You can make deposits to savings via various methods subject to product terms and conditions which may include deposit and maximum balance limits. We encourage regular deposits to be made by Direct Debit or Salary Contribution and also accept deposits by:
BankPay
This is our preferred method of receiving one-time deposits. We accept deposits between £5 and £25,000 using our Bank Pay service.
This service is only available within our mobile app and connects members to their online banking app or website using open banking technology to authorise the payment..
Once the payment has been approved by the bank, funds are be deposited to the savings product within a few minutes but sometimes can take one working day to process. Funds deposited using BankPay have a two working day clearance time.
Funds can only be transferred from your linked bank account .
Bank Transfer
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 number and product code as reference to ensure that we can make deposits to the correct account without delay. (EG: 12345678_S1)
Deposits received from bank accounts that are not in your name, or which are in excess of the maximum amounts permitted for the product will be returned to the source bank account. Funds received by Direct Transfer have no clearance and will be deposited to the savings product within one working day of receipt.
Cheque
We accept one-time 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 will 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).