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Funding an account

    How and when do I pay funds into my account?

    You can fund or top-up* your account by electronic transfer or cheque.

    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.

    Our clearing bank partner is Royal Bank of Scotland (RBS), so this may show as the payee name.

    If you are funding a Fixed Rate Bond, please do not exceed the total deposit amount you’ve stated as part of your application. If you exceed the total deposit amount we'll send back any excess funds to the sending bank without interest, which can take up to two business days.
     
    By electronic transfer: 
    Account name: Close Brothers Ltd
    Sort Code: 16-51-87
    Account no.: Your Close Brothers Savings account number (if known) or 00000000
    Reference: your surname and postcode

    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. 


    By cheque:
    For applications in your sole name, your cheque must be drawn on either a personal UK bank account in your sole name or a joint account (of which you are a party). For applications in joint names, your cheque must be drawn on a UK bank account in your joint names or in either of your sole names.

    You will need to supply proof of the source of funds for building society counter cheques. We accept a copy of a building society passbook or statement showing your account number and sort code. It is mandatory that cheques are made payable to:

    CLOSE BROTHERS LTD A/C ‘RE: ACCOUNT HOLDER’S NAME’

    e.g. for an account in the name of Mr John Smith, the cheque should be made payable to
    Close Brothers Ltd a/c ‘re: Mr John Smith’


    Cheques should be sent to the address below:

    Close Brothers Savings
    10 Crown Place
    London, EC2A 4FT

    *Please refer to your product terms and conditions to find out if your account is eligible for top-ups.

    How long do I have to fund my Fixed Rate Bond?

    To accept your application, we must receive your total deposit amount within 10 calendar days of receiving your fully completed and signed application form.

    How long do I have to fund my Notice Account?

    To accept your application, we must receive your minimum opening deposit of £10,000 within 10 calendar days of receiving your fully completed and signed application form.

    Subsequent funds can be added. The maximum balance allowed at any time is £2 million per account.

    When will I start to earn interest?

    By electronic transfer: Interest will start to accrue on the date our account is credited.

    By cheque: Interest will start to accrue when your cleared funds are received. Cheques are presented for payment upon receipt.

    Can I fund my Fixed Rate Bond in multiple instalments?

    Single or multiple electronic bank transfers can be used to send your total deposit amount to us. Once the total deposit amount has been met, no further funds can be added to your Fixed Rate Bond.

    Please send your funds by one method only, either by electronic bank transfer(s) or by cheque.

    When will my funds show in my account?

    We make every effort to apply your funds to your account on the day they are received, but it can take up to 2 working days.

    If your funds are received on a non-working day or after 5pm on a working day, we will start the process on the following working day.

    Why does my bank not recognise your account details?

    Confirmation of Payee (CoP) has been introduced by a number of banks for payments made via Faster Payments or CHAPS.

    This enhanced security measure enables individuals to confirm whether the details they have entered match the account of the person or organisation they are paying.

    We receive your funds via a clearing bank. Our clearing bank partner is Royal Bank of Scotland (RBS). Because of this, your bank may alert you that the account name does not match the account details.

    Before proceeding with the transfer please check that the details you have entered match the details shown on our website.