DF Capital

If you have a question about our Savings products or services, the quickest way to find out more could be to look at our frequently asked questions below.

We don’t yet offer online banking but you can manage your account using our secure messaging service. Click on the Secure Messaging tab below for more information.

About

Yes. We are a UK based bank with a head office in Manchester.

We are open Monday to Friday 9am to 5.30pm, excluding Bank Holidays. If you have any queries please contact our Savings team at savings@dfcapital.co.uk.

We are a digital only bank so do not have any branches. You can apply and open an account online. All open accounts are managed by email with all account information is shared via our secure online messaging platform.

DF Capital is a trading name of DF Capital Bank Limited, which is a subsidiary of Distribution Finance Capital Holdings plc and is registered in England and Wales (company number: 10198535). Registered office: 196 Deansgate, Manchester M3 3WF. DF Capital Bank Limited is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA (Financial Services Register No.848291). DF Capital Bank Limited’s commercial lending products are not regulated by the FCA or the PRA.

We are covered by the Financial Services Compensation Scheme (FSCS). Your eligible deposits with DF Capital are protected up to a total of £85,000 by the FSCS, the UK’s deposit guarantee scheme. Please click here for further information or visit www.fscs.org.uk.

Product

There are no charges for opening and operating a DF Capital savings account.

Yes. You can open as many accounts as you want, subject to the overall deposit limit of £85,000 across all DF Capital accounts. Visit the Savings page to apply for another account.

You can apply and open an account online. All open accounts are managed by email with all account information is shared via our online secure messaging platform. If you have any queries, please contact our Savings team at savings@dfcapital.co.uk, who are available to support Monday to Friday 9am to 5.30pm, excluding Bank Holidays.

No. We do not currently offer joint accounts.

No. We do not currently offer ISAs.

You cannot open an account as a power of attorney.

Interest

The interest rate can be found on the welcome email you received when opening your account. If the rate has changed since you opened it, you would be notified in advance by email. For our current interest rates please see the Our Interest Rates page.

For Fixed Term accounts, interest is calculated daily, applied at the end of the term and can be withdrawn or reinvested at maturity.

For Notice Accounts, interest is calculated daily, applied monthly and added to your account balance on the 1st of each month, which can be withdrawn upon request.

For Fixed Rate and Notice Accounts, you will start earning interest from the first day that your account is funded.

Security

Please contact us immediately at savings@dfcapital.co.uk if you have any concerns about your account security.

Application

To open an account, you can apply online via our website. When you complete an application, we will check your eligibility and verify your identity.

If you are eligible and we can verify your identity we will be able to set up your account. If we need additional information from you to complete your application, you will be provided with details of what you need to send to us.

Our savings accounts are available to individuals who are UK residents, have had a UK address for at least 3 years and are aged 18 or over. Applicants must also be liable to pay tax in the UK only.

If you become non-resident in the UK or you are planning to become a non-UK resident for tax purposes, you must inform us as soon as reasonably practical of your intention to do so and in any event, you must inform us before the date you become a non-UK resident. Your account will be closed in line with the terms and conditions of the account.

To open a savings account you will require the following information:

  • A valid email address and telephone number
  • Your address details
  • Details of your personal UK bank or building society account from which you intend to make the deposit from.

Once you have submitted your application, we will verify your address and identity. We do this by checking several electronic databases immediately after you submit your application.
Following this:

  • If your application is successful, you will receive an email with the bank details you need to fund your new account.
  • If we need additional information from you to complete your application, you will be provided with details of what you need to send to us.
  • If your application is unsuccessful, you will be advised that we are unable to open an account for you at this time.

A nominated account is a UK bank or building society account that you can make payments from and receive payments into. You must be named as an account holder on this account. All deposits into your DF Capital account must come from your nominated account and any withdrawals out of your DF Capital account (including interest payments) will be sent to your nominated account. If you send payments from an account other than your nominated account, your payments will not be accepted and will be returned.

If you want to change your nominated account, you can do so by email at savings@dfcapital.co.uk. We may ask for additional verification to prove that this is an account in your name.

Yes. You can open as many accounts as you want, subject to the overall deposit limit of £85,000 across all DF Capital accounts. Visit the Savings page to apply for another account.

You can apply and open an account fully online. All open accounts are managed by email with all account information shared via our secure online messaging platform. If you have any queries please contact our Savings team at savings@dfcapital.co.uk. Our operating hours are Monday to Friday 9am to 5.30pm, excluding Bank Holidays.

You cannot open an account as a power of attorney.

Identification Checks

When you apply to open an account, we are required by law to verify your identity to comply with money laundering regulations.

We do this by checking your identity and address electronically through several databases. In some cases, we may need to ask you to send further identification by email.

If asked to do so, please can you email a scanned copy or electronic photo of your passport photo page and UK photo card driving licence to savings@dfcapital.co.uk. The name and address shown on your documents must match exactly with those stated in your application. Unfortunately, we are not able to accept any other forms of identification at this time.

Deposit

You can deposit funds into your Savings account by making a CHAPS or electronic transfer from your nominated account.

Payments received will be applied to your account one working day after you send it to us. We will then send you a notification email confirming receipt of your payment by secure messaging.

Withdrawal

You will receive an annual statement in April which will be sent to you via email. You can request any time additional statements or confirmation of your balance by emailing us at savings@dfcapital.co.uk.

For Fixed Rate Deposit accounts, you have a cooling off period of 14 calendar days from the date you opened your account during which you can change your mind. If you decide that you don’t want the account, we’ll cancel it and return your money without interest, penalty or notice. Once this period has expired, no withdrawals, transfers out or closures are permitted until the maturity date unless in exceptional circumstances, see Terms and Conditions.

For Notice Accounts, you are able to request a withdrawal by emailing us at savings@dfcapital.co.uk. There is a minimum withdrawal amount of £1,000 unless account balance is lower, in which case you can only withdraw the whole balance.

Cancellation

Yes. You can change your mind within 14 calendar days of opening the account, please instruct us by sending an email to savings@dfcapital.co.uk.

Account Closure

For a Notice Account, your account will close once all funds have been withdrawn at your request

For a Fixed Rate Account, we will email you prior to the end of your fixed term to let you know your options. Upon maturity, we will carry out your instructions to either withdraw your money or reinvest in a new account. Your Fixed Rate Account will then automatically close.

We’ll contact you 30 days before the term of your Fixed Rate deposit ends to explain your options for either opening a new savings account with us or withdrawing your funds. We will also send a reminder 14 day before the term ends. You will be able to discuss your options and maturity instructions by emailing us at savings@dfcapital.co.uk.

If you ask to withdraw the matured funds, they will be sent to your nominated account by Faster Payment on the maturity date (or the next working day if the maturity date is a weekend or bank holiday).

If we don’t hear from you by the maturity date, we will transfer your funds into Call Deposit Account and close your matured account.

A Call Deposit Account is an interest bearing deposit account that does not permit further deposits and allows a single withdrawal of all the funds to either a new Savings account with us or to your nominated account.

At DF Capital we use a Secure Messaging Service provided by Mimecast to ensure your personal information is treated with the highest level of care. Mimecast is a global company which provides email security services.

Please take a look at our helpful guide on how to use our Secure Messaging Service by clicking here.

Secure Messaging

DF Capital use secure messaging to send emails to Savings customers. This keeps your personal account information safe and protected. You will be sent an email to log into our secure messaging account where you can view all of your email correspondence.

We use the Secure Messaging Service to ensure your emails are not accessed by any unauthorised users. Once you have opened a Savings account with DF Capital you will receive all email correspondence through our Secure Messaging Service, this will include emails with any personal details including account details. The Secure Messaging Service will hold all emails in a secure account for you to login at any time and view. You are also able to respond to the messages using the same system.

Once you have opened an account you will be sent an email with a link to the secure messaging service where you can login using your email address and password.

If you forget your password you are able to reset it yourself by typing in your email address onto the login page, click next, then click on “Forgot your password?”, then click on the “Reset Password” button. This will then send a password reset email to you. If you are still unable to login, please email us at savings@dfcapital.co.uk. Please note that our operating hours are Monday to Friday 9am to 5.30pm, excluding Bank Holidays).

If these FAQs do not answer your question please email us at savings@dfcapital.co.uk.

However, if your questions are related to commercial lending please contact us at enquiries@dfcapital.co.uk. If you are an existing Commercial customer, please contact your dedicated industry team directly. You can locate the details for your relevant contacts on our business portal, DF Connect.

FSCS Information

All eligible deposits with DF Capital are protected up to £85,000 by the Financial Services Compensation Scheme.

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Complaints

If you’re unhappy with any aspect of our service, please let us know so that we can put things right.

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