Keeping you informed with the latest Member updates

What’s changing: 

Members now have the right to ask for reimbursement if they've been the victim of APP fraud.

We'll be adding information for those who believe they've fallen victim to fraud by initiating an electronic payment from their savings account and details on how to claim a refund.

Find out more about APP fraud reimbursement. 

Reason for change: 

A requirement from our regulator that came into effect on 7 October 2024.

What’s changing:

We're now using a Confirmation of Payee (CoP) service, which helps ensure that a payment reaches the correct person and the account name and number you've entered are a match.

Reason for change: 

To reflect our current practice.

What’s changing: 

From 9 April 2025 signatories will no longer be permitted to operate accounts for signatory account holders aged 18 or over.

We'll begin contacting signatory account holders from that date and will require the signatory to take action to change the way the account is managed.

Reason for change: 

To reflect a practice that will come into effect from 9 April 2025.

What’s changing: 

We’ve increased the maximum withdrawal limit for electronic payments from online-only accounts. You can now withdraw up to £20,000 per transaction, with a daily limit of £100,000.

Reason for change: 

To reflect our current practice.

What’s changing: 

We've updated our cheque payment instructions to highlight that cheques should be made payable to yourself and if you're posting a cheque, you should ensure your account number is written on the back.

Reason for change:

To reflect our current practice.