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Charity Accumulator Easy Access Deposit Account

Working hand-in-hand for your charity’s benefit

At Hinckley & Rugby Building Society we have been supporting both local and national charities for years and have taken that backing to another level with the launch of our Charity Accumulator deposit accounts.

We can identify with the aims and objectives of charities because helping people – to save or to buy their home – is built into us as an organisation, with the guiding principles of mutuality at our heart.

We are all interested in making the most of our money but that is particularly important for a charity, where every single penny counts.

Our Charity Accumulator deposit accounts – available in both Easy Access and 90 Day Notice versions – have been designed to do just that and are available for both incorporated and unincorporated registered charities.

Hinckley & Rugby’s pledge to charity

Investing in our Charity Accumulator deposit accounts gives you access to much more than a safe place where your charity’s funds can grow at a good rate of interest.

Hinckley & Rugby has been giving back to the communities it serves throughout Leicestershire and Warwickshire for years and offers the same support – and more – to the charity sector.

We are keenly aware that charities sometimes struggle to find and fund the specialist skills they need and that we, as a financial institution, have the experience and knowledge to plug those gaps.

For instance, some of our staff already volunteer their time as charity trustees, offering support, advice and expertise, and we are open to similar approaches.

It could be that your charity simply needs some guidance on a particular aspect of running the business, whether it’s related to HR, IT, accounts or marketing, and we may be able to help.

Or, if your charity is based locally to us, we may be able to offer you some valuable meetings space at our Hinckley head office or one of our larger branches.

The offer of assistance is part of our pledge to charities that choose to invest in our Charity Accumulator savings accounts. All you have to do is ask for our help by contacting us direct on 01455 251234.

We are here to support our local community and have substantial knowledge, skills and experience of running a business to share. These are areas where we may be able to help

Colin Fyfe
Chief Executive

With effect from 25 February 2021

Summary box
Key product information for this account. For your own benefit and protection, you should carefully read the Savings Account Terms and Conditions booklet.
Account Name
 Charity Accumulator Easy Access Deposit Account
What is the interest rate?

The interest rate is variable, currently 0.15% gross*/AER**. Annual interest will be paid to the account on 1 December each year.

Min InvestmentAnnualMonthly
Gross AER Gross AER
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 reasons outlined in the Savings Account Terms and Conditions booklet, Conditions 7.5 and 7.6.

What would the estimated balance be after 12 months based on a £1,000 deposit?

Assuming that no further deposits or withdrawals are made and there is no change in interest rate, after a 12 month period the estimated balance would be £1,001.50.

These figures are provided for illustrative purposes only and do not take into account individual circumstances.

How do I open and manage my account?

Available to Incorporated and Unincorporated Registered Charities.

Complete the application form, including the declarations, and send in your application and declaration form, opening deposit and the required identification documents to Hinckley & Rugby Building Society, Savings Department, Upper Bond Street, Hinckley, Leicestershire, LE10 1NZ. Alternatively, take the documentation into any of the Society’s branches.

Please note that we will always 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 £500 and the maximum deposit is £500,000.

You can manage the account by telephone, at any of our branches or by post.

Can I withdraw money?

Withdrawals can be made at any time without notice or penalty. The minimum withdrawal is £250 by cash, cheque or electronic funds transfer to the charity’s nominated bank account. The cash withdrawal limit is £500 per day.

Electronic funds transfer:

Withdrawals up to and including £250,000 – if the request to transfer funds is made by 2pm on a business day, funds will be in the charity’s nominated bank account by the next business day. For requests made after 2pm on a business day, the funds transfer will be made the next business day and the funds will be in the charity’s nominated bank account by the following business day. No charge will be made for this service.

Withdrawals over £250,000 by request – if the request to transfer funds is made by 2pm on a business day, it will be actioned that day with funds guaranteed to be received into the charity’s nominated bank account that same day. If the request is made after 2pm on a business day, the funds transfer will be made on the following business day with funds guaranteed to be received into the charity’s nominated bank account that day. There is a charge for this service (please refer to the current tariff of charges in the Interest Rates for Savers leaflet or on the Society’s website

Withdrawal requests can be made by telephoning the Charity Account Helpline on 01455 894060 or by visiting one of the Society’s branches.

Money can be paid out against a cheque used to open the account from the start of the sixth business day following the day of deposit. Funds will be available for immediate withdrawal for all other types of deposit. Business day means a day other than a Saturday, Sunday or Bank Holiday.

Additional information

Interest is paid gross without tax deducted.

* Gross rate – the annual rate of interest to be paid on a savings account without any deduction of Income Tax liability.

**AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each month

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 automated credits and cash, interest is paid from the day of receipt.

Each year on I December the interest earned will be credited to your Charity Accumulator Easy Access Deposit account. Alternatively, it can be paid to a bank or building society account.

Hinckley & Rugby is required to submit certain interest payment details to HM Revenue & Customs.

Enquire about Charity Accumulator Easy Access Deposit Account

Thank you for your  interest in our Charity Accumulator Easy Access Deposit Account.

If you would like us to post you a brochure and application form please use the enquire button below and complete your details

Enquire about the Charity Accumulator Easy Access Deposit Account account

Thank you for your interest in our Charity Accumulator Easy Access Deposit Account.

Please note this account is only available to UK Incorporated and Unincorporated Registered Charities.

To apply for this account, please complete the boxes with your name, email address and telephone number, then read the Society’s Savings Account Terms and Conditions, Interest Rates for Savers and the identification requirements for charity accounts (see below) and tick the box to confirm you understand them. Please also view the Deposit Guarantee Scheme Information Leaflet and Summary Privacy Notice and tick the second box to confirm you have seen them.

Please then click ‘Submit’ to obtain an application form and declaration for this account which you should print, complete and return to:

Savings Department
Hinckley & Rugby Building Society
Upper Bond Street
LE10 1NZ

Please ensure you have enclosed the following with your completed application form and signed declaration:

  1. The minimum deposit to open an account is £500. The opening deposit must include or be fully made up of either a cheque drawn on the charity’s bank account, made payable to your charity name, or by electronic funds transfer from the charity’s bank account. Contact us on our Charity Account Helpline number 01455 894060 for further account details if you wish to open your account by electronic funds transfer.
  2. The required identification as detailed below.
  3. 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.
  4. A list of all the Directors, including names, titles, addresses, dates of birth and nationalities (Incorporated Charities only).

    Savings Apply: Charity Accumulator Easy Access Deposit Account

Savings type

This product belongs to the following type of savings:
Charity Accounts