Paying In & Withdrawals
Paying In & Withdrawals
Here’s the instructions on how you can pay into your account and make withdrawals
How do I pay money into an account?
Wave Account
Members can now make a direct deposit into their WCB account.
You can connect your Wave Account to your bank account to make faster payments into your Wave Account via the online app or website.
To do this you need to:
1. Log in to your WCB account via online banking or the mobile app
2. Select your savings account
3. Select ‘Deposit’
4. Select ‘Faster payment’
5. Type in the amount you would like to deposit
6. Select the bank from the list.
7. You will be directed to your bank’s online banking service to log in.
8. Confirm that the bank account for the payment to be made from and select ‘Make payment’
9. The bank connection is then made and is being authorised by both parties.
10. Once the bank connection has been made and the transfer completed, the page will display a confirmation page.
If you have any questions regarding this feature, please contact us on 0300 303 3188 (Mon – Fri 9.30am – 1pm) or email info@wavecb.org.uk.
Bank Transfer
Pay directly into your Wave Community Bank account using your member number as a reference in the format below.
Our bank details are:
Bank Name: The Co-operative Bank
Account Name: Wave Community Bank
Sort Code: 08-92-50
Account Number: 67007952
Example Ref: 0000 A Example (Member Number Initial Surname)
Please note the reference is different for PrizeSaver accounts. It needs to be:
Member, Number, Surname, PLS e.g 123456 Smith PLS
Standing Order:
If you have a bank account, then you can set up a standing order. Please call 0300 303 3188 or email us at info@wavecb.org.uk and we will email you a standing order form to complete.
Cheque by post to our Hove Town Hall Office:
You can pay by cheque through the post. Please make the cheque payable to ‘Wave Community Bank’ and ensure you put your membership number and address on the back of the cheque and post to Wave Community Bank, Hove Town Hall, Tisbury Road Offices, Tisbury Road, Hove, BN3 3BQ. Cheques will have to clear before withdrawals can be made against the deposit.
Cash
Please note we cannot accept cash at our Help Points.
AllPay cards
We can issue you with an AllPay card which can be used to pay into your account. You can use it in two different ways:
Pay in cash at any store displaying the PayPoint logo.
Pay in at any Post Office with cash, cheque or debit card.
Your AllPay swipe card contains a unique identification number linked to your Wave Community Bank account. The card itself has no value. Payments made with the card are automatically applied to your account. If your card is lost, please contact us as soon as possible at 0300 303 3188.
Please note there is a £5 fee for replacing an AllPay card.
Chorus Workplace Savings Scheme
You can pay directly into your savings account via your payroll if you work for one of our employer partners with a Chorus Workplace Savings Scheme. You can set up a payroll mandate here.
How can I withdraw money?
How to request a withdrawal
Withdrawals that are deemed to require extra security checks to protect you against fraud will take longer to process. Amounts over the £4999 online limit need to be requested by phone or secure message so we can call you back.
Requests for same-day withdrawals must be with us by 3pm to be actioned. Any request received after 3pm will be actioned the next working day. Bank Holidays are not working days so if you request a withdrawal on a Friday and the Monday is a Bank Holiday the next working day is a Tuesday.
Next day withdrawals are free. Same-day withdrawals requested through online banking are also free. Same day withdrawals requested by telephone or in person have a £1 admin charge.
You can request a withdrawal 2 ways:
VIA OUR WEBSITE:
Log in to your member area
Go to ONLINE BANKING
Go to External Account Transfers to request your withdrawal
ON THE TELEPHONE:
Call us on 0300 303 3188 to make your withdrawal request
Tell us you want a same-day withdrawal. There is a £1 admin charge for same-day withdrawals requested by phone and you will be asked to confirm you are happy to pay the £1 admin charge. The £1 charge will be taken from your Community Bank account.
REGISTERING A BANK ACCOUNT FOR WITHDRAWALS:
Your withdrawal will be transferred to the bank account you have registered with us. You can register a bank account for withdrawals to be transferred into within our Online Banking facility.
Alternatively please request a BACs withdrawal form by emailing us at info@wavecb.org.uk
Turning Borrowers into Savers at Wave Community Bank
Bank Transfers & Cheques
Bank Transfers
Your withdrawal will be transferred to the bank account you have registered with us. You can register a bank account with us in our Online Banking facility or email us to request a BACs withdrawal form.
We cannot take bank account details over the telephone.
Cheques:
Due to operational changes as a result of COVID19 and lack of demand, we are no longer issuing cheques for withdrawals. This includes cheques to be paid to a third party and cheques to be cashed at the Co-op Bank.
Third party withdrawals:
If you would like a withdrawal to be paid to a third party, you can add their bank account to your member area in our online banking facility and request the withdrawal there.
Cheques issued to cash
If you have previously requested cheques to be issued to cash, you will need to register a bank account with us for withdrawals to be paid into using the member area of our online banking facility. If you do not have a bank account, please consider opening an Engage account with us and we can transfer funds into that account.
We have contacted members who regularly have cheques issued to cash to ensure they have an alternative way to access funds, but if you have not already made alternative arrangements, please do get in contact with us by calling 0300 303 3188 or email info@wavecb.org.uk.
If you do not have access to our online banking facility, please email us to request a BACs registration form and we will send one to you.
You can download the Payroll Mandate Form here
Take the stress out of saving by managing your payments through your payroll.
"Oh wow this must be the best service I’ve ever used! Thank you so much for your help, I’m really excited to get my new adventure started 🙂 Many Thanks"
-Member
"I would just like to say thank you for the service given to me. At the time no other bank would help me. I am now debt free and able to continue to save the money I was paying to my loan"
-Member
Opening Hours
Our phones are open Monday to Friday between 9.30am-1.00pm and we continue to monitor our emails between 9.30am to 4.00pm.
Contact Us
Phone: 0300 303 3188
Email: info@wavecb.org.uk
Face-to-face appointments at Hove Town Hall by arrangement only.
Addresses:
East Sussex, Brighton & Hove:
Tisbury Road Offices, Hove Town Hall, Tisbury Road, Hove, BN3 3BQ
Kent, Medway and Bexley:
39-48 Marsham Street, Maidstone, Kent, ME14 1HH
Follow Us
Wave Community Bank serves members in East Sussex, Brighton & Hove, Kent, Medway and the London Borough of Bexley, plus members of Unite in the South East Region. Withdrawals over £5000 will take 5 working days to process
Wave Community Bank is a trading name of East Sussex Credit Union Ltd.Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. FCA Firm no 213910
