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For many years, Santander has encouraged shareholders in the Santander Nominee Service to have their dividends paid by direct payment rather than cheque as it is a more efficient, secure, and environmentally friendly method of payment. Additionally, the Santander Nominee Service currently reissues around 60,000 payments a year to Santander shareholders who have not cashed their cheques before they expire, often incurring cheque reissue fees at the expense of the shareholder.

Direct credit is a method of payment whereby funds are paid directly to your UK bank or building society account as cleared funds on the dividend payment date. Over 600,000 shareholders who hold Santander shares through the Santander Nominee Service already receive their dividend payments in this way.

When you bank or building society details are applied to your shareholding any retained payment will be released straight away. There is a grace period of 30 days from when a dividend is paid where a payment can be re-issued or released free of charge. As long as you provide a bank or building society within 30 days of the initial payment date, it will be free of charge. If after 30 days, you can find the fee structure here.

If you register for electronic communications, you will be sent an electronic notification on the day the dividend is paid. If you are not registered, you will receive an annual consolidated dividend statement by post setting out details of all cash dividends paid to you in the previous twelve months. These statements are currently sent in May each year.

Yes, you can. As a shareholder in the Santander Nominee Service, the Santander Dividend Re-investment Plan (DRIP) is a simple way to use your Santander cash dividend payments to increase your shareholding. Instead of receiving dividend payments into your bank account, you can build up your Santander shareholding by using your dividends to purchase further Santander shares. The DRIP is a convenient, easy, and cost-effective way to do this. Click this link for more details.

Please note that you should still give us your bank or building society details so that any dividend distributions due to you that are not standard cash dividends can be paid to you by direct credit.

If you do not provide this information, you will still receive an annual dividend statement. However, you will not receive the money until your bank details are received, after which payment will be credited to your account as soon as possible. Your dividends will not accrue interest while they are being held for you and there may be a fee for the release of payments.

There is no fee charged by the Santander Nominee Service for this service.

You can nominate any UK bank or building society account.

Dividends will be paid into your nominated account on the dividend payment date.

By registering for a Santander Shareview Portfolio here, you can manage many aspects of your shareholding online, including updating your bank details. If you are a sole shareholder you can also update your bank details by calling the Santander Nominee Service.

If you do not have a UK bank or building society account, you may be able to arrange for payments to be converted and paid in your local currency using the Equiniti Overseas Payment Service. This service pays in over 83 currencies to over 90 different countries. To view the Terms and Conditions for the service and to download the applicable form, please return to the Direct dividend payments page or contact the Santander Nominee Service using the details shown below.

If you are registered with us as a legal representative or Power of Attorney, you may send us a written request to amend a dividend bank/building society mandate. It may be easier for you to complete a Change of Mandate form.

For security reasons, however, you will not be able to instruct us online or by phone. Your request should be sent to:

Santander Nominee Service
Aspect House
Spencer Road
Lancing
West Sussex
BN99 6DA
United Kingdom.

In most cases, we are unable to set mandated dividend payments to anyone other than the shareholder themselves. There are only a few exceptional circumstances when we will be able to do this, such as when the shareholder is deceased, where there is a Court of Protection Order, or when another type of Order is in place.

For security purposes, all mandate requests relating to corporate holdings need to be sent by post.

Download and complete a Corporate Mandate form.

Please ensure you follow the instructions on the form carefully and then post this to:

Santander Nominee Service
Aspect House
Spencer Road
Lancing
West Sussex
BN99 6DA
United Kingdom. 

If you are unable to download, print or complete the form, we will accept a written instruction on company-headed paper.

Please ensure that the following information is included:

• Document must be signed in accordance with Section 44 of the Companies Act 2006. That is:
  
  • Signatures of two Directors or
  • 1 Director and 1 Secretary or
  • 2 Authorised Signatories or
  • 1 Authorised Signatory and Company Seal or
  • 1 Director and 1 Witness
  Capacity of signatories must be stated
• Full Bank Account Number, Sort Code and Reference Number (if applicable);
• Name and address of corporate shareholder;
• Shareholder Reference(s) in which the shares are held (this can be found on the Santander Nominee Service statement or on any previous correspondence we have sent you).

The instruction will also need to be bank stamped or alternatively, please provide a bank/building society statement or paying in slip that confirms the bank details quoted.

Please note:

• Most banks use a BACS payment system; the system we use for direct payment. Some banks do not offer this service. When this is the case, we arrange for cheques to be sent directly to the registered address.
• The provision of bank / building society mandate details will not replace any existing SCRIP details currently applied to your shareholding.

We will process your mandate request within 5 business days from receipt of your form. No letter will be sent from us to confirm that the mandated account details have been applied. This should not be of concern.