for savers

Setting up a savings account

So you want to be a saver? Let's get your money active

There are many different types of savings account, from cash ISAs to Childrens' Savings or Business Savings accounts and more.

If you want to make a savings account work for you, you will first need to make sure you are eligible to apply and then we'll need to verify your identity. For more information about how this process works, read on below:

 

Eligibility made easy

The Cambridge will accept new savings account applications from any customer living in the UK.

The UK is defined as:

England

Scotland

Wales

Northern Ireland

The Cambridge cannot accept savings applications from any Isles that are Crown Dependencies and as such are subject to a different tax regime. These include the Isle of Man and the Channel Isles.

 

Verifying your identity - the how and the why

Please refer to our Verifying your identity guide for further information. 

 

Your new savings account is open - what next? 

To really make the most of your Cambridge savings account we recommend that you set up a mobile number, nominated bank account, online access and of course download our Cambridge money app. By doing this you will have a great deal of flexibility when managing your account. Read on to find out how each of these elements can support you: 

Mobile number - Having a mobile number registered against your savings account allows you to complete transactions over the phone with the team who work in our Cambridge based Contact Centre. The mobile number is used to verify the payments being made keeping your hard earned savings safe and secure. 

Nominated bank account - Attaching a nominated bank account (your current account) to your Savings account allows you to move your savings to your current account easily and securely, you can then move your savings through whichever route best suits you i.e by calling us, sending a secure message over or popping into one of our locations.

Online Access - Viewing your accounts online will allow you to keep track and to keep motivated with your savings goals. Alongside viewing your transactions you can manage changes to your accounts directly or by utilising secure messages. 

Cambridge money app - Built for mobile first customers, the app allows you to manage your account simply and whilst on the move, with all the normal online functionality in a format best suited for your finger tips. 

If you'd like to see more about the different ways to manage your Cambridge accounts take a look at our video guides or call the team on 0345 601 3344.

 

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