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.
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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.