FREE DAY-TO-DAY BANKING FOR SCHOOLS

Available to cheque book and academy status schools within our operating area. All standard business transcations are free of charge. With a local personal and friendly service when you need it, convenience at your fingertips when you don't
Arrange to meet us at your local branch. We're here 6 days a week
Book An Appointment

A LOCAL, FIRST-CLASS & PERSONAL 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 Cumberland Branch
Your friendly local branch team are nearby to help you 6 days a week
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Local Customer Service Team
Here for you 7 days a week
Our Customer Service 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
Our Internet Banking
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 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
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

GET IN TOUCH

Book an appointment below to meet us and discuss your requirements. Here’s what we’ll need:

Signatories' identities
o Current valid signed passport
o Current UK photocard driving licence
o Firearms certificate or shotgun licence
o A blue disabled drivers pass
o An EU photocard driving licence
Signatories' addresses
o Recent utility bill (no mobile phone bills)
o A council tax bill valid for the current year
o Bank, building society or credit union statement
We also need
o Most recent month's bank statement
o Minutes of a Governors' meeting confirming account is to be opened
o Financial accounts and a Certificate of Incorporation (if limited company)
Next
Book an appointment online now to discuss your needs
Book An Appointment

Account Rates & Charges

  • View 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 an account

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

    payments from an account

    Charge
    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

    Charges
    Variable gross interest3/AER4 0.25%

    debit interest

    Charges
    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.

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
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
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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.
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Current Account Switch Guide
Download the official Current Account Switch Guide as a PDF here
Download

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 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 a signatory already has an account with us already, we will need to be provided with proof of identity and evidence of address. We will require one original document of each for each signatory. Acceptable documents include:

    Proof of signatories 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 signatories 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

    Please also bring the following original documents:

    • One full months Bank Statements (most recent) which confirms the schools name and address
    • Minutes of a Governors meeting confirming that an account is to be opened with Cumberland Building Society and specifying who the designated signatories are to be and how many will be required to sign. The extract should be signed by the Chairman of Governors or Clerk to the Governors as a true copy
    • If the school is a limited company we would also require Financial Accounts (signed and dated within the last 12 months) and a Certificate of Incorporation
  • 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.

Next
Book an appointment online now to discuss your needs
Book An Appointment
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.