FAQs about SIPPs, Corporate Customers and Accounts held in Trust or as Client Monies

  • Paying money into your account

    • How is my account protected?
    • As a UK bank, your money is protected by the Financial Services Compensation Scheme. This means that all the money you hold with us is guaranteed up to £85,000 per person (£170,000 for money held in joint names). Please note: this may not apply for some commercial organisations such as large companies, large partnerships or large mutual organisations. Please click here for more information.

    • How do I pay money into my Easy Access or Notice account?
    • You can pay money into your account in a number of ways:

      By BACS, CHAPS or Faster Payments

      Contact your bank or building society and quote the following details:

      * Our Account Number: 63684431
      * Our Sort Code: 20-19-90
      * Beneficiary: Aldermore Bank PLC
      * Reference: Your account number and surname or company name

      Important:

      If your bank or building society does not include your reference number when they submit your instruction, it may not be possible to allocate the funds to your account. In this case we will return the funds without interest .



      By Direct Debit

      If you have provided details of a nominated account**, simply write to us with details of the money you would like to move from this account. Please ensure it is signed by all appropriate signatories and allow at least 6 business days before the date on which you'd like the money to be in your account. Instructions should be sent to our freepost address. ** For information on nominated accounts, please see 'What is a nominated account?'.



      By Cheque

      Simply send us a cheque made payable to 'Aldermore re your account number or surname or company name'.

    • How do I pay money into my Fixed Rate account?
    • It is not possible to pay money into an existing Fixed Rate Account.
    • When does my money start to earn interest?
    • Money paid in by BACS, CHAPS, Faster Payments, Direct Debit or Standing Order will typically earn interest from the day of receipt. Money paid in by cheque will typically earn interest from the 2nd business day after the day of receipt.
    • When will my money be available for withdrawal?
    • Subject to account terms and conditions: Money paid in by BACS, CHAPS, Faster Payments or Standing Order will typically be available for withdrawal on the day of receipt. Money paid in by Direct Debit will typically be available on the 3rd business day following the day of receipt. Money paid in by cheque will typically be available for withdrawal on the 6th business day following the day of receipt.
    • What is a nominated account?
    • A nominated account is an account that we link to your savings account so that you can transfer money between accounts safely and securely whenever you like. It should be a UK personal bank or building society account in your name(s) that accepts Direct Debits.
  • Operating your account

    • How do I operate my account?
    • For information about your account or to make any changes, simply send us a written instruction, signed by all appropriate account holders, to our freepost address. We will typically carry out your instructions and confirm in writing to you within 5 business days of receipt of your instruction.
    • How often will I get a statement?
    • We will send you a statement by post in April each year and, if you have your interest paid monthly, we will send you a further statement in October.
    • Are there any charges for operating my account?
    • There are no charges for the day-to-day operation of your account, however there may be a small charge for some non-standard services, please see our Tariff of Charges for details.
    • Do I get a chequebook or a debit card with my account?
    • No.
    • How do I withdraw money from my Easy Access account?
    • Simply write to us with details of the withdrawal you'd like to make, ensuring the instruction is signed by all appropriate signatories. We typically move money to your nominated account by BACS which takes up to 4 business days or by cheque, payable to all account holders. Same-day CHAPS transfers are available although a £30 charge applies. Instructions should be sent to our freepost address.
    • How do I withdraw money from my Notice account?
    • Simply write to us with details of the withdrawal you'd like to make, including the date and ensuring the instruction is signed by all appropriate signatories. We typically move money to your nominated account by BACS which takes up to 4 business days from the day of the withdrawal or by cheque, payable to all account holders. Same-day CHAPS transfers are available although a £30 charge applies. It is not possible to withdraw money from your notice account without giving the full notice applicable to your account type.
    • How do I withdraw money from my Fixed Rate account?
    • It is not possible to withdraw money from your Fixed Rate Account during the term of the account. For this reason, you should only pay money in that you are sure you will not need access to for the full term.
    • How do I set up or change a regular payment?
    • Simply send us a written instruction, signed by all appropriate signatories, to our freepost address. We will typically carry out your instructions and confirm in writing to you within 5 business days of receipt of your instruction.
    • How do I add a signatory to the account?
    • Please call us and we will send you an Addition of Signatory form to complete and return to us. Please ensure it is signed by all appropriate existing signatories. When you complete the form, any new signatory will need to provide consent for us to check electronic databases to validate their identity. In some cases, we may also need personal identification documents.
    • How do I remove a signatory from the account?
    • Simply send us a written instruction, signed by all appropriate signatories, to our freepost address. We will typically carry out your instruction and confirm in writing within 5 business days.