TSB customer? You may be moved to Santander in future – here's what's happening
TSB savers and borrowers could become Santander customers in future under a new takeover deal agreed on between the two banks. But it's still early days and there's NO change for existing customers of either bank right now.
Santander has agreed to buy TSB for £2.65 billion, saying it "intends to integrate TSB into the Santander Group". The deal is expected to complete in the first three months of 2026, subject to approval by regulators and shareholders.
If it goes ahead, all of TSB's five million customers – including those with current accounts, loans, savings, mortgages and more – would be taken on by Santander. It's unclear yet whether the TSB brand would remain.
Santander wouldn't confirm or deny whether bank branches will close as a result of the takeover. Currently, TSB has 174 branches across the UK, while Santander has 349 branches – though both have announced closures for 2025/26.
Santander or TSB saver? There's currently no change to your savings protection
There's no change to your current safe savings limit with either bank, for now. All UK regulated savings get the usual up to £85,000 per person, per institution savings safety protection.
This means in the unlikely event the bank or financial institution went bust, your capital and interest is protected up to that amount.
The crucial point here though is "per institution". Currently, Santander and TSB are separate institutions and this remains the case for now – though this could change in future if the sale is approved, which would mean you'd only get a combined £85,000 safe savings limit across the two brands.
See How to save in 100% safety. You can also use our tool to Check which banks are linked.
Other products and services also remain unchanged for now
For the time being, there's NO change to Santander or TSB products or services – you can continue to use them as normal.
You can also continue to reach out to Santander customer services and TSB customer services with any queries or complaints.
Of course, in the meantime, it could be worth taking this opportunity to check you're getting the best possible deal on your banking products and services – see our guides on:
Before switching, remember to check for any exit fees or penalties.
Additional reporting by the Press Association.
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8 July 2025
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