Bonus Websaver - Savings Support

Current interest rates

Rates for accounts opened from 04/09/2016 to 25/09/2017

Rates effective from 30/04/2016

Balance tiers Annual AER/
gross p.a.
Net p.a.
$1 - $4,999 0.60% 0.48%
$5,000 - $100,000 2.00% 1.60%
$100,001+ 0.60% 0.48%

Special offer conditions: After 12 months, from account opening, your account will revert to the standard Bonus Websaver interest rate, currently 0.60% AER variable. You will also receive our standard Bonus Websaver interest rate for any day your account falls below $5,000 or goes above $100,000, during the 12 month period. Please note that as all Bonus Websaver interest rates are variable, they may change at any time. We will give you notice of any changes to these rates as set out in the Terms and Conditions.


AER stands for annual equivalent rate and illustrates what the interest would be if interest was paid and compounded each year. The gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (currently 20%). Net is the rate of interest paid after the deduction of basic rate tax at 20%. Interest is calculated daily and credited to your account annually.

Previous interest rates

Rates for accounts opened from 04/09/2016 to 25/09/2017

Rates effective from 04/09/2016 to 29/04/2017

Balance tiers Annual AER/
gross p.a.
Net p.a.
$1 - $4,999 1.50% 1.20%
$5,000 - $100,000 2.90% 2.32%
$100,001+ 1.50% 1.20%


AER stands for annual equivalent rate and illustrates what the interest would be if interest was paid and compounded each year. The gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (currently 20%). Net is the rate of interest paid after the deduction of basic rate tax at 20%. Interest is calculated daily and credited to your account annually.

First steps

Once you've successfully applied for a Bonus Websaver account, there are just three simple steps you need to complete to fully open your account:

  • Verify your identity
  • Make a payment to your account
  • Activate your ACB Financial's Online Banking service

Verifying your identity

To comply with Money Laundering regulations, we need to verify your identity. This means we will, in the first instance, attempt to electronically confirm your name and address. If we can't do this, we'll ask you to send us specific documents.

Due to legislation, we are unable to accept National ID Cards to verify your identity. We are sorry for any inconvenience this may cause.

Making a payment to your account

To keep your account open you'll need to make a payment to it within 30 days. There are four easy ways to do this.

  • By bank transfer
  • By standing order
  • By cheque
  • By SaveBack

You’ll find more information about this in how to pay in.

How to pay in

There are four easy ways to save:

• Bank transfer
You can transfer money from your existing ACB Financial Services Limited savings account or your main bank account to your Bonus Websaver account.  You'll need your account sort code and account number, which can be found on your welcome letter or on your account summary page, if you are registered for online banking.

• Set up a standing order
Top up your savings regularly on a date that suits you each month  by setting up a standing order. 

• SaveBack
With SaveBack you can add to your savings using your ACB Financial's debit card while shopping – it’s as easy as getting cashback.

Post a cheque
Please write your sort code and account number on the back of the cheque and send your cheque, making it payable to yourself with a pay in slip to:
 
ACB Financial Services Limited

If you plan to do this regularly, please order a supply of pay in slips using the online banking service.

Managing your account online

Register for ACB Financial Online Banking to securely access your account anytime, anywhere. You can:

  • View your statements online
  • See your transactions for the past 12 months
  • Transfer money to a nominated account*
  • Make payments to your ACB Financial Credit Card
  • Transfer funds between your ACB Financial savings accounts
  • Change your address online
  • Check or change your account details
  • Order pay-in slips

Need help?

You can find out more about registering for our Online Banking Service to access, view and manage your account online in our online support section.

Charges

The following charges will apply: $25 per CHAPS payment.


*Transfers to your nominated account will be received by midnight on the same day the payment is instructed, provided instruction is made by 5pm. Transactions instructed after this time will be treated as next business day.
**Telephone calls may be recorded for security purposes and monitored under our quality control procedures. Calls are free from a landline only.
†max $50 charge.

SaveBack

A unique way of saving

SaveBack from ACB Financial Services Limited is the first ever UK service to let customers save money when they pay for their shopping using a ACB Financial debit card.

How can I SaveBack?

When you open an account with the SaveBack facility, you’ll receive your SaveBack card. Then you can SaveBack when you pay for your weekly shopping, just:

  • Hand your debit and SaveBack cards to the cashier at the same time
  • Tell the cashier how much you would like to save - you can save up to $2,500 at the checkout and up to $9,000 with a supervisor
  • You'll get a receipt confirming your deposit
  • Your savings account will be credited no later than the next bank working day

There's no limit to the number of SaveBack deposits you can make. However, bear in mind if you make multiple large deposits your bank may want authorisation from you. Deposits made using SaveBack should arrive in your account no later than the next bank working day.

Why use SaveBack?

  • Save while you do your weekly shop
  • Easy to save regularly
  • Quick, convenient and secure
  • Your savings account will be credited no later than the next bank working day

I've got a Bonus Websaver account, but I don't have a SaveBack card

If you already have a Bonus Websaver account, but you don’t have a SaveBack card, simply call us to get one.

*Telephone calls may be recorded for security purposes and monitored under our quality control procedures. Calls are free from a landline only.

Power of Attorney

To manage an account on someone else's behalf, you will need to apply for Power of Attorney authorisation.

What you need to use the online facility

You will need a Power of Attorney document which gives you, the attorney, full authority to manage the financial affairs of another person - your Donor - now and in the future. If the Power of Attorney document only allows you to deal with specific accounts on behalf of your Donor, or for a particular period of time, you won't be able to use the Power of Attorney online facility.

How to register for the online facility

If your Donor does not have any existing accounts and you want to open a new savings account on their behalf and manage it using the online Power of Attorney facility, you will need to complete the Power of Attorney and ACB Financial Online Banking Application. Then send it along with your original Power of Attorney document or a certified copy, plus any anti-money laundering documentation as specified on the application form to:

ACB Financial Savings

Already hold a Power of Attorney for an existing savings account?

You don't need to send your Power of Attorney document again as we'll already have the details. Simply complete the Power of Attorney and ACB Financial Online Banking Application. Then send it to the above address.


If you and your Donor both have an existing ACB Financial Services Limited savings account we will not require any anti-money laundering documentation from either of you.

Already registered online?

You will still need to register with a separate username and password to be able to manage your Donor's accounts online.

Need to cancel the online facility?

To cancel your Power of Attorney online facility or to let us know that your Power of Attorney has been revoked, please contact us.

If you're calling about your partner's account

To comply with our Data Protection Act, we can only discuss accounts or online registration with the account holder unless they have given you authority by registering a valid Power of Attorney Document with ACB Financial Services Limited.

Power of Attorney and ACB Financial Online Banking Application

Contact us to request your Power of Attorney and ACB Financial Online Banking Application 

Frequently Asked Questions

What is the minimum age limit to open a Bonus Websaver account?

18 years old.

Is there a maximum limit?

The maximum amount that any one customer can hold in accounts (whether in their sole name or jointly) is $2,000,000.

How is interest paid?

Interest is calculated daily and paid annually on the anniversary of when the account was opened. Interest is credited to the account.

What happens at the end of my 12 month bonus period?

At the end of the 12 month bonus period the rate will revert to the standard Bonus Websaver interest rate at that time. (Currently 1.50% AER/gross pa). We will write to you at least 14 days before the end of the bonus period to remind you of this change.

How do I make a payment into my account?

It's really easy to save regular amounts monthly by setting up a standing order. Alternatively, you can make a payment from another bank account, either online, or by electronic bank transfer by quoting your ACB Financial sort code and account number. You can also deposit money by sending us a cheque which is payable to yourself. Please send your cheque to the following address: ACB Financial Services Limited, . If you will be sending cheques on a regular basis you can order a book of personalised pay-in slips. You can do this via our online service. You can also make payments using SaveBack at main ACB Financial stores.

What happens if I exceed the maximum balance on my savings account?

For any day your balance exceeds $100,000, due to you depositing additional funds or monthly interest being credited to your account, then your interest rate will revert to 1.50% AER/gross pa, from the date of you depositing more funds or monthly interest being credited to your account, and will apply to your whole balance.

How do I withdraw money?

You can use the ACB Financial Online banking once registered. You can set up payment mandates so that you can transfer money to your nominated account.

Is there a limit on the number of withdrawals?

No. You can make as many withdrawls as you like and there is no notice period.

How long will it take to transfer funds?

  • Payments processed through the Faster Payments scheme and deposits made using SaveBack should arrive in your account no later than the next bank working day.
  • Payments made to external beneficiary accounts will arrive in the account by midnight the same business day, provided instruction is made by 5pm Monday to Friday. If we receive your instruction after this time, the money will reach the account by midnight of the next business day.
  • Transfers between ACB Financial Services Limited accounts are normally treated as arriving in your account straightaway, except when they are made after 8pm or on a non bank working day.

What happens if I switch my account with another provider?

Where we are notified by a UK banking industry payment scheme such as the Current Account Switch Service that an account you have asked us to pay has switched to another bank, we will write asking you to call us to confirm that these instructions are correct. Once we have received your confirmation we will update your instruction with the new sort code and account number to make sure that any future payments you make reach the correct account within the agreed timescale.

Can I set up direct debits?

No, this account is specifically for savings, although you can transfer money into a nominated account in your name, by using ACB Financial online banking.

How will you advise me about rate changes?

Whenever our rates change we will let you know by:

  • Updating our website
  • Publishing our new rates in the following national newspapers, The Times, Daily Mail and the Daily Telegraph
  • Or by writing to you.

Can I use this account to pay bills?

No. Payments for bills such as gas, electricity, council tax etc. are not permitted and it is not possible to set up direct debits on this account.

Are there any standard charges on the account?

There are no standard charges. If you require an additional banking service there may be a charge, which we will tell you about at the time.

The following charges will apply: $5 per duplicate statement (max $50 charge); $25 per CHAPS payment.

Can a Bonus Websaver account be used for a business, club or association or a charity?

No, the account is only available for personal use.

Can I open a joint Bonus Websaver account?

Yes. Both parties to a joint account  will receive individual, passwords and security related details. 

Can I discuss my partner’s account?

To comply with the Data Protection Act, we can only discuss accounts or online registration with the account holder unless a valid Power of Attorney Document has been registered with ACB Financial Services Limited.

What option should I choose for marital status in the application if I'm a civil partner?

You can select a marital status of either single or married depending on your preference.

How can I advise ACB Financial Services Limited of a change to my address?

You can change your address online if you are registered for our Online Banking Service. Alternatively, you can call us.

*Telephone calls may be recorded for security purposes and monitored under our quality control procedures. Calls are free from a landline only.

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