Frequently asked questions

To open a Vida Savings account, you need to be aged 18 or over, a UK resident for tax purposes, and have a UK bank account in your name. Vida Savings accounts are for personal use only.

You'll need the sort code and account number of your personal UK bank or building society account to register as your nominated bank account, and a personal email address. If applying for an ISA, you'll also need your National Insurance Number.

Yes, you can have up to two account holders per account, except if your account is an ISA.

For joint accounts, we assume you both have an equal share of the funds and these are jointly held in the account. Each account holder can give instructions to us, unless you advise of a dispute on the account. To advise us of this, please contact us.

Once you have reviewed our available products, read our Terms and Conditions and are ready to apply, click "Apply Now" to begin your application.

Please be aware that we do not allow applications to be made over the phone or via post.

If you require help with the application, please contact us.

We will try to electronically verify your information but may also need to ask you for additional documentary evidence.

If we need further information from you, you should have been sent an email titled "We need a little more information to complete your application." This outlines the documentation we require and next steps.

Please see our list of acceptable identity documents.

If you require help providing these items, please contact us.

Yes, you can have multiple savings accounts with us, subject to the maximum customer balance restrictions and Terms and Conditions of the account(s). Only one account can be opened for each customer, for each issue (and the issue number will be stated on the Special Conditions if applicable).

As an existing customer, the application process for additional products is simple:

Step 1 - Log in to your account

Log in by clicking the "login" button on the top right of the toolbar. You'll need your User ID, password, and memorable details.

Step 2 - Select "New Account" from the toolbar

Here, you'll be shown our current range of savings accounts. Select "Find out More" to see further details about each account.

Step 3 - Select an "Account"

Once you know what account you wish to open, select "Apply Now".

Step 4 - Make an "Application"

Follow the steps to complete the shorter application. This involves opening and reading the Vida Savings Terms and Conditions and Product Special Conditions.

A Nominated Bank Account is the account that you will use to pay money into your Vida savings account, and also the account that we will return your money to when you make a withdrawal.

You can only transfer money to and from your Vida Savings Account through your Nominated Bank Account and you can only have one Nominated Bank Account across all the savings accounts that you hold with us 

Your Nominated Bank Account must be a UK bank account in your full name, and it must be capable of sending and receiving Electronic Transfers.

You'll be asked to assign your Nominated Bank Account to your Vida Savings account when you apply. You can change your Nominated Bank Account, subject to your new Nominated Bank Account meeting the above criteria. See "How do I change my Nominated Bank Account?" for further details.

Nominated Bank Account for Joint Savings Accounts

If you have a joint savings account, your Nominated Bank Account can either be:

• a sole account in the name of one of the joint savings account holders, or
• a joint bank account in the names of both joint savings account holders.

If your Savings account is in joint names and your Nominated Bank Account is in one of your names, only the person named on the Nominated Bank Account will be able to transfer money from the Account.

Once your account is up and running, we'll post you a letter containing an authentication code; this should arrive within a few days.

When you receive that code, please complete the below steps to authenticate your nominated bank account:

Step 1 - Log in to your account

Log in by clicking on the "login" button on the top right-hand of the toolbar. You'll need your User ID, password, and memorable details.

Step 2 - Select "Authenticate your Nominated Bank Account"

Once you successfully log in and get to the Account Summary page, you’ll see a banner at the top of the page titled "Authenticate your Nominated Bank Account."

Step 3 - Enter your "Authentication code"

Enter the code in the letter we have sent you and select "Complete verification."

Step 4 – Confirmation that your nominated account has been set up

Once your nominated account has been authenticated, you can make withdrawals or payments via this account. 

For your security, we will not permit withdrawals into an account that you are not named on, and which hasn't been authenticated by you.

If you suspect any fraudulent activity on your Vida Savings account(s), then please contact us as soon as possible, and we can look into this for you. 

No, you can only have one nominated account set up at a time. Your nominated bank account will then be used for transactions relating to all savings accounts that you have with Vida Savings.

If you need to change your nominated bank account, you can make this request securely through your online account:

Step 1 - Log in to your account

Log in by clicking the "login" button on the top right-hand of the toolbar. You'll need your User ID, password and memorable details.

Step 2 - Select "Change Details" from the toolbar

Here, all your existing account details will be displayed, including your current nominated bank account details.

Step 3 - Select "Change Nominated Account"

You will then be required to enter the account details of your new nominated account.

Step 4 - Review the email "Your request to change the nominated account"

This will contain confirmation of your request and outline the next steps required to authenticate your new nominated account. See "How do I authenticate my nominated bank account"  for further details.

If you do not receive your authentication code within 5 business days, please contact us.

You need to make an initial deposit within 21 days of applying for your new account. If it’s longer than 21 days since you applied for your account, please contact us.

Payments into your account can be made by electronic transfer from your nominated bank account, or by transferring money from another Vida Savings account. You do not need to wait to authenticate your nominated bank account to deposit into your account.

You’ll need to provide the following details to make a transfer:

• Account Number: 63246221
• Sort Code: 203253
• Payee / Beneficiary: Your name
• Payment reference number: Your Vida Savings application number or the 13-digit account number which is set out in your welcome letter

Please note that it is important to check your payment reference number as it may delay your deposit if an incorrect reference is entered.

If your Vida account allows for withdrawals and additional deposits, you can transfer your savings between accounts. Simply log in, select the account you wish to transfer from, and click ‘Move Money’.

Confirmation of Payee (CoP) is a service which checks that the name on a bank account matches the details entered when an electronic payment is being sent. The purpose of the service is to help reduce misdirected payments and provide greater assurance that payments are being sent, and collected from, the intended account holder.

Vida Savings also uses the service to ensure that its Savings customers can only deposit their own money into their Savings accounts.

The service is provided by Pay.UK who provide the infrastructure for electronic payments in the UK. Further information on the Confirmation of Payee scheme is available on the Pay.UK website at https://www.wearepay.uk/what-we-do/overlay-services/confirmation-of-payee/faqs/

A deposit may be rejected for several reasons, most commonly because the money hasn't come from your nominated bank account.

When we have processed the payment, we will send you an email informing you of the reason for the rejection. The money that can't be processed will be returned to the bank account from which it came.  Please be aware that it can take up to three business days for the payment to reach your account.

No, we only accept electronic transfers from your nominated bank account. This can be via Faster Payments or CHAPs.

If you pay money in electronically from a non-Vida account, how long it takes for a payment to reach us will depend on who your nominated bank account is held with. If we receive the payment by 2pm it will be deposited into your account on the same day, if we receive the payment after this it will be deposited the next day.

If you pay money in electronically from another Vida account, it will be deposited into your account immediately, as long as you request the transfer by 5pm. If you request the transfer after 5pm, or on a non-business day, it will be deposited the next business day.

Once the deposit is processed, we'll let you know you by email and SMS.

The Special Conditions will tell you if you’re able to make early withdrawals on your account. You can choose to make a withdrawal back to your nominated bank account, or you can transfer to another Vida Savings Account that you hold with us, subject to the terms of that Account.

To make a withdrawal from your Vida Savings account to your nominated bank account:

Step 1 - Log in to your account

Log in by clicking the "Login" button on the top right-hand of the toolbar. You'll need your User ID, password, and memorable details.

Step 2 - Select "Account Options"

Once you log in to the Account Summary page, you’ll see ‘Open Vida Savings accounts’; select "Account Options" next to the account you want to withdraw funds from, and this will show a drop-down.

Step 3 - Select "Move Money"

Enter the account you want the funds transferred to, confirm the amount you wish to transfer and state the date you want to transfer OR if you want the transfer to be set up regularly.

Step 4 - Enter your "Password"

To authorise the transfer, enter your password and select "Confirm". You can now see the withdrawal as pending in your ‘Pending Transactions’.

If we receive your withdrawal request by 2pm on a business day, we’ll send the money to your Nominated Bank Account on the same day. If we receive your withdrawal request after 2pm, or on a non-business day, we’ll send the money to that account on the next business day. 

If you’re making a transfer to another account you hold with us, we’ll send the money to that account immediately, as long as you request the transfer by 5pm on a business day. If you request the transfer after 5pm, or on a non-business day, it will be transferred the next business day.

If you have arranged for a transaction that has yet to be processed, you can cancel this request online:

Step 1 - Log in to your account

Log in by clicking on the "Login" button on the top right-hand of the toolbar. You'll need your User ID, password, and memorable details.

Step 2 - Select "Account Options"

Once you log in to the Account Summary page, you’ll see 'Open Vida Savings accounts’; select "Account Options" next to the account you want to withdraw funds from, and this will show the drop-down.

Step 3 - Select "Statement"

This will take you to the Account Statement page; scroll to the bottom of this page to see your ‘Pending Transactions’.

Step 4 - Select "View" against the Pending transaction

To authorise the cancellation of the transaction, enter your password and select "Delete."

We use Barclays to process our payments, so all deposits into your Vida Savings account must be made using the details shown below. If your bank asks you whether the payee or beneficiary is an individual or business account, please choose ‘individual account’

• Account Number: 63246221
• Sort Code: 203253
• Payee / Beneficiary: Your name.
• Payment reference number: Your Vida Savings application number or the 13-digit account number which is set out in your welcome letter.

Please note that it is important to check your payment reference number as it may delay your deposit if an incorrect reference is entered.

Log in by clicking on the "Login" button on the top right-hand of the toolbar. You'll then be asked to enter the following:

• Your User ID - this was sent to you in your Welcome Email, or you may have personalised this to something more memorable
• Your password - this was set by you when you applied for your savings account, you may have updated it since
• Your memorable details – you'll be asked to provide certain characters from one of the three questions you selected when you applied for your savings account

If you are struggling to access your account, please contact us. You can also see "I've forgotten my password, User ID " for more information.

If you’ve forgotten your password, click "Reset your Password" on the login page. You’ll need to enter your User ID and the email address linked to your account. We’ll send you an email with a secure link. After clicking the link, you'll be prompted to enter your User ID and the last 4 digits of your nominated bank account. Once verified, you can set a new password.

If you’ve forgotten your User ID, select "Forgotten your User ID?" on the login page. You’ll need to provide your surname, memorable details (set when you opened your savings account), and the email address linked to your account. Once we verify your information, we’ll send a reminder of your User ID via email.

If you've forgotten your memorable details or have trouble resetting your password or User ID, please contact us.

We do have a handy Vida Savings mobile app which you’re able to use whether you're on the go or at home. You can download the app at:

• Apple App Store (for iOS devices)
• Google Play Store (for Android devices)

Find out more about our mobile app.

You can view your balance by logging in to your online account. See "How do I log in?".

Once successfully logged in, you’ll see a summary of each Vida Savings account on the Account Summary page. The information displayed will include your account number, balance, and interest rate.

To view or download your monthly statements:

Step 1 - Log in to your account

Log in by clicking on the "Login" button on the top right-hand of the toolbar. You'll need your User ID, password, and memorable details.

Step 2 - Select "Interest Statement" or "Monthly Statement"

Once you log in to the Account Summary page, you’ll see a list of your "Savings Accounts". A range of options will be displayed next to each account. Select "Interest Statement" or "Monthly Statement" depending on which you want to see.

Selecting this will take you to the Account Statement page; from here, you can see a mini-statement or create a custom statement between two dates of your choice.

Step 3 – To view your "Interest Statement" or "Monthly Statement"

On the Monthly Statements page, you can select "View Statement" against the month you want to see. From here you can download or print the statement.

If you close your Vida Savings account, we recommend you download or print any statements you wish to save, as your online account will only remain visible for 12 months.

When your Vida Savings account is open, we'll email you your User ID; this is unique to you and is a combination of letters and numbers; as we appreciate that it isn't always easy for you to remember, you can personalise this if you wish:

Step 1 - Log in to your account

Log in by clicking the "Login" button on the top right-hand of the toolbar. You'll need your User ID, password, and memorable details.

Step 2 - Select "Change Details"

After you’ve selected "Change Details," you'll see all your existing account details, including your Security Details.

Step 3 - Select "Personalise my User ID"

On the "Personalise your User ID" page, you'll be asked to enter your new User ID; this needs to be a combination of letters and numbers between 8 and 20 characters.

Step 4 - Enter your "Password"

To authorise the change to your User ID, enter your password and select "Save User ID," this will update your User ID to the one you choose; you'll need to use this next time you log in to your online account.

You can only personalise your User ID once online. If you wish to change this again, please contact us.

When logging into your online account, please go to "Change Details" in the main toolbar. From here, you'll be able to update the following instantly online: Address, Contact Details, Email Address, Security details (Password/Memorable Details), User ID, Nominated Account, and Marketing Preferences.  

If you have had a change of name or wish to add another person to your savings account, we'll need more information from you. The "Change Name" and "Add Account Holder" sections will provide you with what's required and the link to the form you need to complete and send back to us. If your email address has changed, please could you update us as this is one of main the ways we will usually contact you.

If you need help making a change to your account, please contact us. If you’re already a customer, you can send us a secure message through the customer portal.

You can use Secure Messaging 24 hours a day to contact us about any queries you have about your account. We'll review any messages during our business hours and send you a response. When a response is sent back via Secure Messaging, you'll receive an email alert asking you to log in to view it.

Keep track of your savings targets by creating online goals:

Step 1 - Log in to your account

Log in by clicking the "Login" button on the top right-hand of the toolbar. You'll need your User ID, password, and memorable details. 

Step 2 - Select "New Savings Goal"

On the Account Summary page, the "Your Savings Goals" section displays any current goals you have. 

Step 3 - Set up your Savings Goal

You can name your goal by selecting one of the drop downs or creating a bespoke name, confirming how much you want to save and by when, or by how much you'd like to save each month. 

Step 4 - Monitor your Savings Goal

Once you set your goal, we'll track your progress to your target and display this back to you. 

We know life is not always a straight line, so if your savings goals change, you can edit them in the "Your Savings Goals" section on the "Account Summary" page.

Please refer to your product Special Conditions for details on the terms and conditions associated with closure on your account.

Fixed Rate Bonds can't be closed before the account matures.

We will contact you a minimum of 21 days before your fixed rate is due to end (the maturity date) to let you know that you can log in and view details of your maturity options.

You then have up to 48 hours before the maturity date to confirm what you wish to do and provide your instructions to us.

You'll have the option to transfer your money to an existing Vida Savings account (if the product permits additional deposits), open a new Vida Savings account, withdraw the money to your nominated bank account, or any combination of these.

If you choose to withdraw your money at maturity, your funds will be transferred along with any accrued interest to your nominated bank account the same day if you withdraw on a business day, or otherwise the next business day.

If we do not receive instructions on what you wish to do with your savings 48 hours prior to the maturity date, we'll move your savings into an Easy Access Account, or an Easy Access ISA (if your maturing funds are held in an ISA), the next day. By letting us know about your maturity choice in advance, you can choose what you want to do with your savings at a time that’s convenient to you.

All Vida Savings products are only available online; this includes the application and management of your account, but this doesn't mean you are on your own; you can call our Customer Service team on 0345 6460 460 or visit our Contact Us page for alternative ways to contact us. If you’re already a customer, you can also request support through secure message via our customer portal.

If you need to receive your communications from us in large print, braille or audio, we can arrange this for you. To request this, please call our Customer Service team at 0345 6460 460 or visit our Contact Us page for alternative ways to contact us.

We appreciate that this is a difficult time for you and your loved ones. To inform us of the death of an account holder, please call our Customer Service team at 0345 6460 460. Our team are here to help.

Unfortunately, we are not able to disclose any account-specific information, i.e., account balance, until we receive the original death certificate (or official copy) through the post*. To post this to us along with any other documentation needed, the address is: Freepost VIDA SAVINGS.

There is no need for a stamp; however, when you’re sending original documents to us, this is at your own risk, so to help minimise this risk, we recommend you send any original documents to us by recorded delivery.

*When posting the original documents to us, please let us know the address you would like these returned to.

In the event of the death of a joint account holder, once we have been notified and registered the death on the account, the account will automatically transfer into the sole name of the surviving account holder. See "How can I notify you of the death of an account holder?" for further details.

If your circumstances have changed since opening your savings account and you now have a Power of Attorney in place, you can register this by completing the "Power of Attorney Application" form and returning this to us with the following documents:  

• Proof of residency for the attorney
• Proof of identity for the attorney
• The Power of Attorney document or the Receivership or the Deputy Order (as appropriate). We can also accept an LPA Access Code if you can provide this so we can view it online.

To post this to us the address is:

Freepost VIDA SAVINGS

There is no need for a stamp; however, when you're sending original documents to us, this is at your own risk, so to help minimise this risk, we recommend you send any original documents to us by recorded delivery.

If you have any further queries relating to a Power of Attorney, please call our Customer Services team at 0345 6460 460, and they'll be happy to help.

We’re here whenever you need us, whether you’re struggling with your finances or going through a tough time. You can find out more about the help available here.

We may close your account if you move outside of the UK, unless you move to a British Forces Post Office address.

If you are/have moved abroad since opening an account, you'll need to complete the following forms and post them back to us.

• "Change of Address" - this needs to confirm your new overseas address
• "FATCA Form" - to provide up-to-date information about your tax status

At Vida Savings, we always aim to provide a first-class service and are committed to the highest standards of customer care.

We don't always get things right the first time. If you're not completely happy with our service, we would like to hear about it, so please call our Customer Service team at 0345 6460 460 or visit our "Making a complaint" page for more information and alternative ways to contact us.

The Authorised Push Payment regulations provide protection for customers if you are scammed into making a payment through the Faster Payment Scheme (FPS) or Clearing House Automated Payment System (CHAPS). Please visit this page for more details.