General Terms and Conditions

Easy Access Savings Accounts

  • Member Savings
  • Junior Savings
  • Christmas Club
  • GMB Branch Savings


Minimum and Maximum Deposits

  • Minimum opening deposit £5.00
  • Maximum savings per member £20,000


Who can apply

  • Members and their immediate family
  • Branches of the GMB
  • Individuals 18 years or older
  • Junior Savings - accounts are opened in the child's name but remain under adult control until 18


Paying In

  • Flexibility to make regular payments by Direct Debit, Standing Order or lump sum deposits by bank transfer.


Taking Money Out

  • Withdrawals are by BACS transfer to a member’s nominated bank account which takes two working days.
  • Christmas Club balances are paid out in the first week of December annually.


Account Statements

  • Statements on request by post or email.
  • Members can also view their statement, by registering for balance enquiry via our web site.


Dividend/Interest and Charges

  • All easy access savings accounts are eligible for a dividend which is paid annually in the April following agreement on the dividend at the AGM.
  • The dividend is calculated on the daily balances over the year 1st Jan - 31st Dec. There are no fees or charges



  • Dividends are paid gross.
  • Your liability to pay tax depends on your individual circumstances.



  • Deposits are covered by The Financial Services Compensation Scheme (FSCS) up to £85,000.


Regulatory Information

  • GMB is authorised and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Reference number 213550


Contacting Us

Telephone: 0161 486 1777