How will I find out about interest rate changes?
All our interest rates are available in our branches and on our website. There are times when we may need to change the interest rate on your account. If this happens, there are a number of ways we will let you know:
- If the interest rate on your account falls by more than 0.25% at one time, or by 0.50% or more over the previous 12 months, we will notify you
- If the interest rate on your account falls by 0.25% or less we will advertise the changes in at least one local and one national newspaper, in our branches and on our website
If you would like to find out more please read your General Terms and Conditions.
When interest is paid
Interest on your account is paid annually on 30 September by credit to the account.
Withdrawing your interest
You will be able to access your interest once it has been paid into your account on 30 September each year subject to the notice period.
Anyone wishing to open an account with the West Brom must confirm proof of their identity in accordance with the provisions of any relevant legislation or codes of practice relating to anti-money laundering activities. For the purposes of opening a 7 Day Notice Credit Union Deposit Account, we are required to obtain and record identification for the following: