Current Accounts

Our current accounts offer...

...a simple, convenient and safe way of managing your money. We offer a choice of accounts with a range of features. Both accounts offer:

Card
Visa Debit Card

To use in ATMs, shops or online




internet banking
Internet Banking

Manage your money 24 hours a day, at your convenience




mobile phone
Mobile Banking

Transfer money, pay bills and view recent transactions on the go




mobile phone
Customer Service Helpline

Based in Carlisle, our local, friendly and knowledgeable team are on hand to help




branch
Branch

You can also call into any of our 33 local branches




Cumberland Plus account

Additional features include:

Overdraft Facility

Subject to eligibility

FREE* foreign currency transactions

We will not charge you any additional fees when using your card for foreign currency transactions

FREE Account Switching Transfer Service

Switch your existing bank account to Cumberland Plus and our dedicated team will...

  • transfer all your existing credits and debits
  • contact the companies you pay direct debits to and provide them with your new account details
  • close your old bank account
  • tell you when the transfer has been completed
  • keep you informed throughout the transfer process

* The Cumberland does not charge you to use your Cumberland card but the provider of an ATM or retailer may apply a charge

Which account is right for you?
Cumberland Plus
Cumberland Day2Day
Minimum age
18 132
Minimum funding requirement
£750 per month1 £200 per month for those aged 24 and over. No minimum funding requirement for those aged 23 and under12
Charge if funding requirement is not met
£2 per month10 £2 per month10
Standing Orders & Direct Debits
yes yes
Visa debit and cashcard
yes yes
Verified by Visa protection
yes yes
Withdraw cash at Link ATMs across the UK
£300 per day £300 per day
Mini statements from Cumberland ATMs
yes yes
Withdraw cash at Cumberland branches
£500 per day £500 per day
Foreign currency transaction charge
Free4 2.5% of transaction5
Cheque book
Free (on request) Available on request to over 18s11 (£5 charge per cheque book)
Statements
Free Free13
Use of 33 Cumberland branches
yes yes
Internet banking
yes yes14
Mobile banking
yes yes
Customer Service Helpline
yes yes
Overdraft facility available
yes (on request - subject to status) no
Credit interest paid into your account
Minimum balance £1
Variable Gross Interest/AER80.10%
Net Interest 0.08%7
Minimum balance £1
Variable Gross Interest/AER80.00%6
Net Interest 0.00%7
Authorised overdraft interest rate
9.99% p.a. variable EAR9
Representative example: If you are overdrawn by £400 for 16 days you will pay interest at 9.99% variable. The total charge for this credit would be £1.68
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You can apply for a current account by contacting us to arrange an appointment to see one of our dedicated advisors.

We welcome new applications from new and existing customers who live within our branch operating area, however, we do not accept new accounts from new customers who live outside our branch operating area. Some restrictions may also apply to new accounts available to existing customers who live outside our branch operating area. Contact us for more information.

For information and guidance on banking from the Financial Services Authority, please see their Money Advice Service website.

You should read the information in this section with the leaflets available to view and download on the left of each page, alternatively contact us and we will arrange for you to receive printed versions.

Credit interest rates correct at 8/11/11. (1) You must fund your account with at least £750 per month from an external source. Cash, cheques and transfers from other personal Cumberland accounts will not count towards the minimum funding requirement. Transfers from Cumberland Business accounts will count towards the minimum funding requirement. In the case of joint accounts, one such source of income is acceptable. (2) Applications from 13-15 year olds must be approved by a parent/guardian. (3) You must fund your account with at least £200 per month from an external source. Transfers from other personal Cumberland accounts will not count towards the minimum funding requirement. Transfers from Cumberland Business accounts will count towards the minimum funding requirement. This requirement does not apply for customers under 24 years of age. In the case of joint accounts, one such source of income is acceptable. (4) The Cumberland does not charge you to use your Cumberland card but the provider of an ATM or retailer may apply a charge. (5) A fee of 2.5% of the transaction amount will be charged for every foreign currency transaction (with effect from 1 May 2012). The provider of an ATM or retailer may also apply a charge. (6) Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. (7) Net interest is the rate of interest which would be payable after allowing for the deduction of income tax at 20%, i.e. the rate specified by law. Net interest rates have been rounded and are for illustrative purposes only. (8) Annual Equivalent Rate (AER) illustrates what the interest rate would be if interest was paid and added each year. (9) EAR – Effective Annual Rate. (10) If you do not meet the minimum funding requirement in a calendar month, a charge of £2 will be applied to the account in the following month. The charge will be applied for every calendar month that the minimum funding requirement is not met. The charge will not be applied if the average balance of your account during a calendar month is £1,000 or above and your account has remained in credit. Further details of this charge can be found in the ‘Account Funding’ section of our Current Accounts leaflet. (11) In the case of joint accounts, all account holders must be over 18 for a cheque book to be issued. (12) In the case of joint accounts, the minimum funding requirement will apply once the oldest account holder reaches 24. (13) Free eStatements provided if the account is registered for Internet Banking. If the account is not registered for Internet Banking, monthly paper statements are available at a charge of £2 per statement. (14) Internet Banking is a requirement for all new accounts where all applicants are under 24.

Cumberland Building Society and Cumberland Financial Services Limited are authorised and regulated by the Financial Services Authority and are entered in the Financial Services Authority’s Register under Register Numbers 106074 and 200391. This site is intended for residents of the United Kingdom only. © Cumberland Building Society 2012. All Rights Reserved.
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