Frequently asked savings questions
Below are some of the questions we are regularly asked by our members. If you have a question about an ISA please click here.
Guides and resources to help you become a super saver.
Whether you want to learn more about ISAs or searching for tips to become a savvier saver, you’ll find lots of information and handy guides to help you below.
To transfer money from your bank to your Darlington Building Society savings account you need to use the following bank details:
Sort Code: 400530
Account Number: 14575881
Reference Number: your 8-digit Darlington Building Society account number (the savings account you wish to transfer the money into)
The daily cash amount you can withdraw in branch is £500. If you give us 48 hours’ notice, you can withdraw up to £2000.
The daily cheque withdrawal limit is £100,000.
If you make an investment by cheque you will not be able to make a withdrawal on this cheque until six working days (excluding weekends and bank holidays) after the deposit. No cheque will be reclaimed from the account after this time unless the account holder was a party to a fraud.
All cheques should be made payable to you or the person whose account they are to be paid into. This is to prevent fraud. We will not accept cheques made payable to ‘Darlington Building Society’.
If there is an increase in the interest rate, we will tell you about it by placing notices on our website and in our branches (except for accounts not run mainly through our branches), within three working days of the change.
Where the change is a decrease in the interest rate and you have more than £100 in your account we will provide 14 days’ personal notice unless the account is linked to a reference rate. A reference rate means any rate which is
linked or set against an externally set interest rate such as the Bank of England base rate.
Tariff of Fees and Charges for Savings accounts
As from 1 February 2020 the following fees apply:
We will charge this fee if you pay in a cheque which is returned to us unpaid.
|CHAPS guaranteed same day payment||£25
This is a fee for sending a payment electronically from your account to a verified UK bank account in your name. The payment must be instructed before 2.30pm.
|Faster payment between £10 and £25,000 to your nominated bank account||FREE
This is a non guaranteed payment sent to your nominated bank account and received by close of business the next working day.
|Immediate Lost Passbook||£10
When you report your passbook lost and request the immediate closure/usage of the account without the normal waiting period being applied.
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a building society is unable to meet its financial obligations.
Most depositors – including most individuals and small businesses – are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000).
The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with the building society, including their share of any joint account, and not to each separate account.
Mortgage advising and arranging is covered up to £85,000 per eligible person.
For further information about the scheme (including the amounts covered and eligibility to claim) please refer to the FSCS website www.FSCS.org.uk or call the FSCS on 0800 678 1100.
Please note only compensation related queries would be directed to the FSCS.
You can search for a lost account with us (or any building society, bank or National Savings and Investments) by:
Why should I trace my account now?
In 2009, the government introduced a new unclaimed assets scheme. Under this scheme, financial institutions will transfer the funds, which are held in accounts where there has been no activity for 15 years, to a central recovery account with the Bank of England. It will then be distributed to our designated charity. However, this does not mean that you will lose your money under this scheme – you can still reclaim it at any time (with any interest you have earned).
We are required to verify your identity when you open a savings account with us.
To find out what identification you will need, click here.
We may write to you if we think you have a ‘dormant’ account. If you receive a letter, please make sure you follow the steps in the letter to confirm your account is still active.
The Personal Savings Allowance lets you earn a certain amount of interest from your savings tax free.
Depending on the Income Tax band your income falls under, the Personal Savings Allowance is a different amount.
For more information, visit the HMRC Website.
We have a page dedicated to the process you need to follow on our Bereavement page
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