Savings 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.  

 If your account allows more than one account holder, you can add an additional account holder by: 

• Completing a  savings application form and posting it to Principality Building Society, PO Box 89, Queen Street, Cardiff, CF10 1UA. 
• Visiting one of our branches. All account holders should attend when you visit. But if this isn’t possible, please let the branch know. 

If you need any help you can send us a secure message by logging into your online profile, or give us call. Here’s all the information you’ll need to be able to contact us for support.  

If the additional account holder is already a member with us, we won’t need to ask for any ID. But if they are a new customer, we will need to confirm their identity. You can find out what documents we accept as proof of identity on page 9 and 10 of this document about how we use Your Information.  

Does my account allow more than one account holder? 
Some of our accounts can only have one account holder. So you won’t be able to add an additional account holder to: 
•    An ISA.
•    An online only savings account.
•    A children's account. Children’s accounts can only be opened in the name of one child. However more than one guardian or trustee can be added. 

To get a tax certificate for your savings account, either 

• Log into your online profile and send a secure message 
• Call us on 0330 333 4000. 
• Visit one of our branches 

You'll need to tell us which savings account and the year you need the tax certificate for. 

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.

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:

Get access to some exclusive member rates when your account ends. The rates we advertise are limited availability and can be withdrawn or amended at any time. 

We apply the rate available on the date you apply. This means the rates provided in the maturity information we sent you aren’t guaranteed. To take advantage of these exclusive rates, contact us with your decision as soon as possible. 

What are my options when my account matures? 

• Reinvest in a new account. You can fully reinvest in a new bond or ISA online, after we send you your maturity information. And you can make additional deposits for up to five business days after opening the account. Choose a new account online, visit a branch, or give us a call.  
• Take out a little and reinvest the rest. You might want to reinvest in a new bond or ISA with some of your money rather than all of it. Just use the form in your maturity pack or log into your online profile to let us know. 
• Close your account. You can withdraw all the money in your account and transfer it into your nominated bank account, or an existing Principality savings account on the day your savings account matures.  
• Receive your money by cheque. Simply visit a branch with your ID and account details, or send us a secure message via your online profile. 

If you do nothing, we’ll move your money into the account we told you about in your maturity notice.  

How long do I have to apply for a new savings account? 

To take advantage of our exclusive member rates, you must apply for your new account within 14 days of your maturity date. This could be 14 days before or after the date your current savings account matures.  

If we don’t hear from you before your maturity date, your balance will automatically be moved into the account we told you about in your maturity notice. Once this happens, you can make withdrawals or close the new account whenever you want. 

If you have an online only savings account with Principality, we’ll ask you to set up a linked account. 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.  

You can change your linked account by: 

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

Some of our savings accounts have withdrawal limits, or do not allow withdrawals until the account has matured. Check your account terms first.  If you have an online only savings account, you won’t be able to make a withdrawal in branch.  

If your account terms allow immediate access to your funds, here’s how you can make a withdrawal: 

Cash: Visit one of our branches. Our daily cash withdrawal limit is £500 per customer. If you’d like to withdraw more than £500 in cash, please contact the branch 2 business days in advance. For withdrawals of over £2,000, we’ll ask for a form of ID. For a full list of ID documents we can accept, download our leaflet about how we use your information. 

Cheque: You can make a cheque withdrawal from a branch or agency of up to £85,000. If you’d like to withdraw more than £85,000 as a cheque, please contact the branch you plan to attend to let us know at least 5 business days in advance.  You can also request a cheque by calling us on 0330 333 4000, writing to us, or sending us a secure message from your online profile. These requests can take up to 5 business days to complete. 

Faster Payment: We can make faster payments to another account in your name. If you request a faster payment by 3:30pm you’ll receive the funds the same day. If you make your request after 3:30pm, you’ll receive the funds the next business day. 

We will need proof that the receiving account belongs to you. We do this to protect you from fraud, especially if you haven’t transferred funds to this account before. This proof could be a bank card or bank statement showing the account holder’s name, sort code and account number. The maximum you can transfer using faster payment is £120,000. 

If you have an online only account, you can make a withdrawal of £20,000 to your linked account in one transaction, up to a maximum of £100,000 per day. 

Telegraphic Transfer: We can arrange telegraphic transfers to another account in your name. There is a charge for making a telegraphic transfer. Find more information about our fees in our Savings Tariff of Charges leaflet. If you request a telegraphic transfer before 3:30pm, you’ll receive the funds on the same day. If you make your request after 3:30pm, you’ll receive the funds the next business day. 

If you have set up an online profile you can log in to check your interest rate. Or you can view the interest rates on all our savings accounts. If your account is no longer on sale, you’ll need to check our information for accounts no longer on sale to new customers. 
 
Offsale fixed rate accounts information

Offsale variable rate accounts information