Summary Box - Key Product Information:
|Account Name||30 Day Notice Account - Issue 2|
|What is the interest rate?||
|Can Monmouthshire Building Society change the interest rate?||
What would the estimated balance be after 12 months based on a £1,000 deposit?
|How do I open and manage my account?||
|Can I withdraw money?||
|Additional Product Information||
Terms and Conditions:
It is important that you read the following before deciding to open an account:
Product Terms and Conditions - 30 Day Notice Account (Issue 2)
1 - Account Opening
To open this account, you must be a UK resident (excluding Northern Ireland) aged 16 and above.
The account is limited to one account per customer and can be held on your own or jointly with someone else.
2 - Investment Limits
The minimum amount required to open this account is £1,000.
The maximum balance is £500,000 for a sole account (£1,000,000 for joint accounts).
3 - Further Investment
Additional deposits can be made as often as you like up to the maximum balance. Deposits can be made by cash (at a branch or agency), cheque, bank transfer or standing order.
4 - Withdrawals
Withdrawals and closure of the account require 30 days’ notice, which can be provided via branch/agency, telephone, post or online (by using ‘My Accounts’).
Withdrawals or closure without 30 days’ notice will be allowed, subject to 30 days’ loss of interest on the amount withdrawn. If there is insufficient interest to cover the charge, then the difference will be taken from the money in the account.
Withdrawals can be made by cash, cheque and electronic transfer, subject to our withdrawal limits. Details of our withdrawal limits are available at our branches, agencies and on our website www.monbs.com.
You can also make withdrawals by using the ‘My Accounts’ system at www.monbs.com.
Online withdrawals using the ‘My Accounts’ system are subject to further terms and conditions.
5 - Interest
Interest is variable and calculated on a daily basis on the balance in the account.
You can choose to have your interest paid annually or monthly.
Annual Interest can be added to your account or paid into another UK bank / building society account, or a suitable Monmouthshire Building Society account. Annual interest is paid following the close of business on March 31st each year. If annual interest is paid into the account and you subsequently withdraw the interest, the withdrawal of interest will be subject to the withdrawal conditions of this account.
Monthly Interest cannot be added to the account and must be paid into another UK bank/building society account in the name of the account holder. Monthly interest is usually processed on the last working day of each calendar month and paid following close of business. Interest for accounts opened on the last two working days of the month will be carried forward to the following month. If the account falls below the minimum balance, you may not receive any monthly interest payments.
6 - Terms and Conditions
These Product Terms and Conditions apply to this account in addition to our General Terms and Conditions for Savings Accounts. Where there is any inconsistency between the General Terms and Conditions for Savings Accounts and the Product Terms and Conditions, the Product Terms and Conditions will apply.