Transfer your current ISA to RCI Bank

Deposits into your RCI Bank account can be made by one-off electronic payments or regular standing orders. These payments must be from your nominated (linked) current account. 

If we receive a payment from a current account that is different to your nominated (linked) current account, the funds will need to be returned. Funds can also be deposited from an existing RCI Bank account in your own name, if the account terms allow.

Please use the details below when making payments to your RCI Bank account:

• Sort Code: 40-02-50
• Account Number: 81359894
• Payee/Beneficiary: your full name (first name and second name)

Your payment reference is your 13‑digit RCI Bank account number, which can be found on your Online Banking and Mobile App homepage.

If you have multiple accounts (for example, a Freedom Savings Account and a Notice Account), each account will have a unique 13‑digit account number e.g. ABC1234567ABC. 

Please remember to quote your payment reference number on all payments. If you have multiple accounts, please ensure that you reference the correct one. If your payment reference is missing or inaccurate, we’ll need to send the money back to your linked account.

To make withdrawals to your linked account, log into your online banking or mobile app, choose the account you want to withdraw money from and click 'Make a Withdrawal'.
 

Deposit timelines: When you send RCI Bank UK a valid electronic payment, your funds will appear in your RCI account as follows:

Withdrawals made before 1pm will be in your linked account the same day. If you make withdrawals after 1pm then funds will appear the next business day.

On weekends, bank holidays and seasonal holidays add extra time accordingly. 

Where the 24th or 31st December falls on a business day, an earlier withdrawal cut off time of 11am will apply.

When you apply for an account, we'll ask you to 'link' a UK current account to your RCI Bank account. Your linked account must be in your own name. This 'linked account' will be used to make deposits into and withdrawals from, all the RCI Bank accounts you may have with us. 

If you open both individual and Joint accounts, the linked account details must be the same for all accounts and should be in the name of both account holders. You can only have one linked account at any time.

Please note that you cannot nominate an account held with electronic money institutions or payment institutions (e.g. Prepay Technologies, Loot, Pocket, Revolut, Tide, TransferWise or similar providers).

When you add the linked account to your RCI Bank account we first authenticate its details and that it belongs to you. We'll only pay your money back to the linked account after it is verified. 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.

If you have passed our online security checks automatically, you will be notified at the end of the account application and you will now be able to fund your account. 

Please note, if your product terms allow, you will not be able to withdraw any money until you have authenticated your linked account details. Instructions on how to do this will be sent out in the post soon after account opening. You will also receive a welcome pack in the first few days after account opening which will provide you with instructions on how to log into online banking.

If you have not passed our online verification checks, you will be asked to provide supporting documentation. Until this documentation has been accepted, you will not be able to fund your account. 

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

Once the account is open, we'll provide you with your 13-digit unique account number which will be three letters, followed by seven numbers, then 3 letters, e.g. ABC 1234567 SMI.

You can use either as your unique reference on every deposit you make into your RCI Bank account.

We only accept deposits from your linked account. If you send us money from another account, the funds will not be accepted and will be returned to that account. Returned payments normally take around two business days.

If you'd like to change your linked account, you can do this by logging into online banking. Before you can use your new linked account, you must first authenticate the new details. Instructions on how to do this will be sent out in the post.

We accept cheques only for the first deposit into your account. After that, you'll need to use your linked account to make any future deposits. Cheques should be made payable to "RCI Bank re: your name, 9-digit application reference number" (e.g. 'RCI Bank re 987654321, MR A SMITH'). 

If you happen to have been issued your 13-digit account reference number at this point, you can also use that instead of the application reference number. Either are accepted and will allow us to process your payment.

If you are thinking of making a deposit that would take your account balance over the maximum allowed, please get in touch with a member of the team on 0345 6056 050.

RCI Bank uses HSBC to process our customer payments, which is why they may appear on your statements. The correct Sort Code and Account Number is 40-02-50 / 81359894 and is a business account. 

When you apply for a new RCI Bank account, we would have provided you with a unique application reference number. Once the account is successfully open, we provide you with an account payment reference number. You must use either of these payment reference when making payments as this is how we transfer payments to and from the correct accounts.

You can make internal transfers between your accounts or to fund a new account using your Freedom Savings account. In online banking, you first select the account you would like to transfer the funds from and click 'make a withdrawal'. Then, you choose the account you want to transfer the funds to.