How do I make my opening deposit and any additional deposits?

POSTED: 11th March 2020
IN: Business Savings FAQs

You can make deposits by Faster Payments, BACS, CHAPS or standing order. Simply contact your bank or building society and give them the following information:

Account Number: Your Aldermore Business Savings Account Number (this is an 8 digit number that you can find on the first screen in Internet Banking, listed under accounts).

Sort Code: 23-33-43

Beneficiary Name:
Your Business' Name

Payment Reference:
You can choose your own payment reference and we suggest you choose a name that'll help you easily identify your transactions on your bank statements. e.g. Aldermore Business Savings.

Please make sure your bank correctly quotes the account number and sort code when they make this payment. Without it your payment may be rejected and returned to you without interest.

Confirmation of Payee has been introduced by some banks for electronic payments. This service checks the name on the account in the payment instruction against the name on the account where the payment is being sent. If you use one of the banks who’ve implemented confirmation of payee, payments to your Aldermore Business Savings account will show confirmation of payee unavailable, as we haven’t implemented this service. The service won’t stop you making a payment, but if you’re in any doubt about the payment details or you get any response other than a match, you should make sure that the details you’ve given are correct.  

If you have an existing Aldermore Business Savings Account that allows transfers, you can also move money to your new account in Internet Banking  simply by clicking on the account that you want to transfer money from and selecting the 'Transfer Between My Accounts' link.

For Fixed Rate Accounts, once you've made your opening deposit you have a further 14 days to put more money into your account and benefit from the same interest rate. For the Customised Fixed Rate Account, the initial deposit and any additional deposits you wish to make must be received with 14 days of the account being opened.

Can We Help With Anything Else? Email Us Call Us: 01733 821 321

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