Managing your telephone account
Answers to your common questions
How do I apply for a telephone account?
You can apply for all of our telephone accounts by phone. Call us on 0845 602 2828.
You can also apply for our telephone accounts online. To apply online, select the apply button on the account page and follow the instructions.
Make sure you read the terms and conditions of the account before applying.
^ Back to top
Can I apply for a telephone account online?
You can apply online for our telephone accounts if you're 18 or over, a UK resident and have a UK bank account that accepts direct debits. You can apply online for a sole or joint account - maximum of two account holders.
Call us on 0845 602 2828 to apply for a telephone account:
- Where there are more than two applicants
- Under a power of attorney
- On behalf of someone else (a beneficiary account)
- If you're a member of overseas forces (BFPO)
- If you're under 18 years of age
^ Back to top
What happens once I've applied for an account?
If you've applied online and provided an email address on your application form, here's what to expect:
- We'll send you an acknowledgement email confirming your application has been submitted, if you have given us your email address
- We'll also send a letter confirming that your Linked Account has been set-up
- A separate letter will be sent asking for a cheque for the full amount you'd like to invest. There will also be a confirmation slip or application form which all account holders must sign and return with any identification documents requested
- Once all required documents have been received, your cheque will be paid in to your account
- We'll send a welcome letter once your cheque has been paid in to your account
If you're a new telephone customer, a security tag letter will be sent to each account holder. This will hold a unique tag which you need to use to set up security. Once security has been set up on the account you can start to make transactions.
If you're an existing telephone customer, you can start making transactions on your account with your existing security details.
^ Back to top
Can I view and operate this account online?
You can only view internet savings accounts online. Even if you apply for a telephone account through our online application process, this account needs to be operated by phone.
^ Back to top
How do I set up security on my savings account?
If you don't already have another BM Savings account with security set up on it, a security tag will be sent to you automatically. If you forget your passwords, call us on 0845 602 2828 and we'll send you a new security tag.
Once you've received your security tag, follow these steps to set up your security:
- Call 0845 602 2828
- Select option 2 to set up security
- When requested by the agent, provide your security tag and mother's maiden name (do not state any personal or account details to the agent)
- Once the security tag has been accepted, you'll need to set up three security details -
- your password, memorable date and memorable place
- Your password should be between 5 and 12 characters. This should contain both letters and numbers but should not contain any punctuation marks
- Your memorable date (e.g. 24.12.2004) - but not your birthday
- Your memorable place (e.g. Buckingham Palace) - but not your address
It's important that you remember your password and security details, as it may result in a delay in accessing your funds if we need to reset your security.
^ Back to top
What if I forget my password?
If you forget your password, you can request a security tag by calling us on 0845 602 2828. The security tag will be posted to your registered address and will explain what you need to do next. Once security has been set up, you'll receive a confirmation letter.
^ Back to top
How can I change my Linked Account?
To change your Linked Account, call us on 0845 602 2828 (lines are open 8am-8pm, Monday to Saturday).
If you change your Linked Account, it will take 10 bank working days to set up your new Linked Account. During this time, you'll be unable to make any deposits into your account. You'll also be unable to make any withdrawals for 5 bank working days.
^ Back to top
What's the number for the automated telephone banking service?
The number for the automated telephone banking service is 0845 609 1970.
^ Back to top
What is the automated telephone banking service?
This service lets you manage your finances at a touch of a button, day and night. Simply enter your account number and date of birth and answer the security questions. With the service you can:
- Check your balance
- Request a tax certificate
- Transfer money to and from your Linked Account
The number for the automated telephone banking service is 0845 609 1970.
If you'd prefer to speak to a member of our BM Savings team, call 0845 602 2828 (lines are open 8am-8pm, Monday to Saturday).
Please note, if your account pays interest annually you can't request a tax certificate until after the anniversary of your first deposit.
^ Back to top
Can I make deposits or withdrawals by cheque?
We only accept the opening deposit by cheque. Further deposits need to be made by direct debit from your Linked Account.
^ Back to top
When will I receive a statement?
We'll send you a statement each year on the anniversary of the account opening date.
^ Back to top
How do I close my telephone account?
To close your telephone account, call us on 0845 602 2828 (the lines are open 8am-8pm, Monday to Saturday) and answer your security questions. We'll close your account and send the money to your Linked Account using BACS.
^ Back to top
Can I make transactions on my account without speaking to an agent?
Our automated telephone banking service lets you manage your finances at the touch of a button, day and night. Simply enter your account number and date of birth and answer the security questions. You can then make deposits and withdrawals, check your balance and check interest rates.
To use this service, call 0845 609 1970.
^ Back to top
