Branches & agencies
Charity Accumulator – 90 Day Notice
Our Charity Accumulator – 90 Day Notice is a charity savings account offering a variable rate of 2.80% Gross/AER. Incorporated and Unincorporated UK Registered Charities can save between £1,000 and £500,000, with withdrawals available by giving 90 days’ notice. Interest is paid annually, and charities can also access support and guidance from Hinckley & Rugby where needed.
| Rate | 2.80% Gross /AER |
|---|---|
| Access | Yes Subject to 90 days' notice |
| Interest | Annually |
| Minimum Investment | £1,000 |
Savings are protected by FSCS
Independently reviewed by Smart money people
Is this 90 Day Notice Charity Savings Account right for you?
This Charity Accumulator – 90 Day Notice is good for you if
- You’re an Incorporated or Unincorporated UK Registered Charity
- Your charity has £1,000 or more to save
- You can give 90 days’ notice before withdrawing money
- You don’t need instant access to your charity’s savings
- You’re comfortable with a variable rate of interest
Consider something else if
- Your charity has less than £1,000 to save
- You need instant access to your savings
- You want to lock your charity’s savings away at a fixed rate
- You’re looking for a personal savings account
- If you’re not a registered UK charity
About this account
Account name: Charity Accumulator – 90 Day Notice
What is the interest rate?
This account offers a variable rate of interest as follows:
| Interest Rate | Minimum Balance | Gross* | AER** |
|---|---|---|---|
| Annual | £1,000 | 2.80% | 2.80% |
Interest will be paid to the account on 1 December each year.
Can Hinckley & Rugby Building Society change the interest rate?
We may change interest rates at any time if we reasonably believe that the change is needed, for any of the reasons outlined in the Savings Account Terms and Conditions booklet, Condition 7.
What would the estimated balance be after 12 months based on a £1,000 deposit?
Based on an initial deposit of £1,000.00, after a 12 month period the estimated balance would be £1,028.00.
These figures are provided for illustrative purposes only and assume that no further deposits or withdrawals are made and there is no change in interest rate. They do not take into account individual circumstances.
How do I open and manage my account?
Available to Incorporated and Unincorporated Registered Charities.
This account can be opened by post or at any of our branches and agencies. Simply complete the application form and take it with your opening deposit* and ID documents, or post them to us at the address in this brochure.
We require at least two signatories operating the account, with a maximum of four. Incorporated charities must have at least one Director as a signatory to the account.
*The minimum deposit required to open and maintain this account is £1,000 and the maximum deposit is £500,000. The opening deposit must be by a cheque drawn on the charity’s nominated bank account and payable to your charity name, or by electronic transfer from the charity’s nominated bank account. It must be credited to the account within 5 business days of the account being opened, or the application process will need to be restarted.
You can manage your account at any of our branches or agencies, by phone, or by post. You can also manage your account online: on our app or by using H&R Online on our website (after registering for the service).
Can I withdraw money?
Yes, but with this account you must give us 90 days’ notice. Instant withdrawals (without giving the required notice) are not allowed.
You can give us the required 90 days’ notice in writing, by phone, by visiting a branch or agency, or on our app or by using H&R Online on our website (after registering for the service).
Withdrawal requests for Faster Payment transfers will be processed and credited to your bank account on the first business day the funds are available. Requests for cheques must be submitted in writing or by visiting a branch or agency.
All Faster Payments must be made to the charity’s nominated bank account from which the funds to open the account were drawn.
All withdrawals are subject to our daily limits, as outlined in our Savings Account Terms and Conditions booklet.
Note that you cannot give notice to withdraw an amount greater than the balance of your account at the time of giving notice (taking into account any other notice period already being processed).
Additional information
Interest is paid gross without tax deducted.
* Gross rate – the annual rate of interest payable without any deduction of tax.
** AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once a year.
Important Documents
90 Day Notice Charity Savings Account FAQs
What is a 90 Day Charity Notice Savings Account?
A 90 Day Notice Charity Savings Account allows a charity to save while retaining access to its money, provided 90 days’ notice is given before making a withdrawal. Instant withdrawals are not available with this account.
Who can open the Charity Accumulator – 90 Day Notice?
The account is available to Incorporated and Unincorporated UK Registered Charities.
How much can my charity save in this account?
The minimum deposit required to open and maintain the account is £1,000, and the maximum balance is £500,000.
Can my charity withdraw money from this account?
Yes, but you must give 90 days’ notice before making a withdrawal. Instant withdrawals without the required notice are not available.
How can my charity give 90 days’ notice to withdraw money?
Notice can be given in writing, by phone, by visiting a branch or agency, through the mobile app or by using H&R Online after registering for the service.
Is the interest rate fixed on this charity savings account?
No. The Charity Accumulator – 90 Day Notice pays a variable rate of interest, which means the interest rate may change. Interest is paid annually on 1 December.
What if my charity is happy to give more than 90 days’ notice?
If your charity does not need access to its savings within 90 days, you may want to consider one of our other charity accounts available.
Identification Requirements
Identification Requirements for this 90 Day Notice Charity Savings Account
We need to confirm the identity of the charity and each signatory in order to protect you against fraud and to comply with legislation. You are required to provide the following documentation to open a Charity Accumulator 90 Day Notice Deposit Account:
- A Resolution authorising named signatories to open the account. The Resolution must include the full names of all signatories and be signed by an official of the charity.
- We will also verify the identity and operation of the charity with the relevant Charity Commission.
- If incorporated, we will verify the identity of the company and directors with a Companies House search.
- We need to confirm the identity of each authorised signatory operating the account. We use an electronic verification system when opening an account. If this is successful, you will not need to do anything. However, in certain cases you will be asked to provide additional proof of identity (for example if you are not listed on the electoral roll or you have recently moved house).
If you are required to provide additional identification, you must supply two items acceptable to the Society to verify your name and address. The Society will be unable to open your account until we have completed identification procedures.
If you think you will need to provide identification, please visit Proving your identity for details of acceptable documentation or contact us 0800 434 6343.
Protecting your money
Your eligible deposits with Hinckley & Rugby Building Society are protected up to a total of £120,000 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme. Any total deposits you hold above the limit are unlikely to be covered.
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