What is an annual interest summary?
This is an annual summary of the interest earned on all of your personal savings accounts held with United Trust Bank for the 2025/26 tax year.
Why have I received this?
We issue this information to all our personal customers annually, to assist them with their tax returns.
Does this show my interest as being paid GROSS or NET?
In accordance with UK tax legislation from 6 April 2016, interest is paid gross. If you are a UK taxpayer, you may have to pay tax on interest earned in excess of your Personal Savings Allowance (PSA). The current PSA for the basic rate income tax band is £1,000. The interest you earn on your money in a cash ISA remains tax free for the life of the ISA, providing all ISA conditions are met.
How is the interest calculated on my joint account?
We confirm who the account holders are at the time the account earned interest and provide the total interest that was earned, irrespective if the account is held in sole name or joint names. The interest amount is not split between the number of account holders to the account.
If I want to change how my interest is paid, how do I arrange this?
For notice accounts and fixed term accounts greater than 1 year, you can update your interest instructions by logging on to your online banking and making these changes yourself. If you are not registered for online banking, please refer to the guidance here on how to register.
The interest amount I received is incorrect.
Be aware that having your interest compounded or paid away annually to your nominated bank account can affect the amount of interest you receive. If you still feel your interest amount is incorrect, please contact us, using one of the options detailed below.
I have a missing account on my summary.
The accounts included on your annual interest summary are only those accounts that received interest between 6 April 2025 and 5 April 2026. If you still wish to discuss any discrepancies on your annual interest summary, please contact us, using one of the options detailed below.
Can I change how I receive account information from United Trust Bank?
As part of our continuing ambition to make saving with United Trust Bank even easier, and to help reduce our impact on the environment, we are now sending some account information to you by email. If you would like to change the format or how you receive account information, you can send us a secure message by logging on to your online banking.
Please contact our dedicated team for any questions you may have via:
– Phone: 020 7190 5599 / Freephone 0800 083 2228
– Email: [email protected]
– Online Banking secure message
– Hours: Monday–Friday, 9am – 5pm*
*excluding bank holidays
Alternative Format
If you would like to receive future communications in large print, braille or CD audio, please get in contact us using the details above.