FAQs

Am I covered by the Financial Services Compensation Scheme?

Yes, Kingdom Bank is a member of the scheme. If you would like further information about how this provides you with security when banking with us, this can be found at www.fscs.org.uk.

Can I get extra savings application forms?

Yes, simply visit our ‘useful documents’ page. There you will find the applicable form(s) for the product, or you can call us on 0115 921 7260.

Do I have to be a Christian to be a Kingdom Bank customer?

No. Although we anticipate that our products will be most attractive to Christians who share our vision to help churches grow, there is no requirement for a Kingdom Bank customer to be a Christian.

Do you offer internet banking?

Internet banking is currently available for personal customers and enables individual savers to manage their accounts online.

Internet banking for organisations is currently under development and will be available soon.

Do you open current accounts?

We do not currently offer current accounts, though this is an area which we are looking to develop.

I am an existing customer. Can I download the forms I need from this website?

Yes, we have put some of the most requested forms on the website for you to download. Simply visit our ‘useful documents’ page. If you require any help with locating or completing the form you need, please do get in touch.

What if I have a complaint?

We make every effort to provide an excellent service to our customers. Occasionally, however, things go wrong and we will make every effort to put them right. Please visit the complaints area of our website for information on how to pursue a complaint.

I am applying for probate for an individual who had an account with you. What should I do?

We are here to help every step of the way at this difficult time.

Initially, please send a copy of the death certificate to our office so that we can register this on the account.

If the account is in joint names, upon receipt of signed instruction from the sole survivor, we will convert the account to their sole name and send confirmation out in the post.

For accounts in the sole name of the deceased, please note the following:

  • Should the balance of the account be less than £5,000 Section 1 and 2 of our ‘Small Estates Indemnity Form’ should be completed by the Executor(s) or the person beneficially entitled to receive the funds. Please then send this to our office along with signed instructions on where you would like the funds to be sent.
  • Should the balance of the account be between £5,000 and £15,000 Section 1 and 3 of our ‘Small Estates Indemnity Form’ should be completed and sent to our office, along with signed instructions on where you would like the funds to be sent.
  • Should the balance of the account be over £15,000, please provide us with the Grant of Probate, along with signed instruction from the Executors to close the account. We will also need to know where the funds are to be sent.

Please contact us and we will be happy to help you.

What is the difference between registering as having power of attorney and registering as a third party? How do I apply?

Someone holding Power of Attorney has the same rights as an account holder to operate the account, whereas an individual who has third-party access is restricted to the following functions:

  • Access to transactions and balance on the account.
  • Can request for a statement to be sent to the account holder.
  • Can make a withdrawal on an account.

In order to register as an Attorney, please complete this form and send this to us, along with the Power of Attorney document.

In order to register to have third-party access, please complete this form and send this to us.

If you have any questions about this process, please don’t hesitate to get in touch.

What is the Personal Savings Allowance?

From 6 April 2016, savers have been able to grow their money tax-free, thanks to the ‘personal allowance.’ The allowance depends on the individual’s income: basic rate taxpayers are able to earn up to £1,000 in savings interest tax-free, while higher rate taxpayers are able to earn £500 tax-free. Additional rate taxpayers do not have a Personal Savings Allowance.

Kingdom Bank pays all savings interest gross, so no tax is deducted.

This means that individuals who exceed their Personal Savings Allowance, or who do not have one, will owe tax on some, or all, of their savings interest.

For more information, please see the latest Government information at www.gov.uk/apply-tax-free-interest-on-savings, or contact HMRC at www.gov.uk/contact-hmrc or on 0300 200 3310.