How to pay into your savings account

High street or from the sofa, cash or BACs? The various paying in options at The Cambridge

The Cambridge is committed to making it convenient for you to pay money into your accounts so you can manage your finances with ease, whether you have a branch-based savings account or an online savings account. Each account may have slightly different options for paying in, so please check your terms and conditions for more information.

Electronic Payments

You can make electronic transfers from your bank or building society account via Faster Payments, Standing Orders, CHAPS and BACS. Payments made by electronic transfer will be added to the balance and earn interest straight away.

Here are the details you’ll need to make an electronic payment:

• Name: This should match the name on the account you’re sending money to with us
• Sort Code: 20-17-55
• Account Number: 40338346
• Reference: This is your account number with us, which will either be:
  • a 10-digit number or
  • the letters ‘CB’ followed by eight numbers. If your account number starts with ‘CB’, the digit following the letters is a zero, not the letter O, e.g. CB01234567

You must quote either of the above as a reference to ensure the payments reach your account.

You have 30 days to fund your account from date of opening. Please ensure the funds you transfer into your new savings account meets the minimum balance, which can be found in the terms and conditions of your product. Any transfers below the minimum balance after the 30 days will be automatically returned to your bank account. Please allow up to 2 working days for the funds to be returned.

If you have opened a Regular Saver, and want to save the full monthly amount, please ensure that you set your Standing Order to run for 12 months from the date you first fund it. Any extra payments received will be automatically returned to your bank account within two working days.

Confirmation of Payee

We’ve partnered with Confirmation of Payee, which is a name-checking service to make sure payments aren't sent to the wrong account and to help protect you from fraud. When you submit a payment, you will see one of the following;

• Match: the name on the account matches, so you can continue
• Close match: the name on the account is not an exact match, but you recognise the closely matched name
• No match: the payee’s name details don’t match the name on the account, so please make sure you check the details before proceeding with your payment.

Visit our guide for more information on the Confirmation of Payee service

Debit Card

We accept payments by most major debit cards.

You can make a payment using your debit card at any of our stores and branches or by calling us on 0345 601 3344.

Cheque

Cheques must be written in a certain way, so that they can be paid through the cheque clearing system. This is not available for our online savings account.

Here’s what you need to include when writing a cheque:

• the amount needs to be displayed both written and numerically in the space provided on the cheque including pounds and pence
• make sure the correct date is written and in the correct format e.g 1st January 2022 - and that this is clearly visible
• Make it payable to the account holder’s name, it must be a direct match with the name on the account. For example, if the person’s name is Jonathan Smith, don’t make it payable to John Smith – it will be rejected
• Make sure the cheque has been signed

Please note: The cheque clearing process will take three working days. We will then require a further day for your payment to reach our bank account. We therefore require four working days before cheques can be withdrawn. As the timescale for the cheque clearing process can be longer than this, you can only be certain the money is yours after eight working days have passed.

You can find more information on cheque payments here.

Payments from overseas

You can transfer money by telegraphic transfer (SWIFT) from overseas. To organise this transfer, the organisation sending the payment will need the following details:

• SWIFT Code: BARCGB22
• Bank account name: Cambridge Building Society
• IBAN: GB27BARC20175540338346
• Reference: This is your Cambridge Building Society account number, which will either be:
  • a 10-digit number or
  • the letters ‘CB’ followed by eight numbers. If your account number starts with ‘CB’, the digit following the letters is a zero e.g. CB0 You must quote this as a reference to ensure the payments reach your account.
• The amount to be sent, stating the currency

 

Cash

Pop into any of our stores or branches and we’ll be happy to help. You can find your nearest store or branch and our opening hours here. This is not available for our online savings account.
 

Why not download The Cambridge Money App?

If you’d like the flexibility of having access to your accounts on the move, why not download our Money App?

You’ll need to register for online access first, simply call our Customer Contact Centre on 0345 601 3344 or pop into your nearest branch or store to get your login details. You’ll need a mobile number and email address to get online with us.

Once you’re set up simply search for ‘Cambridge Building Society’, 'The Cambridge Building Society' or 'The Cambridge Money App' in your selected app store and you’ll see The Cambridge logo. Tap on the app and press get or install.

Find out more about The Cambridge Money App here

We'll be here

If you're having any difficulties setting up or making a payment into any account at The Cambridge, please contact us on 0345 601 3344.