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Back to the future

Passbook based savings accounts

A trusted way to save

Many customers like the convenience of managing their savings online, which has led to banks and building societies prioritising digital services over more traditional ways of saving.


This means that savers across the UK no longer have the option to use a passbook based account. Although there has been more of a focus on online accounts, many savers value their passbook as it allows them to see their account balances without the trouble of needing to go online. 


We want to ensure our members have choice when it comes to managing their finances, and we believe in the value of a passbook based account. 

Some advantages of having passbook based savings account:
  • Budgeting– some savers use a passbook account to help manage their finances better. It can help customers to monitor their spending by stopping ‘impulse buying’ which can be an issue with online banking.
  • Accessibility – some people are not comfortable with or have access to online banking services. This includes people who lack confidence using digital platforms and prefer traditional banking methods, they find they can trust the passbook.
  • Community support - passbooks are associated with branches, providing customers with face to face banking and support. Going into a branch helps customers feel supported, particularly during this economic climate.

Scott's passbook journey

We spoke with one of our members, Scott Hamilton, about why he likes his passbook savings account. The 25-year-old NHS worker is on a savings mission to buy his first property.

‘I use a passbook-based savings account because I find it an accessible way to look at my funds from home. The account offers me the opportunity to go into the Relationship Centre to have my savings updated and I've always benefited from meeting the team. They’re always supportive when answering any queries.

'I refer to my passbooks frequently to check my account balance and I like having the physical evidence of my funds. I believe the passbook helps me manage my savings by knowing the amount of funds available to me.’

When asked to describe his passbook savings account in three words Scott said: 'reliable, secure and supportive.'

Our passbook pledge

At Scottish Building Society our purpose is to serve the local community, and this is why we will continue to offer passbooks as a vital tool for customers, as well as investing in our Relationship Centres to provide accessible, face to face facilities which will serve their local communities.

Simply put, we want to ensure our members have choice when it comes to managing their finances, and we believe in offering them that.