For most people it’s a good idea to have some money put aside for a rainy day. Putting some money away regularly is the best way of saving up for expensive things, like a holiday, car, or a wedding. It can also be a good way of making sure you have money to pay for emergencies such as needing to replace an expensive household item.
We make saving easy! You can open an account with as little as £1 and save as much or as little as you like, as often as you like, up to a maximum of £15000. Here are the ways you can save:
at the St Albans office or at any of our other customer centres.
(payable to “St Albans Community Bank” with your membership number on the back) by post or in person. We also accept cheques from other bodies/people made payable directly to the member.
with your bank/building society. Have Benefit Payments paid directly into your savings.
ask your employer if they have a scheme.
Withdrawing your money is also easy!
Withdrawal of some or all savings can be made by a member at any time. Although the rules provide a maximum period of 60 days, we aim to pay withdrawals by bank transfer within a few days (cheques take a little longer but usually within a week).
Cash withdrawals When the office is open you can normally withdraw up to £50 on demand, with a larger amount if prior arrangements have been made.
Other withdrawals We recommend that you sign in to the members’ area where you can view your balances and request a payment to your bank account. If you click on the Members Area button you can apply to access the members area if you have not already signed up. Alternatively please contact the office to arrange for either an electronic transfer to your bank or a cheque. We can also load your savings onto your Engage card. If you would like to apply for an Engage card (a prepaid debit card) then please contact the office for full details.