At Glasgow Credit Union, we offer several convenient and secure ways to deposit money into your savings accounts. All deposits are subject to product specific and aggregate savings limits.
Regular Deposits:
For regular deposits, we encourage members to step up either a Direct Debit or Salary Deduction. These are the easiest ways to build savings over time.
One-time deposits
We accept deposits between £5 and £25,000 using our Bank Pay service. This is our preferred method of receiving one-time deposits.
This service is only available using our mobile app and connects members to their online banking app or website to authorise a payment to us using open banking technology.
Once the payment has been approved by your bank, funds will be deposited to your chosen savings account within one working day. Funds deposited using BankPay have a two-working day clearance time.
Funds can only be transferred from your linked bank account registered in your name. We accept one-time deposits between £1 and £85,000 by direct bank transfer.
Our bank details are:
Sort Code 83-91-25
Account Number 67020081
Account name Glasgow Credit Union Ltd.
Ensure you quote your member and product reference (Member Number – Product Code) to ensure that the funds are deposited to the correct product.
Deposits received from bank accounts that are not in your name, or which are in excess of the maximum deposit or balance values permitted for the account will be returned to source. Funds received by direct bank transfer have no clearance and will be deposited to the savings product within one working day of receipt.
Cheque
We accept ad hoc deposits between £1 and £85,000 by cheque. Deposits by cheque should be made payable to Glasgow Credit Union with the account and product reference (Member Number – Product Code) written on the back of the cheque.
Cheques received from third parties may not be processed to a savings product in line with our financial crime policies. We do not accept deposits to savings products by any other means (including cash or by debit or credit card).
Unsupported Payment Methods
For your security, we do not accept deposits to savings products via:
- Cash
- Debit or Credit Cards
- Third-party bank accounts