Opening an account differs slightly depending on whether you are an existing customer or you're a brand-new customer.
You need to have registered to use myaccounts before you can open an account online.
If you want to open a joint account, both account holders will need to register for the myaccounts service.
Click the Apply now button in the Savings drop down menu.
You will be taken to our registration and application process.
We welcome savings applications from new or existing customers who live in England or Wales. Howewver, from time to time, we may reduce our geographical operating area for new customers opening accounts.
If you are new to myaccounts, should click the Register button, which can also be found at the top of our website or in the Savings drop down menu.
You will then need to provide us with some details, and we will email you a username and a link to set up your security information.
You will also receive a verification code from us in the post. Once you have received this, please login to your myaccounts profile, enter in the code and you will be given an option to apply for a new savings account.
If you have already registered, should click Login button, which can also be found at the top of our website or on the Savings drop down menu.
Once you are logged in you will be given an option to apply for a new savings account.
Applying is simple and should only take about 10 minutes. There are a few things you need to be aware of before you apply for an account online:
You must be aged 18 or over.
You cannot open an account on behalf of another person e.g. as an Attorney.
Unless you are an existing member you must live within our operating area
For joint accounts, the second account holder will need to register for myaccounts after your application has been accepted.
You will need:
Account details for the nominated UK bank or building society current account you wish to transfer money to.
If you have lived at your current address for less than 3 years, your previous address details, including postcode.
Your National Insurance Number (from a paylisp, P60 or HMRC notification).
Your Tax Identification Number ('TIN') if you have one for a country outside the UK
If you are applying for a joint account, you will need the above details for the second account holder. If you have agreed with the second account holder to use your current account as your nominated account, you will not need these details
Click on open a new account
Select whether single or joint
Choose the account you want to open. You can read more information about the features of each account here.
You will be asked to provide details of your nominated account – where you want the money to be sent when you make a withdrawal.
You will be asked how much you intend to deposit. You’ll also be told here what the minimum and maximum account balances are for the savings account you have chosen.
You’ll be asked to read several documents including our Terms and Conditions to ensure you are aware of your rights and obligations.
You’ll be asked to submit your application, and we will check your identity electronically. If we need any further identification from you, we will let you know on the next page. If we do not need anything else from you, you will be directed to your myaccounts profile where you will see your new account.
We may require you to upload documentation to prove your identity and current address. You will be given instruction show to do this.
You will be able to see an overview of your account. We will post you averification code within 5 working days. Once received you’ll be able to log back in, enter the code and start transacting on your account.
We have a responsibility to verify the name and address of all customers wishing to open an account.
Identity checks are standard practice, designed to protect your funds from fraudulent activity. Wherever possible, we use an electronic verification process to check identity.
In most instances, this removes the need for us to request paper identification from customers. Where an electronic identity check does not work, you may be asked to send in further identification.
We take the security of your information very seriously and therefore, as part of the registration procedure, we need to post a verification code to you which will enable you to view and transact on your account.
We will only issue the verification code to your registered address. Once you have completed your registration and entered your verification code, you will be able to view your existing accounts with us, transact on accounts (where the terms and conditions allow), register your nominated account and manage your security/personal details.
You should receive your verification code in the post within 5 working days. If you have not received it within 5 days, please contact us on 0800 988 4857.
We need to process and approve your application before you make your first deposit.
Once we have processed your application, we will send you a secure message to confirm your account is open and ready for you to make your deposit, or whether we need further information.
All our accounts have a “cooling-off” period which enables a customer to cancel their account opening. This period is 14 calendar days.
If you wish to cancel your account opening, please write to us (myaccounts team, 90 Bartholomew Street, Newbury, Berkshire, RG14 5EE) detailing why you wish to cancel your account.
Please let us know if you would like to discuss an alternative account for your needs and we will arrange for a savings advisor to contact you.