Base Rate Tracker

If you can't find the answer you are looking for please call us on 0845 3000 164 and we will be happy to help you.

Who can open a Base Rate Tracker Account?

• UK residents aged 16 or over.
• Accounts can be opened in single or joint names.
• Minimum investment is £1,000.

How do I open an account?

You will need to complete two application forms (one to open the account with the Bank of Scotland and another to enable Aviva to administer the account) and enclose a cheque made payable to the account holder(s). The minimum opening balance is "£1,000".

In certain circumstances you may be required to provide evidence of your identity and confirmation of address, in which case Aviva will contact you.

What happens once I've completed my application?

Once we receive your completed application forms and cheque we will arrange for your application to be sent to Bank of Scotland for them to complete the necessary checks in order to comply with their banking obligations.

Once Bank of Scotland have completed their checks we will transfer your cheque into your Base Rate Tracker Account and issue you a Welcome Pack. Your new account should be open with your savings earning interest within 5 working days of us receiving your application.

The day after you receive your Welcome Pack you should receive your PIN (Personal Identification Number). This is sent separately for security purposes. Once you receive this you will be able to operate your Base Rate Tracker Account by phone.

Are there any charges for this account?

There are no charges for normal transactions. All deposits and withdrawals are free.

A charge may apply for services not normally involved in running the account.

You will be told what these are before the transaction is made.

Please see the:

• About Your Account (PDF 250KB)
• Terms and Conditions (PDF 275KB)

for more details.

How secure is my money?

Your account is easy to access and yet secure. When we open your account we will send you a PIN (Personal Identification Number) for access to your account on the telephone. It's important that you do not divulge your PIN to anyone.

When you ring us to transact on your account you will be asked for two random numbers from your PIN.

Bank of Scotland ("the Bank") is a member of the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Where you make a deposit to the Bank in the UK, compensation payments under the scheme are limited to the first £50,000 or €50,000 of your total deposits with the Bank (whichever is the greater at the time of default).

Most deposits denominated in Sterling, Euro and other European Economic Area currencies made with offices of the Bank within the European Economic Area are covered. There are different levels of protection for other investments covered by the Financial Services Compensation Scheme. Further details are available on request.

How do I make deposits?

You can pay lump sums into your account by:

• Electronic transfer (BACS) – from your nominated bank account. This may take up to 3 business days to clear into your account.
• Cheque made payable to the account holder(s) – this will take 4 business days to clear.

You can pay regular amounts into your account by standing order

There is a minimum amount for additional payments:

• £20 for a monthly standing order or direct credit.
• £50 for all other payments.

How do I make withdrawals?

You can make withdrawals by:

• Electronic transfer to your nominated account – this may take 3 business days to clear.
• Transfer to an Aviva investment policy

How do I close my account?

You can close your account at any time by phone or in writing.

The funds will be paid by electronic transfer (BACS) to your nominated account. The funds can also be transferred into another Aviva investment policy.

How and when is interest paid?

Interest is calculated on your daily cleared balance and paid monthly on the last business day of each calendar month. Interest is paid directly into your Base Rate Tracker savings account.

When will I receive statements?

Unless you request otherwise, you will get a monthly statement showing all transactions on your account.

What is my nominated bank account?

This is the bank account on your application that you can use to transfer funds to, and from, your Base Rate Tracker savings account.

How do I get more information?

If you have any further queries please call us on 0845 3000 164, where one of our call centre team will be happy to help. Lines open Monday – Friday, 8.30am – 5.30pm.

Apply now

Apply now

WC02030 09/2011