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 |
Yes3 |
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 |
Free4 |
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 Gross5 AER6 - 0.00% |
Arranged overdraft interest rate |
14.99% p.a. variable EAR7 Representative example: If you use an arranged overdraft of £700 the interest we’ll charge is 14.99%. |
Access to eSavings account |
Yes |
Statements |
Free |
Credit interest rates effective from 01/07/20.
| Minimum balance | What is the interest rate? (Variable Gross Interest1/AER2) |
£1 |
4.10% |
| Interest paid | Interest is calculated on a daily basis, and is paid gross (without deduction of tax) annually on 31 March. |
| 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 only who live in our operating area. The account can be opened at any Cumberland branch or online. The account must have a minimum opening balance of £1. Only one sole account or one joint account per customer. Maximum balance of £50,000 for sole and joint accounts. There are several ways you can open and manage your account. You can book a telephone appointment with one of our friendly advisors who can take you through the application process or help you with your account at any time. Visit any of our Cumberland branches for support in person. To book an appointment with one of our branches click here. If you are already a Cumberland customer with an internet enabled current account, you can manage your account online. Once you are an account holder, our Customer Service Team are also available to help you on 01228 403 141. |
| Can I withdraw money? | Yes. Instant access withdrawals via online transfer to your Cumberland current account. Withdrawals 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 or Freedom Apprentice current account, your eSavings account will, in the absence of any alternative instructions be closed. No bonus payment applies to this account. |
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
Apple Pay is simple to use in shops, apps and on the web. Pay with your Cumberland debit card with just a touch
You already use your phone for just about everything. Now you can pay with it using Google Pay in shops and apps too
Have any questions about this account? Click the button below to find out more, call (01228) 403 141 or visit your local branch.
Find out more about the fees for using the main services linked to our individual current accounts.
A range of documents for you to download, providing more information about our Current Accounts.
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.
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 www.fscs.org.uk.