If you're a UK resident and at least 18 years old you're eligible to open an account with us.
You can only open a Vanquis Bank Savings account online. You'll need the account number and sort code of your personal UK bank or building society account (which must be in the same name(s) as the Vanquis Bank Savings account you're opening) to set up a nominated account. The deposit account can only be funded from the account registered as a nominated account with us. Funds received from accounts other than the nominated bank account will be returned to source.
You need to complete the Power of Attorney Application Form. To obtain a form please call us on 0191 505 0033**. Instead of the person for whom you have Power of Attorney signing the documentation, you and any other person with whom you hold the Power of Attorney will need to sign the documentation and provide evidence of the Power of Attorney.
Yes, you can open more than one account. If you already have a Vanquis Bank Savings account you can apply quickly and easily for an additional account by clicking here to log in to your account and open another account.
Two people can have an account together. We assume that each account holder owns an equal share of the money in the account and you're both jointly liable for the account. We will act on sole instructions (i.e. instructions from either but not both of you).
You will each receive an individual User ID and password to access your joint account online.
Until 5 April 2016, savings interest had tax deducted at 20% before you received it. If you're a higher-rate or additional-rate taxpayer, you will have had further tax to pay. Customers who are UK residents can complete and register an R85 to receive interest without deduction of tax providing they meet the eligibility criteria set out within the R85 Helpsheet.
From 6 April 2016, you will receive your savings interest without tax deducted.
If you're a UK taxpayer, you will have a tax-free Personal Savings Allowance (PSA) of £1,000 (or £500 for higher rate taxpayers and £0 for additional-rate taxpayers) on the interest that you earn on your savings.
Any interest you earn above your PSA will be subject to tax. It will be your responsibility to ensure that any tax due on interest payments received is paid to HM Revenue & Customs (HMRC).
Please note your PSA applies to the total interest you earn from all banks/building societies, not just interest from Vanquis Savings, with the exception of ISAs, which continue to be free from UK tax for eligible customers.
Please also note that tax liability on interest applies in the tax year it is paid, which may be different to the tax year(s) in which interest has accrued.
If you've paid tax on your savings in a previous tax year and you think you shouldn't have, you'll need to complete an R40 claim form.
Go to gov.uk/hmrc or download the PSA leaflet (Opens or Downloads a PDF) for more information
From 6 April 2016, all banks and building societies will stop deducting tax from interest paid on savings accounts. All UK taxpayers will have a Personal Savings Allowance which will allow most UK taxpayers to earn tax-free interest on their savings. For basic rate taxpayers this allowance will be £1,000 and for higher rate taxpayers £500. If you earn interest above your Personal Savings Allowance in any one year you may need to make arrangements with HMRC to pay tax on this interest.
Should you need more information on this please visit www.gov.uk/hmrc/savingsallowance.
Before you open an account with us we must check your identity and address. We start this by checking a number of electronic databases. The process involves matching your personal details against a range of publicly available records and credit records. Details of credit histories will not be made available to us. Although the data provider may log the search it will not be used for future credit assessment purposes. In some cases we may not be able to obtain a match, for example if you've recently moved house or have little or no credit history. In these situations we will ask you to provide documentary proof of your identity and/or address.
Anti-money laundering rules and guidelines require us to understand the origin of the funds for an investment prior to completing any transactions. We will ask you to provide sufficient information to allow us to understand how you have obtained the funds for your investment. This should detail the origin of the funds which may not necessarily be the last place they were invested. You may be asked to provide documentary proof of the source of wealth. We will let you know what we need from you.
We will also ask you to provide a nominated UK bank or building society account which you will use to send and receive funds from your account with us. We will verify this account via electronic sources.
In some circumstances, in order to open your account, we will need some further information to confirm your identity. If we have asked you to provide this information a list of acceptable identification documents is shown below
Please send us one of the listed documents, ensuring that the forename(s), surname(s) date(s) of birth and address on these documents match those given in your application for you and any other applicant.
Unless we've indicated you should send us originals, to avoid the risk of loss of any original documents in the postal system, we would recommend that you send us certified photocopies of documents as opposed to originals. Any original documents you send will be returned to you.
In some circumstances, in order to open your account, we will need some further information to confirm your address. If we have asked you to provide this information a list of acceptable documents is shown below
Please send us one of the documents listed below, ensuring that the documents are addressed to you and any other applicant individually showing surname(s), initial(s) and full address(es) (including the postcode) and match the address(es) given in your application.
Unless we've indicated you should send us originals, to avoid the risk of loss of any original documents in the postal system, we would recommend that you send us certified photocopies of documents as opposed to originals. Any original documents you send will be returned to you.
In some circumstances, in order to open your account, we will need some further information to confirm the origin of your wealth for an investment. If we have asked you to provide this information a list of acceptable documents is shown below
Please send us one of the documents listed below, ensuring that the forename(s) and surname(s) on these documents match those given in your application for you and any other applicant.
Acceptable persons to certify evidence of identify and/or address and/or source of wealth are a solicitor (or a firm of solicitors), an Accountant (with a recognised qualification), bank official, post office official, a financial advisor and police officer. Certifiers are required to provide their name, contact details, signature, date, and professional registration number and/or business stamp on the copies of the documents.
You can use the Document Certification Service from the Post Office, available in selected branches. You can find out more about this service on the Post Office's website at www.postoffice.co.uk
A BACS, CHAPS or Faster payment
You can pay us from your nominated UK bank or building society account. The account details will be provided to you in the Welcome letter.
If you change your mind within 14 calendar days of opening your account, please call us to notify us of your decision and we'll cancel your account, and no notice periods or charges will apply. If you cancel your application before the account is open and you have already made your deposit your funds will be returned to source and no interest will be paid.
A fixed rate bond is a type of savings account where you invest a lump sum for a set period of time. During the fixed rate period you cannot add additional funds, make withdrawals or close the account.
A fixed rate bond may be suitable if:-
A fixed rate bond might not be suitable if:-
A notice account is a type of savings account that requires you to give us notice before you withdraw any money from it. For example, with our 90-day notice account, if you wanted to withdraw some or all of your savings, you would need to give us 90 days' notice in advance.
A notice account might be suitable if:-
No. You cannot make a withdrawal from your notice account earlier than the notice period stated on the terms of your account. In exceptional circumstances we may allow a withdrawal without the required notice at our discretion, subject to evidence, such as:-
If you have a Notice Cash ISA you may make a withdrawal without notice, however a deduction of interest will apply, which could mean that you get back less money than you invested.
If you wish to make a withdrawal you can log in to your account, select the 'MoveMoney' option and follow the instructions on screen. You'll need to confirm the amount you would like to withdraw and select the date you would like the withdrawal to take place (this must be a working day) and it must be after the required notice period. The requested amount will be paid into your nominated account on your selected day.
Yes. If you want to change your mind you can log in to your account and cancel your instruction by 5pm the day before the withdrawal date on a working day, and by 4pm the day before the withdrawal date if this is a non-working day.
No. You can just withdraw part of your savings if you wish, providing it does not fall below the minimum operating balance of £1,000. Please refer to the terms and conditions of your account for further details of your minimum operating balance.
You can contact us at anytime for additional support by:
Email: customerservice@vanquissavings.co.uk
Post: Vanquis Bank Savings,
Freepost RUGA-ZTJL-HBTJ,
PO Box 967,
Wallsend,
NE28 5FD
Phone: 0191 505 0033*
Our contact hours are Monday - Friday 9am - 5pm (we close on bank holidays). Please note that we may monitor and record telephone calls for training and security purposes. Calls to 01 numbers from UK landlines and mobiles are normally included in free plan minutes if available.
Your best interest is our top priority. If you need a 'Reasonable Adjustment' on your account, such as your statements in Large Print, Audio or Braille, please:
Call our team on 0191 505 0033.
Alternatively write to us at Vanquis Bank Savings,
Freepost RUGA-ZTJL-HBTJ,
PO Box 967,
Wallsend,
NE28 5FD.
We'll send your Large Print, Audio or Braille statements free of charge
We are here to help you operate your account successfully. You can contact us at anytime for additional support by:
Email: customerservice@vanquissavings.co.uk
Post: Vanquis Bank Savings,
Freepost RUGA-ZTJL-HBTJ,
PO Box 967,
Wallsend,
NE28 5FD.
Phone: 0191 505 0033*
* Our contact hours are Monday - Friday 9am - 5pm (we close on bank holidays). Please note that we may monitor and record telephone calls for training and security purposes. Calls to 01 numbers from UK landlines and mobiles are normally included in free plan minutes if available.
Cash ISAs are a type of savings account that allow you to earn interest on your savings completely tax free, which doesn't count towards your Personal Savings Allowance. In the current tax year (6th April 2024 - 5th April 2025) you can save up to £20,000 without paying tax on the interest.
To be eligible for a Vanquis Cash ISA you must be 18 or older, a UK tax resident and provide your National Insurance number.
Yes. This means if you make a withdrawal you can replace the money you've withdrawn without it counting towards your annual ISA subscription limit, providing you replace the funds in the same tax year you withdraw them. All withdrawals will result in a loss of tax-free status on the amount withdrawn. A deduction of interest or a notice period may apply to some of our products (see each individual product for details). This could mean that you get back less money than you invested.
Our Easy Access account allows customers to make deposits and withdrawals when they need to, without fees, notice periods or loss of interest. Easy Access accounts have a variable interest rate which means that the interest rate may change from time to time.
If you want to make a withdrawal you can log into your account, go to the 'Your Accounts' section and select the 'Move Money' option and follow the instructions on screen.
For Easy Access withdrawals, if you request a withdrawal before 5pm on a working day, the money will be paid into your nominated account the following working day. If you request a withdrawal after 5pm, your money will be paid into your nominated account on the second working day.
You can transfer money into your account using the bank details provided in your Welcome Letter.
Alternatively, you can send us a cheque from your nominated account. You'll need to:
We do not accept banker's drafts.
All deposits must come from your nominated account and the total balance must not exceed £250,000, plus any interest paid across all your savings accounts held with Vanquis.
If you've lost your Welcome Letter, please call us on 0191 505 0033.
If you have a Fixed Rate Bond, you cannot add any money once you have funded it.
If you have a Fixed Rate Cash ISA you can only add money if you have made a withdrawal to top it back to the level you originally had.
Your Personal Savings Allowance is the total amount of interest you can earn each year across all of your bank accounts without paying tax. A PSA allows people who pay a basic or higher rate of income tax to have an amount of savings interest that's kept tax-free.
Yes, we offer ISA transfers, so you can switch your ISA from your current provider during your application. You can transfer your existing ISA in full or in part.
An Easy Access Account might be suitable if:
An Easy Access Account might not be suitable if:
A Cash ISA might be suitable if:
A Cash ISA might not be suitable if:
You can choose to invest between £1000 and £250,000
We need to receive your deposit into your Vanquis Bank Savings account within 30 days of your application.
We need to receive your deposit into your Vanquis Bank Savings account within 30 days of your application.
You can transfer funds from your nominated account by BACS, CHAPS or Faster payment
The account details will be provided to you in your welcome letter.
If you are depositing money into a fixed rate bond account, due to some limits imposed by banks on transferring your funds, we will accept multiple payments within a 5 business day window. This window starts on the day we receive your first deposit.
Alternatively, you can send us a cheque from your nominated account. Just make the cheque payable to Vanquis Bank Savings followed by your full Vanquis Bank Savings account number, provided in your welcome letter, and send it to us at Vanquis Bank Savings, Freepost RUGA-ZTJL-HBTJ, PO Box 967, Wallsend, NE28 5FD. We do not accept banker's drafts.
A Nominated Account is a UK personal bank or building society account in your name(s) that we link to your Vanquis Bank Savings account. The deposit account can only be funded from the account registered as a nominated account.
The Vanquis Bank Savings bond starts earning interest when funds have successfully transferred into your Vanquis Bank Savings account. If you deposit funds by cheque this will earn interest from the business day after we receive your cheque. Interest is paid on the anniversary of the date your account was funded, either monthly or annually.
You'll receive a letter in the post confirming your user ID. Once you have received this you will be able to access your account online.
Your account will be available to you online 24/7 (unless the system is down for maintenance).
Log-in here and follow the on-screen instructions. You will need your User ID, Password and Memorable Details handy.
We issued your User ID to you when you opened your account. If you cannot remember your User ID you can use the self-service portal to retrieve your details by clicking here.
No. However you can reset your password in minutes simply by clicking here and then clicking on 'Forgotten Password?'
If you cannot remember your memorable information please call us on 0191 505 0033**
You can print your statement by clicking here to log in to your account and view the statement of the account you wish to view. You can select to see a mini, custom or interest only version of your statement and also the "start" and "end" dates for the period you wish to look at. Once you've made your selection click on the "Print Statement" button.
We will write to you at least 3 weeks before your maturity date to remind you that your Fixed Rate Bond is maturing. At this point we will ask you to log in to your account and select your maturity options.
If we do not receive instructions from you at least two days before the maturity date, we will automatically reinvest your deposit in an Easy Access account which may not have the same interest rate.
The Easy Access Account is a variable rate product. Details, including the interest rate, will be emailed and posted to you prior to the maturity of your account, and confirmed in a follow-up letter if your account reaches maturity and transfers into an Easy Access Account in the absence of other instructions.
You will need to make your maturity options online by logging in to your account. You can choose to:
If we do not receive instructions from you at least two days before the maturity date, we will automatically reinvest your deposit in an Easy Access account which may not have the same interest rate.
The Easy Access Account is a variable rate product. Details, including the interest rate, will be emailed and posted to you prior to the maturity of your account, and confirmed in a follow-up letter if your account reaches maturity and transfers into an Easy Access Account in the absence of other instructions. If your account balance does transfer into an Easy Access Account you will need to get in touch with us to discuss gaining immediate access to your funds.
If you don't have a Nominated Account set up you can do this by clicking here to log in to your account online. Please note that it takes 6 working days to set your account up, so please do this in plenty of time before your account matures. Once this is set up, you will need to log into your account to select your maturity options.
You will receive necessary communication to set up and authenticate your nominated account at the time of account opening.
You can see the interest rate for your account by clicking here to log in to your account. Interest rates are shown under the "Account Details" section of your selected account.
You can change your interest instructions by clicking here to log in to your account. You'll need to follow the on-screen instructions on the Change Interest Instructions page to complete your request. We will write to you once we have updated your account. To take effect on your next interest payment, we must be in receipt of any changes at least 5 days prior to the due date.
When you apply for your account you can choose to have interest paid monthly or annually. If you have chosen to have your interest paid annually it will be paid on the anniversary of the day your deposit was initially received by us. If you have chosen to have your interest paid monthly it will be paid on the same day in the month as the day your deposit was initially received by us. If the payment date is not a working day then it will be paid on the next working day.
You can tell us whether you want your interest paid annually or monthly by selecting your preferred interest instruction when you apply. Once your account is open you can change this online. To change your interest instruction online simply log into your Vanquis Savings account and select 'Change Details', then 'Change Interest Instruction'. Confirmation of any amendments made online will be sent via email.
You can change your address by clicking here to log in to your account and following the on-screen instructions to print off, complete and send in the "Change of Details" form. We will write to you once we have updated your account. Alternatively, you can send us a secure message with your new address details. Please note that we will require a message from each account holder.
You can change your email address by clicking here to log in to your account. You can update your email address by following the on-screen instructions. We will confirm via emails to both your new and old email addresses once this has been updated.
You can add another account holder by clicking here to log in to your account. You'll need to follow the on-screen instructions to print off, complete and send in the "Change of Details" form, together with the appropriate proof of identity and residency documents.
If your account has not yet been funded, the interest displayed on your online account is in line with what was offered to you as part of your application. Once your account has been initially funded, your account will receive the higher interest rate, if there has been an interest rate increase on the product in the interim period between your account opening date and initial funding date.
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000 per person per bank. For joint accounts each named account holder is treated as having an individual claim in respect of their share so, for a joint account held by two individuals/depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000).
The £85,000 limit applies per person per bank and therefore relates to all the depositor's accounts held with the bank combined together, (including their share of any joint account), and not to each account separately.
Yes. Vanquis Bank Savings is covered by the Financial Services Compensation Scheme (FSCS), the UK's deposit protection scheme. The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. From 30 January 2017 your eligible deposits with Vanquis Bank Savings are protected up to a total of £85,000. Any deposits you hold above the £85,000 limit are not covered. For joint accounts each account holder is eligible to claim a maximum of £85,000 (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank, including their share of any joint account, and not to each separate account. For more information please refer to the FSCS website. www.fscs.org.uk
For further information about the scheme (including the amounts covered and eligibility to claim) please contact us as explained in the Contact Us tab on this website or refer to the FSCS website www.fscs.org.uk or call 0800 678 1100 or 020 7741 4100.
No. Vanquis Bank is an independent UK bank authorised and regulated by Financial Conduct Authority and the Prudential Regulation Authority and is entered in the Financial Services Register under number 221156.
The FSCS protection applies to a 'financial institution' and not at a bank or building society brand level. If you spread your savings across banking and building society brands that are owned by the same financial institution then the amount of money that is protected by the FSCS remains the same. A list of financial institutions and the banks and building societies they own has been prepared by Which? and can be viewed here.
As Vanquis Bank is independent of other UK bank and building society brands offering savings and investment products, your savings are eligible for the full amount of FSCS protection.
If you wish to make a complaint write to us at Vanquis Bank Savings, Freepost RUGA-ZTJL-HBTJ, PO Box 967, Wallsend, NE28 5FD or email us at complaints@vanquissavings.co.uk. If you make a complaint, we will aim to resolve it as quickly as possible. If you are still not satisfied, you may be able to refer your complaint to the Financial Ombudsman Service (FOS). You can find out more at www.financial-ombudsman.org.uk.
Download Our Complaints Procedure (Opens or Downloads a PDF).
Yes, please click here to view our complaints data
Yes, please click here to view our remuneration data
Please call us immediately. We will check your account for you and set up new account or security details straightaway.
Visit our fraud page for helpful hints, tips and more websites that could help protect you from fraud.
There are a few basic steps you can take to ensure that your computer is protected.
The three essential steps to protect your computer are:
We provide a safe and secure environment in which to operate your online savings account.
Your account can only be accessed by entering your unique User ID, password and memorable information.
You will be automatically logged out of your account if you leave your screen inactive for more than five minutes. You should always log off whenever you leave your computer. However, the automatic time-out provides some additional protection.
Whenever you log into your account online, the date and time that you last logged in is displayed for your protection.
Please contact us immediately if you haven't logged in on the date and time shown and you think your account may have been accessed by anyone other than yourself.
Visit our fraud page for helpful hints, tips and more websites that could help protect you from fraud.
Visit our fraud page for helpful hints, tips and more websites that could help protect you from fraud.
Please contact us immediately on 0191 505 0033. We're open Monday to Friday 9am to 5pm. You can read more about how you can protect yourself from fraud here.
If you don't recognise transactions on your Savings account, please call us as soon as possible on 0191 505 0033. We're open Monday to Friday 9am to 5pm.
** Lines open between: 9am and 5pm Monday to Friday (excluding bank holidays). Please note that we may monitor and record telephone calls for training, security and monitoring purposes.