TSB accounts to move to Santander UK on 22 March 2027 if the High Court approves the transfer
Account numbers, cards and PINs stay the same, but customers with savings at both banks will share a single £120,000 FSCS limit once the move takes effect.
By Daily Oracles News Team2 min read
TSB's banking business is due to be transferred to Santander UK on 22 March 2027, provided the High Court approves the move at a hearing on 15 February. Santander UK announced on Tuesday that the two banks lodged the application on 30 October under Part VII of the Financial Services and Markets Act 2000.
The scheme would move substantially all of TSB's business, apart from certain assets and liabilities, and Santander UK plc would become the legal provider of TSB customers' accounts, products and banking services. TSB has been part of the Santander group since 30 April 2026 but remains a separate bank within it.
What stays the same
TSB says nothing changes for now and customers can carry on banking as normal. After the transfer, account numbers, cards and PINs would stay as they are, as would contact details and customer service. Payments would also continue unchanged, with one exception: Direct Debits made in euros.
TSB plans to bring accounts across to Santander's systems, platforms and channels in the second half of 2027, and says it will give notice of any changes that affect customers at that stage.
Deposit protection and ISAs
The Financial Services Compensation Scheme covers eligible deposits up to £120,000 per eligible person, per bank, and treats banks that share a banking licence as one bank. Because TSB and Santander UK are currently separate banks, someone with money in both is covered up to that limit at each.
Once Santander UK becomes the legal provider of TSB accounts, all eligible deposits across the two would be added together and covered up to £120,000 in total. The same combined limit takes in cahoot, Santander Business and Santander Corporate & Commercial, which all sit under the same banking licence. TSB has published guidance for customers whose combined balances are close to or above that figure.
Santander UK would also take over from TSB as ISA manager, and the accounts would keep their tax-free status. Customers who would rather not have Santander UK manage their ISA can look at the options on TSB's website for moving it elsewhere.
The transfer would also hand Santander UK some contractual rights under TSB's account terms that it does not hold now. TSB says the scheme limits how those rights can be used.
How to object
Anyone who believes the transfer would affect them negatively can object. TSB lists four routes: an online form, the phone line on 0345 835 7841, a letter to the TSB Objections Team at Ingenuity House, Bickenhill Lane, Elmdon Trading Estate, Birmingham B37 7HQ, or help with the form in any TSB branch. People can also attend the hearing at the Rolls Building on Fetter Lane in London, or send a representative.
TSB has asked for objections to reach it before 5 February 2027. None can be lodged after the hearing. A summary of all objections will go to the court, the Prudential Regulation Authority and the Financial Conduct Authority.
The scheme document, an explanatory statement and the formal notice can be requested free of charge until the hearing date. In the meantime, TSB says there will be no further TSB or Santander UK branch closures before 2028.
