FAQs for savers

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These relate to our intention to withdraw from the UK banking market over the next two years. For our other FAQs, please visit our Manage Your Account page.

Is my money safe?
Yes. Your savings are safe, and your account and access to eBanking will continue to operate as normal.  Throughout this process your savings will continue to be protected by the Financial Services Compensation Scheme.

What do I need to do?
You don’t need to take any action. Your savings are safe, and your account and access to eBanking will continue to operate as normal.

Can I withdraw the funds from my savings account?
The terms and conditions of your account have not changed. If you have an eSaver account with us, you can withdraw your funds. If you have a fixed term account with us, you will not be able to withdraw your funds until maturity.

My fixed term account matures during 2022 - what will happen to it? 
Nothing will change and you do not need to take any action. Your account will continue to operate as normal and we will write to you closer to your account’s maturity date to explain your options.  

My fixed term account matures during or after 2023 - what will happen to it? 
We will return all savings customers’ deposits over the next two years, either on or before maturity dates. If your account matures in 2023 or later we’ll be in touch again in the coming months to explain next steps. In the meantime, your funds will be safe and your account will continue to earn interest as normal. 

The balance of my account is more than £85,000.  Can I withdraw it?
The terms and conditions of your account have not changed. If you have an eSaver account with us, you can withdraw your funds. If you have a fixed term account with us, you will not be able to withdraw your funds until maturity.

I have just opened a fixed term account and put funds into it. Can I change my mind and withdraw my funds?
As per our terms and conditions, once the duration of a fixed rate account is agreed, it cannot be changed. This means you will not be able to withdraw your funds until the end of your term.

I have just opened an account but not put funds into it. What happens?
You will have the period stated in your Product Summary (“the Funding Period”) to fund the account, or you can choose to close it.

Can I still make changes to my savings account while this is going on?
Yes. Changes can be made as normal. Visit our Manage Your Account page for full details and processes. 

Will I still have access to eBanking?
Yes, access to eBanking will continue. We’ll let you know if this is going to change.

Who do I contact if I want to speak to someone?
You can contact our teams in the normal way but following this announcement our phone lines may be busier than normal. Remember you can always send us a secure message through eBanking.