Alerts.

• From: Competition and Markets Authority
• Published: 24 May 2019

Documents

CMA letter to Santander UK plc

PDF, 94.2 KB, 2 pages

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Details

The CMA wrote to Santander UK plc regarding breaches of Part 6 of the Order. Santander breached the Order by charging around 20,000 customers holding either an Everyday Current Account or an Essentials Current Account for going into unarranged overdraft without first sending them an Alert. It refunded around £1.4 million of charges levied on affected customers.

See the retail banking market investigation case page for information on the investigation and the order.

Published 24 May 2019