Frequently Asked Questions

The links below provide answers to the most common questions relating to our Holmesdale Savings accounts.

Applying for and opening a new account

What identification documents do I need to supply when opening a new account?

Please see our Identification Requirements guide or contact a member of our savings team on 01737 232320 

When opening a new account, who should the cheque be made payable to?

For security, the cheque should be made payable to the account holder(s).

Cash is also accepted.

How do I register to claim tax-free interest on my savings?

Due to the introduction of a Personal Savings Allowance, we no longer deduct tax from the interest you earn.

More information can be found here 

Can I open one of your savings accounts if I live abroad?

We only offer new savings accounts to individuals who are resident within the UK.

What if I decide I no longer want my savings account?

If you are unhappy about your choice of account within 15 days of opening it, you must tell us in writing and we will then be able to help you switch accounts or give you your money back with interest. The 15 day period commences on the day the account is opened. We will ignore any notice period or any additional charges.

Maintaining your savings account 

Paying in to your account - How do I make a further deposit?

Paying in to your Holmesdale account is easy and can be done via bank transfer, cash, cheque, standing order or transfer from another HBS account (subject to account terms & conditions and cleared funds being available). We do not advise sending cash via the postal system.

If you would like to pay into your account via standing order a mandate is available for you to download which can be completed and returned to your own bank. Please remember to quote your Holmesdale account number as a reference on the form.

If you are making a deposit by cheque, please make it payable to the account holder, with the receiving account number and send it to our head office address.

Do you accept bags of coins?

We will accept up to 10 correctly denominated bags of coins per customer per day.

I have paid a cheque into my account, how soon can I withdraw funds?

When you pay a cheque into your account it will start to earn interest on the day after the deposit is made.

As we are not a clearing bank, please allow six whole working days to elapse before the funds will be available to withdraw. Therefore, if a cheque is paid in on a Monday, funds will be available to withdraw the following Tuesday.

How do I make a withdrawal?

Cheque Withdrawals

Subject to the withdrawal conditions of your account, you may need to provide notice to make a withdrawal. Please see 'How do I provide notice to make a penalty-free withdrawal?'

To make a cheque withdrawal simply write to us at our head office address (where your account has a passbook please enclose this with your written request). We process all requests on the day of receipt and send out cheques by first class post. Alternatively, you can visit us in our branch. A day's notice is required for cheque withdrawals of £100,000 or more.

Please note that cheques are valid for 6 months from the date of issue.

Cash Withdrawals

Cash withdrawals can be made in person at our branch subject to the withdrawal conditions of your account. The amount that can be withdrawn per person per day is limited to £300. If you require more than this amount, please see 'Can I transfer funds to my personal bank account electronically?'. If your account is passbook based you will need to bring this with you. 

Electronic Withdrawals

For withdrawals by CHAPS and Faster Payments, please see the section below 'Can I transfer funds to my personal bank account electronically?'.

How do I provide notice to make a penalty-free withdrawal?

Depending on the type of account, you can put your account on notice by either writing to us or visiting us in branch. Simply provide details of the account and when you want the notice period to start.

If your account is passbook based please provide this with your instructions.

Can I transfer funds to my personal bank account electronically?

We offer a free 'Next Day Faster Payment' service for withdrawals to your bank account. Signed instructions are required before 3pm on a working day, excluding Saturdays. Funds will be received by your bank on the next working day. Requests received after 3pm or on a Saturday will be processed on the next working day.

If you require your funds on the day, for a small fee we can arrange for 'Same Day Faster Payment' provided that your instruction is received by 3pm. After 3pm or on Saturdays your instruction will be processed on the next working day. 

Faster Payments are restricted to an amount of £100,000 and can only be made to banks participating in the scheme.

Withdrawals in excess of £100,000 can be made directly to your bank account via CHAPS but 1 day's notice may be required. Please note there is a charge for this service.

If your account is passbook based you will need to provide this with your instructions.

Please click here to see our Savings Tariff of Charges for administration fees.

How do I update my personal details?

If you need to notify us of your change of address please advise us in writing, signed by all parties to the account. You can download and complete our 'Customer Changes Form' here.

Younger savers over the age of 7 are required to sign a change of address in their own right. In addition, if you are an administrator for a young saver, please inform us of any changes in your personal details.

If you have recently changed your name, we will need sight of an original or certified copy of your Marriage Certificate, Deed Poll or Decree Nisi. Copies must be certified by a professional in accordance with our Identification Requirements.

Do I need to request a 975 tax certificate or am I sent one automatically at the end of the year?

If you would like a tax certificate to be sent to you automatically at the end of the financial year, please let us know. If you require a tax certificate for previous years, please contact us so we can arrange for one to be issued.

I have lost my savings account passbook, what should I do?

For security reasons, if your passbook has been lost or stolen you should immediately contact a member of our Savings team, who will send you a Lost Passbook form so that a new passbook can be issued.

If, once we have issued you with a replacement passbook, the original one comes to light, please forward this to our Head Office for cancellation.

Please note a charge may become payable for any replacement passbooks issued a second and each subsequent time.

In some instances proof of Identification may be required.

The account number is different on my correspondence to my passbook, why is this?

In October 2011 the Holmesdale Building Society upgraded its computer system resulting in all accounts now having a 10 digit account number as opposed to the original 11 digits. The new system, is able to recognise either the 11 or 10 digit number.

If you have any concerns please contact a member of our savings team.

Why is my ISA inactive and how do I reactivate it?

An ISA becomes inactive if there is a break in your subscriptions for a whole tax year or more (if you have not paid in during the last tax year). Your account remains open and continues to earn interest and you can still make withdrawals. However, to make further subscriptions into your ISA, it is a requirement by HMRC that a new ISA Renewal form is completed. Please contact our Head Office to request a form.

Can I transfer my existing Cash ISA to the Holmesdale?

Please see the Terms & Conditions of your Holmesdale ISA.

How do I transfer my Holmesdale Cash ISA to another provider?

You should check the terms of your Holmesdale Cash ISA account for any notice or penalty conditions that may apply. Please be aware that notice will be required for a penalty-free transfer. Please also arrange to forward your passbook for updating.

To complete the transfer we will need to be in receipt of a Transfer Authority from your new provider.