A Monthly fee
A monthly fee of £5 is debited on the last working day of the month, or the next working day.
This fee helps us with the initial set-up and cost of running your account on a daily basis. As a bank whose shareholder is a registered charity, the fee also means that we are able to continue to donate up to 75% of any earnings to The Salvation Army’s charitible and evangelical work, thereby giving back more to our community and society.
What is the interest rate?
No credit interest is payable.
Easy to manage online and telephone banking.
Make payments and keep an eye on your balance with internet and telephone banking.
Internet banking via I-bank is available 24 hours a day, every day of the year.
• Review the balance of your current and savings accounts
• Update account balances throughout the day
• Pay bills and transfer money
• Review your statements up to 2 years
• Download your statements to save on paper
• Set up or amend standing orders*
• Order new cheque *
• Notify us of stopped cheques*
• Request an overdraft application form
*These requests will be completed via i-mail, a secure email facility.
Visa debit card
Our debit card is made of degradable PVC making it recyclable, we are doing our bit for the environment!
Refusing a payment due to lack of funds – applies to Direct Debit, standing orders and cheques £10 – we will not charge you if the value of the payment is £10 or less, or if the payment would have taken you overdrawn by £10 or less.
Unpaid Cheques : £10.00 per cheque
Unpaid Direct Debits : £10.00 per item
Unpaid Standing Orders : £10.00 per item
Unauthorised overdraft: £10 per transaction
Copy Statements : £2.50 per statement
Sending within the UK as a CHAPS payment (electronic same day payment) : £15.00 per Item
Stopped cheque : £10 per cheque
Sending money outside the UK - See tariff of charges for payment options.
The maximum penalty charge per calendar month is £60 – even if the total of individual charges exceeds this.
Is it right for me?
• You can apply to open a Current Account if you
• Are 18 or over and a UK resident
• Have no County Court Judgements against you
• Have not filed for bankruptcy, a Debt Relief Order or an Individual Voluntary Arrangement in the last five years
You can apply by completing an application form
If you’re not eligible for a Reliance Bank account due to anything related to your credit file, you might want to contact the Money Advice Service who provide free, impartial money advice. They can also provide details of bank accounts that might be suitable for you.
Our telephone banking service is available 8.30am to 4.15pm Monday to Thursday and 10am to 4.15pm on Friday.
• You have unlimited access to your money.
• You can withdraw funds by Faster payment or writing to our office
• Transfers can be made online via Faster Payments.
• You are covered under the Financial Services Compensation Scheme up to £85,000 per depositor per bank/building society/credit union.