FAQs

Your Frequently Asked Questions answered by the experts

Frequently Asked Questions

APPLYING FOR AN ACCOUNT

Am I eligible?

Our accounts are open to UK residents aged 18 and over. You just need a valid UK address and a UK current account in your name which you can use as your Nominated Account.

What checks do you do?

As a responsible bank, it’s important for us to know who our customers are. We’ll ask questions to help us do this and so we'll try to verify your address and identity using automated systems during the application process. If our systems can’t verify you, you’ll need to send further evidence by post (we’ll let you know at the end of the application process if you need to do this).

Can I complete a paper or telephone application?

All account applications must be made online.

If you need help to go through the application, give us a call on 08456 460 460 and we'll happily talk you through it.

What documents can I use as proof of my identity and address?

It’s important that we know who you are and how to get in touch. This helps us contribute to international standards and helps build a more secure and sustainable banking industry.

Where possible, we’ll check your details using online databases. Sometimes we’re not able to verify details this way and so we need to check your details some other way; we’ll ask to see evidence of your identity, address or both.

Please see our list of acceptable documents to find out what you need to send us. Click here to find out more.

Send these documents to:

FREEPOST Bank North,
Wallsend,
NE28 5ET.

You only need to send copies of documents, not originals.

Remember… we can’t accept printed copies of internet banking statements but we will accept PDF downloads of internet banking statements.

What if I change my mind?

You can change your mind within the first 2 days from us receiving your initial deposit and close your Bank North account yourself online or can do this in writing within the first 2 days from us receiving your initial deposit. If you don't add any funds to your account within 2 days of opening, we will close your account.

Any interest generated within the 2 day cooling off period prior to the account closing will be paid to your nominated account.

What is your postal address?

If you need to send us documents or would like to get in touch by post, you can.

Simply write to:
FREEPOST Bank North,
Wallsend,
NE28 5ET.

USING YOUR ACCOUNT

How do I log in to my account online?

Click here [link to OFIS log on page] to access your account.
You will need your User ID which you received with your welcome email, your personal password and characters of your memorable data.

If you have problems logging in, we can help! Call us on 08456 460 460.

What's a Nominated Account?

When you apply for an account, we'll ask you to 'link' a current account to your Bank North account. This will become your ’Nominated Account’; the account you'll use to make and receive payments to and from all your savings accounts with us. Your Nominated Account must be UK-based and in your name. 

You can only have one Nominated Account and this will be linked to all the accounts you hold with us. You can change your Nominated Account when logged into our online savings system - this can take several days to come into effect, but you'll be able to use your existing details in the meantime.

We'll only pay your money back to the Nominated Account. This is a simple idea but is very effective at protecting your hard-earned savings and offers extra peace of mind that your money can only ever be paid back to you.

Making payments into your account

You can transfer money from your Nominated Account using one-off electronic payments and regular standing orders, as well as from existing Bank North accounts in your name.

Simply make the payment in the normal ways your current account's bank allows, such as online, branch and telephone banking and set-up your new Bank North account as a new recipient using the details below.

Make your payment using the details we provided at account opening, also provided below for ease:

Account name: Bank North Limited

Sort Code: 04 06 35

Account Number: 00000034

Payment reference: (use the seven digit account number we provided at account opening or in emails from us).

Please include the payment reference so we know it's you. If your payment reference is missing or wrong we'll send the funds back to you.

The payment reference is important because it will link the payment to an account of the person sending the payment, so make sure to reference it when prompted.

Making withdrawals from your account

You can make withdrawals to your Nominated Account as long as your Additional Product Terms and Conditions and your account balance allow. Just log into our online savings system, choose the account you want to withdraw money from and click 'Make a transfer'.

Any money you withdraw before 2pm on a business day will be in your Nominated Account the same business day. If after 2pm, it will be the following business day.

Can I personalise my account?

Of course! You can personalise the name of each of your accounts to help you save. Just log in and choose the account you want to personalise.

What are the timescales for transferring money into my account?

As money is paid into your Bank North account through your Nominated Account, you'll need to check timings with your Nominated Account provider. Once your account is opened, you'll start earning interest from the day we receive your payment.

I've made a withdrawal to my Nominated Account. How long will it take?

If you make your withdrawal by 2pm on a business day, your money will be in your Nominated Account by the close of business on that day. If you withdraw money after 2pm, it will reach your Nominated Account the next business day.

I have made a payment from an account which isn't my Nominated Account and it was returned. Now what?

We can only accept payments from your Nominated Account. If you send us money from another account, we'll send it back to the account which it came from. This will usually be the next business day but may take a little longer on weekends.

If you'd like to change your Nominated Account you can do so by logging into our online savings system.

I'd want to pay into my account by cheque. Who do I make the cheque payable to

As we provide online savings, we only accept electronic payments.

YOUR DETAILS

How do I reset my password or memorable details?

If you’ve forgotten or lost your User ID, password or memorable details please use the online prompts or call us on 08456 460 460.

What is a Section 975 tax certificate and how do I get one?

A statement of Deduction of Tax (Section 975 Cetificate) can be issued for interest paid and tax deducted prior to the date 6th April 2016. This certificate demonstrates the gross amont of interest paid, any tax deducted, and the amount paid into your account.

You can print interest statements and a Section 975 tax statement yourself online. Just log into your account, choose the account you want the statement for and go to 'View interest'. If you need any help call our team 08456 460 460. Your statements will be available online for 12 months after the account has been closed.

Can I close my account?

You have 2 days from Account opening to close your account without penalty or notice. If you close your account during this period, we will return any funds deposited together with any interest due, to your Nominated Account.

Where can I find my user ID?

We'll send you your User ID by email within a couple of days of opening your account. If you've misplaced this let us know and we'll resend it.

SECURITY

How secure is your site?

Our online savings accounts are a safe and convenient way to manage your finances. We use 'best practice' systems and take every step we can to protect your money. Our website is encrypted and secured. You can check if the website is secure by the security certificate appearing in the navigation bar at the top or bottom corner (depending on your browser), and the http:// should be https:// to indicate a secure site.

Steps to keep your account safe and secure

If you call us we’ll ask you to confirm some details about your account to make sure it is you.

You’ll need to take all reasonable steps to keep your login and security details safe.

You should never write your password down or tell anyone your password. Your password should not be easily guessed so avoid using information that people could find out about you such as: names of family members, your street name, or your favourite book. If you suspect that someone has figured out your password you should change it immediately.

Always keep your details up to date, especially your address, email and Nominated Account. You can update your details through our online savings system. Specifically, your email address should be valid, current, and personal to you, and nobody else should have access.

The security of the device you use to access your account is really important and it’s your responsibility to keep it protected from attempts to gain access to your account. To prevent risk you shouldn’t access your account from a public computer or a location you don’t trust. Use strong passwords, and up-to-date virus checking and firewall software.

What to do if you’re suspicious of someone who has contacted you

We will never contact you via email or text to login to your account. If you receive a message that looks like it is from Bank North that asks you to do this, it is likely a phishing attempt. Phishing scams are attempts by fraudsters to get customers to open a link, and hand over personal information which fraudsters use to scam customers.

If you believe you have been contacted by a fraudster or have been a victim of a phishing attempt, please contact us immediately and we will investigate.

Reporting Fraud and Cybercrime

Action Fraud is the UK’s national reporting centre for fraud and cybercrime, helping those who have been defrauded or scammed in England, Wales, and Northern Ireland. If you are looking for further information on fraud and cybercrime, or you believe you have fallen victim to a scam you can contact Action Fraud via their website or contact number to receive help and assistance.

Take Five is a national campaign that offers impartial, straight-forward advice on how to stay protected from criminals impersonating organisations to commit fraud. Take Five urges you to consider whether the person contacting you is genuine, so that you can stop before acting.

Stop: Taking a moment to stop and think before parting with your money or information could keep you safe.

Challenge: Could it be fake? It’s ok to reject, refuse or ignore any requests. Only criminals will try to rush or panic you.

Protect: Contact your bank immediately if you think you’ve fallen for a scam and report it to Action Fraud.

Phone and SMS fraud

Unlike face to face interaction, someone calling over the phone or sending an SMS remains faceless. Many people will assume that a direct text from someone that looks like a recognised brand is genuine.

Quick tips on how to stay safe

COVID-19 has provided criminals and fraudsters plenty of opportunities to take advantage of isolated and vulnerable people to convince them that their money or information is in danger.

  • Someone contacting you from a legitimate organisation won’t mind you questioning their credentials. Fraudster and criminals are more likely to change the topic of conversation or get defensive.
  • Take five minutes to think about what is being asked of you and the information you are being asked to give over.
  • If you feel pressured or unsure about the intent of the caller, you are within your right to hang up the phone or stop communicating with them. Don’t feel pressured to keep talking to someone who makes you feel uncomfortable.

How is my money protected?

We’re covered by the UK savings deposit scheme, the Financial Services Compensation Scheme (FSCS). Eligible deposits are protected up to a limit of £85,000. More information can be found on the FSCS website.

How is Bank North regulated?

Bank North is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).

Do you allow businesses or intermediaries to open accounts?

Our accounts (and their terms) only allow personal individual customers to apply and manage a Bank North savings account, and prevent access to any other party.

YOUR SAVINGS

Can I pay in more than the maximum amount?

Our maximum account balance will be shown on the Additional Product Terms & Conditions. There is a maximum total balance across all your Bank North accounts of £500,000.

GENERAL

Are you recruiting?

Yes, we're growing. Please visit our careers page for our latest recruitment opportunities.

Where are you based in the UK?

Our Head Office is in Manchester, and our customer services team is located in Wallsend, North Tyneside.

Do you have a number I can contact you on if I'm abroad?

Yes, if you're overseas you can contact us on 0194 479 2588.

I tried calling 08456 460 460 but couldn’t get through. Do you have another number I can get in touch with?

In the unlikely event that we have an issue with our phone line, you can call us directly on our local Tyneside number: 0194 479 2588.

What happens if I have a Power of Attorney?

Please get in touch on 08456 460 460 we can talk you through adding a Power of Attorney to your existing account or if you would like to set up a new account we will need to send you an application form in the post.

What happens when an Account holder passes away?

If an Account holder passes away, please call us on 08456 460 460 and our team will explain what you need to do.

The Financial Services Compensation Scheme (FSCS) is the UK’s deposit scheme of last resort for customers of authorised financial services firms. It was set up to pay compensation to customers if a firm is unable to pay claims against it, in the event the firm stops trading or is insolvent.

Your eligible deposits with Bank North are protected up to a total of £85,000 by the Financial Services Compensation Scheme.

Any deposits over the amount of £85,000 are unlikely to be covered.

I have a question but it's not here?

Contact us on 08456 460 460, email us at hello@savings.banknorth.co.uk or log in to your account and use Secure Messaging - we're happy to help whenever you need us.

NACFB - Helping Fund Uk Business & FIBA - Financial Intermediary & Broker Association

Copyright © 2022 Bank North Limited. All Rights Reserved.

Bank North Limited is authorised by the Prudential Regulation Authority and authorised and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number 848024). Bank North Limited is a company registered in England and Wales (company number 11030672) and its registered office is Suite 20A, Manchester One, 53 Portland Street, Manchester, M1 3LD.

Bank North has been Authorised with Restrictions since 24th August 2021, at which point the firm entered a phase known as mobilisation. During this phase, the bank will be undertaking lending activities but will not be accepting customer deposits.