Why have I been asked to provide more information?

As part of our customer due diligence, there may be instances when we need to clarify the information you have provided. This doesn’t mean your application has not been accepted, but it may delay the account being opened. It is therefore important that any information you provide is up-to-date and accurate.

What information will I need to provide as part of my application?

When submitting your application, you will need to provide your personal details. We will then run an electronic check on these using credit reference agencies to verify your identity.

Can I hold multiple savings accounts?

There is no limit on how many savings accounts you open with United Trust Bank. You can choose to spread your funds over multiple accounts with a combination of our fixed rate and notice products or keep to just one type of account.

Are personal savings protected by the FSCS?

Yes, all personal savings are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000, and £170,000 for joint accounts. To find out more, please click here.

Are there different types of personal savings accounts?

There are three common types of savings account:

Fixed Term Bonds – These allow you to set aside a one-off sum for a specified length of time and earn an agreed rate of interest during that period. However, with most fixed term bonds, you cannot withdraw your money during the term of the bond, so you should only deposit funds you won’t need to access during that time.

Notice Accounts – These allow you to deposit funds whenever you wish and to earn an agreed variable rate of interest on your balance. However, you can only make withdrawals after giving the required notice. For example, with a 40-Day Notice Account you would have to request a withdrawal 40 days before you needed to have the money. These accounts offer more flexibility than fixed term bonds and usually pay a slightly lower interest rate as a result.

Instant Access Accounts – These offer the greatest flexibility as you can withdraw your money at any time. However, these typically pay the lowest rates of interest of the three main types of savings accounts.

What is the minimum and maximum I can invest?

The minimum initial investment is usually £5,000 per account, and if you would like to deposit more than £1,000,000, please click here to find out how we can help you.

What happens after I apply?

If your application is successful, we will email you to confirm the details of your account. You will then have 14 days in which to deposit your funds.

How do I register for online banking?

To register your details, please click here or go to www.utbank.co.uk/online-banking-verification. After you have successfully registered your details, we will email you your username and a temporary password. Please check your junk or spam folders in case our email is diverted there.

How do I apply for an account?

Once you have decided which account you would like to open, simply click on the ‘Apply’ button in the Summary Box window for that account and complete the application form online. You can also head directly to the beginning of the application form here.