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:
How we can work together to make your money safe and secure
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.
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:
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.
Unfortunately we are unable to accept branch appointments at this time. Please call your local branch to arrange a telephone appointment. Branch opening times and contact details.
Unless you have an account with us already, we will need you to provide proof of your identity and evidence of your address. Acceptable documents include:
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.
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 we can make regular transfers, on your instruction, of a fixed amount of money from your account to another 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 where you permit someone else (recipient) to instruct us to transfer money from your account to that recipient. We then transfer money to the recipient on a date or dates agreed by you and the recipient. The amount may vary. 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 use your debit card to make a payment in pounds. This can be in a shop, online or over the phone. 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. |
Visa Secure and One-Time Passcode protection |
Yes | The Visa Secure service and One-Time Passcode (OTP) protection provides additional security and helps prevent your Visa debit card against unauthorised us. |
Cash Withdrawal in pounds in the UK at Link cash machines |
£300 per day | You can take cash out of your account in pounds at a Link and Visa cash machine, bank or Post Office in the UK. |
Mini statements from Cumberland ATMs |
Yes | You can print mini-statements at any Cumberland ATM. |
Cash withdrawal at Cumberland branches |
£500 per day | You can take cash out of your account in pounds at any Cumberland cash machine. |
Cash withdrawal and debit card payment in foreign currency outside the UK |
Free | Unlike most banks, we won't charge you for making Cumberland Visa debit card payments in a foreign currency, or for cash withdrawal in foreign currency outside the UK (with most Cumberland current accounts). The provider of an cash machine 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 |
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 Interest/AER 0.00% |
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. |
Arranged overdraft interest rate |
13.54% EAR* (variable) | Representative example: If you use an arranged overdraft of £250 the interest we will charge you is 13.54% EAR* variable. |
Unarranged overdraft interest rate |
13.54% EAR* (variable) |
Credit interest rates correct at 01/07/2020.
* Effective Annual Rate (EAR) is the actual annual rate of an arranged overdraft. It does not take into account other fees and charges.
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.
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 |
Visa Secure and One Time Passcode protection |
Yes |
Cash withdrawal at Link cash machines in the UK |
£300 per day |
Mini statements from Cumberland ATMs |
Yes |
Cash withdrawal at Cumberland branches |
£500 per day |
Charges for debit card payment in a foreign currency |
2.5% of transaction4 |
Charges for cash withdrawal in foreign currency outside the UK |
2.5% of transaction4 |
Cheque book |
Available on request to over 18s5(£5 charge per cheque book) |
Statements |
Free |
Use of all Cumberland branches |
Yes |
Internet banking |
Yes6 |
Mobile banking |
Yes |
Text alerts |
Yes |
Pay2Mobile (Mobile Payments) |
Yes |
Customer Service Helpline |
Yes |
Overdraft facility available |
No |
Unarranged overdraft interest rate |
14.99% EAR7 (variable) |
Credit interest paid into your account |
Minimum balance £1 Variable Gross Interest8/AER90.00% |
Credit interest rates correct at 01/02/18.
On 6 April 2016, the Government introduced a Personal Savings Allowance, which is the amount of interest you can earn on your savings without paying tax. This applies to individuals only, as businesses, charities and clubs, already receive interest without tax.
The tax-free allowance on savings is £1,000 for basic rate taxpayers and £500 for higher rate taxpayers. There is no allowance for additional rate taxpayers.
As a result, tax is no longer deducted from the interest paid on your savings accounts, investments and current accounts.
Click here to read more about the Personal Savings Allowance.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.