How do I close my savings account?
The way in which you close your account, depends upon the type of savings product you have with us.
You can close your account over the telephone. Funds will be sent to your nominated bank account via electronic payment. Please note we are unable to close a post/telephone account at any of our branches.
Alternatively, you can write to us using the following address:
Investment Transaction Team
2 Providence Place
You can close your account in person at a branch using your passbook. Please note, we will not able to process an account closure without your passbook. To find your nearest branch, click here.
To find out how to close a WeBsave account, please refer to 'Making Investments & Withdrawals' within the WeBSave Help Guide.
Processes for closing a savings account
These processes are in place to increase security for customers, therefore offering peace of mind knowing that your money is in safe hands.
A member of the Society may contact any customer who sends in a closure request for:
- An electronic payment of £50,000.00 and above
- Any closure request accompanied by new bank details.
We will complete a security check to verify the customer’s request before proceeding. The main scenarios where we may contact you are detailed above although there may be other reasons when we will need to contact you and complete additional security checks before we process a closure request. It is therefore very important that you provide a contact telephone number as the instructions will not be processed unless we are able to speak to you.
- Do any charges apply to your savings accounts?
- How do I close my savings account?
- How do I make a Standing Order payment to my account?
- How do I make withdrawals from my savings account?
- How do I pay money into my account?
- How long does an electronic payment take?
- How much can I withdraw from my savings account at any one time?
- What are your current savings interest rates?
- What is a Tax Identification Number?
- What to do if I have lost my passbook?
- Do you issue cheques payable to a third party?