FREQUENTLY ASKED QUESTIONS

 

Any questions? We've put together this handy page to help.

Of course, you can always get in touch 7 days a week.

 

CLICK ON A QUESTION FOR MORE :

Am I eligible?

Our accounts are open to UK residents aged 18 and over. You just need a valid UK address and a current account which you can use as your linked account.

What checks do you do?

As a responsible bank, it’s important for us to know who our customers are. We’ll ask questions to help us do this and so we'll try to verify your address and identity using automated systems during the application process. If our systems can’t verify you, you’ll need to send further evidence by post (we’ll let you know at the end of the application process).

Can I complete a paper or telephone application?

All account applications must be made online. You can also apply for extra accounts in just a few clicks when logged into online banking.

 

If you need help to go through the application, give us a call on 0330 2000 300 and we'll talk you through it.

What documents can I use as proof of my identity and address?

As a responsible bank, it’s important that we know who you are and how to get in touch. This helps us contribute to international standards and helps build a more secure and sustainable banking industry.

Where possible, we’ll check your details using online databases. Sometimes we’re not able to verify details this way and so we need to check your details some other way; we’ll ask to see evidence of your identity, address or both.

Find below a list of the types of documents we’ll accept in each case:

 

A: For proof of your identity
Photocopies are accepted unless otherwise mentioned.

  • Current valid passport

  • Current valid full UK driving licence

  • Original valid full Northern Ireland driving licence

  • Original National Identity Card for EU Nationals

  • Original Court Documentation (Enduring Power of Attorney / Lasting Power of Attorney / Court Order) (Donor only)

 

B: For proof of your address

Photocopies are accepted unless otherwise mentioned.

  • Current valid full UK driving licence
  • Original valid full Northern Ireland driving licence
  • Original Confirmation of entitlement to state or local authority benefits (Including tax credit, child benefit, housing benefit, educational grants, winter fuel bill etc. dated within 12 months)
  • Original pension statement / correspondence (dated within 6 months)
  • Original HMRC tax notifications valid for the current tax year e.g. tax assessment, notice of coding
  • Original UK bank or building society statement (dated within 3 months showing account activity, we can't accept credit card statements)
  • Original mortgage statement from a recognised lender (dated within 12 months)
  • Original Local Authority council tax demand valid for the current year
  • Original gas / electric / landline telephone bill (dated within 3 months)
  • Original water bill (dated within 12 months)
  • Original letter from Matron / Manager of a nursing home, long term care unit or residential home for the elderly (dated within 3 months).

Send these documents to:

‘Freepost: RCI BANK’

(that’s all - no stamp or address details needed).

If you want to send originals or certified copies and prefer to send this by recorded delivery, you can send it to our PO Box at:

RCI Bank

PO Box 866

WALLSEND

NE28 5BQ

 

Not an EU national?

If you are not an EU citizen we may request a copy of your passport and proof of your right to reside within the UK.

 

Please note…

  • The documents supplied must reflect your current details

  • We can’t accept internet or branch prints.

  • We need separate documents from separate organisations as evidence for address and identity

  • If your details have changed recently, please provide evidence to show the link between the changes (i.e. marriage certificate)

  • We accept photocopies if they show all the details we need – we can also accept certified copies or originals if you prefer.

Not sure what documents you can use?

If you are unsure what documents we would like to see from you, we’d be happy to help - simply call the team 7 days a week on 0330 2000 300.

What if I change my mind?

You can change your mind at any time and close your Freedom Savings account yourself online. If you want to cancel the account opening you can do this in writing within the first 14 days of receiving your welcome letter. If you don't add any funds to your account after opening, we will close your account 30 days after the date of application.

Are there any charges?

Our savings accounts are free of charge. The only exception being CHAPS electronic payments which are available on request only and charged at £15 which is non-returnable.

What is your postal address?

If you need to send us documents or would like to get in touch by post, you can.

Simply write ‘Freepost: RCI BANK’ on the envelope. No stamp or extra address details are needed (yes, really!).

If you're sending original documents and would prefer to send them by recorded delivery, you can send them to:

RCI Bank
PO Box 866
WALLSEND
NE28 5BQ

How do I log into internet banking?

You can access the online banking by clicking the blue button at the top right corner of our website. Or click here.

You will need your User ID which you received with your welcome letter, your personal password and characters of your memorable data. If you have problems logging in, call our team on 0330 2000 300.

What's a linked account?

When you apply for an account, we'll ask you to 'link' a current account to your RCI Bank account. This will become your 'linked account'; the account you'll use to make and receive payments to and from all your savings accounts with us. Your linked account must be UK-based and in your name. 

You can only have one linked account at any one time and this will be linked to all the accounts you hold with us. You can change your linked account when logged into internet banking - this can take up to six business days, and you'll be able to use your existing details in the meantime.

We'll only pay your money back to the account from which it came. This is a simple idea but is very effective at protecting your hard-earned savings, and offers extra peace of mind that your money can only ever be paid back to you.

How do I pay into or out of my account?

Making payments into your account
You can transfer money from your linked account using one-off electronic payments and regular standing orders, as well as from existing RCI Bank accounts in your name. Cheques can be used to make only the first payment into a new account.

 

Simply make the payment in the normal ways your current account's bank allows, such as online, branch and telephone banking and set-up your new RCI Bank account as a new recipent using the details below.

 

Make your payment using the details we provided at account opening, some provided below for ease:

  • Beneficiary: RCI Bank UK
  • Sort code: 40-02-50 (this may show-up as HSBC - don't panic, they give us access to the UK payments platform)
  • Account number: 81359894
  • Payment reference: (use the 9 digit or 13 digits payment reference number we provided at account openeing or in emails from us).   


Please include the payment reference so we know it's you. If your payment reference is missing or inaccurate we'll send it back to you.


Making withdrawals from your account
You can make withdrawals to your linked account as long as your account balance allows. Just log into your online banking, choose the account you want to withdraw money from and click 'Make a transfer'.


Any money you withdraw before 2pm will be in your linked account the following business day.

How do I personalise my account?

You can personalise the name and image of each of your accounts to help you save. Just log into internet banking and choose the account you want to personalise.

What are the timescales for transferring money into my account?

As money is paid into your RCI Bank account through your linked account, you'll need to check timings with your linked account provider. However, if we receive your payment before 1pm on a business day, we'll credit this to your account by the end of the business day. If we receive funds after 1pm on a business day we'll credit this to your account by the end of the following business day. You'll start earning interest from the day we receive your payment.

 

 

 

I've made a payment (withdrawal) to my linked account. How long will it take?

If you make your payment by 2pm your money will be in your linked account by the close of business on the following working day. If you transfer money after 2pm, it will take an extra working day to reach your linked account.

 

I have made a payment from an account which isn't my linked account and it was returned. Now what?

We can only accept payments from your linked account. If you send us money from another account, we'll send it back to the account which it came from. This can take around two business days to be returned (this can take a little longer at weekends).

 

If you'd like to change your linked account you can do by logging into internet banking and can take up to six days.

Do you offer Faster Payments?

We are currently unable to offer Faster Payments. Payments normally take a couple of days (and a little longer if made at the weekend) - please read more on payment timescales above.

I wish to pay into my account by cheque. Who do I make the cheque payable to?

Cheques must be made payable to "RCI Bank re your name, reference number" (e.g. 'RCI Bank re 987654321, MR S SMITH'). We can accept cheques for the first payment into your account. After that, you'll need to use your linked account to make electronic payments.

Having an issue with your Handelsbanken, Coutts, Metro Bank, Leeds Building Society or Coventry Building Society linked account?

If your linked account is one of these providers:

 

  • Coutts
  • Handelsbanken
  • Metro Bank
  • Leeds Building Society
  • Coventry Building Society

 

...then it's likely you'll need to contact them to get their advice in being able to use the same account details to make and receive payments to and from.

 

In our experience these providers don't allow electronic payments to be made to the same account details that a withdrawal is made from. They may be able to advise which sort code and account numbers to use to allow easy payment to and from your RCI Bank account.

 

Please get in touch if you have any questions.

How do I reset my password or memorable details?

If you’ve forgotten or lost your User ID, password or memorable details please use the online prompts or call our team on 0330 2000 300.

How can I lock my account?

If you have the feeling someone else has access to your login details, please call our team immediately on 0330 2000 300 to lock your account. If this happens outside of our business hours, you can easily lock your account yourself by using the wrong password three times on the log in screen.

How do I get a 975 tax certificate?

You can print interest statements and a 975 tax statement yourself online. Just log into internet banking, choose the account you want the statement for and go to 'View interest'. If you need any help call our team on 0330 2000 300.

Am I eligible for tax-free savings?

If you're employed full time you may not be eligible, but it's worth checking. Click here to download an HM Revenue & Customs R85 help sheet, which will help you find out whether you can receive interest without tax taken off.

I am confused with the references that I have for my application/account. Which one shall I use?

When you apply for an RCI Bank account we'll give you a 9-digit unique application reference (Which starts with a '9', e.g. 987654321).

 

When the account is opened we'll give you an account number which will be three letters, followed by seven numbers, then 3 letters, e.g. ABC 1234567 SMI.

 

You can use either reference as a payment reference.

Can I close my account?

If you have a Freedom Savings Account you can close your account at any time in writing. You can do this through secure message (when logged into internet banking), by email (using the same email that we hold on record for you) or by post.

Where can I find my user ID

We'll send you your User ID in the post within a couple of days of opening your account. If you've misplaced this let us know and we'll resend it.

How secure is your site?

Our online savings accounts are a safe and convenient way to manage your finances. We use 'best practice' systems and take every step we can to protect your money. Our website is encrypted and secured. You can check the website is secure by the security certiticate appearing in the navigation bar at the top or bottom corner (depending on your browser), and the http:// should be https:// to indicate a secure site.

In return, we ask you to take responsibility for your access and security at your end. Specifically:

  • When you log in to internet banking, use your unique User ID, password and memorable data details.
  • If you call us we’ll ask you to confirm some details about your account to make sure it is you.
  • You’ll need to take all reasonable steps to keep your log in and security details safe. For example, don’t use easily-guessed details and don’t write them down or save them anywhere.
  • Always keep your details up to date, especially your address and email. You can update your details through internet banking. Specifically, your email address should be valid, current, and personal to you, and nobody else should have access.
  • The security of the device you use to access your account is really important and it’s your responsibility to keep it protected from attempts to gain access to your account. To prevent risk you shouldn’t access your account from a public computer or a location you don’t trust. Use strong passwords, and up-to-date virus checking and firewall software.
  • Log off when you have finished your internet banking.
How is my money guaranteed?

We’re covered by the French savings deposit scheme, the Fonds de Garantie des Dépôts et de Résolution (FDGR). Your deposits are protected up to €100,000 per customer and €200,000 in case of a joint account.


More information can be found on the scheme website FGDR website and on our deposit guarantee page.

How is RCI Bank regulated?

RCI Bank is authorised and regulated in France by the Autorité de Contrôle Prudentiel et de Résolution (ACPR), and subject of limited regulation by the UK regulators the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). For more information see our regulators page.

Do you allow businesses or intermediaries to open accounts?

Our accounts (and their terms) only allow personal individual customers to apply and manage an RCI Bank savings account, and prevent access to any other party. If you’re a business, financial advisor, cash management company or other intermediary looking to work with us, please contact us on hello@rcibank.co.uk or 0330 2000 300 in the first instance.

Can I pay in more than the maximum amount?

Our maximum account balance is £1 million. To deposit more than this please get in touch with our team on 0330 2000 300.

Are you recruiting?

Yes, we're growing. Please visit our careers page for our latest recruitment opportunities.

Where are you based in the UK?

Our UK office is based in Watford, and our customer services team is located in Newcastle-Upon-Tyne.

I have a car loan with RCI Financial Services, are you able to help me with a query?

Our sister company, RCI Financial Services, has a dedicated team and can be contacted directly on 0333 009 0233.

Do you have a number I can contact you on if I'm abroad?

Yes, if you're overseas you can contact us on +44 (0) 191 295 7775.

I tried calling 0330 2000 300 but can't get through, do you have another number I can get in touch?

In the unlikely event that we have an issue with our phone line, you can call us directly on our local Newcastle number: 0191 295 7775.

What happens if i have a Power of Attorney?

Please get in touch on 0330 2000 300 we can talk you through adding a Power of Attorney to your existing account or if you would like to set up a new account we will need to send you an application form in the post.

I have a question but it's not here?

Contact us, we're happy to help 7 days a week.