Help and Support

You can close your savings account at any time, unless your account terms say otherwise.  

How to close your account:

• Log into your online profile and select ‘close an account’ from the Account Services menu. We’ll guide you from there. 
• Contact us
• Visit a branch

Before you close an account 

Please check your account terms. Certain accounts don't allow closure. Or we might need you to let us know ahead of time that you're planning to close the account. With some accounts, closure might mean you’re subject to a penalty or a loss of interest. Closing an ISA could impact your tax-free savings allowance.  

If you want to:

• Apply for a savings account through the post. (Please note some accounts can only be opened online.) Fill out the Savings Application Form and the Self Certification Declaration.
• Open a children's account on a trust basis: Complete the Trustee Application Form.
• Instruct your bank or building society to send a regular payment to your Principality account: Fill out the Savings Standing Order Form.

We recommend you read our Privacy Policy before sending any personal information.  

The Bank of England (BoE) sets and controls the base interest rate for the UK. This is the rate at which it will lend to financial institutions. You’ll hear it called the ‘base rate’ or ‘bank rate.’ 
 
If the base rate goes up, banks and building societies rates will usually increase too, because the cost of borrowing has become more expensive.  
 
However, how we set our rates also depends on changes in the market and economic climate. So we may increase or decrease our variable rates (including SVR) outside of changes to the base rate. And when the base rate changes, we won’t necessarily change our own rates. 

You can make a mortgage repayment online through a bank transfer. Unless you have more than one mortgage account with us. If you have multiple Principality mortgages please call us to make a payment instead.  

To make an online mortgage payment please use these details: 

Account Number: 90653535 
Sort Code: 20-18-23 
Reference: Your Mortgage Account Number (excluding the dashes) 

Who are you paying? Some banks ask if the account you are sending your money to is personal or business. To make a mortgage repayment, please choose ‘personal’. 
 
Name of payee:  Your name as it appears on your mortgage account.  
 
Recipient bank:  As a building society we use Barclays bank as our bank account provider. So don’t worry if you see Barclays bank appear as the recipient bank when making a mortgage repayment. 

Managing your savings online is easy.  You'll need to create and activate an online profile. 
 
Step 1: Creating your online profile  

We’ll ask you for: Your Principality account number, your mobile phone number, and your email address. For security reasons, your email and mobile phone number must be used only by you. If you’re a new customer opening an account online for the first time, you’ll do this step as part of your application. 

• Get started online by filling in a few personal details and setting your password. 
• We’ll email you a copy of your user ID straight away. 
• We’ll also send you an activation code in the post; it should arrive within 3-5 days. 

Step 2: Activating your online profile  

You’ll receive your activation code in the post. You’ll only need to use it once. Here’s what to do:

• Log in using your user ID and password. 
• You’ll be asked to enter a passcode, which we’ll send to you as a text. 
• After you’ve entered your passcode click ‘Enter Activation Code’ on your dashboard.  
• Enter the activation code from your letter. Your online profile will be activated.  

If you have Principality mortgage you can manage it online by setting up an online profile.  You can also manage your Principality mortgage over the phone on 0330 333 4000, or by popping into your local branch.  

You can pay money into your savings account in a few different ways. Online, in branch, or by sending us a cheque. 

• If you’re paying money into a new account for the first time, you’ll need to fund your account with at least the minimum deposit within five business days of opening.
• If you’re transferring an ISA, please read our information about ISA transfers. 

1. Move money online 
Use these details to transfer money from another account: 
 
Sort code: 20-18-23 
Account Number: 90653535 
Reference: Use your Principality savings account number 
Payee: Your name 
 
What you need to know 

• We use Barclays as our bank provider. Don’t worry if your bank flags that you’re moving money to a Barclays account. 
• The money should show in your Principality account within two hours. 
• If you plan to save regularly you can set up a standing order after your first payment. This must be from a UK bank or building society account in your name.  
• If you're planning to transfer money into your account on the same day you open it, your bank might not recognise your name as one that matches the account straight away. The transfer will still work, but be sure to double check the reference number is correct.

2. Visit a branch

You can visit any of our branches to pay money into your savings account (except if you have an online only savings account). Cash deposits will show in your account instantly. If you pay in a cheque it’ll take up to 3 business days for the money to show in your account.  
 

3. Send us a cheque 

Make your cheque payable to yourself by writing your name as the payee. If you're posting the cheque to us, you should write your Principality account number on the back of the cheque. Then send it to the Savings Team at: Principality Building Society, PO Box 89, Queen Street, Cardiff, CF10 1UA.

We take your online security seriously. Just like all other UK banks and building societies, we carry out extra security checks to help keep you safe when managing your finances online.  We help keep your information safe in a few ways: 

By making sure you have a strong password. Your password should have 10 or more characters, including capital letters, symbols and numbers. 

By asking for a mobile number that’s used only by you. We ask you to link a personal mobile number to your online profile so we can carry out a security check each time you log in. That’s why it’s important the mobile phone number you use to register is yours alone, and not shared with anyone else.

By asking security questions. If you forget your password you’ll need to answer three security questions to reset it. 

By sending you an activation code in the post. This helps us verify that it’s you living in the address you’ve provided to us.  

Your savings account will be classed as dormant after 15 years of inactivity and locked until you can verify your identity. 

Don’t worry your savings are safe. No matter how long your account has been dormant, the money in it will always belong to you. 

How to find a dormant account?

If you think you’ve lost touch with a Principality savings account or may have opened one with a Building Society we’ve merged with either:

• call 0330 333 4000 
• visit your local branch
• write to us at Principality Building Society, PO Box 89, Queen Street, Cardiff, CF10 1UA. 

You’ll need to provide 2 forms of ID to verify your identity and re-open your dormant account. Find out more about the types of ID we accept.

How to find another person's dormant account?

If you are legally entitled to, we can help you trace another person’s dormant account. 

To trace another person's dormant account call 0330 333 4000, visit your local branch or write to us at Principality Building Society, PO Box 89, Queen Street, Cardiff, CF10 1UA.

Building Societies we've merged with:

A linked account is an account with another bank or building society that we’ve verified belongs to you. This helps us protect you from fraud when you transfer money out of your Principality savings account electronically. 

If you have an online only savings account with Principality you can change your linked account by: 

• Logging into your online profile and sending a secure message. 
• Calling us on 0330 333 4000.