Savings account funding guide

We use a payment provider called Modulr FS Limited. When making a payment or setting up payee details, you may notice a reference to Modulr finance

If we receive money from any account other than the nominated current account, we won’t be able to add the money to your account. We’ll return it to the account you sent it from and it might take up to five days. Remember, your nominated account must be a current account and not a savings account.

You may be asked to enter a ‘Payee name’ – please use your full name. Please use ‘Hodge Bank’ as the ‘reference’.

You’ll need to send money by electronic transfer from the nominated current account you gave us during your account application. We don’t accept payment by cheque.

The minimum deposit amount for Hodge savings accounts is £1,000 except for our Easy Access account, which is £1.

You can make as many deposits as you like into your Easy Access account, as long as they come from your nominated current account and your account balance doesn’t go over £250,000. Your total balance in all Hodge accounts must not exceed £5,000,000.

If you don’t want to register for online banking with Hodge, the only option when your account matures is to close it. We can’t accept reinvestment instructions by phone, so online banking is the only way to manage your account. If you’re sure you don’t want to go online or can’t use the system, give us a call to begin the process of closing your account and returning your money.

Yes, you can make additional deposits to your Notice Account, as long as they come from your nominated current account.

Your nominated current account is the account you register with us when you open your Hodge savings account, and is the one you’ll use to send money to and from your new Hodge account. Your nominated account must be a UK current account, and not a savings account.

To help keep your money safe and protect against fraud, we’ll only accept deposits from this account, and we’ll always transfer money back to it too – whether that’s interest payments, withdrawals, or maturity. If your nominated current account changes because you switch banks, let us know as soon as possible.