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Frequently Asked Questions

Savings - Application Common Questions

Why do you need my bank details?

The reason that we request your bank details is so that we can carry out an identification check to make sure the account number provided links to your personal current account; this is not a credit check with any credit referencing agencies.

What is a nominated account?

  • A nominated account is the UK personal bank or building society account that you register with us when you open your PCF account. You should be named as an account holder and the account should accept Faster Payments, CHAPS and BACS.
  • To help us keep your money safe and protect against fraud, we’ll only accept deposits from this account, and we’ll always send money back to this account, for example when making payments of interest or when you make withdrawals. Payments to us from any other account will not be accepted and would be returned.

My Customer Number hasn’t arrived.

  1. Please check your email inbox/spam/junk folders for an email from PCF Bank.
  2. If you have not received an email containing your Customer Number, please contact a member of our team on 020 7227 7577.

If you are an existing customer and have applied for a new account via our website, you will not receive a further email confirming your Customer Number. You will be able to log-in with you previous Customer Number and password to view your new account.

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Savings - Online Banking Common Questions

I can’t log in to my online banking.

  1. Please make sure your Customer Number is correct (Customer numbers begin with either 500 or 300).
  2. If the Customer Number is correct, please make sure the password is also correct – all passwords need to be between 8-12 characters, if your password is more than 12 characters, you will be unable to log in.
  3. To reset your password, please click on “Reset Password” on the log in page and enter your Customer Number. You will then be asked a security question and an SMS authentication will be sent to your mobile phone.
  4. Once this has been entered you will then be able to reset your password for Online Banking.

Where do I find my PCF Account Number?

Once you have successfully logged in to your PCF Online Banking, you will see on the home page, the type of account you have opened along with the sort code 23-01-08 and next to that is your account number. Your account number begins ‘10XXXXXX’.

I’ve received ‘failed log in alerts’ but haven’t tried logging in, am I being hacked?

The reason you will have received these messages is because our Customer Numbers increase numerically, therefore it is likely that another PCF customer has accidentally typed their customer number instead of their own when trying to access their online banking.

However, if you are still unsure regarding this message, please contact a member of our team on 020 7227 7577.

How do I view my account balance?

You can log onto your PCF Online Banking>Accounts to view your transactions and balance.

You will need your Customer ID and Password for your PCF Online Banking.

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Savings - Funding Account Common Questions

How do I view my account balance?

You have 14 calendar days to fund your PCF Term Deposit account. In this time, you can complete as many transfers into the account that you need to as long as they all come from your nominated account. Once the 14-days is reached, the funding window is closed, and you will no longer be able to transfer funds to your Term Deposit Account

How do I transfer money from my nominated account to my PCF Account?

Once your account has been approved and opened you will need to send money to your new savings account. The funds will need to be sent to sort code 23-01-08 and your PCF Bank account number which starts with 10XXXXXX. Your account number can be found by logging on to your PCF internet banking.

Funds can be transferred into your account by electronic transfer or cheque. Electronic transfer must be made from your nominated bank account which you gave in the application process. These can be made using Faster Payments, BACS or CHAPS. On a Notice Account, you can make as many deposits as you wish up to the account limit (£85,000).

Where do I send a cheque?

Cheques need to be made from the nominated bank account that was given during the application and posted to PCF Bank Ltd, Pinners Hall, 105-108 Old Broad Street, London, EC2N 1ER.

Why isn’t my money showing on my PCF online banking?

Your funds can take up to 2 hours to show on your PCF account from the time you transferred the funds from your nominated bank account on a working day.

If funds were transferred on a non-working day, they will show in the morning of the next working day.

If the funds do not appear in your account within 24 hours, we ask that you please call the bank of your nominated bank account and have a trace placed on the payment transfer. Your bank will then be able to confirm the current location of your funds.

How many accounts can I open?

You can have as many accounts as you wish so long as you do not hold more than £85,000 in total with PCF Bank. Joint account holders can hold £170,000.

Where’s my interest? When is my interest paid?

Interest is paid to your nominated bank account annually, on the anniversary of the account opening.

If you have a notice account with PCF, your interest is sent to your nominated bank account within 2 working days of the anniversary.

Why is my nominated account unable to verify my PCF account details?

The Confirmation of Payee has been issued to the UK’s six largest banking groups (Barclays, HSBC including First Direct, Lloyds Banking Group, Nationwide Building Society, Royal Bank of Scotland Group and Santander UK). At this point PCF Bank, like many smaller challenger banks, are not eligible to join the scheme.

PCF Bank are aware of this scheme and in consultation with UK Finance the governing body who are implementing this change, in the future we will be looking to join and in turn provide the same level of assurance you receive when making payments to other financial institutions.

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Savings - Notice Account Common Questions

Do I have to give the full notice amount to withdraw my funds?

No, you can give notice to make a withdrawal on any amount within your available balance.

Can I cancel any notice that I have on my account?

Yes, you can cancel any given notice that you have on your account as long as it is more than 5 working days before the notice is due to be sent to your nominated account.

Does my account close automatically if I withdraw the full balance?

No, your notice account will still stay open at a nil balance. To close your notice account, you will need to contact the Savings team either via secure message via your PCF Online Banking or by phone and request a notice for closure to be placed on your account. Once the account is at a nil balance, we can then close your notice account and any accrued interest will be sent to your nominated bank account the next working day.

What is the minimum amount I can keep in my notice account?

When you first open your notice account, you need to fund the account initially with a minimum of £1,000.00, but once your account has had these funds in, it will stay open even if you chose to withdraw the full amount and it goes to a nil balance.

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Savings - General Questions

How safe is my money?

Your money is in safe hands. You will be covered by the Financial Services Compensation Scheme, which means that your deposits will be covered up to £85,000. Visit this website to view the information https://www.fca.org.uk/consumers/deposit-savings-protection.

Our unique FRN number is 747017. Which can be searched on the Financial Conduct Authority website.

What/who is PCF Bank?

  • PCF was established in 1994 as a finance company and authorised to become a bank in December 2016.
  • PCF Bank offer a range of asset and bridging finance products to consumers and businesses throughout the UK.

Since becoming a bank, we now offer a range of competitive savings products including notice accounts and term deposits.

How do I know that you are a Bank?

You can search for us on Companies House, the FCA, Bank of England or on AIM’S (Alternative Interest Market) list.

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Savings - Rates

What are the current rates you are offering to new customers?

We offer a range of competitive savings products including notice accounts and term deposits. Please visit our Savings Interest Rates page by clicking the link to view our available interest rates: Interest Rates | PCF Bank.

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Savings - Reinvestment Accounts

I have an account with you which is due to mature in the next 30 days, what do I need to do?

If you have an account maturing in the next 30 days, log on to your online banking account to view your reinvestment options. When you log in to your PCF savings account via our website (www.pcf.bank), you will see ‘You have an account is reaching maturity’. If you click this text, you can start the self-serve maturity instruction procedure.

Once you’ve clicked ‘You have 1 account reaching maturity’, you will see details of this account and you have two options: ‘Review my reinvestment options’ If you click this you are taken to a page of exclusive reinvestment products you can choose to roll your funds into at maturity. Alternatively, should you not want to reinvest with us, you can select ‘No, I do not want to reinvest’.

If you selected ‘Review my reinvestment options’, you can view details of each reinvestment product by selecting the product. If you decide you want to go forward with your selected product, use the ‘continue’ button after reading each page of the product details and proceed through the process to finish. If you want to view more products, use ‘cancel’ to go back to the reinvestment product list and start again.

If you are having trouble using the online maturity self-service, you can call us on 020 7227 7577 and we can help you over the phone.

How long do I have to decide on whether I want to reinvest my funds or not?

We ask that you please contact us at least 4 working days before your maturity date to confirm your decision, if your account is due to mature within 4 working days, please call us on 020 7227 7577.

I do not with to reinvest my funds on maturity, how do I get my funds back?

If you choose not to reinvest your funds with us, you do not need to do anything as the funds will be returned to your nominated bank account automatically on your maturity date.

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