Charity Accumulator – 120 Day Notice

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.

Based on an initial deposit of £1,000.00, after a 12 month period the estimated balance would be £1,035.00.

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.

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).

Yes, but with this account you must give us 120 days’ notice. Instant withdrawals (without giving the required notice) are not allowed.

You can give us the required 120 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).

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.