Setting up or amending a bank or building society account 2025

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Building societies typically offer slightly better rates than High St Banks for savings. However, there are also specialist Banks that frequently offer better rates but do not have branches. More generally, check a comparison site like MSE to find the best rate at a point in time.
Building society versus a bank Typically building societies offer higher interest rates when compared to a bank, but banks do offer a broader range of products.
A building society is also a financial organisation offering some of the same products and services as banks, but most often with a focus on savings accounts and mortgages. Building societies are referred to as mutuals, as they are owned by their members rather than external shareholders.
Co-operative Bank, a subsidiary bank of Coventry Building Society. Coventry Building Society. Cumberland Building Society. Darlington Building Society. Dudley Building Society. Earl Shilton Building Society. Ecology Building Society. Family Building Society, a trading name of National Counties Building Society.
At a glance: A bank has customers, a building society has members. You become a member when you open a savings account, or take out a mortgage with a building society. A building society is run for the benefit of its members, instead of shareholders. Members can have a say in how a building society is run.
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People also ask

When you sent money to a building society, youll need the usual name, account number and sort code. Youll also need the building society roll number.
A bank has customers, a building society has members. You become a member when you open a savings account, or take out a mortgage with a building society. A building society is run for the benefit of its members, instead of shareholders. Members can have a say in how a building society is run.
Whilst most standard UK bank accounts have an 8 digit account number and 6 digit sort code, some Building Society accounts may also have whats referred to as a building society roll number or just a roll number - a reference code with letters and numbers.

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