Withdrawing monies from Society’s savings accounts/protecting yourself from fraud
The Society would like to remind customers that they are now able to make an electronic payment from their Swansea Building Society savings account to a nominated bank account in their own name without charge, subject to a maximum number of one payment made per customer per working day.*
Customers must first register a maximum of one nominated bank account per customer and the bank account nominated must be in the name of the Society savings account holder(s). An up to date bank statement detailing the nominated bank account is required before the nominated bank account can be registered to receive payments.
Please note that savings customers are unable to make payments to a third party from their SBS savings account, either via an electronic payment or a counter cheque from the Society. However, once the customer transfers monies to a nominated bank account that allows third party payments to be made by another financial institution, they can make a third-party payment that way instead.
To register for the nominated bank account service, please click on the following to view the ‘Nominated Bank Account Form’ which needs to be completed, printed off and returned to the Society along with a copy of the bank statement which details the nominated bank account. There are a choice of ways to complete the registration process which are as follows:
1 calling into one of our branch offices,
2 by post to your nearest branch office, or
3 by e-mail to email@example.com.
All bank statements received will be returned by post if received that way. If you are unable to complete and return the nominated bank account form/bank statement via any of the three ways described, please call your local branch office to discuss how we can assist.
* For those customers who are a signatory to a Trust account, you are unable to use this facility unless the nominated bank account is in the name of the Trust and cannot be in the name of the Trustee. For those customers who are a signatory to a Child’s account, you are able to set up this facility to send monies to a bank account in the name of the signatory where the account mandate allows this.
Please remember that payments into your Swansea Building Society savings account(s) will not be affected by this and third-party payments can continue to be paid into your Swansea Building Society savings account(s) from another bank or building society account held by a third party elsewhere.
Once the nominated bank account service has been set up, there are a number of ways you can request a withdrawal which are as follows:
1 by post enclosing a signed letter detailing the withdrawal required,
2 by e-mail detailing the withdrawal required,
3 by visiting one of our branch offices to request the withdrawal, or
4 by telephoning one of our branch offices to make the withdrawal (you will need to be identified by one of our staff members if you choose this way).
Details and opening times of our branches can be found below.
If you have any questions regarding the above, please either call your local branch office or e-mail us at firstname.lastname@example.org.
Protecting yourself against Fraud
Criminals use exceptional circumstances like the current Coronavirus situation as a chance to pose as employees of a genuine organisation, such as building society/bank staff and police officers and target you for fraud scams. Criminals pretend to be from your building society, bank or the police and claim they are dealing with Coronavirus related issues that require you to respond by paying money or providing personal information that will allow them to access your account. They often use pressure tactics to stop you thinking about want they want you to do for them.
To be clear, a bank or Building Society will never:
- Ask you to disclose your PIN number or other passwords for your accounts
- Encourage you to move funds from your own account into a different “safe” account
- Encourage you to order and pay for UK cash via the phone or internet.
- Charge up front fees for repayment holidays
- Make home visits to collect mortgage arrears on your doorstep
- Demand an immediate payment of mortgage arrears over the phone
- Demand payment of mortgage arrears via email providing you with a link through which to make payments. Individuals who approach you saying that they are building society employees and who pressurise you in the ways outlined above are criminals.