Notes relevant to all the Society’s Savings Accounts
Please read these notes if you are considering opening a Savings account with Hinckley & Rugby Building Society.
Savings accounts are only available to customers who reside in the United Kingdom.
For accounts where cash withdrawals are allowed, the maximum cash withdrawal limit is £500 per day.
The maximum total investment allowed with Hinckley & Rugby Building Society is £300,000.
We do not permit withdrawals to be paid out of your Savings account by direct debit, standing order or faster payment.
Further information on how to contact Action Fraud, the UK’s national fraud reporting centre, can be viewed by clicking here.
Also available by clicking here is a leaflet called ‘You and Your Joint Account’ which will give you details on opening and operating a joint account.
The Money Advice Service (MAS) provides an online financial health check service for UK consumers, based around a series of multiple choice questions on personal budgets. The health check produces an action plan, which highlights the top three things a consumer can do to make the most of their money immediately, together with an action plan for future goals. The service can be accessed by clicking here.
The Society’s Bank Details
If you wish to pay your salary into your Savings account, the following details will need to be quoted:
Sort code: 402419
Account number: 81228218
Also your unique 11 digit account number Savings Account number
(this can be found in your passbook)
This account cannot be used for the payment of direct debit, standing orders or faster payments.
Income Tax for Single and Joint Account Holders
With effect from 6 April 2016, interest will be paid on savings accounts without any deduction being made in respect of personal Income Tax liability.
If You Change Your Mind
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.
Savings Account Terms & Conditions
You can view the Society’s Savings Account Terms & Conditions that apply to every transaction that you undertake on the account after it has been opened.
Deposit Guarantee Scheme
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.
We aim to provide high standards of service however if you feel that you may have a complaint, please click here for information.
You should refer to the Savings Account Terms & Conditions (which can be viewed by clicking here), Membership Rights section, to decide who is to be the Society’s member with investing membership rights.
The first named account holder will be the Society’s member with investing membership rights. The Savings Account Terms & Conditions can be viewed by clicking here.
The Society’s non-transactional charges
£10 when a cheque receipt or direct debit is returned unpaid
£5 for providing a duplicate statement for each year prior to the current financial year
£25 for telegraphic transfer of funds from an account (CHAPS fee)
£10 for stopping a cheque
£10 for access to data (Data Protection Act)
£10 to replace a lost passbook
£10 to request a copy cheque
£25 administration fee for transfer of ISA account to another financial institution – to view the BSA’s consumer leaflet ‘Transferring your Cash ISA’ please click here
These charges may change in the future. Any change will be made in March of each year. You will be told about the changes anytime you ask our staff and before you use the service.
Other Costs, Charges and Taxes
There may be other taxes or costs that are not paid through us or charged by us.