We’ve covered some frequently asked questions about savings, but should you need any further information, please get in touch with your local branch.
What’s the current interest rate on my account? Is the rate fixed or variable?
Details of our savings products and closed issues can be found on our ‘Savings Rates‘ page. Alternatively, please call our teams for more information about your current interest rate/ product type on 01282 440500 or pop into branch.
What are your Savings Terms and Conditions?
You’ll find our Savings Terms and Conditions on our ‘Downloads‘ section.
When are branches open?
Please visit our ‘Find a Branch’ page to check the hours for your local branch.
How do I open an account?
To open an account with the Society, you will need to bring the following identification with you whether you are a new or existing member:
- a completed application form
- at least the minimum investment amount for the type of account
- proof of your identity and your address; and
- Proof of nominated bank account where monthly interest option is selected
- The proof of identity and proof of address information you’ll need to provide is listed on the ‘Proving your Identity’ PDF on our ‘Downloads‘ page.
Why do I need to provide identification?
We require you to provide identification to comply with Money Laundering Regulations.
I’m an existing customer do I need to provide identification?
In some instances, it may be necessary for an existing customer to provide identification. You may check whether identification will be required by contacting your local branch.
How do I set up a bank payment to my Marsden account?
Please inform your bank of the following details:
Sort Code: 60-94-95
Account number: Please quote the last eight digits of your ten digit Marsden account number. For example for account number 14-123456-07, the account number to be quoted would be 12345607.
How do I change my account address?
For branch based accounts, please visit your local branch with one document from list B of our identification requirements leaflet.
For postal accounts, please call us on 01282 440500 and we will arrange to post out the necessary forms to be signed and returned with one document from list A and one document from list B of our identification requirements leaflet.
Am I paying tax on my savings?
We pay all savings interest gross, which means no tax is deducted. Your tax treatment will depend on your individual circumstances and may be subject to change in the future. ISA interest is paid tax-free, which means that it is not subject to income tax.
Do I need to complete an R85 form for each account I hold with you?
Due to the Personal Allowance changes on 6 April 2016, R85 forms became obsolete from the start of the 2016/2017 tax year as interest is paid gross on all our savings accounts – ISA accounts pay interest tax-free. So there is no need to submit an R85 form to us.
If you have any savings income over your Personal Savings Allowance you will have to pay some tax on this. HMRC will normally collect the tax by changing your tax code.
What is a 975 Tax Certificate?
A 975 certificate (certificate of tax) shows the interest earned and tax paid on an account during a tax year (6th April – 5th April).
How do I request a 975 certificate?
A tax certificate can be requested by visiting your local branch.
Alternatively, please call us on 01282 440500, and we will post one out to you.