Treasury Tracker Account

Once your account is open and we have your initial deposit we will send you an information pack and operating instructions.

You can choose two banking options:

• By telephone — If you want to operate your account by telephone you can speak to a member of our helpful and friendly customer service staff on 0845 845 0829 (calls charged at local rates). This service is available from 8am until 9pm Monday to Friday — from 10am on Wednesdays.
• By post — Please write to us at: Scottish Widows Bank plc, PO Box 12757, 67 Morrison Street, Edinburgh EH3 8YJ. Once you have an identification number this should be included in all correspondence, so that we can deal with your request more efficiently.

After your initial deposit of at least £500, which can be a cheque from your organisation’s current account or a Clearing House Automated Paying System (CHAPS) payment, you can add money to your account by:

• A cheque drawn on your organisation’s existing bank or building society account.
• Regular or occasional Direct Debit payments into your account — to do this you must first complete the Direct Debit mandate included in the application form. Then all you have to do is telephone us and — provided cleared funds are available in your current account — we can collect the money by Direct Debit with no further action required from you. Regular monthly transfers can also be arranged via Direct Debit.
• Same day CHAPS (Bankers Clearing House) transfer. To arrange this:
  • Telephone our Customer Service Staff on 0845 845 0829 (calls charged at local rates) with the details, no later than 11.30am on the day you would like the money transferred. Please remember to tell our customer service staff the date and amount of the transfer before it occurs, so that we can add funds to your account.
  • Your bank will organise the transfer from your organisation’s account into our collection account. To do this you will need the following details:

Our collection account branch sort code:
83-06-08

Our collection account bank:
The Royal Bank of Scotland plc
36 St Andrew Square, Edinburgh

Our collection account name:
Scottish Widows Bank plc

Our collection account number:
00276343

Our reference:
Please quote your Scottish Widows Bank Account number as the reference for the transfer.

Please note that we can only accept deposits via the above methods. Transfers of money into your account via the bank money transmission system — such as bank giro credit or standing order — are not possible.

This is because there can be delays and identification difficulties associated with these methods that we have no control over.

If you want to transfer money from your Treasury Tracker Account to your organisation’s current account:

• You must instruct us to do so by telephone or post.
• The minimum withdrawal is £100.
• Transfers will be made free of charge, provided you give us two business days notice.
• Same day transfers by CHAPS on the day of instruction can be arranged — if the instruction is received by 2pm — and subject to an administration charge to cover our costs.

If you choose the 60 Day Notice option for your account you must notify us 60 days in advance if you want to make a withdrawal. Cleared funds will be transferred to your organisation’s bank or building society account 60 days after we receive your instruction.

With the Treasury Tracker Account interest is normally paid into your account annually or quarterly, on the first day of January, April, July and October. A monthly interest payment option is available for balances over £50,000.

Interest can be paid into your account without deduction for tax — subject to the appropriate documentation.

You will receive a printed statement within 10 business days of any interest being added to your account, or half yearly if interest is paid annually.

Yes, and this means:

• All signatories to the account are separately responsible for keeping to its terms. If any signatory does not keep to them, we can take action against the signatories either or both of you singly or together
• We may give any information about the account to any signatory (even if you choose that all signatories must sign instructions to us).
• If you choose to allow any signatory to authorise transactions on the account, any signatory will be able to withdraw any amount in the account (which may be without the other signatories knowledge). We will not be obliged to make any enquiries about the purpose of any transactions.
• The account cannot later be put into just one of the signatories names, unless all signatories agree.
• If there is a dispute between the signatories about the running of the account, we may require all signatories to authorise all transactions until you all agree how the account is to be run.

Instructions from signatories

As this is a telephone banking account, the option of more than one person to authorise all transactions on your account is not available. This is because it is not possible for more than one person to give an instruction at the same time on such a system.

The easiest way for you to deposit money in your account — on an occasional or regular basis — is via Direct Debit. The terms of the Direct Debit Guarantee are as follows:

• This Guarantee is offered by all banks and building societies that take part in the Direct Debit Scheme. The efficiency and security of the Scheme is monitored and protected by your own bank or building society.
• If the amounts to be paid or the payment dates change you will be told this 10 business days in advance — as agreed*.
• If an error is made by Scottish Widows Bank plc or your bank or building society, you are guaranteed a full and immediate refund from your branch of the amount paid.
• You can cancel a Direct Debit at any time by writing to your bank or building society. Please also send a copy of your letter to Scottish Widows Bank.

If the Direct Debit facility is not used over a 12 month period it may be cancelled by your bank or building society. If this happens you can download another Direct Debit mandate, which is attached to the application form. Alternatively you can call us on 0845 845 0829 (calls charged at local rates), 8am until 9pm Monday to Friday — Wednesdays from 10am.

*If you wish to change the amount to be paid or the payment dates we usually require only three business days notice — which replaces the standard 10 business day notice period. For your security and protection telephone instructions will normally be recorded.

The Treasury Tracker Account is very easy to operate — whether you choose to do it by phone or post. You can find full Terms and Conditions here.