Opening an Account

Personal Accounts 

All our personal savings accounts can be opened online (except our Cash Child Trust Fund account), by post, or at any of our branch and agency offices. When you apply to open an account with us, we’ll ask you for proof of your name and address, and an electronic check of your identity will be undertaken. This is required by law to verify the true identity of all new and existing customers. Identity checks are an important part in the fight against terrorism and other criminal activities.

To help speed up this process and to make it as easy as possible we will usually use an electronic verification system which can confirm your identity. Depending on whether you open your account in person (face-to-face) or by post (non face-to-face) different information may be required. Also, if you are not on the electoral roll or have recently moved house, we may need further proof of your identity.

If you have difficulty providing any of the information required or require further assistance please, contact us or use our call me back facility. Existing Society customers will be asked to confirm their details and to provide any information to meet the latest identification requirements.

If after opening an account you feel that it does not meet your requirements, let us know within fourteen days and we will, without notice or penalty, transfer or refund your money plus interest. This facility does not apply to fixed interest rate investments or Child Trust Fund accounts.

Please note that special conditions apply when opening a Cash Child Trust Fund.

If you are opening an account on behalf of a person who lacks the capacity to make decisions, please click on the links below for further information:

BSA Publication: Guidance for people wanting to manage a bank account for someone else

Banking for people who lack capacity to make decisions

As part of the account opening process please read the following important information: Agreement to assign windfalls to charity

Non-Personal Accounts (e.g. corporate, charities and clubs)

Customers who wish to open a corporate account will need to provide identification of both name and permanent address for all of the signatories authorised to operate the account, and an electronic check of each signatory’s identity will also be undertaken. This is required by law to verify the true identity of all new and existing customers. Depending on whether you open your account in person (face-to-face) or by post (non face-to-face) different information may be required.

Also, we require sight of official documentation bearing the name of the organisation/ club/ society/ charity e.g. a copy of your constitution or Memorandum and Articles of Association. For limited companies, the original Certificate of Incorporation and latest annual return to Companies House are also required. For registered charities, please provide your registered charity number, which will be checked against the Charity Commission records at the time of opening an account.

The minimum opening investment is £5,000 for our Corporate Direct and Charities and Clubs Direct accounts. The opening deposit must be drawn by cheque from the account nominated for online withdrawals. The opening cheque should be made payable to your organisation.

If you require further assistance please contact us or use our call me back facility.

 
 


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