The table below shows the Society’s base rates from 1 February 2009.
|Date||Residential||Buy To Let||Commercial|
|1 February 2009||4.49%||5.40%||4.99%|
|1 October 2016||4.24%||5.40%||4.99%|
|1 January 2018||4.49%||5.40%||4.99%|
If after opening a savings or current account you find that you are not happy about your choice of current or savings account (except for a fixed rate account) you may cancel it within 14 days of:
We will then help you switch to another one of our accounts or we will give you all of your money back with any interest you have earned. The interest we pay to you in these circumstances may be calculated at the rate advised at the time for our Instant Savings account. If your account has been overdrawn you may be required to repay any debit interest owed before the account can be closed. We will however ignore any notice period and any extra charges.
If you do not exercise your right to cancel during this period, you will be bound by these terms and conditions.
If you are receiving money into your account or setting up a direct debit instruction to pay a third party, it is your responsibility to provide the payment originator with the correct sort code and account number.
For Faster Payments, Bacs and CHAPS you should quote sortcode 16-52-21 and your eight digit Cumberland account number. These can be found on your account statement, on your Visa Debit card, on Cumberland Internet and Mobile Banking and on Pay2Mobile.
For bank transfers from overseas, you should quote the SWIFT BIC (Bank Identifier Code) and IBAN (International Banking Account Number) displayed at the top of your account statement. Alternatively you can obtain this information by visiting your local branch or calling our Customer Service Helpline on the numbers below.
If you are having problems logging on to Internet Banking or the Mobile Banking App please follow the guidance below:
|Forgotten User Name||Call us|
|Forgotten Access Code||You can reset your Access Code by selecting the link on the logon page. Otherwise please call us|
|Forgotten Memorable Word||Call us|
|Access Suspended||Call us|
|Forgotten Passcode||You can reset your Passcode by selecting the link on the logon screen. Otherwise please call us|
|Access Suspended||Call us|
|Forced to re-register when using the App||You may not have enough storage space on your mobile phone. You can check and manage your available storage space by accessing the Settings option on your phone. If you still experience problems, please call us|
Contact us as soon as possible if you lose your cash card, debit card, mobile phone, cheque book or passbook by calling our Customer Service Team on 01228 403141.
If you are calling outside the Society's normal opening hours, it is important that you leave a message on the automated service.
Your liability for any fraudulent transactions will cease at that point, unless you are deemed to have acted negligently in any way or breached the Society's terms and conditions relating to the security of your card and/or PIN.
There are many thousands of forgotten bank and building society accounts in the UK, known as ‘Dormant Accounts’. The definition of a dormant account under the Dormant Bank and Building Society Accounts Act 2008 is one that has had no customer initiated activity for fifteen years or more. The Society is committed to making contact with as many affected customers as possible to reunite them with their funds.
If you think you may have a lost or forgotten account with the Society, all you need to do is either:
Ownership of money in these accounts always remains with the customer or their beneficiaries regardless of how much time passes. Customers with accounts identified as ‘dormant’ will retain full membership rights (where applicable). It is also possible to trace another person's lost account if you are legally empowered to do so.
If you're unable to visit a branch, we can accept a request to change your details by post. Please include in any correspondence your full name, account number and signature. For any supporting documentation, please send the original or a Solicitor certified stamped copy.
We cannot currently accept changes to your details over the telephone.
We will require your full new address, including your postcode. Please note that we can't change an address without a postcode. You will need to bring along your account number and identification (e.g. driving license, passport). If your account is a joint account, both signatories will need to change their details; however you do not have to come into branch together. Please note we can't change the other account holder’s address without his or her written authority.
We will require your new name along with proof of your name change (e.g. Marriage certificate, Decree Absolute, deed poll).
We will require your full new contact numbers.
If you live outside our branch operating area, we can accept your signed instruction to change your details by post.
We support The Banking Conduct Regime which is regulated by the Financial Conduct Authority and are covered by the Financial Ombudsman Service. We have an internal complaints procedure to help resolve any problems you may have concerning the operation of your account.
As you may be aware, the Financial Conduct Authority (FCA) regulates the sale of mortgages, to ensure that we and other mortgage lenders comply with rules and standards in all our dealings with you.
Changes to interest rates will normally be notified to customers by letter or a combination of notices and leaflets in branches and advertisements placed in a selection of the following newspapers circulating in various parts of Cumbria, South West Scotland and West Northumberland:
The Charitable Assigment is the scheme under which all investing members of the Society who joined after 16th November 1998 are obliged to assign any potential conversion benefits to the Charitable Foundation.
This is an irrevocable condition of new members opening new investment accounts.
The Society, along with a number of other building societies, in the past has suffered disruption to its business as a result of the high number of enquiries from people wishing to open accounts, largely to benefit from potential windfall gains which might be paid in the event of the Society being taken over or converting to a public limited company.
If you have been a constant member of the Society, with no break, since before 16th November 1998 and open another account now, charitable assignment will not apply.
To help you during this difficult time, we have put together a practical guide which includes all the information you need to know in order to organise the financial matters of your next of kin or someone close to you.
The Money Advice Service has launched a financial health check which is based around a series of multiple choice questions on personal budgets. The questions focus on a customer's attitude to money, looking at your current situation in relation to savings, debt and housing costs, as well as considering future changes to income or circumstances.
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.