What identity documents do I need to open a savings account?

Opening an account with The Loughborough could not be easier – simply read through our General Terms and conditions for Investment Accounts, complete an application form and take or post it to your nearest branch office along with your initial investment and identification.  All applications for postal accounts must be sent to our Head Office.

We may be able to verify your identity without the need for you to send any documents.  However, to ensure that your application is not delayed, please send a certified copy of one of the following government issued documents:

 If you are unable to send one of the above documents, we will need to see a certified copy of a government issued document incorporating your full name (without a photograph) plus a second document which should include your full name and either your residential address or your date of birth.

Please see the table below for examples, bearing in mind you will need one certified copy from both List A and List B:

We will not be able to open an account for you until the identity of all applicants has been verified. Copies of any documents should be certified by an appropriate person (such as solicitor, accountant, bank or building society official or other FSA regulated individual), who is not a relative. The certification should show the name and address of the witness and a statement that ‘This is a true copy of the original’ complete with the date.

For further information on why proof of identification is required, please ask for a copy of the leaflet ‘Proving Your Identity’, published jointly by the Building Societies Association and the British Bankers Association and ‘Fighting Crime and Terrorism: we need your help’ published by HM Treasury, The National Crime Intelligence Service and the Financial Services Authority. If you have any questions please call our Investment Team on 01509 631960.

Yes, we require a completed and signed application form for each account you open with the Society, even if you are transferring funds from an existing Loughborough account

All UK residents are able to open an account with us. There are age restrictions on some of our accounts and these are clearly marked on our product information.  Some accounts are only available  to those in our local area (postcodes LE, NG, DE) or existing members.

If you are a UK resident you can ask us for a form R85 - Getting your interest without tax taken off by downloading the form hyper link to form, by telephoning 01509 961960 or by calling into one of our branch or agency offices.

To check if you are eligible to receive interest on your savings without tax being deducted please visit the HMRC website at www.hmrc.gov.uk.

If you need any advice about tax you will need to contact your Tax office – we are not able to advise you about taxation issues.

Yes.

We will accept a request to transfer an ISA into the Society. Below are the requirements for the transfer:

Transfer In to the Society

To transfer an ISA into the Society, please:

• complete a transfer request form. These are available in our branch and agency offices or by telephoning 01509 631960
• if the transfer is to a new ISA, complete a Transfer ISA application form and return it to us with the transfer request form.
• if you are not an existing account holder with the Society, we also require you to forward the appropriate identification.

Once we have all the required documents we will:

• request the transfer from the other ISA provider
• if applicable, return original identification documents

On receipt of the funds and correct documentation from the other ISA provider, the Society will: 

• process the transfer
• confirm the details of the transfer in writing 

Yes.  To transfer an ISA out of the Society you will need to check if the other ISA provider will accept a transfer and complete any forms that are required by them.  Your new ISA provider will then ask The Loughborough to transfer your account.

On receipt of your request, the Society will:

• forward a cheque and a Transfer Out form to the new ISA provider
• write to you to confirm that the transfer has taken place
• where applicable, update and return the passbook

The Society will normally only require two working days notice to transfer an Instant Access ISA to another provider. The notice period will apply to the closed 30 Day & 90 Day Cash ISA accounts.

You can either call into your local branch or agency office or you can write to us at:

Loughborough Building Society

6 High Street

Loughborough

Leics

LE11 2QB

You must inform us of the death of an account holder by providing us with the original or a certified copy of the death certificate you can either post this to us at:

Loughborough Building Society

6 High Street

Loughborough

Leics

LE11 2QB

Or hand it to one of the staff at your nearest branch or agency office.

Copies can be certified by a UK lawyer, banker, authorised financial intermediary, FSA regulated mortgage broker, accountant, teacher, doctor, minister of religion or  postmaster/sub-post master.  The person undertaking the certification must be available for contact by the Society either by telephone or in writing.  Please ensure that the appropriate contact details are stated on the identification.

When certifying a document, the following wording must be used: "I certify that this is a true copy of the original".

Upon notification of this, if the account is a sole account, it is suspended until the necessary Statutory Declaration/Grant of Probate is received. The account is then closed and the funds distributed accordingly. In the case of joint accounts, the name of the deceased holder is removed from the account and it reverts to being a sole account.

To open or to start managing an existing account under a Power of Attorney you will need to contact our Savings team on 01509 631960

Details of all current interest rates for variable rate accounts are always available on our website. We also show historical rates from the last time rates changed.

Rates are also available in all of our branches or by telephone on 01509 631960.

Requests for withdrawals from postal accounts are processed at our Head Office and are sent to you by cheque.  Please note that you cannot make withdrawals on Postal accounts at our branches or agencies.

Yes, you can download a standing order form, request one from your branch or agency office or by telephoning 01509 631960.

For wages or credits into your account, please use sort code 30-00-80, account number 01781004 and ensure your Loughborough account number is quoted as the reference.

You can withdraw up to £500 in cash per day or £25,000 by cheque per day from our branches or agencies. Larger amounts of cash, up to £2,000, are available provided you give at least 24 hours notice.

The passbook must be produced at the time of the withdrawal and you cannot withdraw against a cheque receipt until 6 working days after the date of deposit.

There are no limits to the amount of funds that can be withdrawn by cheque from Postal accounts.

There are no fees for the general operation of your account, however, there are other charges we may make

Fees and charges may be amended from time to time and are shown on our interest rates leaflet

We will only send you a statement of account annually if you do not have a passbook recording the transactions on your account. 

Generally you will only need a 975 statement if you have to make a self-assessment tax return or want to claim tax back on interest you have already paid.

Yes you need to request a statement for all accounts on which you pay tax. You can also ask us to provide a Section 975 certificate for each of your accounts at the end of each tax year.

There may be occasions when you feel you have a complaint, in which case our staff will try to resolve the problem through our internal procedures. The Society is also a member of the Financial Ombudsman Service to which customers can appeal after internal procedures have been exhausted. Details of the scheme are available upon request from any office of the Society. We will respond to your initial complaint in two working days and we will finalise any investigation within one month and notify you of our findings.

Yes, under the scheme you may be entitled to compensation from this scheme if we cannot meet our obligations. The limit of compensation payments under the scheme is £85,000 per individual.

There are some exclusions under the scheme which can be found at http://fsahandbook.info/FSA/html/handbook/COMP/4/2