Cumberland Building Society current account(s)

will-in-estoril
will-in-estoril Posts: 850 Forumite
edited 28 June 2009 at 10:13AM in Budgeting & bank accounts
Look(s) to be spot on for those who are lucky enough to live, or to have lived, in their operating area.

http://www.cumberland.co.uk/current-accounts

They don't charge at all for cash withdrawals or purchases anywhere in the world, according to their huge billboard on the way into Preston.
RIP independent MSE.
Died 1st June 2012

Comments

  • 7sefton
    7sefton Posts: 634 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Their current account systems are provided by the Co-op Bank, so debit card transactions take a frustrating amount of time to appear on the 'available balance'. Small price to pay for free foreign usage thougt I suppose...
  • scott_lithgows
    scott_lithgows Posts: 1,427 Forumite
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    Not allowed to join,Greenock,s too far away from Dumfries.
    Join if you can,support your local Building Society not Australian or Spanish banks.
    I have a deep burning indifference
  • realaledrinker
    realaledrinker Posts: 1,661 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker I've been Money Tipped!
    7sefton wrote: »
    Their current account systems are provided by the Co-op Bank,

    Wishful thinking. Co-op do not provide white label banking except to a number of credit unions.
    Ethical moneysaver
  • EarthBoy
    EarthBoy Posts: 3,183 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    7sefton wrote: »
    Their current account systems are provided by the Co-op Bank, ....

    Their sort code looks like a Royal Bank of Scotland one to me: 16 52 21
  • Hazzanet
    Hazzanet Posts: 1,723 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Wishful thinking. Co-op do not provide white label banking except to a number of credit unions.

    Norwich and Peterborough B/S have the sort code 08-60-81 which is in the Co-op's range, and the cheque numbering sequence (cheque books are not consecutive, so my last cheque book started with the first cheque being 505976 and my current cheque book starts with 002761) also matches the way that the Co-op do things.

    I believe that Norwich and Peterborough are an 'agency bank' using the Co-op's systems.

    That said, 16-xx-xx is in the Royal Bank of Scotland's range.
    4358
  • realaledrinker
    realaledrinker Posts: 1,661 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker I've been Money Tipped!
    Hazzanet wrote: »
    Norwich and Peterborough B/S have the sort code 08-60-81 which is in the Co-op's range.

    Correct; they act as the Clearing Bank for a number of other banks which are not members of APACS - Citibank, MBNA, B&B, Chelsea BS, N&P & others.

    That's different to 'hosting' a banking system like the Cumberland's.
    Ethical moneysaver
  • 7sefton
    7sefton Posts: 634 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Out of interest, what's the difference between being an agency bank and a hosting bank for another institution? I.e. Cumberland runs a full service current account like N&P, yet you seem to suggest the two are different.

    On a slightly similar note, I rung Nationwide today to ask for details in order for someone in Australia to transfer money to my current account. The lady on the phone gave me a 'swift intermediary' bank code, saying that NW's clearing bank is HSBC... but I thought NW was the only BS that actually cleared it's own cheques?! Confusing.
  • realaledrinker
    realaledrinker Posts: 1,661 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker I've been Money Tipped!
    Agency Bank - Co-op 'sponsor' and are effectively liable* for the clearing net debts for certain banks and building socs who are not members of APACS. Co-op have nothing to do with their banking systems but their net settlement liability with the Bank of England (for BACS, FP, cheques) is settled via the Co-op at the end of each day.

    Hosting - think RBS hosting tesco's systems.



    *Hence it was squeeky bum time in Manchester when there was the run on Northern Rock
    Ethical moneysaver
  • 7sefton
    7sefton Posts: 634 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker

    *Hence it was squeeky bum time in Manchester when there was the run on Northern Rock

    LOL, I can imagine
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