Frequently asked questions

We strive to keep our products straightforward and easy to understand and to keep terms and conditions to a minimum. However, there may be questions you want to ask that are not answered elsewhere within our website.

Here we answer some of the more frequently asked questions:

Saving FAQ

What age can I have an ISA (Individual Savings Account)?

Anyone aged 16 or more who is UK resident can open a Cash ISA.

Junior ISA accounts are available to young savers up to the age of 16 however the Society does not currently offer this type of account.

Does Hinckley & Rugby’s Offset Savings account offer online banking facilities?

H&R Online is our web platform that allows you to view your Offset Savings and Offset Mortgage balances online. If you pay your mortgage repayments by direct debit, you can also transfer funds to your nominated bank account. In addition, you will be able to add any other savings accounts you hold with us and view those balances too.

When your mortgage has completed you will be sent details of how to register.

What can I do if I have difficulty visiting one of your branches or agencies?

All of the Society’s savings accounts can be operated by post. Simply post your passbook to any branch or agency, together with any cheques you wish to credit to your account and/or your written request to withdraw funds by cheque. Cheques can be made payable to any payee you choose, but please do not forget to sign your withdrawal request in accordance with your account mandate. We will return your updated passbook to your home address by first class mail together, with any cheques that you have asked us to draw (please note that we cannot forward cheques direct to third parties).

What if I wish to complain about my savings?

We aim to provide high standards of service. However, there may be occasions when you feel that you may have a complaint, if so please click here for information on our complaints policy and procedures.

Can you give me a balance or do transactions over the phone?

We are unable to take transaction instructions over the telephone on our savings accounts*, however if you have set up a security password with the Society we will be able to provide you with certain information regarding your accounts.

If we are unable to divulge the information you require over the telephone we will write to you confirming the details you have requested.

*For information specific to how you can transact on our Business 30 Account see product page and select the ‘transactions info’ tab. For Offset Savings please call 01455 894060.

 

 

Can I open a joint account with my husband/wife/partner?

There are two options for how the account is set up: 1. Both signatures – this means that for any withdrawal or on closure of the account, both of you will be required to sign the forms. 2. Either signature – this means that for any withdrawal or on closure of the account only one signature is required. You should only open a joint account if you and the other account holder understand the commitments you are entering into. ISA accounts can only be opened in sole name.

Why do you check my identity when I open an account?

In order to comply with the Money Laundering Regulations and to protect you against the risk of identity fraud we will ask you for proof of your name and address when you open an account with us . Please be assured that the checks that we make do not mean that you are under suspicion.  Money laundering is the method criminals use to disguise the money they make from crime and all financial institutions must have procedures in place to stop criminals from using them to launder their “dirty” money.  Further information is available in a leaflet “Proving your identity”,which can be viewed by clicking here

What happens if I change my mind after opening an account?

If, within 14 calendar days of investing your first payment with us (excluding public holidays) you consider you have made a mistake then, once you have notified the Society’s Principal Office in writing or by e-mail, the Society will help you switch accounts or arrange to reimburse your money (if cleared funds) and will waive any notice period or interest charges. (Please note that this will not apply to fixed rate accounts.) We will assist you in moving accounts.

How am I told of changes in interest rates?

Any changes in interest rates will be advertised on a notice in our branches and in the Leicester Mercury and Coventry Evening Telegraph within three days of the change unless you receive a personal notification of the change of interest rate. Interest rates are available at any time on request on our helpline 0800 434 6343 or on our website.

How long does it take to clear a cheque paid into my account?

When you pay a cheque into your savings account our normal working practice will be to allow withdrawals from the start of the sixth business day following the day of deposit. Funds are available for immediate withdrawal for all other types of deposit. Business day means a day other than a Saturday, Sunday or Bank Holiday. The day of deposit is the day it is paid in at a branch or agency or it is received by us in the post.

I am a Treasurer for a local society. Can I open an account for their funds?

We are happy to open accounts for unincorporated clubs and associations including registered charities. Please ask at one of our branches or agencies or call our helpline on 0800 434 6343 for details of our Treasurer’s Deposit account.

Are my investments safe with the Hinckley & Rugby Building Society?

At the Hinckley and Rugby the safety and security of our members’ savings has been, and always will be, our number one priority. This is reflected in the Society’s prudent approach to mortgage lending (resulting in a mortgage book of the highest quality)

Does the Hinckley & Rugby participate in the Financial Services Compensation Scheme?

Yes. Hinckley & Rugby Building Society is covered by the Financial Services Compensation Scheme (FSCS). The FSCS will pay compensation to eligible depositors if a building society is unable to meet its financial obligations.

Your eligible deposit is covered by a statutory Deposit Guarantee Scheme.  If insolvency of your bank, building society or credit union should occur, your eligible deposits would be repaid up to £85,000 by the Deposit Guarantee Scheme.

For further information about the limit of protection, temporary high balances, joint accounts, reimbursement and exclusions from protection please view our Deposit Guarantee Scheme Information Leaflet.

 

How can I protect myself against fraud?

Please see advice relating to fraud prevention by clicking here

 

What are the opening times of your branches?

Please refer to our Branches page for full details of our opening hours.

How is interest calculated?

Interest is calculated on a daily basis up to and including the day before any withdrawal. For cheque receipts, interest is paid from the day after the cheque is deposited with us. For cash and automated credits, interest is paid from the day of receipt. The day of deposit is the day it is paid in at a branch or agency or it is received by us in the post.

Can I pay money/wages into my account by BACS, Faster Payments or Online Banking?

Yes. You need to use the following details: Account number: 81228218; Sort Code: 402419; Ref No: 11 digit account number shown in your passbook. Funds are available for immediate withdrawal.

Can I open a savings account even though I live outside your local area?

All our savings accounts are available to any UK resident with the exception of Plain Sailing Easy Access and Starter 4 Ten accounts. These accounts are only available to investors living within the following postcode areas: LE, CV, NN, PE, NG, DE, B, ST, WV, DY, WR, WS, OX15, OX16, OX17, LN4, LN5, LN6.