With easy access and competitive interest rates, this account is for investors eligible to receive their interest gross, such as charities, pension funds and friendly societies.
Minimum balance £100
Maximum balance £250,000
Contact us for a Charities / Gross Rate application form.
OPERATING THE ACCOUNT
Any number of further deposits can be made into the account subject to the maximum investment.
Withdrawals can be made at any time with no notice or loss of interest,however you will need to give us 24 hours to arrange an electronic bank transfer.
Cash withdrawals are subject to daily branch cash limits.
The account can be operated either in person at our branches or by post.
INTEREST RATES
Interest can be paid annually at 31st December or at the end of each month either into the account or to another bank account. Different interest rates apply for each method.
The interest rates are tiered, so the more you invest, the more interest you can earn.
Interest rates are variable and we may change them at any time.
Interest is paid gross of basic rate tax, provided that the Declaration, to be found on the application form, has been completed. The Society is required each year to supply to the HMRC particulars of all interest paid or credited to investors.
IDENTIFICATION
Identification will be required for both the organisation and the persons operating the account. Go to the Important Information page for full details of our personal identification procedures. The application form contains identification required for the organisation.
Please note that, for legal reasons, we are unable to open an account unless we can verify your identity.
OTHER INFORMATION
Upon opening a Charities / Gross Rate account you will automatically become a member and be bound by the Societys rules.
All new savers opening share accounts must agree to assign any future windfall rights to the Charities Aid Foundation. The application form has further details.
The Society operates a 14 day cooling off period, so if you change your mind about opening this account you will receive all your original capital plus any interest accrued.
The Society reserves the right to suspend or amend an account issue at any time and potential investors should check that the required issue is still available.
This account is subject to the Society's General Terms & Conditions.
