How do I open a new savings account?

To open a new savings account, visit our full list. From this page, you can find out more about the savings account you’ve chosen. Make sure you read and understand the account details and important information documents (including the terms and conditions).

It’s possible to apply directly from this page. If you haven’t already got a Cash savings hub, you’ll be taken through the application process when you click ‘Apply now'.

When your Cash savings hub is set up, you can review your applications on the ‘Pending savings accounts’ page.

What happens after I open a savings account?

Once this is complete, you can fund your transaction account. After you pay the deposit amount into your transaction account, your money will be used to set up the chosen savings account. This should take up to three working days, and we’ll email you to confirm when it is open.

You can view all your open savings accounts by logging in and selecting your Cash savings hub on the ‘My account’ page. Here, you’ll see applications that cannot proceed because sufficient money is not yet available in the transaction account.

How long do I have to fund a savings account?

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 only have a limited time to complete and fund your application and guarantee the interest rate. Please fund your transaction account with the full cash amount as soon as possible.

If you haven’t paid the full deposit amount into your transaction account within 60 days of applying for the savings account, the application will be cancelled.

Can I change the amount I want to deposit into a savings account or cancel the account?

Once you’ve applied to open a savings account, you can’t change the amount you want to deposit. However, you can cancel the application if it's at a status of ‘Funding required’. Just visit the 'Pending savings accounts' screen. You can then make a new application and choose a different deposit amount.