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My Savings Terms
Here are your updated Savings Account Terms and Information Sheet which will take effect from 1 October 2019.
My Savings Questions
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How do I transfer money between my RBS savings and current account?
- You can make an internal transfer using Digital Banking, our Mobile app, using an ATM (follow the instructions on screen) by calling our Telephony team or by visiting your local branch
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From 1st October 2019, how do I make a payment or transfer money to an account out with RBS?
- If you have a RBS current account, you simply transfer money from your savings account to your current account and then make your payment from there using Digital Banking, our Mobile App, call our Telephony team or visit your local branch.
- If you don’t have a RBS current account and need to transfer money out of your account to a non-RBS account, you can visit us in branch
- If visiting us in branch, you will need to take some identification from this list.
- A current account is more appropriate for making and setting up regular payments. For full details of our account range, visit our current account page
- If your Instant Saver account has been changed to a Primary Savings account and you hold a Savings Builder, Premium Saver or Your Bank Instant Saver, you can transfer money from your Savings Builder, Premium Saver or Your Bank Instant Saver to your Primary Savings account and then make your payment from there using Digital Banking, our Mobile App, call our Telephony team or visit your local branch.
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I make a regular payment from my RBS savings account to the same person; do I need to set up this payment again on my RBS current account?
- No, if you have an RBS current account, you’ll see any existing payees you have set up for your savings account listed. So, you can simply select the payee and make the payment from your current account.
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You’ve told me you’re closing my savings account but I don’t want it closed; what can I do?
- If you would like your savings account to remain open, you will need to have paid some money into it and have a credit balance of at least £1 by 16th September 2019. It will then remain open.
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If I no longer have a card on my savings account, how can I withdraw cash?
- If you have an RBS current account you can transfer money into it from your savings account and withdraw cash using your debit card.
- If you don’t have an RBS current account you can withdraw cash from any branch.
- If visiting us in branch you will need to take some identification from this list
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How do I open a current account?
- You can open an account using our Mobile App, Digital Banking, calling us or visiting any local branch. Further details can be found in our support centre.
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How do I close my savings account?
- If the account is in your name only and you hold another account with RBS, you can do this online.
- If you have a joint account and/or have no other RBS accounts, you will need to visit any RBS branch or write to us.
- Further details can be found here in our support centre page
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What happens if I lose my savings account card or it gets stolen before it expires?
- As we’re no longer issuing cards for savings accounts, we will not be able to replace it. If you have an RBS current account you can transfer money into it from your savings account and withdraw cash using your debit card.
- If you don’t have a RBS current account you can withdraw cash from any branch
- If visiting us in branch, you will need to take some identification from this list
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What happens if I choose to close my current account but keep my savings account open?
- From the 1st October 2019, if you choose to close or switch your current account with us, you will only be able to withdraw money from your Instant Saver, Savings Builder, Premium Saver, and/or Your Bank Instant Saver in branch.
- If you have a Primary Savings account you can continue to access money from your Instant Saver, Savings Builder, Premium Saver, and/or Your Bank Instant Saver account by first transferring the money into your Primary Savings account and then withdrawing it from there.
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Will these changes impact an existing transfer arrangement I have between my savings account and another RBS Account?
- No, the changes will only affect your ability to make outward payments to non-RBS accounts. Any transfers between RBS accounts are unaffected by these changes.
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Is my ability to make International Payments impacted by these changes?
- No, International Payments will not be affected by these changes