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Charity and Club/Treasurers Account

An account for Charities and Clubs or Associations.

Key features

  • A variable rate of interest of 0.01% Gross p.a./AER.
  • Minimum opening balance of £250; minimum operating balance of £1; maximum balance of £1,000,000
  • Easy access to your savings and unlimited withdrawals
  • If the balance falls below the minimum operating balance, no interest will be earned
  • Make additional deposits up to the maximum allowed
  • Interest is paid annually and paid to your account
  • This account is opened Direct and then operated through the Branch. This means that you open the account through the post and then you manage your account at a branch. You cannot use this account online.
0.01% Gross p.a./AER Variable
Interest Tier Annual
£1 - £1,000,000 AER 0.01% Gross 0.01%
View details

Summary Box

Account name

Charity and Club/Treasurers Account

What is the interest rate?

Interest Tier Annual Monthly
AER Gross AER Gross
Interest is variable and paid annually on 1 April.
£1 - £1,000,000 0.01% 0.01% N/A N/A

Can the West Brom change the interest rate?

We may change the interest rate we pay on the Charity and Club/Treasurers Account 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.

All our interest rates are available in our branches and on our website.

If you would like to find out more please read Sections 5d) and 5e) of your General Terms and Conditions.

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

If you saved £1,000 in the Charity and Club/Treasurers Account the estimated balance after 12 months would be £1,000.10.

This example assumes the initial deposit of £1,000 is made on 26 July 2021 and no further deposits or any withdrawals are made and there are no changes to the interest rate paid on the account over the 12 months. It is provided for illustrative purposes only and does not take into account your individual circumstances.

How do I open and manage my account?

This account is opened Direct and can be operated through the Branch. This means that you open the account through the post and then manage your account at a branch. You cannot use this account online.

You can open the Charity and Club/Treasurers Account with a minimum deposit of £250. The maximum balance is £1,000,000 and the minimum operating balance once the account is open is £1.

Additional deposits can be made at any time up to the maximum allowed. Please note: your passbook will be posted to your registered address once the account has been opened.

Can I withdraw money?

You can make unlimited withdrawals with no notice period or charge (subject to branch cash withdrawal limits).

If you would like access to your interest, you can do so once it has been paid into your account on 1 April each year.

Additional information

Interest on this account is paid Gross, without the deduction of tax.

Did you know?

Gross interest – Gross is the rate of interest without the deduction of tax.

AER – stands for Annual Equivalent Rate and this illustrates the amount of interest paid on your account if it were to be paid and compounded once a year. All rates quoted are correct as at 26/07/2021.

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.

Terms and Conditions

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.

Apply now

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)

Keeping your money safe

FSCS logo

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.

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