Many people find saving money difficult, particularly if they don’t keep their saving and spending money separate. However, by opening a dedicated savings account with Moneywise, you’re giving yourself the best chance possible at keeping your savings safe.
At Moneywise, we offer a range of different savings accounts for different purposes, so you can choose the account that’s best suited for you. Whether you’re looking to build up a nest egg in preparation for your children going to university, or save up for a deposit on a home, we can help. We also offer dedicated saving accounts for special events like school proms, and payroll savings with regular deductions from your salary – so there’s a Moneywise savings account for you.
How do I open a savings account with Moneywise?
Our savings accounts are open to our members only – when you join our credit union as a member, you will receive a membership number so you can start saving straight away. You can apply to become a member online, or our friendly team will help you through the simple application process at any of our local branches.
You can find more information about your nearest branch on the where to find us page. If you need an answer to a specific question, our frequently asked questions page should give you all the information you need. However, if you want to find out more, please give us a call on 0191 276 7963.
Membership is open to all who live or work in most of the North East of England – Northumberland, Teesside, Tyne and Wear and County Durham. As a co-operative, all members are owners and have a say in how Moneywise operates.
It can take years for people to save for a deposit. But, saving for a deposit for a home just got easier with our Home Deposit Savings account. Now, you can save as often as you can until you’ve achieved your goal.
At Moneywise, we know that School Proms are a costly time of year for parents and carers. That’s why we have created an Adult savings account called Pay as you Prom so parents or guardians can start saving to meet the costs.
Saving with Moneywise is easy through payroll deduction. Your regular deduction comes straight from your salary so you won’t even notice it.
Smart Cash Children's
You can become a member of Moneywise from birth, so it’s a great place to put a little aside for your children and grandchildren. If your young person is between 8-16 years old, you may also want to check out the Moneywise Smartcash card, a Visa debit card for young people.
University Savings - Parents
As a parent, you want to be able to help your kids as much as you can. Start as early as you like and contribute as and when you can to give your kids the best chance of success at university.
Frequently asked questions
You can start saving from as little as £1 per week and save any amount up to a total amount of £35,000. Deposits can be made at any local branch or collection point by cash or cheque. You can even set up a standing order or direct debit to make regular payments into your savings account, direct from your bank account. We have arranged with some employers that staff can pay into their savings accounts directly from their wages. Call us to find out if we have a scheme with your employer. If not, we will be happy to talk to your employer about setting up a payroll scheme with them. More information is on our Payroll page.
You can be sure that your money is in safe hands with us. We are Regulated by the Prudential Regulatory Authority and Authorised by the Financial Conduct Authority and the Prudential Regulatory Authority, which means that we operate to the same standards as any bank or building society. We are here for you and we always put the needs of our members first.
Instead of receiving annual interest on your savings, members receive a share of our annual profits, known as a dividend. The dividend is paid annually after the annual general meeting. Please note there is no guarantee a dividend will be paid each year.
You can withdraw money from your savings account during branch opening hours, however you must leave a minimum balance of £5.
Great service, easy to apply for a savings account, and money is taken by direct debit.
I have recommended Moneywise to all my friends and family. It has helped me massively in times of need. The ladies at the office are very friendly and efficient.
Very good efficient service, I always receive a swift response when I make an enquiry.
Moneywise had been a saviour for me on more than one occasion. The staff are friendly and the service is awesome.
I am so grateful for Moneywise as they have helped me find funds when I’ve really struggled financially.
Moneywise helped me consolidate all my debts into one easy manageable payment and saves me money in the process.
I like the online features and being able to check balance and transfer savings easily.
Moneywise has helped me pay for school trips and uniforms. I would not be without my credit union account.