When you apply for an account, you’ll be asked to “link” it to another UK bank account in your name. We call this your “Linked Account”.
You will be given a sort code and an account number for your Monument account which you can use to make electronic payments into your Monument account from your Linked Account.
When you want to withdraw money from us, you can do that through the app and we will send it to your Linked Account.
We will only accept money from your Linked Account, and we will only pay your money to your Linked Account.
You can only pay in or withdraw money electronically via your Linked Account – we don’t accept (or provide) cash, card or cheque transactions.
If you are having trouble using the app due to visual impairments or other reasons, please contact us and we’ll be happy to help.
Your account statements will be available for you to view and download from the ‘My Documents’ section of the app. If you have any problems in finding or downloading them, or you need them in a different format, please contact us and we’ll be pleased to help.
If you change any of your personal details, including your contact details, if you move away from the UK, or become responsible to pay taxes in a different country, you must inform us at the earliest opportunity.
You can contact us via the app (live chat, in-app voice or video call) or call us on 020 4524 8080.
When you set up a payment from your Linked Account to your Monument account, you need to set it up to pay a personal account (not a business account) and then enter your full name as the payee (listed towards the top of this screen).
This is because you are sending money to your own personal account with Monument.
When opening a Monument savings account, we’ll ask you for details of a personal UK* bank account in your name. In certain circumstances, we may be able to accept an account held with a UK* electronic money institution (known as an e-money account) as a Linked Account.
This account is your Linked Account. We will only accept funds from your Linked Account, and we will only pay funds back to your Linked Account.
*UK means England, Wales, Scotland and Northern Ireland and does not include the Channel Islands and Isle of Man.
We will usually use the Faster Payments Service (FPS) to move funds into and from your Monument account via your Linked Account.
This service operates 24/7 and money sent by FPS should usually be received by your Linked Account provider immediately, but dependant on your provider, could take up to 2 hours and potentially up until the close of the next working day. FPS transactions are not guaranteed to reach your account the same working day and has a limit of £500,000.
If you want to move larger sums, or require the funds to be guaranteed to reach your account the same working day, you can ask us to send your funds by CHAPS. A fee applies to CHAPS payments which we will inform you of in advance and will be deducted from the funds being transferred.
No – our accounts are for your personal savings and are not business or current accounts. We will only send money to your Linked Account, or to other Monument savings accounts you may have.
Yes - we ask our clients to hold at least £25,000 in savings with us.
We offer a range of different savings accounts, so if you have over £25,000 in total with us you will meet the minimum balance requirement. If you are applying for your first Monument savings account, then you will need to deposit at least £25,000 when opening that account.
We appreciate this may be built up over a short period (although for our Fixed Term Deposits there is a 14 day funding period – please refer to the detailed Fixed Term Deposit Terms).
If your total savings balances are or fall beneath £25,000 we will ask you to “top up”, and if you don’t, we reserve the right to close your account(s) and return any balances to your Linked Account(s).
Yes – we have a maximum total savings balance of £2,000,000 per client. If your total savings exceed the maximum we will contact you, and we may decide to return some of your funds to your Linked Account(s).
No – our accounts are designed for your personal savings, so we do not offer overdrafts. You will not be able to withdraw more than your account balance.
Whether you're facing financial, health, or other personal challenges, you can choose to share this with us. We'll listen and work together with you to understand how we can support your banking needs.
In some exceptional circumstances we may allow you to withdraw from or close your Fixed Term Deposit before the end of the fixed term.
If you, or a family member or representative acting on your behalf, are thinking about appointing a Power of Attorney over your financial affairs after your account has been opened, we can explain how to make that process as easy as possible for you. Please note that we do not offer servicing for accounts where a Power of Attorney was registered prior to opening the account.
If you would like to discuss any of the above or if there is anything else you’d like to let us know, you can contact our Client Services Team:
Any information you share will be treated securely and confidentially, and only used to support you. You can contact our Client Services Team to update or remove your details
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