Frequently Asked Questions
Here we have answered your most commonly asked questions about the Premier Cash Account. If we do not answer your question in this section please contact us at 0845 045 2626.
- Where is my Premier Cash Account held?
- Your funds are deposited with Anglo Irish Bank Corporation plc.
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- Who are Anglo Irish Bank?
- Anglo Irish Bank are one of the leading providers of high interest deposit accounts in the UK and Ireland. They provide a comprehensive range of Corporate Treasury Services and International Trade Services, Commercial Property Finance, Asset Finance and Personal Deposit accounts.
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- Who do I contact for service/transactional queries or to make a withdrawal from my Account?
- Call Anglo Irish Bank on 0845 045 2626 and we will promptly deal with any of your service or transactional enquiries. Our lines are open 8.00am - 8.00pm, Monday - Friday, excluding bank holidays in England and Wales.
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- Is there a Freepost address I can use for correspondence or when adding additional funds to my account?
- Yes, it is: PMAS Admin Centre
FREEPOST LON21430,
London,
EC2B 2QB.
- (Please note that postage stamps are not required when using this address)
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- Do I need deposit or withdrawal slips to operate this account?
- No, simply quote your account number on your personal cheque/draft when adding additional funds to your account. Please use the Freepost address stated in response to the question above. If the source of additional funds is different to your nominated account, please supply us with a recent original statement from the account where these funds are held. We will confirm all transactions made on your account by post.
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- Is there a bonus element to this account?
- No, there is no short-term bonus element to this account. In fact, the account pays the same high rate of interest to both new and existing customers to deliver great value for everyone.
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- When does the interest rate change and how does it affect my deposit?
- Your interest rate on this account is variable and may change in line with general market conditions. We guarantee that the rate will be at least equal to the Bank of England base rate until 1st January 2010.
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- How is interest calculated and when is it credited to my account?
- Interest is calculated on a daily basis on the cleared balance in the account and the interest is credited to the account annually on the 31st March or the next business day in England and Wales.
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- How do I change any of the original details supplied on my application form?
- Just inform us in writing and supply us with any updated documentation if any of the following apply:
- If you change your home address, send an original and recently dated document from the Identification List stating your new address. (We will confirm a change of address in writing to both your old and new address, to ensure the security of your account).
- If you change your nominated account details, send an original statement from this account, dated within the last three months. This account must be in the name of the account holder.
- To change any other information, call us to discuss documentation required.
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- Do I pay tax on my interest?
- Tax at the basic rate is automatically deducted from your interest by us. However, if you are entitled to tax free interest, you should complete and return an Inland Revenue R85 form, available by phoning 0845 045 2626 or from the Inland Revenue website: http://www.inlandrevenue.gov.uk/menus/otherforms.htm
- If you have a joint account and one person is entitled to tax free interest, that person should a complete and return to us an R85 form and we can then pay part of your interest net and part gross. If you are both entitled to tax free interest, you should complete and return an R85 form for each person
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- How can I change my nominated account details?
- Simply inform us in writing of your new nominated account details and supply us with an original statement from this account, dated within the last 3 months. This account must be in the name of the account holder.
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- Is the Bank regulated in the UK?
- Yes. Within the UK, the Bank is regulated by the Financial Services Authority (FSA) in respect of its UK business and in particular is authorised to receive deposits in the UK. The Bank is a member of the Financial Services Compensation Scheme and the Financial Ombudsman Service in the UK. In addition, the Bank is globally regulated by the Irish Financial Services Regulatory Authority as a European Authorised Institution.
- As stated above, Anglo Irish Bank is a member of the Financial Services Compensation Scheme in the UK. Payments under the scheme are limited to 100% of the first �35,000 of a depositor's total deposits with Anglo Irish Bank Corporation plc.
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- Can I set up a power of attorney or act as a 3rd party for a depositor with the Bank?
- Yes, and all we require from the attorney are fully certified forms of ID, such as a passport or driving licence, and address verification documents. We also require two forms of address verification for the account holder.
- Please also provide us with a certified copy of the power of attorney contract or trust deed that authorises you to act on behalf of the account holder.
- If the account holder is unable to provide address verification documents, we require an official letter from where the account holder lives, for example the nursing home or hospital, confirming how long they have lived there.
- The only circumstances in which a 3rd party can operate the account of an other person is where power of attorney has been granted and all the above documents have been provided to us.
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- Can I deposit a solicitor's cheque to my account?
- Yes, we can accept a solicitor�s cheque if we receive a written confirmation of the source of the funds from your solicitor.
- If you have any other queries please contact 0845 045 2626 between 8am - 8pm, Monday to Friday, excluding bank holidays in England and Wales.
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