An easy access deposit account with competitive interest rates, this account is suitable for all forms of Corporate Bodies. It is specially tailored for the company investor looking for a savings account with no notice or penalties for withdrawals.
Minimum balance £100
Maximum balance £250,000
Investments above the maximum are by arrangement.
Contact us for a Companies Deposit application form.
OPERATING THE ACCOUNT
Any number of further deposits can be made into the account subject to the maximum investment.
There is immediate access to your investment without notice or penalty,however you will need to give us 24 hours to arrange an electronic bank transfer.
Withdrawals can be by cheque, payable to the company, or by bank transfer to the companys account. (A fee is payable for CHAPS withdrawals). Cash and third party withdrawals are not available.
As a savings deposit account the number of transactions should be restricted.
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. We maintain interest rates at a competitive level.
Interest is paid after tax at the rate specified by law has been deducted, or gross if the HMRC form 38 (INP) has been completed and returned to us. 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 Companies Deposit account you will not become a member of the Society but will be bound by its Rules and Terms and Conditions.
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 Societys General Terms & Conditions.
