Why are we making these changes?

Simplifying our services helps us provide efficient and easy to use savings accounts. We’re investing members’ money into payment services that we know are important to members.
If you do not have any Direct Debits or standings orders, or use a LINK card, these changes will not affect you, and you don’t need to do anything.

What's on this page?

Summary of changes to Offset savings accounts

Key dates for changes to your savings accounts

Expired LINK cards will not be renewed.
28 February 2026
The last date an account switch can be requested from your current account provider.
1 June 2026
The last date Direct Debits and standing orders will be paid from you savings account.
24 June 2026
LINK card cash withdrawals will stop.
24 June 2026
Open Banking access will end.
24 June 2026
Foreign money transfers not accepted.
No longer available.

How the changes could affect you

Direct Debits and standing orders will stop

You will need to move or switch any Direct Debits and standing orders to a current account. CBS do not offer current accounts.

How do I switch any Direct Debits or standing orders?

You can choose to:

Switch them yourself

Setting up new Direct Debits - Contact the company you’re paying and give them the new current account details for the payment you want to set up. You don't need to wait, you can set these up now.
Setting up standing orders - You can set up standing orders yourself through your current account before 24 June 2026.
If you set up your standing orders now, make sure to cancel any from your Offset savings account.

Request a switch

Your current account provider can switch your payments for you. CBS are not part of the Current Account Switching Scheme, so if you ask your current account provider to switch these payments for you, ask for a "manual" switch.

 

Manual switches can take several weeks.


Manual switches will not be accepted after 1 June 2026.

How the changes will affect my payments

What will happen if I do nothing?

If you do not make the changes to payments from your Offset savings accounts, your payments will be missed. This could mean you may be charged for late payment by whoever you’re paying. Missing payments can affect your credit rating.

Direct Debits from your CBS Offset savings account will be cancelled from 24 June 2026. You will need to pay your mortgage from a different account.

 

What happens now?

Once you have decided where your mortgage payment will come from, call us on 0345 166 9209 to update your Direct Debit details. You need to do this by 10 June 2026.

You can still pay money into your Offset savings account.

Yes, you can still make payments from your Offset savings accounts online, over the phone or in any of our YBS branches or agencies.

 

What happens now?

If you're already registered for online access you can still make payments from your Offset savings account. If you would like online access, you can register now.

 

You can still use you local branch or agency to make payments or pay into your Offset savings account or YBS mortgage.

Register for online services

Instant secure access to your accounts.


You’ll need:

any of your CBS account numbers
access to a phone number or email address linked to your account.

Branch and agency finder

How to find and contact us.

Other changes to Offset savings accounts services

No. You will no longer be able to use your LINK card to withdraw cash from 24 June 2026.

 

What happens now?
If your current LINK card expires after 28 February 2026, we will not automatically issue you with a new one. If you want a replacement card to use up until 24 June 2026, you can request one by calling 0345 1200 300.

 

You can still use a passbook record card to make cash payments and withdrawals over the counter at any YBS branch or agency.

Yes. We no longer accept foreign money transfers into any CBS savings account.

 

What happens now?
You’ll need to make foreign money transfers into another account with a bank or building society that allows this service.

If you feel your Offset mortgage is no longer right for you, please speak to our dedicated Mortgage Team. They can discuss your options and how they can help.

 

What happens now?
If you decide to change your mortgage to a different type of product with us or another mortgage provider, you won’t need to pay any early repayment charges. To discuss this or any other changes to your mortgage, call us on 0345 166 9209.

Get in touch

Call us

Monday to Friday 9am - 5pm

Saturday 9am - 1pm

Calls to 03 numbers are charged at the same rate as 01 or 02 from all phones.

Message us

If you would rather contact us via secure message, you can log into your account and get in touch.

Other organisations that could help

We understand these changes may have a significant impact on some customers. You can speak directly to us. These are some websites than can offer you advice and support.

 

Find out about opening a current account elsewhere:

moneyhelper.org.uk/en/everyday-money/banking - It can help you find the right account for you, including a list of standard accounts.
For more information about moving your goverment pension or benefits payments to a different account - gov.uk/contact-pension-service
The UK goverment offers guidance on moving Universal Credits to a new account.
gov.uk/universal-credit/change-of-circumstances

Top tips to keep your money safe

STOP Take a moment to stop and think before parting with your money or information. It could keep you safe from criminals.

 

CHALLENGE Could it be fake? It’s okay to reject, refuse or ignore any requests.

 

PROTECT Contact us immediately on 0345 120 0805 if you think you’ve been scammed and report it to Action Fraud at actionfraud.police.uk or on 0300 123 2040

 

More support available: thechelsea.co.uk/security