HAVE YOUR CAKE & EAT IT

A local personal and friendly service when you need it, convenience at your fingertips when you don't...and the first year is FREE
Arrange to meet us at your local branch. We're here 6 days a week
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WHICH ACCOUNT OPTION IS RIGHT FOR YOUR BUSINESS?

OPTION A Image
OPTION A
For businesses with a high proportion of cash and cheque transactions
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Higher automated transaction charges
Lower manual transaction charges
Credit interest
Monthly fee
OPTION B Image
OPTION B
For businesses with a high proportion of electronic transactions
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Free automated transactions
Higher manual transaction charges
No credit interest
Monthly fee
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Which option is best for you?
Business Banking Calculator
Use our online calculator to work out which account option would be best for your business and how much money you could save by switching your banking to us
Free Schools Banking
Completely free day-to-day banking for schools
Free Schools Banking
Available to cheque book and academy status schools i.e. schools which control their own finances, within our operating area

Options A & B Account Rates & Charges

  • View the details

    Charges applicable for day-to-day transactions are detailed below. For details of additional rates and charges which may apply in certain circumstances, please click here.


    Credits to your account

    First 12 months Option A Option B
    Automated credits* (eg. Bacs) free 20p free
    Cheque credits1 free £1.00 £1.50
    Cash & transfer credits free 55p 55p
    Cash paid in free £5000 per quarter free then 50p per £100 £500 per quarter free then 75p per £100

    payments from your account

    First 12 months Option A Option B
    Cash debits free 55p 55p
    Cash withdrawn free £1500 per quarter free then 40p per £100 75p per £100
    Automated transfers* free 35p free
    Online payments* free 35p free
    Direct Debits* free 35p free
    Standing orders* free 35p free
    Visa Debit card* free 35p free
    ATM withdrawals* free 35p free
    Debit card & ATM use overseas*6 free free5 free
    Faster Payments in branch free £1.50 £1.50
    Cheques issued in branch free £1.50 £1.50
    Cheques issued from book free 55p 55p
    Manual transfers free 55p 55p
    Monthly fee* free £5.00 £3.00

    credit interest

    First 12 months Option A Option B
    Variable gross interest2/AER3 0.10% 0.10% 0.00%

    debit interest

    First 12 months Option A Option B
    Standard authorised overdraft interest rate 3.04% per quarter (12.73% p.a. variable EAR)4 3.04% per quarter (12.73% p.a. variable EAR)4 3.04% per quarter (12.73% p.a. variable EAR)4
    Unauthorised overdraft interest rate 5.659% per quarter (24.63% p.a. variable EAR)4 5.659% per quarter (24.63% p.a. variable EAR)4 5.659% per quarter (24.63% p.a. variable EAR)4

    * Automated transactions. All other chargeable transactions above are manual.

    Interest rates correct at 11/08/14. Charges are correct as at 01/04/17.

    1. Maximum 5 cheques allowed per credit
    2. Gross interest is the contractual rate of interest payable (without deduction of tax) and you willbe responsible for paying any tax you owe on interest as per your individual personal savings allowance.
    3. Annual Equivalent Rate (AER) illustrates what the interest rate would be if interest was paid and added each year.
    4. EAR - Effective Annual Rate.
    5. Normal debit card and ATM withdrawal fee still applies.
    6. The Cumberland does not charge you to use your Cumberland card overseas or pass on any fees levied by Visa but the provider of an ATM or retailer may apply a charge.

    OVERDRAFT ARRANGEMENT FEES: Arrangement fees and renewal fees are payable for business overdraft facilities and will be confirmed prior to your overdraft being agreed.

    Charges are calculated quarterly at the end of March, June, September and December and are deducted from accounts on or around the 26th day of the following month.

    The Society reserves the right to vary the above charges and the eligibility criteria for free banking for high volume accounts (over £250,000 credit turnover).

    Free banking does not apply to the Cash Exchange Service – please see our separate leaflet Charges for Account Services.

A FIRST-CLASS PERSONAL & FRIENDLY SERVICE

Everything you’d expect from a bank account, without the bank. Be more than a number with the Cumberland.

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Local Branches
34 branches throughout our operating area
Find A Branch
When you're out and about, a friendly local branch team are nearby to help you
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Local Customer Service Team
Here for you 7 days a week
About The Team
Our friendly team based in Carlisle are here to take your call and reply to your messages
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Switch In 7 Days
Our Current Account Switch Service
Current Account Switch Service
Our team based in Carlisle are here to switch your account smoothly and quickly, guaranteed

AT YOUR FINGERTIPS

Making your life that little bit easier

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Internet Banking
On computer, tablet and smartphone
View your balances and transactions, view statements, transfer money between your accounts, make payments, manage your balance text alerts. Safely and securely.
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Contactless Visa Debit Card
To make purchases in shops and online
Contactless Visa Debit Card
Use to pay suppliers and withdraw cash at ATMs. Where the Contactless symbol is displayed for purchases up to £30, you can carry out a Contactless payment with your card and Apple Pay. Available to all signatories
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Pay2Mobile
Receive money using a mobile number
Pay2Mobile and Paym FAQs
Pay2Mobile is part of Paym, which connects over 40m current accounts and mobile numbers in the UK and allows you, as a business, to receive payments from your customers using just your mobile phone number
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FREE CUMBERLAND DEBIT CARD USE WORLDWIDE
Unlike most banks, we won't charge you to use your Cumberland Visa debit card or Apple Pay to make transactions abroad or in foreign currencies

We don't charge you to use your card but the provider of an ATM, retailer or your mobile service provider may

Free Card Use Abroad

PROTECTING YOU AND YOUR MONEY

How we can work together to make your money safe and secure

How To Protect Yourself
Keeping yourself and your money safe
Our Fraud Protection Tips
We do a lot to help protect you from fraud; so take 5 minutes to read our top tips on what you can do to protect yourself even better from fraud.
How We Protect You
Keeping you and your money safe
How We Protect You
We do a lot to help protect you from fraud; find out more about our services which help keep your money safe and secure.
Switch Guarantee Logo

Current Account Switch Guarantee

We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.

  • We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
  • If you have money in your old account, we will transfer it to your new account on your switch date.
  • The service is free to use and you can choose and agree your switch date with us.
  • We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
  • If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.
  • If there are any issues in making the switch, we will contact you before your switch date.

SAVINGS ACCOUNT

EXCLUSIVE CUMBERLAND BUSINESS BANKING CUSTOMERS

eSavings Account
Save online for an enhanced rate and easy access
Online Savings Account
The account offers instant access via Internet Banking

More Information

  • Who can apply

    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.

    Our operating area is:

    • Cumbria (all CA and LA postcodes)
    • South-West Scotland (all DG postcodes and TD9)
    • West Northumberland (NE46-49)
    • North Lancashire (all PR, FY, LA AND BB1-2 and BB5-7)
  • Withdrawal limits

    You can withdraw up to £300 cash per day at Link ATMs across the UK. If you come into branch you can withdraw up to £500 cash per day.

  • Overdrafts

    An overdraft can be useful for short term borrowing, for example to cover your expenses until income is received. The advantage of an overdraft is it is flexible and you can dip into it at any point over the agreement period.

    Overdrafts are available upon request, subject to status.

  • Opening an account in branch

    You need to arrange an appointment at your local branch (Monday to Saturday). Alternatively, call into your local branch and speak to one of our team.

    Unless you have an account with us already, we will need you to provide proof of your identity and evidence of your address. Please bring one original document of each. Acceptable documents include:

    Proof of identity
    • Current valid signed passport
    • Current UK photocard driving licence
    • Firearms certificate or shotgun licence
    • A blue disabled drivers pass
    • An EU photocard driving licence
    Evidence of your address
    • Recent utility bill dated within the last six months (mobile phone bills cannot be accepted though)
    • A council tax bill valid for the current year
    • Bank, building society or credit union statement dated within the last six months

    We also need to verify your business identity. Please bring one original document from:

    • Certificate of Incorporation (required for all limited company applications)
    • Business Card or Business Letterhead
    • Business statements from a Bank or Building Society which confirms the business name and address
    • Financial Accounts (signed and dated within the last 12 months)
    • Business Plan (new businesses only)
  • Full account details
    Minimum age
    18
    Must be main business current account
    Yes
    Current Account Switch Service
    Yes
    Standing Orders & Direct Debits
    Yes
    Contactless Visa debit card
    Yes
    Verified by Visa and One Time Passcode protection
    Yes
    Withdraw cash at Link ATMs across the UK
    £300 per day
    Mini statements from Cumberland ATMs
    Yes
    Withdraw cash at Cumberland branches
    £500 per day
    Foreign currency transaction charge
    Free1
    Cheque book
    Free (on request)
    Statements
    Free
    Use of all Cumberland branches
    Yes
    Online banking
    Yes
    Text alerts
    Yes
    Pay2Mobile (Mobile Payments)
    Yes (receive only)
    Customer Service Helpline
    Yes
    Overdraft facility available
    Yes (on request - subject to status)
    Authorised overdraft interest rate
    3.04% per quarter (12.73% p.a. variable EAR)2
    Unauthorised overdraft interest rate
    5.659% per quarter (24.63% p.a. variable EAR)2

    Interest rates correct at 11/08/14. Charges are correct as at 01/10/15

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

    (2) EAR – Effective Annual Rate.

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DOCUMENTS TO DOWNLOAD

Card Terms & Conditions
Download
Application Form
Sole Traders & Partnerships
Download
Application Form
Limited Companies & Limited Liability Partnerships
Download
FSCS Logo (Small) FSCS Logo (Large)

Your eligible deposits with Cumberland Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered.

Further information is available here or visit www.fscs.org.uk.