Free Banking for Schools

All standard business transactions are free of charge. Available to cheque book and academy status schools within our operating area.
For all enquiries please contact us on
(01228) 403 141

Why bank with the Cumberland?

Local Branches
34 branches throughout our operating area
Your friendly local branch team are nearby to help you 6 days a week
Local Customer Service Team
Here for you 7 days a week
Our friendly team based in Carlisle are here to take your call and reply to your messages
Switch In 7 Days
Our 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

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
Contactless Visa Debit Card
To make purchases in shops and online
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
Receive money using a mobile number
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

Fee Information (Charges)

  • View details

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

    Credits to an account

    Automated credits* (eg. Bacs) free
    Cheque credits1 free
    Cash & transfer credits free
    Cash paid in free

    payments from an account

    Cash debits free
    Cash withdrawn free
    Cheques issued from book free
    Online payments free
    Direct Debits free
    Standing orders free
    Visa Debit card free
    ATM withdrawals free
    Debit card & ATM use overseas2 free
    Cheques issued in branch free
    Manual transfers free
    Automated transfers free
    Monthly fee free

    credit interest

    Variable gross interest3/AER4 0.25%

    debit interest

    Standard authorised overdraft interest rate 3.04% per quarter (12.73% p.a. variable EAR)5
    Unauthorised overdraft interest rate 5.659% per quarter (24.63% p.a. variable EAR)5

    Interest rates correct at 17/11/16. Charges are correct as at 01/10/15

    1. Maximum 5 cheques allowed per credit
    2. 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.
    3. Gross interest is the contractual rate of interest payable (without deduction of tax) and you will be responsible for paying any tax you owe on interest as per your individual personal savings allowance.
    4. Annual Equivalent Rate (AER) illustrates what the interest rate would be if interest was paid and added each year.
    5. EAR - Effective Annual Rate.

    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.

CASS.pngCurrent 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:

  • The service is free to use and you can choose and agree your switch date with us.
  • 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.
  • 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 there are any issues in making the switch, we will contact you before your switch date.
  • Crystal_Mark_Small.pngIf 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.
Current Account Switch Guide
Download the official Current Account Switch Guide as a PDF here

More Information

  • Who can apply

    We welcome new applications from cheque book and academy status schools i.e. schools which control their own finances, within our branch operating area.

    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

    For all enquiries about opening an account please contact us on 01228 403141.

  • Full account details
    Minimum age
    Must be main business current account
    Current Account Switch Service
    Standing Orders & Direct Debits
    Contactless Visa debit card
    Verified by Visa and One Time Passcode protection
    Withdraw cash at Link ATMs across the UK
    £300 per day
    Mini statements from Cumberland ATMs
    Withdraw cash at Cumberland branches
    £500 per day
    Foreign currency transaction charge
    Cheque book
    Free (on request)
    Use of all Cumberland branches
    Online banking
    Text alerts
    Pay2Mobile (Mobile Payments)
    Yes (receive only)
    Customer Service Helpline
    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.

FSCS Logo (Small) FSCS Logo (Large)

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

Please click here for further information or visit