What happens after I open a savings account?
When your savings account is open, we’ll email you to let you know. You can log in and view all your open savings accounts on your Cash savings hub page. Here you’ll also be able to view any applications you’ve made which can’t proceed until you pay the deposit amount into your transit account on the ‘Pending savings accounts’ page.
If you’ve applied for a savings account and you’re waiting for your Cash savings hub to be set up, we will hold the application until the set-up is complete. When your hub is open and you have funded your transit account, the application will proceed.
You can cancel a savings account application before it is funded by emailing us at firstname.lastname@example.org.
If you apply for a fixed term savings account and the rate of interest or profit drops before the account is set up, we’ll email you. You’ll then have seven days to fund your transit account so that the application can proceed at the original rate. If you don’t fully fund your savings account within this time the application will be cancelled.
If you haven’t paid in the full deposit amount into your transit account within 60 days of applying for the savings account, the application will be cancelled.
- How does the Cash savings hub work?
- How do I find out my transit account sort code and account number?
- When can I close a notice account in my Cash savings hub?
- What is the make good policy?
- What is the minimum amount I need to deposit to open a Cash savings hub?
- How long do I have to fund a savings account?