We have grouped our Frequently Asked Questions (FAQs) by topic. Click on a link below to go directly to each group of questions.
General
Financial Services Compensation Scheme (FSCS)
Direct Debit Mandates (DDM)
Clearance Times & Effective Dates
Interest & Statements
Transfers
Changes
Contact Us
Dormancy
Security
Online Servicing
Q. What are your current interest rates?
A. Go to our Rates page for full details.
Q. What type of personal accounts do you offer?
A. Standard Life Bank offers a range of savings accounts for personal savers - such as our Direct Access Savings Account and our Cash ISA. Take a look at our Personal Savings section for more information.
Q. Can my business have an account with Standard Life Bank?
A. Yes, we offer a range of savings accounts for business savers - such as our Premium Direct Access Savings Account and Fixed
Rate Bonds. Take a look at our Business Savings section for more information.
Q: How do I open an account?
A: You can use our online apply facility if you want to open a Direct Access Savings Account or a 50 Day Notice Account. For all other account types, please call us on 08457 555 657.
Q: How do I close my account?
A: Please call 08457 555 657 if you would like to close your account.
Q. Do you offer internet banking?
Yes, and it's easy to get started. Go to our Online Servicing section to find out more.
Q. What is the Banking Code?
A. The Banking Code sets minimum standards for the way banks and building societies treat their customers. You can download a copy of the Banking Code from the British Bankers Association website.
Q: Are my savings covered by the FSCS?
A: The FSCS can provide compensation to consumers if a financial services firm,
such as Standard life Bank, is unable or likely to be unable to meet claims
against it. You may therefore be entitled to compensation if Standard Life Bank
defaults depending on the type of business and the circumstances of the claim.
Q: What are the financial limits of the FSCS for depositors?
A: For depositors, the current maximum level of compensation is £50,000
per person, per banking group. More information on the limits can be
found on the FSCS
website. Please note that Standard Life Bank is not part of a larger banking group.
Q: I have multiple savings accounts with Standard life Bank, is my
money covered by the FSCS?
A: Compensation from the FSCS is payable per banking group, not per account. This
means the maximum compensation limit of £50,000 applies to each depositor
for the total of their deposits with a banking group regardless of how many
individual accounts they hold. Please note that Standard Life Bank is not part of a larger banking group.
Q: What happens in the case of a joint account?
A: In the case of a joint account, the FSCS will assume the funds are split
equally between the account holders, unless evidence shows otherwise. This means
that each account holder in a joint account would be eligible for compensation
up to the maximum limit. Please note that the limit may be affected if either account holder has a savings account in their own name with the same institution.
Q: Is my savings bond covered by the FSCS?
A: Yes all Standard Life Bank personal savings accounts and personal savings
bonds are covered by the Scheme.
Q: Does Standard Life Bank share a banking licence with any other bank?
A: No, Standard Life Bank does not share its "licence" (its authorisation from the Financial Services Authority) with any other bank. This
means that if you have deposits with other banks it will not reduce the limit
that can be claimed from Standard Life Bank under the FSCS should we default.
Q: What about my business savings accounts with Standard Life Bank?
A: The FSCS was established primarily to assist private individuals, although
some smaller businesses are also covered. Larger companies are generally excluded.
For more information visit the FSCS
website.
Q: If I have a child saver account, is the child covered separately?
A: No. In the case of a child saver account, it is the adult who holds the account
on behalf of the minor that is covered. This account along with any other accounts
the adult has with Standard Life Bank will be coved up to the maximum limit.
Q: Can I check my DDM date?
A: You can check your DDM date by viewing the 'Future Transactions' option within our secure online service.
Q: Can I have a new DDM?
A: Please call our Savings department on 08457 555 657. You will need to have your ten digit account number, security password and PIN to hand when calling.
Q: Can you check my DDM status?
A: It will take 5 working days for us to process your new DDM and set up the link between ourselves and your external bank account.
Q: Has my cheque cleared?
A: Once we receive your cheque it will take 2 working days before we are able to cash it and receive the funds. It will then take a further 4 working days for the funds to clear. You will earn interest from the day we receive the funds (i.e. 2 working days).
Q: Can you confirm your clearance times?
A: In all instances, it takes 4 working days for your funds to clear. You will earn interest throughout this period, but you will be unable to arrange transactions until after the funds have cleared.
Q: If I withdraw today when will I get my funds?
A: From the date you request a withdrawal, it takes a further 3 working days for the funds to arrive at your external bank. They will arrive as cleared funds, and should be available for immediate use.
Q: What is the effective date?
A: The effective date is the date in which the transaction is due to take place.
Q: Why did I receive less interest this month?
A: Interest is calculated on a daily basis, so there will be months when you receive less interest than previously.
Q: Can I have a statement?
A: You can view your last 100 account transactions using our secure online service.
Q: Can you change my statement frequency?
A: Your statements will be issued on an annual basis or a half yearly basis for ISA accounts, however you can request an interim statement at any time. Call our Savings department on 08457 555 657 to arrange.
Q: Can you confirm my interest rate?
A: Details of our current interest rates can be found on the Rates page of our website.
Q: Can I change my tax status?
A: Please call us on 08457 555 657 if you need to amend your tax status.
Q: What is Standard Life Bank's sort code?
A: Our accounts do not have a sort code. Deposits can be made using our secure online service. We will collect the funds from your nominated external bank account providing the Direct Debit Mandate is live.
Q: Can I make a CHAPS transfer?
A: To request a CHAPS transfer, please call us on 0845 7 55 56 57. A fee will be charged for this service.
Q: Can I cancel a transaction?
A: You can cancel a transaction through the 'Future Transactions' option within our secure online service. We need at least 3 working day's notice before the transaction was due to take place.
Q: How do I withdraw from my account?
A: Withdrawals can be made through our secure online service or by calling 0845 7 55 56 57. Funds will be transferred to your nominated external bank account.
Q: How do I deposit into my account?
A: Deposits can be made through our secure online service or by calling 0845 7 55 56 57. We will collect the funds from your nominated external bank account providing the Direct Debit Mandate is live.
Q: Can I add a new authorised person to a business plan?
A: These changes need to be made by one of our customer service representatives. Please call 0845 7 55 56 59 to provide them with the details.
Q: I've recently married - how do I update my name?
A: Please send us an original copy of the marriage certificate along with a covering letter containing your signature in both married and maiden names to: Standard Life Bank plc, Dundas House, 20 Brandon Street, Edinburgh, EH3 5PP. We will then update your details and return the certificate as soon as possible.
Q: How do I make you aware of a death?
A: Please call our Savings department on 08457 555 657. If possible, please have the account number to hand when calling.
Q: How do I change my contact details?
A: Please complete the 'Feedback' form from within our secure online service to provide us with your new contact details. Alternatively, call us on 08457 555 657.
Q: Can I change my bank details?
A: Please call us on 08457 555 657. We will confirm your new bank details and issue you with a new Direct Debit Mandate. You will need to have your ten digit account number, security password and PIN to hand when calling.
Q: Can I have your address?
Standard Life Bank plc
Dundas House
20 Brandon Street
Edinburgh
EH3 5PP
T: 08457 555 657
Q: My account is about to go dormant - what do I do?
A: Please call us on 08457 555 657 and one of our customer service representatives will assist you.
Q: Can I have a new PIN in & Password for telephone security?
A: Please call us on 08457 555 657 to request a new security document.
Q: Can I have a new internet password?
A: Please call us on 08456 090 256 to request a new internet password.
Q: Can I confirm my User ID?
A: If you have your internet password but are unable to remember your user id, please visit our Customer Log In page and select the 'Forgotten User ID' option. Alternatively, you can call us on 08456 090 256.
Q: Can you revoke my internet access?
A: Please call us on 08456 090 256 if you would like us revoke online access to your accounts.
Q: How do I register to manage my savings accounts online?
A: Follow this link for full details on how to register for online servicing.
Q: How do I cancel a transaction?
A: Transactions can be cancelled through the 'Future Transactions' option. You will need to give us at least 3 working day's notice before the transaction was due to take place.
> Go to Customer Log In
Q: How do I complete an ISA transaction?
A: Please call us on 08457 555 657 to make an ISA transaction.
Q: How do I arrange a withdrawal?
A: Withdrawals can be made by selecting the 'Withdrawal' option from the menu on the left hand side of the page.
> Go to Customer Log In
Q: How do I arrange a deposit?
A: One-off deposits can be made by selecting the 'Single Deposit' option from the menu on the left hand side of the page.
> Go to Customer Log In
