Savings Products

FSCS Protected Logo Top-1


Instant Access Savings

This instant access savings account is designed specifically for customers over the age of 18 who are looking to deposit monies with immediate access. 

Premier Account
Instant Access to Your Savings

Get instant easy access to your savings. Save or withdraw whenever you want.

If you are looking to save but don’t wish to lock your funds away where you are required to either give notice to access the monies or they are not accessible for a certain period, for example one year. Why not open an Instant Access Savings account with Swansea Building Society from just £1 and enjoy immediate easy access to your cash?

It doesn't matter if you’re saving for a wedding party, a new vehicle, a once-in-a-lifetime holiday, you can open as many Instant Access Saver accounts as you like. Start an account with only £1. Then how much and how often you save is up to you! You can deposit a lump sum payment or save little and often at a time. (Maximum balance across all Society savings accounts held is £1 million.)


If you like to save each month, you can select to save by standing order, moving a fixed amount into the account every month.

What is an Instant Access Savings account?

Swansea Building Society Instant Access Savings accounts provides you with a competitive interest rate with the versatility to access your savings. This is an instant access account, so you're able to withdraw and transfer funds anytime you need to, no notice necessary.

Manage your money 24/7. Once opened, you can manage your account online anytime of the day. Or you can have easy access to your savings by telephone and in branch during office hours.

Why choose Instant Access Saver?
  • Interest rate - 1.25% GROSS / AER (variable).
  • Instant Access to your money - Make withdrawals at any time.
  • Easy to manage your money - Online, on the telephone and in branch.
Who's the Instant Access Savings account for?

Individuals who want instant access to their cash.

How it works

Instant Access Savers help you save for anything at all, in a way that best suits your needs. You can open your Instant Saver account with just £1 and deposit a lump sum or set up a standing order to regularly save each month.

It's an Instant Access Account so you can put money in and take money out whenever you like. There are zero charges for withdrawals.

Who is eligible for an Instant Access Savings account?

It’s simple to open an Instant Access Savings account.

To open an instant access savings account with Swansea Building Society, you’ll need to be a UK resident and aged 18 or over - see our Young Savers accounts if under 18.

This account can be held in your own or jointly with another individual.

You must be a permanent resident in the UK.

Summary Box - Key Product Information:

Account Name Instant Access Saver
What is the Interest Rate?
  • 1.25% GROSS / AER (variable) - from 01.08.2022.
  • Interest is variable and calculated daily on the balance in the account and paid to the account annually on the 31st December.
  • Interest is paid gross without tax deducted. If the total amount of interest you earn exceeds your Personal Savings Allowance then you may have to pay tax directly to HMRC. For more information visit and search ‘Personal Savings Allowance’.
  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
  • Please note, the tax treatment and rate of interest payable depend on the individual circumstances of each customer and may change in the future.
  • The interest rate for this account will be displayed via our website at for customers to access and monitor from time to time as required.
Can Swansea Building Society change the interest rate?
  • Yes - Interest rates are variable which means the interest rate can go up and down and may be amended at any time.
  • We will give you 14 days written notice by post of any proposed change in our interest rates. They will also be posted on our website or you may visit or telephone any one of our branch offices. Details of other Swansea Building Society savings accounts interest rates are available in our ‘Range of Savings Accounts’ leaflet which is available by visiting or telephoning one of our branch offices or online here.
  • To understand why rates may be reduced please refer to our General Terms and Conditions for the operation of Savings Accounts.
What would the estimated balance be after 12 months
  • Projected Balance = £1,012.50 (This figure is for illustration purposes, does not take into account the individual circumstances of the customer and is based on a deposit of £1,000 with no additional deposits, withdrawals or changes in interest rate within the 12-month period.)
How do I open and manage my account?
  • To open an account, you must be resident in Wales. Simply call at one of our branches or complete an application form and post it to us along with a cheque made payable to '(your name)’. For further details on our Identification process please see our Proving Your Identity leaflet available from branch offices or online here.
  • The minimum investment is £1. The maximum investment is £1m per customer. The maximum balance that can be held across all Swansea Building Society savings accounts held is £1m per customer.
  • Deposits can be made by cheque, standing order, electronic bank transfer, transfer from another account held with the Society (subject to the Terms and Conditions of that account) or cash (cash deposits are limited to £3,000 per customer per day).
  • Manage your account in branch, e-mail, post or online via secure message (subject to Swansea Online Account eligibility criteria, available when you click ‘Register Now’).
Can I withdraw money?
  • Yes, you do not have to give notice to close your account or make a withdrawal.
  • You can withdraw money from your account at any time without notice, loss of interest or penalty by visiting us at a branch. Alternatively, you may send us your signed written instructions by post, by Email or via our online service Swansea Online using the secure messaging service.
  • Minimum withdrawal is £1 (or less if closing the account). Minimum balance to be held in this account is £1.
  • The maximum cash withdrawal per customer per day is £1,000.
Additional Information
  • For General Terms and Conditions applicable to this account see “General Terms and Conditions for the Operation of Savings Accounts" available from our branches or online here.
  • The Society is part of the Financial Services Compensation Scheme (FSCS). Details of the scheme and who is covered by it can be found at
  • Service charges and costs may apply to your account. These are outlined in our Savers Tariff. 
  • In certain circumstances we may refuse an instruction to operate an account. These circumstances are outlined in our General Terms and Conditions for the Operation of Savings Accounts. 
Specific Terms and Conditions for the Instant Access SaverAccount

1. Account opening and Investment Limits:
To open an account, the applicant(s) need to be aged 18 and over. The minimum investment is £1. The maximum investment is £1m. The maximum balance that can be held across all Swansea Building Society savings accounts held is £1m per customer.

2. Further Investment:
You may add to your savings at any time, just call into your local branch with your deposit. If it is more convenient you can post the deposit, make a payment via electronic bank transfer or save through a standing order from a UK bank or building society account.

3. Withdrawals:
You can withdraw from your account without giving notice subject to Society limits. Details of our cash, cheque and electronic payment withdrawal limits are displayed in our branch offices and on our website.

4. Interest:
Interest is variable and calculated on a daily basis on the balance in the account. Interest will be credited to the account following the close of business on December 31 each year. Statements are sent out annually on December 31st.

5. Terms and Conditions:
These specific Product Terms and Conditions apply to this account in addition to our General Terms and Conditions for Savings Accounts. Where there is any inconsistency between the General Terms and Conditions for Savings Accounts and the specific Product Terms and Conditions, the specific Product Terms and Conditions will apply.

The information provided is a summary of the key features of the savings account and is not intended to be a substitute for reading the Terms and Conditions that apply to the account.

Hard copy - If you would prefer to print off or save the information on this page you can download a PDF here

Need help - If you would like to speak to one of our friendly team about opening an account and / or to answer any questions you may have, please click here to request a call back or go to our ‘Contact Us’ page for details of how to contact your local branch.


You can download any of our application forms or related documentation here. If you need any assistance, please contact your local branch where one of our team will be happy to help you. For details of how to contact your local branch, please see our ‘Contact Us’ page.