Cumberland Plus Current Account

Choose from three easy ways to open your next current account.
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A competitive, comprehensive current account which includes the option of an overdraft but requires £750 per month minimum funding.
A full range of features you would expect from a bank account, including online and app banking
Current Account Switch Guarantee
Current Account Switch Guarantee
Switch from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days.
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Account Summary

  • Cumberland Plus Current Account
    Application
    Online or in branch
    Minimum age
    18
    Must be main account
    Yes
    Minimum funding requirement
    £750 per month1
    Charge if funding requirement is not met
    £2 per month2
    Current Account Switch Service
    Yes
    Mobile banking
    Yes
    Internet banking
    Yes
    Contactless Visa Debit card
    Yes
    Apple Pay, Google Pay
    Yes
    Standing Orders & Direct Debits
    Yes
    Customer Service Helpline
    Yes
    Verified by Visa and One Time Passcode protection
    Yes
    Cash withdrawal in foreign currency outside the UK and debit card payments in a foreign currency
    Free3
    Use of all Cumberland branches
    Yes
    Cash withdrawal in pounds in the UK at Link cash machines
    £300 per day
    Cash withdrawal at Cumberland branches
    £500 per day
    Text alerts
    Yes
    Mini statements from Cumberland cash machines
    Yes
    Cheque book
    Free (on request)
    Arranged overdraft facility
    Yes, on request - subject to status
    Credit interest paid on your account
    Minimum Balance - £1
    Variable Gross4 AER5 - 0.00%
    Arranged overdraft interest rate
    14.99% p.a. variable EAR6
    Representative example: If you use an arranged overdraft of £700 the interest we’ll charge is 14.99%.
    Access to eSavings account
    Yes7
    Statements
    Free

    Credit interest rates effective from 01/07/20.

    1. You must fund your account with at least £750 per month from an external source (ie. excluding cash, any cheque or an internal transfer from another Cumberland account). 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.
    2. 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 this leaflet on page 14.
    3. The Cumberland does not charge you to use your Cumberland card but the provider of a cash machine or a retailer may apply a charge.
    4. Gross rate 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.
    5. Annual Equivalent Rate (AER) illustrates what the interest rate would be if interest was paid and added each year.
    6. Effective Annual Rate (EAR) is the actual annual rate of an arranged overdraft. It does not take into account other fees and charges.
    7. Internet Banking is a requirement of this account.
  • eSavings Account
    Account Name E Savings (Issue 3)
    What is the interest rate?

    4.10% Variable Gross Interest*/AER†

    Interest is calculated on a daily basis, and is paid gross (without deduction of tax) annually on 31st March into your associated Cumberland Plus or Freedom Apprentice current account.

    Can Cumberland Building Society change the interest rate?

    Yes – The rate of interest paid on money in your account is variable and may be changed by us. Where we do so, we will give you reasonable notice in advance of the change.

    Examples of when changes may happen include a change in the Bank of England base rate, or market condition changes such as, general interest rates changes on similar accounts offered by other savings account providers.

    For further details, please read clause 8.7-8.9 in our Savings & Current Account Terms & Conditions leaflet.

    What would the estimated balance be after 12 months based on a £1,000 deposit?

    If £1,000 was deposited in the account on opening on 1 April, assuming no further deposits or withdrawals are made, on 31 March the account balance, including interest, would be £1,041.00.

    This figure is for illustrative purposes only.

    How do I open and manage my account?

    This account is available to open for internet enabled, Cumberland Plus and Freedom Apprentice current account customers. The account can be opened at any Cumberland branch or on internet banking.

    • Minimum balance £1
    • Maximum balance £50,000

    Only one sole account or one joint account per customer.

    The minimum balance must be maintained in the account. If the account balance falls below this at any time, the account may be closed.

    You can manage your account by using the Cumberland Internet Banking service or the Cumberland Mobile Banking App.

    Can I withdraw money?

    Yes – Instant access withdrawals via online transfer to your Cumberland current account.

    Withdrawals are not permitted by direct debit, standing order, regular internal transfer or faster payments.

    Additional Information

    If you close or de-register your internet banking Cumberland Plus and Freedom Apprentice current account your eSavings account will, in the absence of any alternative instructions, be closed.

    No bonus payment applies to this account.

    For full details of our Variable Rate products please refer to our separate leaflet. Download leaflet

    1. 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.

    2. Annual equivalent rate (AER) illustrates what the interest rate would be if interest was paid and added each year

Managing your banking

Internet Banking
Internet Banking

Our Internet Banking service is a simple and secure way to manage your money online.

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Apple Pay
Apple Pay

Apple Pay is simple to use in shops, apps and on the web. Pay with your Cumberland debit card with just a touch

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Google Pay
Google Pay

You already use your phone for just about everything. Now you can pay with it using Google Pay in shops and apps too

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Open Banking
Open Banking

Open Banking makes it easier for your to manage your finances, with new data sharing and payment options

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Fraud and Internet Security
Fraud and Internet Security
Keeping yourself and your money safe

We do a lot to help protect you from fraud. Take 5 minutes to read our top tips on what you can do to protect yourself even better from fraud.

Fraud Protection Tips
Mobile Banking
Mobile Banking

Download our Mobile Banking app and manage you accounts quickly and easily, wherever you are.

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Important Account Information

Documents to Download

A range of documents for you to download, providing more information about our Current Accounts.

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Charges and Terms

Find out more about the fees for using the main services linked to our individual current accounts.

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Cumberland Plus FAQs

Have any questions about this account? Click the button below to find out more, call (01228) 403 141 or visit your local branch.

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