Things you need to know

Notice Accounts

  • You will need a UK bank or building society account in your name to link to your Wyelands Bank savings account. This account needs to accept Faster Payments, CHAPS or BACS payments and we will only accept and pay payments to and from this account. This helps keep your money safe and secure from fraud. Payments received from any other account will be returned
  • Deposits can only be made directly from your nominated UK bank or building society account by Faster Payments, BACS or CHAPS. You have 14 calendar days from account opening to make as many deposits as you would like, however after this period no further deposits are permitted. We do not accept cheque payments
  • Interest will be paid from the date on which we receive your money
  • Under the Personal Savings Allowance, the first £1,000 on interest income on non-ISA savings is paid tax free for basic rate taxpayers and the first £500 for higher rate taxpayers. No Personal Savings Allowance applies if you’re an additional rate taxpayer. For further details on how tax will be collected and calculated please refer to HMRC guide to the Personal Savings Allowance or visit gov.uk.