Savings FAQs

You can withdraw up to £25,000 from your Ecology savings account into your linked account at any time online or via the Ecology App. For amounts over £25,000 you must call Member Services on 01535 650 770 to authorise the transaction. Postal customers can use the withdrawal form.

Yes, transfers between your Ecology savings accounts are instant, unless the account requires notice. For notice accounts the funds will be transferred automatically once the notice period is complete.

Yes, you can request a withdrawal by post. You can download a withdrawal form from our website or call Member Services and they will send one to you. Your funds will be paid into your linked account.

Statements will be generated annually, and available online and via the app. If you operate your account via post, this will be posted to you. Please see your Product T&Cs for dates.

The last three annual statements for your account will be stored on your online account so you can view them online or in the app. If you need to, you can also download them or call Member services and ask them to send you a copy.

A standing order needs to be set up from your linked account. You will need to choose which date you would like the money sent to your Ecology account and the frequency. You will need to set this up with the bank that you have your linked account with.

Our Member Services team is always here to support you with your enquiries, including any questions you may have about using our Online Services. The new systems are designed to make it easier for you to manage your account, but we understand that you may need help getting used to the system. You can call our Member Services team at our Silsden Head Office, on 01535 650 770.

Yes, you can apply for any of our accounts by post. Simply call Member Services and they will send you all the information you need to apply.

The Personal Savings Allowance is the total amount of interest you can earn each year across all of your savings accounts (except ISAs) without paying tax. It covers interest you earn from all of your accounts (except ISAs) with all banks and building societies – not just us. You may also get up to £1,000 of interest and not have to pay tax on it, depending on which Income Tax band you’re in.

If you suspect that you or somebody you know is being – or has been – subject to financial abuse, please refer to the UK Finance It’s your money guidance leaflet. This covers different types of financial abuse, what you can do to protect yourself and who to contact should you need urgent or longer-term help.

You can open an account for someone else using our Beneficiary account application form (Link). This form must then been emailed or posted to Member Services. Once open the account can be viewed online or in the app.

An ISA (Individual Savings Account) is a savings account that you don’t pay tax on. The amount of money you can save or invest in an ISA in a single tax year is limited – also known as an ISA allowance. For the current tax year this allowance is £20,000.

We accept Cash ISA transfers only into our Ecology Cash ISAs.

We don’t currently accept Stocks & Shares ISA, or Innovative Finance ISA.

If you’d like to transfer your ISA to us, you’ll need to fill in a transfer form. You will then need to email or post this to us.

Please contact your new ISA provider to arrange the transfer. If you have any questions, please contact the Savings Team on 01535 650 770 or [email protected].

An ISA stays tax free until:

• The deceased’s estate is completed
• The account is closed
• The third anniversary of the account holder’s death

If the deceased is your spouse or civil partner you can inherit an additional ISA allowance under the Additional Permitted Subscription (APS) allowance. The APS doesn’t count towards any current year ISA subscriptions that you have.

The APS has to be done within three years of the date of the death or 180 days after the administration of the estate is complete (if this is later). Please note, we currently cannot accept Additional Permitted Subscriptions into an Ecology ISA account.

This depends on the balance of your existing account, as you can only pay in a maximum of £250 for your first deposit. You will need to open a Regular Saver account first, and then you could make your first payment as a transfer from your existing account.

You can pay up to a maximum of £250 per month into your account, with the maximum investment being £3,000 per calendar year.

Contact the Savings Team for the relevant form on 01535 650 770 or [email protected]