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Savings Business savings

Business savings

We offer a Business Savings Account if you are a charity, sole trader, partnership, a community organisation or a limited company.

How it works:

  • Open with £1 and save up to £20,000

  • Straightforward deposit methods

  • Eligible for annual dividend

  • Operated by at least two nominated signatories from your organisation

  • You get a vote at the Annual General Meeting, normally held each February

  • Find our Corporate Member Terms & Conditions here Click to DownloadDownload Corporate Terms (324.4kb)

How to deposit into your savings:

  • By regular weekly, fortnightly, 4-weekly or monthly Direct Debit. Call us to arrange this

  • By regular Standing Order. Once you join we can send you a Standing Order form

  • By one-off BACS transfers

  • By debit card (up to a limit of £100)

  • By cheque. Send to our Portishead office or take into our Information Station office.

How to open an account:

  • Complete a Corporate Member Application Click to DownloadDownload Corporate membership form (417.9kb)

  • Send it to our Portishead office

  • We will carry out electronic ID checks on the nominated signatories (this is not a credit check and won’t leave a footprint)

  • We will contact you to arrange a first payment which will include a joining fee of £4, and then any regular savings schedules after that

Withdrawing your money:

  • Same day payments to your nominated bank account if you contact us before 11am. Next day payments if you contact us after 11am

  • At least two of the signatories will need to contact us to arrange withdrawals

Call us:
  • Tel.
  • 01275 390650
Opening Hours
  • Mon - Fri
  • 9.30am - 4.30pm
Visit us:
  • Thu
  • 9.30am - 12.30pm / 1.30pm - 4.30pm
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Somerset Savings & Loans is authorised by the Prudential Regulation Authority & regulated by the Financial Conduct Authority & the Prudential
Regulation Authority. FCA & PRA FRN: 230768