Finding the information you need about your savings account
Frequently asked questions
We’ve put together the answers to some of the most commonly asked questions about our savings accounts. If you have a question that we haven’t answered here, please call us on 0845 845 0829. Our lines are open Monday to Friday from 8am to 6pm (Wednesdays from 10am). Alternatively, you can also send an email to our Customer Services Team with your enquiry.
How do I register for Internet Banking?
Visit our Internet Banking information page to find out how to register.
How do I reset my Internet Banking password?
This cannot be done online so please call 0845 845 0829 to request this.
Why can I not collect money from my nominated account?
After we receive your completed Direct Debit Mandate, it can take up to seven working days before it is active.
What is the sort code for Scottish Widows Bank?
We don’t have a sort code for Scottish Widows Bank. This is because we are not a clearing bank, meaning funds must be collected using the Direct Debit facility which is set up for your nominated bank details.
How long does it take to transfer funds to my nominated account?
Withdrawals will reach your nominated account by the end of the following business day (provided you give us the agreed notice, if applicable for your account). You can also request a same day transfer at a cost of £25. Your instruction must be received by 2pm.
What is the daily maximum amount I can transfer to my nominated account using Faster Payment Service with Scottish Widows Bank?
The maximum total amount that can be transferred per day using Faster Payment Services is £499,995. Please also note that the maximum limit is £99,999 per transaction, therefore if your transfer is greater than £99,999 but less than £499,995 your payment will need to be broken up to fit under the £99,999 limit. For example, a £150,000 transfer would show on your nominated as one payment of £99,999 and another payment of £50,001. The daily maximum limit of £25,000 for transfers to your nominated account using Internet Banking remains unchanged.
What if the total amount I want to transfer is more than £499,995?
Your payment will be sent by CHAPS free of charge.
How do I change my personal details?
Please download our details amendment form. Using this form, you can update your:
- - Security details
- - Address details
- - Name
- - Bank details
- - Frequency of interest payments.
Can I make a withdrawal by cheque?
Withdrawals are made by Faster Payment Service, and are free of charge (provided you give us the agreed notice, if applicable for your account) and will reach your nominated account by the end of the following business day. You can also request a same day transfer at a cost of £25. Your instruction must be received by 2pm.
How can I change my account from sole to joint?
The only way to do this is to complete a new application.
How do I apply for the Internet Saver Account?
You apply online for this account.
When will I get a statement for my savings account?
You’ll receive a statement every time interest is applied to your account.
However, please note that if you don't instigate a transaction on your account within three years, (for example withdraw or deposit funds other than your usual interest transactions) we'll class your account as “dormant”. We'll attempt to contact you at the last known address to advise you of this however, once your account status is changed you'll not receive any statements and you'll be unable to make transactions on your account, until you confirm that the account should remain open.
Please note, for fixed term deposit accounts, the three year period before an account is considered dormant will start at the maturity date of the fixed term deposit account.
Are there any penalties for transferring my ISA to a new provider?
There are no penalties for this.
What is your address?
Scottish Widows Bank
PO Box 12757
67 Morrison Street
Edinburgh
EH3 8YJ
What is your telephone number?
Our telephone number is 0845 845 0829. Our lines are open 8am to 6pm Monday to Friday (Wednesdays from 10am).
How do I avoid the notice on my 7 day notice and/or 60 day notice account?
As part of the terms and conditions you must always give the appropriate notice on withdrawals.
Is Scottish Widows Bank covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank including their share of any joint account, and not to each separate account.
For further information about the scheme (including the amounts covered and eligibility to claim) please call us on 0845 845 0829, refer to the FSCS website www.FSCS.org.uk or call 020 7741 4100 or 0800 678 1100.
I have a Scottish Widows ISA which I opened through Lloyds TSB. Who do I contact for information?
Please contact 0845 767 8910, option 1.
How can I track down an old account?
If you held a Scottish Widows Bank account in the past and think you may have forgotten accounts with us, we'll do our best to find and reactivate these for you.
You can visit www.mylostaccount.org.uk to submit an electronic account tracing form online. This is an official site set up by the British Bankers' Association (BBA), the Building Societies Association (BSA), and National Savings and Investments (NS&I).
Alternatively you can call us on 0845 845 0829 and a member of our staff will talk you through what needs to be done. To assist us it would be helpful if you could gather any information such as old statements, any old correspondence from us, or any other details relating to the old account(s).
