Corporate Platinum Account - Terms & Conditions (closed account)
Specific Terms and Conditions for the Corporate Platinum Account
1) This account is only available to corporate clients of Monmouthshire Independent Financial Advisers Ltd. To qualify an account can only be opened if recommended by one of our Advisers following a full review of your financial circumstances. You will be able to operate your account through the Monmouthshire Building Society.
2) The minimum investment amount is £50,000; the maximum investment amount is £400,000. If a withdrawal reduces the balance to less than the minimum balance per account of £50,000, you will have 30 days from the date we issue you with a notice to bring the balance up to the minimum. If after the notice period has lapsed the balance remains below the minimum, we may close your account without further notice. As this is a savings account, you are only allowed up to 150 withdrawals during each year (ending 31 March). If you make more than 150 withdrawals we will give you two month’s written notice following which we will close the account.
3) Interest is paid net of Income Tax at the specified rate. It can be paid gross if you are eligible, and you will need to complete the appropriate Inland Revenue form.
4) Interest is calculated on a daily basis on the balance in the account and paid or added to the account following the close of business on the 31 March each year. Interest can be paid monthly to a suitable bank / building society account (or suitable Monmouthshire Building Society account) following the close of business on the last day of each calendar month.
5)The interest rate applied to this account varies according to the balance held. The interest is variable and calculated daily on the balance in the account. The interest rates on both account types are tiered, so the more you save the higher the rate of interest you receive. Details of the current rates can be found in our interest rate leaflet.
6) You may add to your savings at any time, just call into your local branch of the Monmouthshire Building Society with your passbook and deposit. If it is more convenient you can post your deposit or save through a Direct Debit or standing order from your bank account.
7) You can withdraw from your account without giving notice subject to the limits of the branch or agency you use. Details of our current withdrawal limits are displayed in branches, available from our website or our Head Office.
8) These Specific Terms and Conditions apply to this account in addition to the Monmouthshire Building Society’s General Investment Terms and Conditions. Where there is any inconsistency between the General Investment Terms and Conditions and the Specific Terms and Conditions, the Specific Terms and Conditions will apply.