How do I get my savings out?
Fill in form E the Share Withdrawal Form, which is available from collection points or from the office. When the form is completed, it should be handed in at a collection point, or posted to the office.
How much can I take out?
How much you can take out depends on how much you have saved and if you have any outstanding loans. You must leave at least £1 in your account at all times, or we will have to close your account.
If you have an outstanding loan, you must leave in your account at least one third the outstanding balance of the loan.
If you are behind on your loan repayments you may not be able to take out any money. If this happens to you, come and talk to us and we will see how we can help.
How long will it take to get my money?
If you are withdrawing less than £50, are applying for the share withdrawal at a collection point, and you have your membership card with you, payment will take up to 4 working days.
To reduce fraud, for larger amounts, or if you do not have your membership card with you, payment should take less than 10 working days (including time in the post, or time transferring money if you choose payment by direct bank transfer).
How will I get my money?
Withdrawal requests are normally dealt with the day they are received in the office.
How long it takes to receive your money depends on the method you choose to receive it.
| Method of receiving money |
Normal timescale |
Cheque payable to you |
Posted by 1st class post within 2 working days |
Cheque payable to someone else |
Transfer direct to your bank account |
Leaves our bank account within 3 working days |
Cheque made out to cash (cashed free at our nominated banks) |
Available from your chosen Collection Point at the next opening time after 2 working days (or at the office by appointment) |
For security reasons, you will never be paid by cash.
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