Once we receive your signed and completed application form and initial investment the account will be opened. This will usually take up to 4-5 working days.

In addition to this and for security reasons, each signatory will receive two separate e-mails. One will confirm details of the unique User ID code and the other will confirm details of a Password. Both pieces of information are required before you can log on to the account.

You’ll need your unique User ID code and password anytime you log into your account. This helps to keep your account safe and secure.

Once the account is opened, each signatory will receive a 'Memorable Details Form' along with the confirmation letter. For security reasons each signatory will need to complete and return one of these forms to us as soon as possible.

When the signatory has received all of the information and logged on for the first time they’ll be asked to provide memorable details, which will include a memorable name, memorable place and memorable date. You’ll need to provide these details if you ever want to make transactions over the phone for any reason.

Applications should be sent to your local branch or to:

Client Savings
Scottish Building Society
SBS House,

193 Dalry Road
Edinburgh
EH11 2EF

Once the account has been opened, you’ll receive a letter confirming the account number and the initial investment.

You can make your initial investment by Direct Debit Mandate against your nominated account and this will be collected from your nominated account.

You need a nominated account to transfer funds to and from your Scottish Building Society Client Account Online. The nominated accounts must be provided by UK clearing banks or building societies. You’ll also be asked to complete a Direct Debit form for your chosen nominated account. We need this to give Scottish Building Society the authority to transfer funds from the nominated account at your request.  

Please make sure that any bank/building society you choose to nominate will accept a Direct Debit mandate requesting payments through the faster payments system and originated by Scottish Building Society.

In order to be able to transfer money into the Scottish Building Society Client Account Online you must have set up individual nominated client accounts. When transferring money into the Scottish Building Society Client Account Online please allow 2 working days for the funds to reach your account.

Requests to transfer into the Scottish Building Society Client Account Online received before 2.00pm on a working day will be processed the same day. Requests to transfer funds received after 2.00pm will be processed the next working day.

When you log on to your account you’ll see a summary of your clients’ accounts showing the available balance. You can also view a client customer statement.

Your statements will show the following information for each transaction:

• Date of transaction
• Status of transaction i.e. cleared/pending
• Details of transaction
• Debit/credit indicator
• Amount of transaction
• Updated balance on account

Interest will be credited to your individual account on a quarterly basis and on closure.

0.15%

If you change your address or wish to change any of the personal details for the signatories, you should write to us on your company letterhead giving details of the changes. The letter must be signed by two partners of the firm. Once we have your instruction your details will be changed automatically and we’ll write to you to confirm the changes have been made.