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Santander Merchant Account Review 2018

Santander is a multinational banking group based in Spain. Santander offers merchant services in cooperation with First Data Merchant Services. The comprehensive list of services and solutions offered includes face to face payments, online transactions and reporting solutions, as well as additional related services.

Santander is one of the biggest names in banking and can provide specialist solutions for merchants in the hospitality, retail and healthcare industries.

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Accepting card payments if you have a Santander business account can be done either via a traditional chip & PIN card payment terminal or via mobile payments using a reader.

Following are two card payment solutions from Santander for small businesses.

Face to face card paymentsCard payment Terminals from ElavonCountertop, mobile and portable card machine options
Face to face card paymentsMobile Payments from iZettleMobile card reader which can be plugged into the headphone jack of an iPhone or Android device

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Card Payment Terminals from Elavon

Santander has partnered with Elavon to provide card payment services for small businesses. Customer service for card payment terminals are handled by Elavon.

Elavon terminals can be fixed, portable or wireless.


The main advantage of using Elavon card terminals with Santader is better cashflow because funds from card payments are paid into the Santander business account the next day (subject to terms).

  • iMerchantConnect online reporting tool to analyse sales.
  • Fraud protection and security.
  • Santander's Merchant Acquiring Service supports multi-currency transactions.
  • Online gift cards are available.
  • No limit for value of transactions paid in per day.
  • Supports dynamic currency conversion.
  • Secure payments.
  • Merchant services customers receive a contactless chip & PIN terminal as standard.

Mobile Payments from iZettle

Santander offers a mobile card payment reader through iZettle for small businesses requiring to accept payments on the move or at events.


  • Chip & PIN reader accepting all major debit and credit cards
  • Reader connects to smartphones or tablets via Wifi or 3G coverage
  • Up to £500,000 per day in card payments
  • Funds from card payments cleared in 3 business days (4 days for balances above £25,000)


The card reader costs £59. There is a pay as you go transaction fee of 2.75% (volume discounts can be applied; fee is higher for transactions entered manually).


  • Pay-as-you-go contract.
  • Online sales reports.
  • No monthly fees

In the US, Santander uses a different model: a small card reader for mobiles called Pogo which is supplied free of charge.

Santander Card Payment Solutions for Enterprise

Tailored packages are available to accept card payment for large businesses with a turnover above £250,000. Santander Corporate & Commercial provides the following services for large businesses:

  • Day-to-day banking
  • Financing
  • International trade
  • Specialised finance
  • Instant and bonus accounts for surplus funds
  • Global businesses can benefit from payment platforms featuring fraud prevention and security management tailored to their needs.


The key advantage of using Santander merchant services for card payments is the next day clearing of funds from card transactions (excluding mobile payments). This is a particularly attractive benefit because normally payments are cleared in 3-4 business days with other providers.

Online reviews on Santander's business card payment services are not available; however, confidential reviews from Santander employees are available – the most common comment is that the organisation can be very hierarchical, with key strategic decisions being taken by Grupo Santander in Madrid.

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