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Savings Instant Access account

Instant Access account

This is our standard account and all members aged 16 and over, even those who join to borrow, open one.

How it works:

  • Open with minimum of £1 (£8.50 on-line)
  • Straight forward savings deposit methods
  • Eligible for annual dividend.
  • Save up to £20,000, or £40,000 in a joint account (note this is across all your Somerset Savings and Loans accounts)

Ways to deposit into your savings:

  • Regular weekly, fortnightly, 4-weekly or monthly Direct Debit. Call us to arrange this.
  • Payroll deduction if your employer allows this
  • Standing Order. Once you join we can send you a Standing Order form.
  • One-off BACS transfers (e.g via online banking)
  • Debit card (up to a limit of £100)
  • PayPoint at a Post Office or retail outlet
  • By cheque. Send to our Portishead office or take into our Information Station office

Withdrawing your money:

  • Same-day withdrawals (if you contact us by 11am) to your nominated bank account
  • Available by telephone or through the members’ area of the website
  • You must maintain a minimum of £1 in the account to retain your membership
  • We can offer a pre-paid Visa card onto which your savings are loaded if you prefer not to have them paid into your bank account.

How to open an account:

  • You must join the credit union to open an account. See here.

    You also have the right to attend and vote at the Credit Union’s Annual General Meeting. Credit Unions are run by their members for their members and you have a voice.

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