How can I add Third Party Authority to my account?

If you are a new customer and wish to add a third party to your account, you will have the option to do so during the online application.

If you are an existing customer and wish to add a third party to your account, please head to our Customer Forms page to find the third party application form, or click here to be directed straight to the form. Please note that this application form will need to be signed by both you and your third party, and can be returned to us via email to [email protected] or by post to One Ropemaker Street, London, EC2Y 9AW.

What can a third party do?

Below is an overview of what a third party can do on an account holder’s behalf:

What is Third Party Authority?

Third Party Authority is an agreement between the account holder and someone they trust. This ‘third party’ could be a family member or close friend of the account holder that they authorise to obtain information, or provide limited instructions on the account holder’s behalf.

Third Party Authority is not the same as a Power of Attorney and, as such, there are restrictions on what an authorised third party can do on an account held with us.

Third parties are only available on personal accounts, and they can only obtain information on an account or set reinvestment maturity instructions, either in full or with the interest returned to the nominated bank account.

They are unable to have independent access to online banking, as this access sits with the account holder only.

An authorised third party must be aged over 18 and permanently reside in the UK. Identity checks using credit reference agencies will be carried out on third parties.

In the event of an account holder’s death, any third party agreements cease immediately.

What is United Trust Bank’s credit rating?

United Trust Bank (UTB) does not currently have an external rating. Banks are not required to obtain external ratings and usually only those banks that issue certain types of unsecured debt instruments, such as commercial paper, and are active in interbank markets tend to use external rating agencies.

As a regulated UK bank, eligible depositor balances are covered by the Financial Services Compensation Scheme (FSCS) up to £85,000, and £170,000 for joint accounts. To find out more, please click here.

UTB is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. You can verify UTB’s regulated status at using our firm reference number – 204463.

Why have I been asked to provide additional documents?

If we are not able to electronically verify an individual’s identity, or complete our checks on businesses or charities, we will need to request further information from you. This does not mean your application has not been successful, but it may delay us opening the account. It is therefore important that you supply us with accurate and up-to-date information when you apply for an account.

Can I change my mind once my account is open?

If you have opened and funded a Fixed Term Bond, you are not permitted to cancel or close this until it reaches maturity.

For all other accounts, including Cash ISAs, if you change your mind within 14 days of opening your account, you can cancel it. Contact us here and we will close your account and return your savings plus any interest earned.

More information can be found in the Summary Box and Product Guide for each account.

Can I open more than one account?

Yes, you can open multiple accounts, subject to the Terms and Conditions of the account in question. You can choose to open multiple accounts of the same type or choose a mix to suit your needs.

What is a Nominated Bank Account?

A nominated bank account is a transactional UK bank account, where electronic payments can be sent or received. You must provide one as part of your application, and any funds you send to us must be sent from the bank you have nominated.

Each customer is only allowed one nominated bank with United Trust Bank.

What happens if the rate changes after I open an account?

If you have opened a Fixed Term Bond with us, you are guaranteed to receive the rate that you applied for as long as you fund the account within 14 days.

If you have opened a Notice Account with us, the rate is variable and can change. If it does, we will let you know.

How is my money protected?

All savings are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000, or £170,000 for joint customers. To find out more, please click here.

Is my money safe with United Trust Bank?

Yes. United Trust Bank is a long established, regulated UK bank with a high level of liquidity and we adhere to strict rules and regulations designed to protect customers.

In addition, our savings customers benefit from our membership of the government backed Financial Services Compensation Scheme (FSCS).