Opening an account
How do I apply for an account?
It's easy to apply by post. Download or request an application form for the product you want and send it, along with any requested documents, to: Close Brothers Limited, 10 Crown Place, London EC2A 4FT.
How and when do I pay funds into my account?
Please make sure your funds are available when we process your application as we require both the completed application form and cleared funds to open your account. Our clearing bank partner is Royal Bank of Scotland (RBS), so this may show as the payee name.
All funds must be transferred from your nominated UK bank account. This is the UK current account in your name(s) linked to your account with Close Brothers Savings. You may ask us to change this at any time.
It is mandatory that cheques are made payable to:
Cheques should be sent with your application form to the address below:
Will my money be covered by the Financial Services Compensation Scheme (FSCS)?
Yes. Close Brothers Limited is a member of the Financial Services Compensation Scheme (FSCS), which protects up to £85,000 of an eligible depositor's funds.
The £85,000 limit applies per person, per firm. This limit relates to the combined amount in all the eligible depositor's accounts with the firm, including their share of any joint account, and not to each separate account.
Most depositors - including individuals and small businesses - are covered by the scheme. To find out more download and read the FSCS leaflet and the FSCS Information Sheet and Exclusions List below.
Can I open a joint account?
Yes, you can open a joint account online or by post, provided you have the consent of the second applicant and all of their necessary details. Download the application form for the product you want and send it, along with any requested documents, to: Close Brothers Limited, 4th floor, 10 Crown Place, London EC2A 4FT. Both applicants will need to read and agree to the relevant terms and conditions.
Can I open an account for someone else / in someone else's name?
No, you can only open an account in your own name, unless you hold Power of Attorney and have been legally appointed to act on behalf of someone else. You can find more information in our Power of Attorney section.
What if the interest rate changes before my application is approved?
Either way, you'll get the best rate. If it goes down you'll still get the rate stated at the time you made your application. If it goes up we'll always make sure you get the higher rate.
Will I need to provide identity and residency documents?
When verifying your identity as part of our application process, we may access information recorded by fraud prevention agencies within and outside the UK.
You may be asked to provide additional documentation. More information on what you need to provide and why is included in our Anti-money laundering guide, which you can download below.
Anti-money laundering guidance
Can I cancel my application?
Cancellation is subject to the product terms and conditions. Please refer to the application form guidance notes.