Paying money in and transferring money

How do I pay money into my Business Savings Account?

You can make payments from your linked nominated account, using one of the following options:

CHAPS
Faster payments
BACS
Standing order

We don't accept cheque or banker's draft payments.

These are the details you'll need when making a deposit:

Account number: Your Aldermore business savings account number (you can find this 8 digit number on the first screen of internet banking listed under accounts)
Our sort code: 23-33-43
Beneficiary name: Your business name
Payment reference: You can choose your own, although we suggest Aldermore Business Savings.

If you have an existing Aldermore business savings account that allows transfers, you can also move money to your new account. Log into internet banking and click on the account that you want to transfer money from selecting the 'Transfer Between My Accounts' link.

For Fixed Rate accounts you have 14 days to make your first payment to benefit from the rate guarantee.

Please be aware that we don't use confirmation of payee. If you're paying money in from a bank account that does use this service, payments to your Aldermore account will show confirmation of payee unavailable. This doesn't mean your deposit has been unsuccessful or stop you paying in. If you're in any doubt, always check with your bank.

 

How soon do I need to pay money into my account and can I pay in at any time?

Easy Access accounts
If you've got an Easy Access account you need to make the first payment into your account within 45 days of opening it. After that, you can pay in at any time.

Fixed Rate accounts
If you've got a Fixed Rate account you need to pay money in within 30 days of opening it. After making this initial deposit, you've got a further 14 days where you can put more money into your account and still benefit from the same interest rate. After this, you won't be able to make any further payments into your account.

All intitial deposits need to be made by 2pm on the last banking day of the timescale given above. If you don't pay money in within the timescale given, your account will be closed.

 

When will money be credited to the account?

BACS, standing order or faster payments
If you pay in using any of these methods before 6.30pm, your money will be in your account on the same business day. You can withdraw your money on the same day. If we receive your payment after 6.30pm, your money will be in your account on the following business day.

CHAPS
If you pay in ujsing CHAPS before 2pm, your money will be in your account on the same business day. You can withdraw your money on the same day. CHAPS transfers received after 2pm will be in your account on the following business day.

How do I transfer funds between my Business Savings accounts?

You can transfer money between your accounts online if you hold an Easy Access or Fixed Rate with Access account.

If you have one of these accounts, a transfer money between my accounts link will be displayed in the account tools section in the bottom right-hand corner of the internet banking screen. If this link isn't displayed, your account type isn't eligible to make transfers.

To transfer, click the link and choose the account you want to transfer from you'll see the instructions on screen in internet banking.