Cumberland Building Society current account(s)

will-in-estoril

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.

7sefton

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

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.

realaledrinker

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.

EarthBoy

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

realaledrinker wrote: »

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.

realaledrinker

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.

7sefton

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

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

7sefton

realaledrinker wrote: »

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

LOL, I can imagine