On 1 January 2010, Standard Life Bank plc became part of the Barclays Group of companies.
On 1 June 2010, the Standard Life Cash Savings & Mortgages banking business formally transferred from Standard Life Bank plc to Barclays Bank PLC. This was done via a Part VII Transfer Scheme. Barclays is committed to providing exceptional service to all Standard Life Cash Savings & Mortgages customers.
Products and services
General
Product features
Direct debit mandates
Interest and statements
Transfers
Changes
Contact us
Security
Online servicing
Mortgages
Offsetting
Changes to the Financial Services Compensation Scheme (FSCS)
From 4th July 2011 our savings product range will no longer be offered as new accounts. All existing accounts will continue to be serviced as normal. Our mortgage products will continue to be available to existing Standard Life Cash Savings & Mortgage customers only.
Which Standard Life Cash Savings & Mortgages products are part of Barclays Bank PLC?
All Standard Life Cash Savings products and all Freestyle® mortgages, which are provided by Standard Life Cash Savings & Mortgages, are now part of Barclays Bank PLC. Please see question below for queries relating to Lifetime or Futureperfect mortgages.
Do I still call the same telephone number to service my account/access my money?
Yes. The way you service your account has not changed. You can continue to call 08457 555 657 for personal cash savings, 08457 555 659 for business cash savings and 0845 845 8450 for mortgages.
Can I access my account through Barclays branches, telephone banking and online banking services?
The way in which you access your account has not changed. This means you continue to operate your account through Standard Life Cash Savings & Mortgages online and telephone services. At this time, Standard Life Cash Savings & Mortgages customers can not access their accounts through the Barclays branch network, telephone banking or online banking services, but we will let you know at a later date when this will be available.
Can I still access my money online?
Yes. There are no changes to how you operate your account. You can continue to access your account online at www. slcashsavings.co.uk using your existing PIN and password. If there are changes to your account in the future, we will notify you in line with your account terms and conditions.
Has my online/phone PIN or password changed?
No. Your PIN and password have not changed.
Can I speak to you about my Standard Life Group products?
No, after the acquisition of SLB by Barclays only Savings & Mortgages were moved to Barclays, therefore your other products are still held by Standard Life Group .
Why can I no longer pay interest away to my nominated account?
As we are now part of Barclays we are taking steps to align our process and therefore only allowing you to pay interest away to a Barclays external bank account or another Standard Life Cash Savings account
I have a Barclays account so can I change my nominated external bank account to pay interest to my Barclays account?
Yes, but please bear in mind if you change your nominated account this is the account that will be used going forward for all withdrawals from, and payments into your account.
Why are you no longer selling new products?
As we are now part of Barclays we are taking steps to begin to align our products and services with Barclays. This will allow us to operate more efficiently and subsequently provide you with the best possible service now and in the future.
Why are you no longer accepting formal ISA Transfers In?
As we are now part of Barclays we are taking steps to begin to align our products and services with Barclays. This will allow us to operate more efficiently and subsequently provide you with the best possible service now and in the future.
Can I apply for a Barclays product?
Personal Accounts
Yes you have access to the full range of Barclays products. If you already have an account with Barclays you can apply via telephone banking on 08457-555-555 and they will be able to talk you through the current products that are available.
If you do not have a Barclays account you will need to visit a Barclays Branch to present the relevant Identification and Verification prior to opening an account, some example of acceptable forms of identification as shown below.
To confirm who you are we need to seen an original version of one of the following:
To confirm where you live, we need to see the original version of one of the following:
If you are considering opening a business account with Barclays you can contact the New Customer Team who will be able to book an appointment for you with a Barclays Business Manager. You can contact them by calling 0800 515 462 and they will be able to assist you.
Can I check my direct debit mandate date?
You can check your direct debit mandate date by viewing the 'Future Transactions' option within our secure online service.
Can I have a new DDM?
Please call our savings department on 08457 555 657 (Personal accounts) or 08457 555 659 (Business accounts). You will need your 10 digit account number, security password and PIN ready.
Can I have a statement?
You can view your last 100 account transactions using our secure online service secure online service or request an interim statement at any time ‘by calling our savings department on 08457 555 657 (Personal accounts) or 08457 555 659 (Business accounts) to arrange this.
Can you change my statement frequency?
Your statements will be issued or made available on an annual basis, however you can request an interim statement at any time. Call our savings department on 08457 555 657 (Personal accounts) or 08457 555 659 (Business accounts) to arrange.
Can you confirm my interest rate?
Details of our current interest rates can be found on the Rates page of our website.
What is your sort code?
Our accounts do not have a sort code. Deposits can be made using our secure online service. We will collect the funds from your nominated external bank account providing the direct debit mandate is live.
Can I make a Clearing House Automated Payments System (CHAPS) transfer?
To request a CHAPS transfer, please call us on 0845 7 55 56 57 (Personal accounts) or 08457 555 659 (Business accounts). A fee will be charged for this service.
Can I cancel a transaction?
You can cancel a transaction up to three working days before the effective date through the Future Transactions' option within our secure online service.
How do I withdraw from my account?
Withdrawals can be made through our secure online service or by calling 0845 7 55 56 57 (Personal accounts) or 08457 555 569 (Business accounts). Funds will be transferred to your nominated external bank account.
How do I deposit into my account?
Deposits can be made through our secure online service or by calling 0845 7 55 56 57 (Personal accounts) or 08457 555 569 (Business accounts). We will collect the funds from your nominated external bank account providing the direct debit mandate is live.
Can I add a new authorised person to a business plan?
These changes need to be made by one of our customer service representatives. Please call 0845 7 55 56 59.
I've recently married. How do I update my name?
Please send us an original copy of the marriage certificate, along with a covering letter containing your signature in both married and maiden names, to: Standard Life Cash Savings, PO Box 23966, Edinburgh EH3 1BF. We will update your details and return the certificate as soon as possible.
How do I make you aware of a death of an account holder?
Please call our savings department on 08457 555 657 (Personal accounts) or 08457 555 569 (Business accounts). If possible, please have the account number to hand when calling.
How do I change my contact details?
Please call us on 08457 555 657 (Personal accounts) or 08457 555 569 (Business accounts).
Can I change my nominated external bank account?
Please call us on 08457 555 657 (Personal accounts) or 08457 555 569 (business accounts). We will confirm your new bank details and issue you with a new direct debit mandate. You will need to have your 10-digit account number, security password and PIN to hand when calling.
Can I have your address?
Standard Life Cash Savings
PO BOX 23966
Edinburgh
EH3 1BF
T: 08457 555 657 (Personal accounts) or 08457 555 569 (Business accounts)
Can I confirm my user ID?
If you have your internet password but are unable to remember your user id, please visit our Customer Log In page and select the 'Forgotten User ID' option. Alternatively, you can call us on 08456 090 256.
Can you revoke my internet access?
Please call us on 08456 090 256 if you would like us revoke online access to your accounts.
How do I register to manage my savings accounts online?
Follow this link for full details on how to register for online servicing.
How do I cancel a transaction?
Transactions can be cancelled through the 'Future Transactions' option.
> Go to Customer Log In
How do I arrange a withdrawal?
Withdrawals can be made by selecting the 'Withdrawal' option from the menu on the left hand side of the page.
> Go to Customer Log In
How do I arrange a deposit?
One-off deposits can be made by selecting the 'Single Deposit' option from the menu on the left hand side of the page.
> Go to Customer Log In
How do I close my account?
You can withdraw your full balance via online banking but if you want to close your account you will need to call us on 08457 555 657 (Personal accounts) or 08457 555 569 (Business accounts).
> Go to Customer Log In
Will my mortgage rate change?
There are no changes to your mortgage rate as a result of the transfer. However, any variable rate is still subject to future change in line with your Mortgage terms and conditions.
I have a Futureperfect mortgage/Lifetime mortgage with you. Is this affected?
Lifetime mortgages:
Before the sale of Standard Life Bank to Barclays, customers who held Lifetime mortgages with Standard Life Bank were notified of the transfer of their accounts to another Standard Life group company, Standard Life Lifetime Mortgages. This company is the provider of all Lifetime mortgages and now holds all of these products for Standard Life; however, Standard Life Cash Savings & Mortgages has agreed to continue servicing these products.
Futureperfect mortgages:
Futureperfect mortgages continue to be provided by Standard Life Assurance Limited; however, Standard Life Mortgages has agreed to continue servicing these products.
Offsetting
From 12th August 2011, the Freestyle option for Offset to be applied to your mortgage will no longer be available for new customers.
From 12th August 2011, the Freestyle option for Offset to be applied to your mortgage will no longer be available for new customers.
How does Offsetting work?
Interest is calculated on your outstanding mortgage balance minus the amount in your Offset Reserve but your monthly payment is always calculated on the total outstanding mortgage balance.
So if you:
Maintain the level of your mortgage payment
If you choose to maintain your current payment level you will effectively be overpaying because the interest payable has reduced. The effect of this further reduces the total interest charged and, as your mortgage balance reduces means:
Reduce your mortgage payment
If you choose to reduce your monthly payments the payments you make will remain the same until the next recalculation of your mortgage. This happens in one of two ways:
Until your review you are effectively overpaying so, at your mortgage recalculation, we will calculate your new payments on the reduced mortgage balance whilst keeping the mortgage term the same. That means your new payments will be lower than they otherwise would have been.
Will I pay a higher interest rate on my mortgage if I choose to Offset?
No, your interest rate is unaffected by active Offsetting.
How do I move money in and out of my Offset Reserve?
You can move money in and out of your Offset Reserve easily, either regularly or in lump sums by phone, online or by direct debit (withdrawals take three working days to clear).
Please note, moving money out of your Offset Reserve will increase the interest payable on your mortgage balance.
Can you tell me more about the tax benefits I could gain from Offsetting?
By Offsetting, you don't pay tax on the interest benefit gained. For example, on a mortgage rate of 6% you would need to earn the equivalent of 7.5% on your savings if you're a basic/lower rate tax payer and 10% if you're a higher rate taxpayer to match the benefit of Offsetting. This tax benefit may change in the future.
What is the Financial Services Compensation Scheme?
The government created the Financial Services Compensation Scheme (FSCS) to protect customers of banks and other financial services institutions in the UK. The FSCS will pay compensation to customers in the unlikely event that a bank or other financial services company is unable or likely to be unable to pay claims against it, including if it fails to repay deposits owed to customers.
Who is protected by the FSCS?
The FSCS protects most customers, including private individuals and small companies (as long as they meet the "small company" criteria set out in the relevant Companies Act) that deposit money with a Financial Services Authority-authorised deposit taker. Larger companies, large partnerships, large mutual associations and local authorities are generally excluded. For more information about the scheme (including the amounts covered and eligibility to claim) please refer to the FSCS website www.fscs.org.uk or call 020 7741 4100 or 0800 678 1100.
What cover do my deposits have under the FSCS
The FSCS can provide up to a maximum of £85,000 protection per person per bank or financial services institution. From 1 June 2010, Standard Life Cash Savings and Barclays are part of the same banking entity. Therefore, for the purpose of the FSCS cover, your deposits across Standard Life Cash Savings and Barclays are considered to be combined even if they sit in separate accounts. This means your maximum possible cover is now £85,000 covering deposits with BOTH Barclays and Standard Life Cash Savings.
Is my savings bond covered by the FSCS?
Yes. All personal savings accounts and personal savings bonds are covered by the FSCS up to the £85,000 compensation limit.
If I have a child saver account, is the child covered separately?
Where a parent or guardian has opened a Children's Savings Account with the bank on behalf of a child, the FSCS recognises that the money in the account belongs to the child and not to the parent. The parent will be able to make a claim on behalf of the child and the child will be entitled to his or her own £85,000 protection. This is separate to any protection the parent has for his or her own accounts.
What happens in the case of a joint account?
In the case of a joint account, the FSCS will assume the funds are split equally between the account holders, unless evidence shows otherwise. This means that each account holder in a joint account would be eligible for compensation up to the maximum limit of £85,000. This limit will cover any deposits either account holder may have in their own name with the same institution e.g. for a couple with a joint account the maximum protected amount would be up to £170,000.
