Opening a FirstSave account
FirstSave accounts are only available to private individuals who are resident in the United Kingdom, each aged 18 years or over, hold a personal U.K. current account and have a valid personal email address (we suggest you don't use an email address provided by your employer).
All applications are made online simply click on 'Apply Now' and you are ready to start, you will need to have either your passport or driving licence to hand this will enable us to check your identity . If you don’t have these don’t worry we will tell you what other documentation is acceptable. You will also need the sort code and account number of your personal UK bank or building society account as this will be your linked nominated account. NB If you are an existing customer, simply log on to your account and click on 'Apply here for another first class savings account' at the bottom left of the Account Summary page ‐ this will lead you to a shorter application.
We attempt to verify your details during the online application with the information provided however sometimes we may request for you to send in documentation to prove your identity, residency or both. To view the documents which you are able to provide, please click on the PDF link.
Two people can have an account together, you must input the first account holder's details into the online application, we will then ask if you would like to add a second account holder and the subsequent applicant's details can be added. We assume that each account holder owns an equal share of the money in the account and you're both jointly liable for the account. We will act on sole/joint instructions i.e. instructions from either of you or jointly signed instructions. You will each receive an individual User ID and password to access your joint account online.
This is an account that we link to your FirstSave account, it must be in your name or joint names if the account you hold with us is joint. Please note this account is only used for withdrawals as per the terms and conditions of your account.
As we only offer online savings products all applications must be submitted online, no paper application forms are available or accepted.
We do have a sister company which occasionally offer FirstSave Postal Bonds, please visit www.firstsavepostal.co.uk or you can call them direct on 0345 683 9001 for more information. Lines are open 9am – 5pm, Monday to Friday (excluding Bank Holidays).
Making investments and withdrawals
You will have the opportunity to fund your account by using your Banks Internet Banking facility if available to you or by contacting your Bank or Building Society, the details required to make your transfer are as follows:
By Internet Banking, BACS or CHAPS
Please use your Banks Internet Banking facility if available to you or contact your Bank or Building Society and use the following details to make the transfer;
Our Sort code: 20-32-53
Our Account Number: 60408220
Beneficiary / payee name: FBN Bank (UK) Ltd /FirstSave*
Reference: Your FirstSave reference number/full account number including the first 3 letters of surname
Receiving bank name [if required]: Barclays Bank PLC
You may be charged a fee by your Bank for this service or monetary limits may apply - please check with your Bank.
*Optional information. Not all Bank or Building Societies will require this.
Please Note: You will also need to correctly quote your reference or account number and surname when making the transfer as any error could result in a delay in allocating the money to your account or returning the funds to your Bank. Please note that the funds will show on your online statement as crediting your account within 24 hours on a working day. You will start to earn interest from the day they reach the FirstSave holding account.
We can accept multiple payments over 10 calendar days to fully fund your account. Your initial deposit must be made within 10 working days of the date your account is opened; this is the date your User ID and welcome pack is provided to you. If your initial deposit is not received within this time your account may be closed. Should your account be a loyalty bond we must receive any additional funding within 7 calendar days of the account opening.
By Personal Cheque Personal Cheques must be issued by the account applicant (or joint applicants if applicable), made payable to FBN Bank (UK) Ltd and include your application/account reference number e.g. Mrs A Smith ref: 100000123. Interest will be earned from the next working day after your cheque is banked, i.e. if your cheque is banked on a Monday, the funds will begin earning interest on the Tuesday.
We reserve the right to limit the amount you hold with us for any particular account or in aggregate to £2 million. Please contact us should you wish to invest more than this amount.
To withdraw money from your account, simply visit our website (Please make sure you have your user ID, Password and Memorable Data to hand). There is no limit to the number of withdrawals you can make.
To withdraw money from your account, simply visit our website, have your user ID, Password and Memorable Data to hand. There is no limit to the number of withdrawals you can make but you will need to give the required number of days’ notice prior to the date you require the withdrawal from your account, for example if you have a 30 Day Notice Account please apply for a withdrawal 30 days prior to your required day of withdrawal.
Yes, log into your account, from the Account Summary page click on the box under heading 'New Accounts', then follow the simple online instructions. If you choose this method of switching products it will effect an immediate transfer to a Fixed Rate Bond. Alternatively, once your new bond has been opened you can send us a secure message of your transfer request; this will be actioned within 2 working days.
When transferring money from your FirstSave account to your nominated account, funds should be received by the end of the business day following the date of withdrawal as long as requests were made prior to 2.00pm and were processed on a business day. Please note any requests received after 2.00pm will be processed the next business day. The funds should reach your account by the end of the next subsequent business day.
We can send it to your account by CHAPS electronic transfer, if you tell us by midday the transfer will happen on that day but a fee will be charged for this service (see our tariff of charges). All withdrawals are subject to the terms and conditions of each individual account and penalties may apply.
This will be due to you receiving monthly interest to your third party account, the interest payment is calculated for the full month and is sent 3-4 days prior to the due date. If your account is closed before the end of the month the system then automatically adjusts back the appropriate day’s worth of interest from the capital balance, so that the correct amount has been paid in total.
No, FirstSave accounts are internet based only. Our easy access accounts gives you access to your money by transfer from your FirstSave account to your nominated account.
Operating your FirstSave account
Due to security reasons we cannot respond to an email request. Please follow the online instruction on the 'Log in' page by clicking 'Forgotten Password' or call us on 0345 601 2211
You can review your recent transactions online at any time and print a customer statement if you need to. Please note upon account closure you can no longer gain access to your account online, therefore any statement needed should be printed prior to account closure. Section 975 tax certificates are available for applicable years for any accounts that are currently open. Due to legislation changes the replacement interest statements will be available for customers to print online from the 6th of April 2017. Please note any accounts closed from the 6th of April 2016 will be automatically issued an Interest Statement.
Compatibility issues - Please note that our website is not always compatible with Apple / Apple Mac computers or browsers such as Safari or Firefox.
It is recommended that you apply and access the FirstSave website via Internet Explorer and / or on a Windows based PC when possible.
Your account details and interest payments
If you change your address, please inform us as soon as possible in writing. To do so, visit www.firstsave.co.uk log in to your account and visit the change of details page. On this page you will find various forms in order for you to inform us of any changes. Simply complete the form and return to us, signed and dated. (Please note that changes made to joint accounts must be signed and authorised by all account holders). Alternatively you can send us a Secure Message when logged in to your online account.
To enable us to register your change of name, simply send us the original or a certified copy of your marriage/deed poll certificate. This will need to be accompanied with a covering letter stating your original and now changed name / maiden name and also your married name. Please make sure that both previous and present signatures are included within the letter.
You are able to have your interest paid monthly or annually depending on your account balance. The interest can be credited into your FirstSave account, your nominated bank account or a third party account. Annual interest will be received on the anniversary of your initial deposit each year. Monthly interest will be received on the last day of each month.
If you wish to change the account used for transactions made from your savings with FirstSave, simply log into your account and select 'Change Details' from the 'Your Options' menu, then from 'Change Personal Details' ‐ select 'Change Nominated Account' and follow the online instructions.
If you wish to make any other changes to your personal details, then please contact our friendly Customer Service team on 0345 601 2211 who will be pleased to assist.
In the 2015 budget, the Government announced that from 6th April 2016 a new tax-free personal savings allowance will be introduced. From 6th April 2016 banks and building societies will start paying interest to you 'gross'. This means we will stop taking 20% income tax from the interest earned on FirstSave accounts.
If you owe tax on the interest that you receive after 6th April 2016 you will need to settle this directly with HM Revenue and Customs (HMRC). For further information on the Personal Savings Allowance and whether you need to pay tax on the interest that you receive take a look at the HMRC website and search for 'Personal Savings Allowance'.
When your account matures
We will issue you an email around 3 weeks prior to the due date, this will include instructions on how to select your maturity options for your account online. By following these instructions, you can opt to transfer some or all of your funds to your nominated bank account or to one of our exclusive Loyalty Bonds.
You are able to add additional funds to your new Loyalty Bond for the first 7 days after it has opened.
If the account is set to receive annual third party interest we automatically calculate the total sum of interest that is due for the term and this is then sent via BACS transfer, 3 to 4 business days before the account matures, to make sure it arrives on the maturity date. However, we are unable to send the closing balance until the account has actually matured and this is why you will receive the two payments separately.
Are my savings safe?
FirstSave have been operating since July 2007 and are an online based savings company, providing customers with online accounts that they manage themselves. FirstSave accounts are provided by FBN Bank (UK) Ltd, a UK bank that began trading in 2002 and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (www.bankofengland.co.uk/pra and www.fca.org.uk).
Yes, FirstSave accounts are protected up to a total of £85,000 (£170,000 for Joint Accounts) by the Financial Services Compensation Scheme, the UK's deposit protection scheme. This limit is applied to the total of any deposits you have with the following: FBN Bank (UK) Ltd, FirstSave, FirstSave Postal and FirstSave €uro. Any total deposits you hold above the £85,000 (£170,000 for Joint Accounts) ‐ limit between these brands are not covered.
For further information visit: www.fscs.org.uk.
FBN Bank (UK) Ltd.’s FCA registration number is 216772