PCF Bank made the decision to withdraw from the UK banking market in November 2022 for strategic reasons
The decision was publicly announced and savings accounts continued to operate as normal, therefore PCF Bank did not notify customers individually.
As part of the strategy to withdraw from the UK banking market, we would like to give our customers the opportunity to benefit from the general increase in interest rates available in the market. You can find information on the current savings market rates on the internet (e.g. Moneyfacts, Moneysavingsexpert).
If you do not want us to close your account, please contact us within 28 days of the date of the offer letter. This can be done by logging into your online banking and sending a secure message, by emailing us or contacting us by phone or in writing (using the contact details below) to enable us to understand your situation and discuss whether there are alternatives we can offer you to closure.
Your deposit is protected by the Financial Services Compensation Scheme for up to £85,000.00 per customer. For information about the full scope of your protection, please visit the FSCS website at www.fscs.org.uk
Any Term Deposit accounts that are due to mature or Notice Accounts with a full balance on notice due to be paid by 30th September 2023, will be closed in the normal manner, and will not be closed early.
If you wish to change your nominated account you must provide us with details of an alternative UK bank account held in your name or jointly with others. You can do this by logging into your PCF online banking account and sending us a secure message or by:
We will write to you nearer the time to confirm when your funds will be returned to you.
If you require your funds prior to the end of September, please contact the Savings Team. You can do this by logging into your PCF account via our website and sending us a secure message or by::
Closing the account and returning your funds and interest to your nominated account can take up to 5 working days.
No. You will receive any accrued interest up to the day your account is closed.
We are unable to send your funds back to you by cheque.
We have sent out communications to all customers. These communications are sent by email or delivered by Royal Mail. If you haven’t received an email it may be that we hold an incorrect email address or we sent the communication to an email address that you are not using anymore. In some circumstances we have sent a letter and the delivery time of these is something we do not have control over. If your details have changed please contact us to make sure we hold up to date contact information for future communications.