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What other details will you need to send money to a building society? Account name the person you are sending the money to. Sort code this is 6 digits (for example, 01-01-01). Bank account number this is 8 digits and can be found a debit card or statement. Building society roll number for YBS, this is 10 digits.
What does bank or building society mean?
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.
What is a bank or 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.
What is a bank or building society statement?
Last updated: 03 January 2025. A bank statement lists all the transactions in and out of your account, plus details like your name and address. This lets you keep track of your money, spot any potential fraud and prove where you live.
What is a building society example?
Building societies are owned by their members and offer similar services as banks. For example, they also focus on savings or lending money for mortgages and loans. Every borrower or saver is, however, not a customer but a member.
People also ask
What does it mean when asked for a building society account?
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.
What does bank or building society reference mean?
Building society reference numbers are unique codes that help identify specific accounts and transactions.
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Instruction to your Bank or Building Society to pay by Direct
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Credit Account Application Form Application for 30 Day Credit
Banks and building societies may not accept Direct Debit Instructions for some types of account. This guarantee should be detached and retained by the payer.
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