How to open an account

Opening an account with Stafford Railway Building Society is straightforward. Once you have completed the appropriate account opening document we will ask you to provide evidence of your identity. This is to ensure both the safety of your identity and to also meet the necessary legal requirements for the building society.

SRBS will try to meet this obligation by carrying out an electronic search. However if such a search is unsuccessful, then we may request additional documentary evidence of your identity and address before the application can be processed. You will be advised of the exact requirements if documentary evidence is required. In addition to normal money laundering requirements, corporate investors must provide a certified copy of the certificate of incorporation and a piece of correspondence from HMR&C as proof of the company address.

NOTE – for Children (under 16 years of age) an electronic search is inappropriate and therefore copies of their birth certificate, passport and medical card will be required. If the account is to be opened by an adult on behalf of a child then SRBS will carry out an electronic search in the name of the adults(s) AND will also need to see a birth certificate for the child.

The FSA stipulates that when you open an account you must be given certain specified information about the Society, the accounts it offers, the way in which they operate and how changes to charges, interest rates and terms and conditions will be made.

We recommend that you spend a little time reading this folder as it contains all the information required. It will also help you to understand the implications of opening an account with the Society.When you open an account you should receive a copy of the SRBS’s summary financial statement. If you do not receive these documents please ask for copies.