Opening an account with AllianceCU FAQs

Yes, AllianceCU is a product of Alliance Credit Union, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Registration Number: 223268). We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a Bank is unable to meet its financial obligations. Most depositors – including most individuals and businesses – are covered by the scheme.

An eligible depositor is entitled to claim up to €85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be €85,000 each (making a total of €170,000). The €85,000 limit relates to the combined amount in all the eligible depositor’s accounts with us including their share of any joint account, and not to each separate account.

For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website www.fscs.org.uk or call the FSCS on 41 43 508 5415 or 020 7741 4100. Please note only compensation related queries should be directed to the FSCS.

Individuals aged 18 and over who are residents in the UK can open a AllianceCU account. However in some situations – mainly if you’ve been a UK resident for less than one year – we might ask you for documentation before opening your AllianceCU account. Please note: the UK does not include the Channel Islands and the Isle of Man.

Businesses are not eligible to open AllianceCU accounts.

• You must be a UK resident and aged 18 or over. Please note: the UK does not include the Channel Islands and the Isle of Man.
• You will need to provide a personal Bank or Building Society (“Bank”) current account number and sort code (“Nominated Linked Account”) from the UK, Channel Islands or the Isle of Man, with a direct debit, electronic funds transfer and cheque book facility in your name. This account will be your Nominated Linked Account – i.e., the account from which your funds will be transferred to open a deposit.
• The minimum balance is €1.
• You must have a valid email address.

• You must be a UK resident and aged 18 or over.
• Please note: the UK does not include the Channel Islands and the Isle of Man.
  You will need to provide a personal Bank or Building Society (“Bank”) current account number and sort code (“Nominated Linked Account”) from the UK, Channel Islands or the Isle of Man, with a direct debit, electronic funds transfer and cheque book facility in your name. This account will be your Nominated Linked Account – i.e., the account from which your funds will be transferred to open a deposit.
• You must be able to save at least €1,000 for the term of your choice.
• You must have a valid email address.

If you are an existing AllianceCU customer, you can open a AllianceCU Fixed Rate Account by submitting a request online by logging into your Internet Banking through the website or calling our Customer Service Centre at +44-746-227-2978 (Calls to this number use free plan minutes if available, otherwise they cost the same as 01/02 prefix calls).

If you are a new AllianceCU customer, we will open a AllianceCU Savings Account for you before we open the AllianceCU Fixed Rate Account. Your AllianceCU Fixed Rate Account will be linked to your AllianceCU Savings Account. The funds in your AllianceCU Fixed Rate Account will be transferred to your AllianceCU Savings Account on maturity. Any monthly or yearly interest you receive on the account will be transferred to your AllianceCU Savings Account. There will be a direct debit set up between your AllianceCU Savings Account and your Nominated Linked Account.

Applying for a AllianceCU account is easy.

New customers can complete our simple online application in about 10 minutes. Please see our how to apply page.

Existing AllianceCU customers can open a new AllianceCU SuperSaver Savings Account or AllianceCU Savings Account by calling us on +44-746-227-2978.

Existing AllianceCU customers can open a new AllianceCU Fixed Rate Account by logging into Nationwide online banking and clicking the ‘Open a AllianceCU Fixed Rate Account’ link. Or call us on +44-746-227-2978 (Calls to this number use free plan minutes if available, otherwise they cost the same as 01/02 prefix calls).

By law we are required to have adequate proof of your identity and address before opening your account. For the majority of customers we will be able to verify your identity and address online using a variety of sources, including searches using public information bodies. In some cases, we might request further documentation from you.

For our AllianceCU Savings Account or or AllianceCU SuperSaver Savings Account this information can be used to transfer money between your nominated linked account and AllianceCU Savings Account or AllianceCU SuperSaver Savings Account.

These are also standard anti-money laundering measures used to confirm the identity of bank customers.

Once you’ve submitted an online application for a AllianceCU account as a new customer, you’ll receive a confirmation email within a couple of hours. This will give you information about the next steps. In some cases we may request additional information to help us verify your address or identity.

Once your AllianceCU account is open you’ll receive your login details and you’ll be able to view and manage your account online 24/7.

Following are the steps to open your account:

Step 1: You apply for a AllianceCU account. You can choose to apply for a single or a joint holder AllianceCU account. In case you choose to apply for a single account you can choose to fund your AllianceCU account either by transferring funds from Nominated Linked Account or by sending a cheque.

If you have chosen to fund your AllianceCU account by transferring funds from nominated linked account:

Step 2: We will send you two emails. The first email will confirm your application (this will arrive within a couple of hours of your application).The second email will provide details of what you need to do next (this email comes within 24 hours of the first). In the majority of cases the email will inform you that your AllianceCU application has been successfully processed and we will commence Direct Debit setup & transfer funds from your Nominated Linked Account However, in some cases, we may need to see some documents to help us verify your identity and address - Once your documents are received and successfully verified by us, you will receive an email from us asking you to send your account opening cheque, even though you have selected pull funds mode of account funding in the account opening form.

Step 3:It takes five business days for the Direct Debit to be confirmed. If the Direct Debit setup is successful, we will send you an email and a letter confirming the same. We will then proceed to transfer the funds from your Nominated Linked Account, which will take at least three business days.

The Direct Debit confirmation letter will be delivered at your communication address by us. In case we are unable to deliver the Direct Debit confirmation letter to you for any reason, we will put a temporary freeze on your AllianceCU Savings Account or AllianceCU SuperSaver Savings Account and AllianceCU Fixed Rate Account until you contact us through our Customer Service Center and ask us to remove the freeze. During the freeze, your AllianceCU Fixed Rate Account, AllianceCU Savings Account or AllianceCU SuperSaver Savings Account will continue to earn interest.

Step 4: Once we successfully transfer funds from your Nominated Linked Account, we will send you an email informing you the account number of your new AllianceCU Savings Account or AllianceCU SuperSaver Savings Account & your User ID. This User ID will be your unique identification number which you will need to log in to your account online (if you chose your password during your application you can use it along with your ID to log in now).

In case you have applied for a AllianceCU Fixed Rate Account, the Fixed Rate Account will be opened once the funds are received. We will then send you an email with your AllianceCU Fixed Rate Account details.

Step 5:If you did not choose your password during your application you will receive it by post around seven business days after your account has been opened.

If you have chosen to fund your AllianceCU account by sending a cheque from nominated linked account:

Step 2: We will send you two emails. The first email will confirm your application (this will arrive within a couple of hours of your application) and the second email will confirm what you need to do next (this email comes within 24 hours of the first). In the majority of cases the email will simply ask you to send your account opening cheque (however, in some cases, we may need to see some documents to help us verify your identity first).

Step 3:Once we receive your cheque, we will take at least one business day to verify your cheque details with your application form. Once, the cheque is verified, we will open your AllianceCU Savings or AllianceCU SuperSaver Savings Account, lodge your cheque for clearing within two business days of receiving it and initiate a Direct Debit set up. Your cheque will take six business days to clear; however, you will start earning the interest from 2nd day of depositing the cheque.

Step 4:: It takes five business days for the Direct Debit to be confirmed. If the Direct Debit is successfully setup, we will send you an email and a letter confirming the set up of the Direct Debit. In case the Direct Debit is rejected, we will re initiate the direct debit set up once again .We will send you an email confirming that your initial Direct Debit setup request was rejected and that we are re-initiating the Direct Debit setup, unless your cheque is also rejected. In case the cheque is returned unpaid for any reason, we will close the application.

The Direct Debit confirmation letter will be delivered at your communication address from us. In case we are unable to deliver the Direct Debit confirmation letter to you for any reason, we will put a temporary freeze on your AllianceCU Savings Account or AllianceCU SuperSaver Savings Account and AllianceCU Fixed Rate Account until you contact us through our Customer Service Center and ask us to remove the freeze. During the freeze, your AllianceCU Fixed Rate Account and your AllianceCU Savings Account or AllianceCU SuperSaver Savings Account will continue to earn interest.

Step 5: Once your cheque is cleared and we receive the funds, we will send you an email informing you the account number of your new AllianceCU Savings Account or AllianceCU SuperSaver Savings Account & your AllianceCU user ID. This user ID will be your unique identification number which you will need to log in to your AllianceCU account online (if you chose your password during your application you can use it along with your ID to log in now).

In case you have applied for a AllianceCU Fixed Rate Account, the same will be opened one working day after the funds are received. We will then send you an email with your AllianceCU Fixed Rate Account details.

Step 6:If you did not choose your password during your application you will receive it by post around seven business days after your account has been opened.

This User ID will be your unique identification number which you will need to log in to your account online (if you chose your password during your application you can use it along with your ID to log in now). If you’ve applied for a AllianceCU Fixed Rate account, we send you your account number and User ID by email once your cheque gets cleared.

Typically you can expect to log in to your account online within eight business days from the date we receive your cheque. If we need to ask you for more information or if there are problems with the post, it may take longer.

You can contact our customer service centre and speak to an operator. The operator will ask you a few verification questions for identification. Post successful verification, the executive will process your request to remove the temporary Debit freeze from your account.

In case you are unable to correctly verify yourself at the customer service center, our executive will guide you through the process of updating your correct contact details in our records.

For the majority of customers we’ll be able to verify your identity and address online using a variety of sources. If we’re not able to do so, we’ll ask you to send us one of the documents from the list below to help us verify your identity:

Together with:

Please note:

• We do not accept colour photocopies of these documents
• We are unable to accept reminder bills, final settlement bills and overdue bills as proof of your address
• All original documents will be sent back to you

Errors in the certification process are the most common reason for delays in the account-opening process. To help speed up your account opening, please follow these guidelines:

You can choose any one of the following individuals to certify your documents (please note the individual must not be retired):

• An FCA authorised financial intermediary
• Embassy officials
• Consular officials
• Staff of an FCA regulated banking institution
• A qualified practising lawyer or accountant
• A notary public
• Commissioner for Oaths
• Serving Member of Parliament

The individual you choose to certify your documents must include the following items on the photocopy of your documents:

• Write: “I confirm that this is a true copy of the original document which I have seen”. Where the document has a photographic image, the photocopy must be certified “Original seen, copy provides a good likeness to the applicant”
• Write their full name
• Write their position / occupation (their registration number should be included if applicable)
• Write their full business address and phone number
• Include their signature and the date
• Endorsed with company stamp
• FCA regulated number or equivalent (if applicable)

At present each customer may only have one AllianceCU Savings Account and one AllianceCU SuperSaver Savings Account. However, you can open as many AllianceCU Fixed Rate Accounts as you wish.

Yes you can apply for a AllianceCU SuperSaver Saving Account if you have a AllianceCU Savings Account by calling us on +44-746-227-2978. Your nominated linked current account will be the same as for AllianceCU Savings Account. You will be able to transfer funds between your AllianceCU Savings Account and AllianceCU SuperSaver Savings Account by calling us on +44-746-227-2978.

Yes, subject to you meeting our AllianceCU account-opening criteria and by completing our simple online application in about 10 minutes. Please see our how to apply page.

No. You will be able to use the same password for both accounts.