Saga Savings FAQs

This is an easy access savings account, meaning you can withdraw money at any time without penalties. However, there are limits on the amount you can withdraw. You can withdraw up to £10,000 from your account each transaction. Over a rolling 24-hour period, you can withdraw a maximum of £20,000.

To apply for a Saga Easy Access Savings Account, you need to be a UK resident aged 18+ and have a:

• UK address
• UK mobile number
• UK tax residency only
• UK bank or building society account that can be used as a nominated account
• Smartphone or tablet to verify your ID

Your Saga Easy Access Savings Account is provided by National Westminster Bank Public Limited Company, trading as NatWest Boxed.

There are no fees associated with our savings account.

You can save as little or as much as you'd like, up to £1 million, with no more than £250,000 per deposit.

There's no minimum amount you need to have in the savings account.

We only allow one person to have access to a savings account. You can't add another person to the account.

You can call us on 0808 160 9555 if you need help managing your savings account.

Read more about Power of Attorney arrangements if you need someone to help manage your finances long term.

We always try to give you the best possible service, but sometimes we don't get it right. If you let us know, we've then got the chance to put it right and help prevent the same mistakes in the future. 

You can let us know if you have experienced any problems by contacting us using one of the following methods, and we will be happy to support you further.

• Call us on 0808 160 9555
• Email us at complaints@nwboxed.com

If you don't want to make a complaint but need some help, we're here to support you.

• Call us on 0808 160 9555
• Email us at support@money.saga.co.uk

We’ll let you know we’ve received your complaint. We’ll give you a complaint reference number to use if you need to contact us. That way, we can find your information quickly.

We may need to talk to you to help put things right. So please give us your up-to-date phone number and email address.

Within five business days, you’ll receive an email acknowledging your complaint, along with a complaints leaflet outlining the next steps.

We aim to provide you with our final complaint response email within three weeks of the complaint being raised. If we need longer than this, we’ll let you know in advance.

If you think you've been a victim of fraud or a scam, call us immediately on 0808 160 9555.

It’s important that you don’t click on any links or attachments that these messages may contain.

If you've clicked on any links, or given out any personal information, call us on immediately on 0808 160 9555.

You should also report all fraud and phishing scams to Action Fraud. In England, Wales and Northern Ireland you can report this via the Action Fraud website or by calling 0300 123 2040. If you’re in Scotland, you need to report it to Police Scotland by calling 101.

If you receive a suspicious email, message, or phone call:

STOP: Take a moment to stop and think before parting with your money or information. It could keep you safe.

CHALLENGE: Could it be fake? It’s ok to reject, refuse or ignore any requests. Only criminals will try to rush or panic you.

PROTECT: Contact us immediately if you think you’ve been scammed and report it to Action Fraud at www.actionfraud.police.uk or on 0300 123 2040.

Visit the Take Five website to learn about the different types of fraud and scams, and how to protect yourself.

These type of scams involve criminals pretending to be a trusted organisation such as a bank, the police, a government department or a service provider in order to trick you into giving them sensitive information or money. They can be very convincing, using AI to fake voices and videos.

1. Your bank or the police will never ask you to transfer money to a safe account or ask for your full PIN, password or passcode.

2. The bank won’t phone you and ask you to approve a payment – only approve payments that you know you’ve made yourself.

3. Contact your bank or an organisation directly using a known email or phone number.

4. Don’t give anyone remote access to your computer or install any applications or software to your computer or devices following a cold call or unsolicited message or text.

A money mule is someone who, often without realising it, helps criminals hide money by moving it through their own bank account. Money mules are often paid but it’s a serious crime.

Follow our four top tips to stay safe:

1. Avoid 'get rich quick' or 'easy money' job offers. Criminals love to use social media and online ads to trick people into helping them move money.

2. Say NO if anyone asks for access to your bank account or to open a new one. Criminals may offer money in exchange for taking control of your bank account.

3. Be wary if someone you haven't met face-to-face asks you to move money for them. Criminals make fake online profiles to trick people into helping them.

4. Research all investment opportunities. Criminals might offer some money upfront to get you to move it around, with the promise of high returns.

Even if you didn’t know you were involved in a crime, being a money mule can have serious consequences.

Bank account closure: Your bank may close your account, making it difficult to open a new one.

Credit problems: You may find it hard to get credit in the future. This can affect your ability to apply for loans, credit cards, mortgages or even a phone contract.

Criminal record: You could end up with a criminal record.

Imprisonment: Money mules can face up to 14 years in prison.

We'll send your annual interest statement by email after the end of each tax year.

Log in to your account to see your current interest rate.

We calculate your interest rate daily, and pay it on the first day of every month. Weekends and bank holidays will have no impact on when interest is paid.

There are a range of different savings accounts on the market that might offer a good interest rate. These can go up and down, depending on the provider, your account terms, and the Bank of England base rate.

You can change your email address or password by logging into your account and heading to 'Manage account' in the menu.

To keep you and your money safe, you can only change your email or password in the same 24 hour period.

If you need to change your personal details, you can contact us by:

• Calling 0808 160 9555
• Emailing us at support@money.saga.co.uk

If you're suspicious of any activity on your account, contact us right away by calling 0808 160 9555.

Your deposit is eligible for protection under the Financial Services Compensation Scheme (FSCS).

Your eligible deposits held by a UK establishment of NatWest plc are protected up to a total of £120,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme.

This limit is applied to the total of any deposits you have with the following: National Westminster Bank Plc, NatWest Premier, Ulster Bank, NatWest Boxed and Mettle. Any total deposits you hold above the limit between these brands are unlikely to be covered.

The FSCS Information Sheet and list of exclusions can be found at www.natwest.com/fscs-information-sheet

For further information about the compensation provided by the FSCS, refer to the website: www.fscs.org.uk

The UK Data Protection Act 2018 grants you specific rights regarding the personal data NatWest hold. For more information about how they use your data and your data rights, please refer to their Privacy Notice.

Contact us immediately on 0808 160 9555 if there is activity on your account that you don't recognise, or you believe someone else has access your account.