Cumberland Plus Current Account
A FIRST-CLASS PERSONAL & FRIENDLY SERVICE
Everything you’d expect from a bank account, without the bank.
SAVINGS ACCOUNTS EXCLUSIVE CUMBERLAND PLUS HOLDERS
DIGITAL BANKING SERVICES
Making your life that little bit easier
We don't charge you to use your card but the provider of an ATM, retailer or your mobile service provider may
PROTECTING YOU AND YOUR MONEY
How we can work together to make your money safe and secure
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.
- 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.
- 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.
A SIMPLER ALTERNATIVE TO OUR CUMBERLAND PLUS ACCOUNT
Personal Account Rates & Charges
There may be other fees and charges (not listed below), which are made by us for providing additional services and we'll let you know about these when you ask for these services.
Other taxes or costs may exist that are not paid through us or imposed by us. Fees, charges and overdraft interest rates may vary from time to time. Unless otherwise stated, all charges for services are payable when the service, or processing of a payment, is requested.
| Service | Charge |
| Unpaid Item Charge | £10 |
| Applied when we consider and return a request to process a payment because you do not have sufficient available funds in your account. For cheques this is when they are presented for payment (typically before 9am), and for Direct Debits and standing orders, by 3.30pm on the day they are due to be paid.Applies to all accounts which can process cheques/Direct Debits/standing orders. | |
| Daily Unauthorised Overdraft Chargee | £5 |
| If the debit balance on your account exceeds £15 or exceeds your agreed overdraft limit by more than £15 at close of business on a bank working day, a daily £5 fee will be incurred. This fee will continue to be incurred on each subsequent bank working day until the balance of your account is brought back into credit or within the agreed overdraft limit. Applies to Personal Current and Non-Personal Non-Business accounts. |
These charges will be debited on the last bank working day (ie excluding Saturdays, Sundays and Bank Holidays) of the calendar month following the month in which the charge is incurred. Eg a charge incurred in June would be debited on the last bank working day of July.
We won't charge you more than 2 unpaid item charges per day or charge more than £90 (in unpaid item charges and overdraft management charge per month).
INTEREST
| Authorised Overdrafts | Unauthorised Overdrafts | |
| Current Account, Reward, Cumberland Plus and Cumberland Offset Current Accounts | 14.99% EAR* (variable). 3.553% per quarter. Representative Example: If you use an arranged overdraft of £250 the interest we will charge you is 14.99% EAR (variable). | Representative Example: No interest will be charged (please see Daily Unauthorised Overdraft Charge above). |
| Cumberland Account Plus and Offset Current Accounts | 13.54% EAR* (variable). 3.225% per quarter. Representative Example: If you use an arranged overdraft of £950 the interest we will charge you is 13.54% EAR (variable). | Representative Example: No interest will be charged (please see Daily Unauthorised Overdraft Charge above). |
The overdraft interest rates shown are variable. *EAR stands for Effective Annual Rate. Interest is charged on current account overdrafts for the period of time the account is overdrawn. The interest charged for each of the quarters ending 30 June, 30 September, 31 December and 31 March will be deducted from current account balances around the 25th day of the month following the dates shown. We will give you at least 14 days’ notice, by personal notice, before we deduct overdraft interest from your account.
An overdraft can be useful for short term borrowing, for example to cover your expenses until pay day. 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.
If you use a Cumberland current account to make payments when:
- you do not have enough money in your account and have not agreed an authorised overdraft with us; or
- the payment takes you over the limit of your authorised overdraft; you may have to pay charges as a result.
The table below gives some examples of our charges for making payments from your account when you haven’t enough money.
We developed these examples with the relevant regulatory bodies and leading consumer groups to help you to think about how changing the way you use your account can affect the amount we may charge you.
These examples are meant to show how different actions can result in different charges.
They are only examples so you shouldn’t see them as actions you might take and charges you might have to pay.*
We may not allow you to use your account in the ways shown below. You should avoid going overdrawn wherever possible and you should contact us if you need help to manage your account.
We could add other charges and interest to your account if you try to make payments when you do not have enough money. Click here for details of all the charges and interest rates for these accounts.
Choose an example below which shows how you might manage your current account. If you have recent bank statements, use these to help you choose. Once you have worked out reasons why you might be charged, it could help you to avoid charges in future.
| Reasons that you might be charged | ||
| 1 | We refuse a payment from your account because there is not enough money in your account | £10 |
| 2 | A payment from your account takes you into an unauthorised overdraft by less than £10. You are overdrawn for one day during the month | £0 |
| 3 | A payment from your account takes you into an unauthorised overdraft and you make another payment from the account while you are overdrawn. You are overdrawn for two days in a row during the month | £20 |
| 4 | A payment from your account takes you into an unauthorised overdraft, and you make nine more payments from the account while you are overdrawn. You are overdrawn for 10 days in a row during the month | £50 |
| 5 | A payment from your account takes you into an unauthorised overdraft. You are overdrawn for one day. However, on three more occasions during the month, a payment takes you into an unauthorised overdraft. On each of these occasions you are overdrawn for three days in a row | £50 |
| 6 | A payment from your account takes you into an unauthorised overdraft. You are overdrawn for 21 days in a row during the month and you make 12 more payments from the account while you are overdrawn | £90 |
* Example (3) assumes that both payments made result in your balance being more than £15 into an unauthorised overdraft. The total charge may therefore be lower than that shown in the table.
* Examples (4) and (6) assume that each payment is processed on a different day. A maximum of two charges per day will be made in respect of these items and the total charge may therefore be lower than that shown in the table.All of the above examples only apply to personal current accounts.
| Service | Charge |
| Stopping payment of a cheque | £5 |
| Copy of a paid cheque or payee details | £5 |
| Replacement for a lost card and personal identification number (PIN) | £7.50 |
| Replacement for a card or personal identification number (PIN) | £5 |
| Duplicate statements of account transactions | £2 per statement |
| Replacement for a lost passbook | £10 |
| Processing same day CHAPS payments to other UK banks or building societies | £25 |
| Commission charge on sale of sterling travellers cheques | 1.5% |
| Service | Charge | Charge debited |
| Underfunding Charge Incurred for any full calendar month when your account is not funded in accordance with the conditions of the account. Applies to Cumberland Plus, Cumberland Day2Day, Money Management and 24/7 accounts. |
£2 | This charge will be debited on or around the 25th day of the following month. |
| Chequebook Charge Each chequebook issued. Applies to Cumberland Day2Day, Money Management and 24/7 accounts. |
£5 | This charge will be debited on or around the time of the request. |
| Counter Cheque Charge Each Counter Cheque requested, either at a branch or by contacting our Head Office. Applies to Cumberland Plus, Offset, Standard Current, Reward, Plus, Cumberland Day2day, Money Management, Cashcard and 24/7. |
£1.50 | This charge will be debited on or around the time of the request. |
| Counter Cash Withdrawal Charge Each request to withdraw cash at a branch counter for an amount of £10 or less (not applicable to customers aged 16 or under). Applies to Cumberland Day2Day, Money Management and 24/7 accounts |
50p | This charge will be debited on or around the time of the request. |
These charges also apply to some of our closed issue accounts. Please contact us to find out more information.
The overdraft interest rates shown are variable. *EAR stands for Effective Annual Rate
Updated 19/02/16
| Service | Charge |
| Transferring Euros to another European country (transfer should arrive the next bank working day) | £12 |
| Transferring in currencies other than Euros and/or to non European countries (transfer should arrive within a maximum of 5 working days) | £20 |
The recipient of the funds will also be subject to a charge. We regret we cannot confi rm in advance the amount of any such charge.
If an investigation is required into an overseas transfer, for example, if there is a delay in the funds being received by the beneficiary, if the funds are returned, or if further information is required to place the funds, a £25 charge is payable.
Accepting foreign denomination cheques and sterling cheques drawn on a foreign bank account
Charges are payable for these services and are made both by our bankers and the bank on which the cheque is drawn (the drawing banker). We cannot confirm in advance the rate of exchange which will apply or the amount of the charges, but for guidance they could be as high as £60. All charges will be deducted from the amount converted and the net amount will be credited to your account. Please allow at least eight weeks for these cheques to be paid by the drawing banker. The rate of exchange which will apply will be the rate applicable on the date the cheque is paid by the drawing banker. We will normally not accept such cheques for amounts less than £100.
You can use your Cumberland Visa Debit Card to pay for goods and services, or to withdraw cash at a cash machine, wherever you see the Visa sign. When you use your Cumberland Visa Debit Card to carry out a transaction in a currency other than sterling, unless you are offered and accept a currency conversion rate at the time, transactions will be converted into sterling at the exchange rate on the date they are received by Visa in the UK. To get an idea of the exchange rate that would be used, you can view the Visa wholesale rate of exchange here.
This rate is indicative only, because such transactions are processed and converted when the retailer sends them to Visa. This is not always on the same day as the transaction itself.
If your 16-digit Visa Debit Card number starts with 4658 5520 or 490971, we will not charge you to use your card for transactions in a foreign currency. However, if your 16-digit Visa Debit Card number starts 4658 5550 or 475148, we will make a charge of 2.5% of the transaction amount. In addition, the retailer or cash machine provider may apply a charge, regardless of your account type.
More Information
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Account funding
You must pay in at least £750 per month from an external source. Cash, cheques and transfers from other personal Cumberland accounts do not count towards the minimum funding requirement. Transfers from Cumberland Business accounts do count towards the minimum funding requirement and, in the case of joint accounts, one such source of income is acceptable.
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.
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Who can apply
We welcome new applications from new and existing customers who live within our branch operating area
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
Our operating area is:
- Cumbria (all CA and LA postcodes)
- South-West Scotland (all DG postcodes and TD9)
- West Northumberland (NE45-49)
- North Lancashire (all PR, FY, LA AND BB1-2 and BB5-7)
- Charges
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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.
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Opening an account in branch
You need to arrange an appointment at your local branch (Monday to Saturday):
- Click here to book an appointment online now
- Call into your local branch and speak to one of our team
- Call us on the number in the footer
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
If you open an account as a trustee, we will need proof of identity and evidence of address for both you and the account holder. If you do not have any of the above, please contact us before you visit.
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Full account details
Minimum age
18 You must be 18 years old or older to apply for this account Must be main account
Yes You must confirm that this is going to be the primary account through which you conduct your personal banking Minimum funding requirement
£750 per month 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. Charge if funding requirement is not met
£2 per month 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. Current Account Switch Service
Yes You can switch your account to us in 7 Days by our team based in Carlisle, guaranteed. Standing Orders & Direct Debits
Yes A standing order is a way of setting up a regular, fixed payments from your account. You can set a payment to be taken at a certain frequency (for example, the 1st of each month) for a set amount of time, such as six months. Your payments will consist of money set at an amount chosen by you. A Direct Debit is an instruction from you to authorise an organisation you want to pay to collect varying amounts from your account – but only if you’ve been given advanced notice of the amounts and dates of collection. Once you have agreed those, the money is deducted automatically. If the organisation you are paying wants to change an amount or date of collection, they have to tell you about it first. Contactless Visa debit card
Yes Payments are simple, quick and secure with a Visa debit card. You can use your card anywhere you see the Visa sign. You can easily pay for goods in shops and stores by Chip and PIN or contactless. Chip and PIN has no limit as long as you have sufficient funds in your account. The limit for contactless is £30 with a physical debit card. Verified by Visa and One Time Passcode protection
Yes Verified by Visa (VbV) is a free service provided by Visa and Cumberland Building Society which provides password protection and helps prevent another person using your Visa debit card online at participating VbV online retailers. Withdraw cash at Link ATMs across the UK
£300 per day You can withdraw cash at any LINK and Visa ATM in world. Mini statements from Cumberland ATMs
Yes You can print mini-statements at any Cumberland ATM Find an ATM and withdraw cash at any LINK and Visa ATM in world. Withdraw cash at Cumberland branches
£500 per day You can withdraw cash at any Cumberland ATM. Foreign currency transaction charge
Free3 Unlike most banks, we won't charge you to use your Cumberland Visa debit card abroad, or to make transactions in foreign currencies (with most Cumberland current accounts). The provider of an ATM or retailer may apply a charge. Cheque book
Free (on request) You can request a cheque book Statements
Free You will receive monthly statements for your account Use of all Cumberland branches
Yes All 34 Cumberland branches are open 6 days-a-week Internet banking
Yes Our full range of internet banking services are available on computers, tablets and smartphones. Mobile banking App
Yes Available for iPhone and Android phones Text alerts
Yes You can choose to receive alerts to your mobile phone by text message when your balance falls below a value of your choice. Also, for security, when your Internet Banking Access Code has been changed and access suspended. Pay2Mobile (Mobile Payments)
Yes Send & receive money using a mobile number with Pay2Mobile. It is part of Paym, which connects over 40m current accounts and mobile numbers in the UK. For when cash isn’t to hand and sharing account details is a hassle. Customer Service Helpline
Yes Here for you 7 days a week, our friendly team based in Carlisle are here to take your call and reply to your messages Overdraft facility available
Yes (on request - subject to status) An overdraft can be useful for short term borrowing, for example to cover your expenses until pay day. The advantage of an overdraft is it is flexible and you can dip into it at any point over the agreement period. Credit interest paid into your account
Minimum balance £1
Variable Gross Interest4/AER50.10%The interest rate you will receive on your account balance. 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. Annual Equivalent Rate (AER) illustrates what the interest rate would be if interest was paid and added each year. Authorised overdraft interest rate
9.99% p.a. variable EAR6 EAR – Effective Annual Rate. Representative example: If you are overdrawn by £700 for 14 days you will pay interest at 9.99% variable. The total charge for this credit would be £2.26 Credit interest rates correct at 8/11/11.
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Day2Day Account
The Day2Day account offers a simple, convenient and safe way of managing your money. It only requires £200 per month funding for those aged 24 and over, and there is no minimum funding requirement for those aged 23 and under2.
You can apply for a Day2Day Account in your local branch. Book an appointment here now or find your local branch.
Full account details
Minimum age
131 Must be main account
Yes Minimum funding requirement
£200 per month for those aged 24 and over. No minimum funding requirement for those aged 23 or under 2 Charge if funding requirement is not met
£2 per month3 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
2.5% of transaction4 Cheque book
Available on request to over 18s5(£5 charge per cheque book) Statements
Free6 Use of all Cumberland branches
Yes Internet banking
Yes7 Mobile banking
Yes Text alerts
Yes Pay2Mobile (Mobile Payments)
Yes Customer Service Helpline
Yes Overdraft facility available
No Credit interest paid into your account
Minimum balance £1
Variable Gross Interest8/AER90.00%Credit interest rates correct at 8/11/11.
- Applications from 13-15 year olds must be approved by a parent/guardian.
- You must fund your account with at least £200 per month from an external source. Transfers from other personal Cumberland accounts (except current accounts which require funding of £750 or more per month) 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 to customers under 24 years of age. In the case of joint accounts, one such source of income is acceptable.
- 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.
- A fee of 2.5% of the transaction amount will be charged for every foreign currency transaction. The provider of an ATM or retailer may also apply a charge.
- In the case of joint accounts, all account holders must be over 18 for a cheque book to be issued. The £5 charge for a cheque book will not apply if the account holder also holds a current account which requires funding of £750 or more per month.
- 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.
- Internet Banking is a requirement for all new accounts where all applicants are under 24.
- 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.
- Annual Equivalent Rate (AER) illustrates what the interest rate would be if interest was paid and added each year.
PERSONAL SAVINGS ALLOWANCE
Documents To Download
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.
Please click here for further information or visit www.fscs.org.uk.