The average time to pay for SANTANDER FINTECH LIMITED has increased from 5 days in the first half of 2019 to 7 days in the first half of 2020.
The company's payment pattern has been relatively stable, with the percentage of invoices paid within 30 days consistently above 90% and the percentage of invoices paid between 31 and 60 days consistently below 10%.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2019 - 30 Jun 2019 | 12 Sept 2019 | 5 | 100% | 0% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Santander Fintech Limited payment terms are 30 days. There are no contracts for which there are longer payment terms and there have been no changes to this arrangement in the period.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
If a supplier has a dispute regarding payment, there is an established escalation and investigation process in place. Should the supplier remain unhappy at the outcome of the initial escalation and investigation, they can refer the matter to an independent body. Information regarding this process is included in the standard contract terms.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
SANTANDER FINTECH LIMITED is a dissolved private limited company, incorporated on 9 September 2014, based in the London region. Registered business activity: Financial intermediation not elsewhere classified.
From Companies House records.