How do I pay In - Recognise Bank – Production

Sector: Retail/Industrial/Residential Location: South Amount: £950,000 Product: Owner Occupied Property Loan The Client: A successful family business supplying…

How do I pay in

You can make deposits into your Recognise Savings Account by electronic transfer from either:

  • Your Nominated Bank Account (this is the bank, building society or online account in your name that you told us you wanted to receive withdrawals into when you applied for your Recognise Savings Account), or
  • Another one of your Recognise Savings Accounts (where eligible)

It is important that the payment instructions you provide are accurate and that you use the following information when making the transfer from your Nominated Bank Account to your Recognise Savings Account.

Sort Code 04-06-51
Account Number 00000011
Beneficiary Recognise Bank
Reference For your Initial Deposit you can use: Application Reference Number* and your Surname.
e.g. 954996047 SMITH.
For all subsequent deposits, you should use your 7 Digit Account Number** and your Surname. e.g. 1234567 SMITH
Account Type Business

* Your Application Reference Number can be found in the email that we sent to you after you completed your account opening application.

** Your Account Number is present on your Personal Credentials which can be found in your secure message inbox or in your account summary page when you log into our Secure Online System.

This is the first deposit you make into your account, this can be done immediately after your account has been opened and before we’ve given you, your User ID to log into our Secure Online System. You can use your Application Reference Number together with your surname to make your first deposit. You must make this Initial Deposit within 30 days of applying for your Recognise Savings Account. Unfortunately, after this period, if we haven’t received your Initial Deposit, we may assume that you no longer need your Recognise Savings Account and we will proceed to close the account.

If you did not make your Initial Deposit within 30 days of opening your Fixed Rate Account, we have not closed it and you proceed to make your Initial Deposit; if the interest rate has decreased since you originally applied for the account, we may apply the lower rate to your Recognise Savings Account (please note this does not apply to Notice Accounts).

At the end of your successful online application we’ll present you with a confirmation page, which contains your Application Reference Number. We’ll also email you your Application Reference Number shortly after opening your account.

You can find your 7 Digit Account Number in your Welcome Pack in your secure message inbox and on the account summary page when you log into our Secure Online System.

In order to help us make and receive payments to and from your Recognise Savings Account with your bank, building society or online account, we need to use a clearing  bank. In the UK, a clearing bank is one that can exchange payments between two separate banks or customers. We use ClearBank as our clearing bank to help us make and receive payments to and from your Recognise Savings Account. This means that the ClearBank name may show up when making a payment into your Recognise Savings Account.

Confirmation of Payee is a new way of giving customers (both personal and business) greater assurance that they are sending payments to the intended recipient, helping them to avoid making accidental, misdirected payments to the wrong account holder, as well as providing another layer of protection in the fight against fraud and scams. Further information can be found on the UK Finance website.

Currently, Barclays, HSBC including First Direct, Lloyds Banking Group, Nationwide Building Society, Royal Bank of Scotland Group and Santander UK participate in the scheme. A number of additional banking providers and institutions are expected to introduce Confirmation of Payee at a later date.   

Because ClearBank is yet to join the scheme (it is expected to join soon), you may get a warning message from your bank, telling you that the payment details you have given them for your Recognise Savings Account could not be verified or matched. 

Please do not worry about this as it is an additional security check that your bank or building society has set up for you and it is safe for you to confirm and continue with the payment to fund your new Recognise Savings Account, as long as you have entered the correct payment instructions.

Guidance & Information

Literature & Guides

All you need to know about our savings products

Protecting your savings

FSCS protection and keeping your money safe

A reminder of our interest rates

View all of our products and interest rates on one page

Important notices

Changes to our savings accounts interest rates, terms and conditions and additional information on frauds and scams

Frequently asked questions

Commonly asked questions and answers relating to our savings products