Savings Help

What is a savings account?

Basically a savings account is somewhere that you can store your savings. You'll earn interest on the money you put into your account, so just by leaving the money in your account your savings will grow.

Acceptable Documentation to prove your Identity

Why does Newcastle Building Society ask for identification?
Under UK money laundering regulations we must verify the identity of all of our customers to a satisfactory level. These regulations are in place to help prevent criminals from using financial products and services for their own benefit.

What identification will I need to provide?
The Society will initially attempt to identify all customers electronically by using software which checks a series of databases for identification information. This search does not affect your credit rating, however in some cases we may find it necessary to request paper identification to prove name and/or address. Existing customers may have already been identified in-line with current regulations therefore we will tell you should further documents be required. Whenever paper identification is requested you will be informed of whether we require proof of name, proof of address or both.

Non EU Nationals
If you are not an EU citizen we may request a copy of your passport and proof of your right to reside within the UK.

Note
Documents must be original items (unless otherwise stated) posted to you at your residential address. Unfortunately we are not able to accept internet or branch prints of statements or bills. When both name and address paper identification proof is requested, we are unable to accept two documents of the same type e.g. Driving Licence for name proof and driving licence for address proof. In addition, we are unable to accept two documents from the same organisation. Should you so choose, we will accept certified copies, but only from a registered Solicitor or an employee of a FCA regulated organisation (e.g. bank clerk). The certifier’s name, position, organisation and contact details must be visible as we may contact the certifier to validate the certification. If the document you are providing does not reflect your name due to a recent change (e,g, marriage) we will require appropriate official evidence of this change (e.g. marriage certificate). This document will need to show the link between the old and new name.

Further help
If you are not able to meet the identity requirements laid out in this document and have no other banking facilities, please visit your local branch or telephone our head office to discuss what other documents we may be able to use to verify your identity.

Principal Office: Portland House, New Bridge Street, Newcastle upon Tyne NE1 8AL.

Newcastle Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Newcastle Building Society is entered in the Financial Services Register under number 156058. You can check this on the Financial Services Register or by contacting the Financial Conduct Authority on 0800 111 6768. Call 0345 734 4345 or visit us online www.newcastle.co.uk

Acceptable Documents

Proof of name:

  • Valid Passport (photocopy acceptable unless hand written)
  • Valid Full UK Photocard Driving Licence (photocopy acceptable)
  • Valid Full UK Driving Licence (old style paper)
  • Benefits Agency Letter confirming entitlement to state benefits (dated within 3 months)
  • Birth Certificate (18 and under in full time education)
  • Valid Biometric Photocard Residency Permit confirming right to reside
  • Stamped Court of Protection Power of Attorney document (Donor Only)
  • Government Pension Statement (dated within 12 months)
  • HMRC Tax Code Notification (dated within 12 months)

Proof of address, showing first initial and surname as a minimum and when not used for proof of name:

  • Valid Full UK Photocard or old paper style Driving Licence (photocopy acceptable)
  • UK Bank/Building Society Statement (dated within 3 months)
  • UK Credit Card Statement (dated within 3 months showing account activity) card number can be blacked out if desired
  • Mortgage Statement (dated within 12 months)
  • Gas or Electricity Statement (dated within 3 months)
  • Landline Phone or Broadband Bill (dated within 3 months)
  • Water Bill (dated within 12 months)
  • Council Tax Bill (dated within 12 months)
  • HMRC Correspondence relating to Tax Liability (not P45 or P60 and dated within 12 months)
  • Government Pension Statement (dated within 12 months)
  • Letter from the Benefits Agency confirming entitlement to state benefits (dated within 3 months)
  • Letter from your Solicitor confirming the sale of your previous property posted to your current address (dated within 3 months)
  • Stamped Court of Protection Power of Attorney document (Donor Only)
  • National Insurance Number confirmation letter (under 18s only)
  • Student Loan Statement or Confirmation Letter (dated within 12 months for age 21 or under)
  • Letter from the Home Office confirming right to reside (dated within 3 months) *Cannot be used if Biometric Res Card is used for Proof of Name
  • Residential Care Home/Invoice on letterhead (dated within 3 months)
  • Reference from Commanding Officer (Armed Forces for BFPO) (dated within 3 months)

Can I change my mind about opening a savings account once I've applied?

Of course you can. If you're not completely happy with your choice, you have the right to cancel within 14 calendar days (excluding public holidays) from the date shown on your welcome letter from Newcastle Building Society. Any requests to cancel must be made in writing to the Society's Principal Office. If you decide to cancel, the Society will send a cheque to cover your original investment. This right can be exercised regardless of the notice period applicable to the account.

Can children open savings accounts?

Yes. Children under the age of 7 will need to have their account opened by a parent or guardian. While children aged 7 or over can open an account for themselves.

What if I need to change my personal details?

If you need to change personal details such as your name or address, you should notify us immediately in writing. Alternatively, you can complete a 'Change of Details' form and return this together with suitable proof of residency/identity.

If you change your name, the last 3 characters on your roll number will change and anyone who sends funds to your account should be advised of this change.

Will I receive an account statement?

To find out how often you should be receiving statements, please refer to the Savings Generic Terms and Conditions. If you have any questions about your statement or about any passcard entries, you can call us on 0345 734 4345.

How do your joint accounts work?

If you have chosen to open a joint savings account, both you and your chosen partner will have access to the account. This means you can both make deposits and withdrawals. When applying, you can choose whether a signature will be required from one or both parties in order to make a withdrawal. The Terms and Conditions associated with the account will apply to both account holders.

What happens if there is a dispute between joint account holders?

You should notify the building society immediately in the event of a dispute between joint account holders, if you're account allows withdrawals to be made with only one signature. This also applies when a couple chooses to separate or divorce. Following this we will only permit withdrawals from the account upon receipt of a signed instruction from both account holders.

What happens if one of the joint account holders dies?

In the event of the death of any customer the account will remain open in the name of the remaining account holder(s).

Are statements and communications sent to both holders on a joint account?

Unless we receive written notification requesting correspondence to be sent to both account holders, all correspondence will be sent to the first named account holder only.

Who has membership rights on a joint account?

For membership purposes only the first named account holder on a joint account will be given membership rights of the Society.

How much can I withdraw from my account in branch?

Withdrawals from savings account are available by cash or cheque from our branches, subject to cleared funds being available in your account, a passcard being produced and suitable identification provided.

You can withdraw up to:

  • £500 cash from any account in any one day
  • Cheques totalling £50,000 from any account in any one day

What if I need a cheque for more than £50,000?

Cheques for over £50,000 are available by post within 3 working days from our Principal Office. You can request them in writing using the following address:

Newcastle Building Society
Portland House
New Bridge Street
Newcastle upon Tyne
NE1 8AL

Alternatively, you can close your account, or request partial withdrawals via telephone by calling us on 0345 734 4345.

How do I operate an online savings account?

When you open an online savings account you’ll be asked to create a password and create memorable information. We’ll issue you with a unique User ID and when you log in you’ll be asked to provide your User ID and password along with details from your memorable data. Simply enter these details on the log-in page and you will be able to access your online savings account. You can then make deposits and withdrawals, create customised statements, arrange direct debits and change your details. Please see our online demo for more information.

Please note, you cannot manage an online savings account in branch or over the phone. Newcastle Building Society can not be held liable for unauthorised use of your User ID/Password information.

How do I give notice that I want to make a withdrawal with an online account?

If you have a notice account, you can select Make a Transaction and choose a future date within the accounts notice period to automate the transaction. The funds will automatically transfer once the notice period has passed. Alternatively, you can give us a call on 0345 734 4345 to advise us of your notice to withdraw.

How do I operate a telephone savings account?

When you open a telephone savings account with us, you'll be given a unique user ID. You will need to quote this when you call our savings line. Our friendly advisers will then help you manage your telephone savings account. Withdrawals can be made by transferring funds to an alternative account or they can be sent out by post.

Please note, you cannot manage a telephone savings account in branch or online. Newcastle Building Society can not be held liable for unauthorised use of your User ID/Password information.

How can I avoid unauthorised use of my unique user ID and Password?

We advise that you:

  • Destroy any notification you receive once the information has been memorised
  • If you need to make a note of this information, please try to ensure it's written in a way that is only recognisable to you and that it is kept in a safe place
  • Take care to ensure that no one else can observe you when you are using this information to gain access to your account
  • Do not store this information on your computer

What do I do if I think someone has seen my unique user ID or password?

If you think someone may have found out your unique user ID or password, please call us on 0345 734 4345 so we can place a stop on your account. We will then provide you with a new user ID and password. In certain circumstances it also may be necessary for you to provide us with suitable proof of residency and identity.

What do I do if I've lost or forgotten my unique user ID or password?

Simply call us on 0345 734 4345. We will have to put a stop on your account while a new user ID and password are provided but you will soon be able to access your account again. In certain circumstances it also may be necessary for you to provide us with suitable proof of residency and identity.

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