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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 should I do if my passbook is lost or stolen?

Please inform us as soon as possible, at your local branch or by telephoning 01455 894060. Our team will confirm what you need to do in order for us to provide you with a replacement passbook.

We will cancel the lost passbook, which means that if you find it later, you will not be able to use it to make withdrawals. If there are any security issues around the loss of the book, we will transfer your funds to a new account and provide you with a new account number. We reserve the right to make a £10 charge for lost passbooks.

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

H&R Online is our web platform that allows you to view your savings and mortgage balances online.  It has been designed to be easy to use and has a range of useful features, including a secure private messaging service.

In addition, if you are an Offset Savings customer and pay your mortgage repayments by direct debit, you can also transfer funds to your nominated bank account.

Further details can be found by clicking the H&R Online button in the top menu bar or by clicking here.

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 offer this type of account.

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 telephone security 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.

Alternatively you can register for our online service, H&R Online where you can view your account balances and send and receive secure messages. To register for this service please click here.

*For information specific to how you can transact on our Business and Charity accounts please visit the relevant product page. Transaction information can be found within the summary box.

Business accounts

Charity accounts

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?

We do this to protect you against the risk of identity fraud and to comply with money laundering regulations.

We use an electronic verification system when you open a savings account, and if this is successful, that’s all we need to do. However, in certain cases (for example if you are not listed on the electoral roll or you have recently moved house) you will be asked to provide additional proof of identity.

If you are required to provide additional identification you must supply two items acceptable to the Society to verify your name and address. If you think you will need to provide identification, please click here for details of acceptable documentation or contact us to discuss.

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?

Interest rates are displayed in our branches, on our website here and are available at any time on request by calling 0800 434 6343.  If there is a reduction in the interest rate paid on your account you will be notified at least 14 days prior to the change taking place, unless your account tracks the Bank of England Base Rate.

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 a Treasurers account 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 this account.

For registered charities we also offer two carefully designed accounts, details of these can be found here.

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, paying funds into your account is easy and can be done directly from your bank account.

To do so you will need the Society’s bank account number 74575938, account name Hinckley & Rugby Building Society, and sort code 40-05-30.

Please ensure that your Hinckley & Rugby 11 digit savings account number is included as a reference or roll number (without this, we will not be able to allocate the payment to your account, and it may be returned to sender).

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 savers living within the following postcode areas: LE, CV, NN, PE, NG, DE, B, ST, WV, DY, WR, WS, OX15, OX16, OX17, LN4, LN5, LN6.