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An account for Charities and Clubs or Associations.
| 1.00% Gross p.a./AER Variable | |
| Interest Tier | Annual |
| £1 - £1,000,000 | AER 1.00% Gross 1.00% |
Charity and Club/Treasurers Account
| Interest Tier | Annual | Monthly | ||
|---|---|---|---|---|
| AER | Gross | AER | Gross | |
| Interest is variable and paid annually on 1 April. Interest can be added to the account or paid into another account. There is no monthly interest option with this account. | ||||
| £1 - £1,000,000 | 1.00% | 1.00% | N/A | N/A |
The interest rate is variable, so it can go up or down at any time.
If the interest rate on your account falls, and the balance in your account is £100 or more, we will personally notify you of the change.
For details about why we may change the interest rate, as well as how and when we’ll let you know, please refer to sections 5d) and 5e) of our General Terms and Conditions.
All our interest rates are available in our branches and on our website.
|
Deposit amount |
Estimated value after 12 months |
|
£1,000 |
£1,010.00 |
This example assumes:
This example is provided to help you compare savings accounts and does not take into account any individual circumstances.
You can only open this account by post. You cannot open this account over the phone, in branch or online.
The minimum opening deposit is £250. The maximum balance is £1,000,000 and the minimum operating balance once the account is open is £1.
Once open, you will manage this account in any of our branches with a passbook. Please note, your passbook will be posted to your registered address.
Our savings portal is available for all accounts which have been opened in a branch, by post/telephone or via our website. For more information about how to register for our savings portal and the access our savings portal provides, please visit www.westbrom.co.uk/savingsportal
You can pay any amount into your account, up to the maximum account balance. You can:
You can make as many withdrawals as you like from this account with no notice period or charge (subject to the branch cash withdrawal limits which are on display in our branches).
If you change your mind after you’ve opened your account, don’t worry. If you tell us within 14 calendar days, we’ll give you your money back with interest straightaway
We pay your interest gross. The gross rate is the interest payable before the deduction of tax.
You should also read the Specific Terms and Conditions and the General Terms and Conditions which relate to this account.
Gross interest – is the rate of interest payable before the deduction of tax.
AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. All rates quoted are correct as at 12/07/2023.
Identification – when you open an account with the West Brom we may need to confirm your identity, as well as the organisation you represent. For full details on why this is required and the types of identification accepted please refer to the 'Important information on identification' page for Charities and Clubs/Associations.
Personal Savings Allowance – the Personal Savings Allowance was introduced on 6 April 2016 and means that the first £1,000 of overall savings interest for basic rate taxpayers and the first £500 for higher rate taxpayers are free from income tax. (There is no allowance for additional rate taxpayers.) From this date, we stopped deducting any tax from the interest paid to you (ISAs are tax-free). You are responsible for paying any tax due to HM Revenue & Customs (HMRC). For further information about the Personal Savings Allowance, please contact your local HMRC office.
Protection for savers – your eligible deposits with the West Brom are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits held above the limit are unlikely to be covered. You can visit www.fscs.org.uk for more information.
Here you will find both Product Specific and General Terms and Conditions.
The information provided in the Summary Box is a summary of the key features of the Charity and Club/Treasurers Account. You should also read the Specific Terms and Conditions and the General Terms and Conditions which relate to this account.
Download and complete your application form, then send it to us at:
FREEPOST THE WEST BROM
(Please note: this freepost address must appear in uppercase and no further address or stamp are required)
Use our branch finder to find your nearest branch.
Your eligible deposits with West Bromwich Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the £85,000 limit are not covered.
