Frequently Asked Questions

  1. How are my deposits protected?
  2. What should I do to make sure my telephone banking is secure?
  3. How do I switch money from my previous savings account to open an Anglo Irish Bank Personal Savings account?
  4. Am I entitled to receive tax-free interest on my account?
  5. Why do I need to provide so much identification documentation?
  6. How can I change the details of the account that I use to make electronic transfers to and from my Anglo Irish Bank Personal Savings account?
  7. Does the interest rate change? How does it affect my savings?
  8. How is interest calculated and when is it credited to my account?
  9. Do I need deposit or withdrawal slips to operate this account?
  10. Are there any bonus elements to these account?
  11. How can I change any of the original details supplied on my application form?
  12. Can I deposit a solicitor's cheque in my account?
  13. Can I set up a Power of Attorney or act as a third party for a depositor with Anglo Irish Bank?
  14. How can I contact you?

1. How are my deposits protected?

All UK deposits at Anglo Irish Bank benefit from protection under two deposit protection schemes; the Irish Deposit Protection Scheme and the UK Financial Services Compensation Scheme. Most banks regulated in the UK and Ireland are protected by either or both of these compensation schemes.

Our customers receive protection through the Irish Deposit Protection scheme up to €100,000 per individual depositor per bank.

Anglo Irish Bank Corporation plc is authorised by the Financial Regulator in Ireland and by the Financial Services Authority; regulated by the Financial Services Authority for the conduct of UK business. We also subscribe to the Banking Code and copies of the code are available on request, or from the BBA website. We are also members of both the Irish Deposit Protection Scheme and the UK Financial Services Compensation Scheme.

Irish Deposit Protection Scheme
Financial Services Compensation Scheme

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2.What should I do to make sure my telephone banking is secure?

Our telephone banking service is safe and secure, but you can take steps to ensure that no one gains access to your financial information.

If you phone us you will be asked to identify yourself using random characters from your memorable password. However if we phone you we will never ask you for your security details i.e. your memorable password. NEVER reveal this information to anyone who contacts you. Instead, please call our Personal Savings Team on
0845 455 22 22.

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3. How do I switch money from my previous savings account to open an Anglo Irish Bank Personal Savings account?

The first thing to do is contact your current bank and give them notice (if required) that you wish to make a withdrawal. Then, simply go to our Open an Easy Access Account or Open a 7 Day Notice Account page and enter your details.

If you have any further questions contact our Personal Savings Team.

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4. Am I entitled to receive tax-free interest on my account?

If you are a taxpayer, tax at the lower rate is already deducted from your interest. If your application is in a sole name, and you are exempt from paying tax on your interest, you must fully complete and return an Inland Revenue R85 form. If your application is in joint names, and you are both exempt from paying tax on your interest, you must each fully complete and return an individual Inland Revenue R85 form.

If your application is in joint names, but only one party is exempt from paying tax on your interest, we can pay part of your interest net and part gross, providing the exempt party has fully completed and returned an Inland Revenue R85 form.

If you have several accounts with us, you will need to complete an Inland Revenue R85 form for each account.

Inland Revenue R85 tax forms are available from the Inland Revenue website: http://www.inlandrevenue.gov.uk/menus/otherforms.htm or by phoning our Personal Savings Team on 0845 455 22 22.

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5. Why do I need to provide so much identification documentation?

The UK has strict codes of banking conduct to help prevent fraud and money laundering. We need the proofs of identity - that we ask you to provide so that we can confirm you are who you say you are and to comply with the legal requirements.
Proof of Identity - Easy Access Account

Proof of Identity - 7 Day Notice Account

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6. How can I change the details of the account that I use to make electronic transfers to and from my Anglo Irish Bank Personal Savings Account?

Simply inform us in writing of your new account details and supply us with an original statement from this account, dated within the last three months.

This account must be in the name of the Anglo Irish Bank Account holder.

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7. Does the interest rate change? How does it affect my savings?

The interest rate on these accounts is variable and may change in line with general market conditions.

We will tell you about any change to the interest rate within three business days by advertisement in two or more newspapers with national circulation and also on our website. You will also be advised of the rate change in Your annual statement.

We guarantee that the rate will be at least equal to the Bank of England base rate until 1st January 2011.

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8. How is interest calculated and when is it credited to my account?

Interest is calculated on a daily basis on the cleared balance in your account and the interest is paid to the account annually on 31 March or, if applicable, the next business day in England and Wales.

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9. Do I need deposit or withdrawal slips to operate this account?

Lodgement or withdrawal slips are not required to operate your account.

To make a Lodgement to your account, simply reference your account number on your personal cheque/draft when making Lodgements. Please use our Freepost address.

If the origin of any additional Lodgements is of a different method from that of your initial Lodgement, you will need to supply us with a recent original statement dated within the last three months from the account where these funds are held. (This applies to bankers/building society drafts or if the funds are being transferred by BACS/CHAPS/SWIFT payment). Please follow the steps under
Operating the Easy Access Account

Operating the 7 Day Notice Account

To make a withdrawal, please call a member of our Personal Savings Team on 0845 455 22 22. Withdrawals will be returned to you either by cheque or electronic funds transfer to the bank account from which your initial funds originated. We will confirm all transactions made on your account by post.

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10. Are there any bonus elements to these account?

No, there are no short-term bonus elements to these accounts. In fact, these accounts pay the same high rate of interest to both our new and existing customers to deliver ongoing customer value and loyalty.

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11. How can I change any of the original details supplied on my application form?

Simply inform us in writing and supply us with updated identification documentation. For example, should you change your residential address, please provide an original and recently dated document stating your new address.

Please note that for a change of address we will confirm this information after receipt, by writing to you at both your old and new address, to ensure the security of your account.

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12. Can I deposit a solicitor's cheque in my account?

Yes. We can accept a solicitor's cheque if we receive confirmation of the source of the funds, i.e. a letter from the solicitor stating the origin of these funds.

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13. Can I set up a Power of Attorney or act as a third party for a depositor with Anglo Irish Bank?

Yes. All we require is a fully certified form of ID, such as a passport or driving licence, and one address verification document. We also require a proof of address 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 an address verification document, 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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14. How can I contact you?

  • By telephone, you can talk to a member of our Personal Savings Team on
    0845 455 2222 (8am - 8pm, Monday - Friday, excluding bank holidays in England and Wales
  • By post, you can write to us at:
    Anglo Irish Bank,
    FREEPOST LON21430,
    London,
    EC2B 2QB.
    (Postage is not required).

If you have any other queries please contact our Personal Savings Team on
0845 455 2222 (8am - 8pm, Monday to Friday, excluding bank holidays in England and Wales)

We'll deal promptly with any of your service or transactional enquiries.