Savings
Whether you’re looking for instant access, annual bonuses or tax-free savings, we have an account that will help you achieve your savings goals.
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Whether you’re looking to buy your first home, move somewhere bigger, or simply get a better deal, we can offer a mortgage that suits you.
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About Us
Established in Newport in 1869 to help local people build homes, we now help people across Wales and England buy properties and save for their future.
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Get in touch
Telephone
01633 844 330
Smart Tracker 30 Day Notice Account (Issue 2)
If you are looking for a variable savings account that allows some access then this may be for you. The Smart Tracker 30 Day Notice Account tracks against the Bank of England Bank Rate meaning if there is a change in interest rates, the rate of interest you receive could go up or down.

Available in England and Wales.

Summary Box - Key Product Information:

Account Name Smart Tracker 30 Day Notice - Issue 2
What is the interest rate?
  • 1.30% AER/Gross – variable interest rate.  ­
  • The account tracks above the Bank of England Bank Rate (currently 0.75%) plus a fixed margin of 0.55%.
  • Interest is variable and calculated on a daily basis on the balance in the account and paid annually following close of business on March 31 each year.
  • To access and monitor the Bank of England Bank Rate visit www.bankofengland.co.uk
Can Monmouthshire Building Society change the interest rate? 
  • Yes - the interest rate is variable, which means the interest rate can go up or down dependant on the Bank of England Bank Rate.
  • If the Bank of England Bank Rate changes, the interest rate on your account will be adjusted accordingly up or down in line with the change, within 30 days following the Bank of England Bank Rate change.
  • If we increase the interest rate, we will display this information in our branch/agency offices and on our website.
  • If we decrease the interest rate we will notify you by sending you a letter, email or other personal notice 30 days in advance of the change.
What would the estimated balance be after 12 months based on a £1000 deposit?
  • £1,013.00.
  • We have worked this out assuming that the account is opened on 3rd August 2018 with a £1,000 deposit, the interest is paid annually and that during a 12 month period no further deposits or withdrawals are made, the interest rate stays at 1.30% and the Bank of England Bank Rate is 0.75%.
How do I open and manage my account?
  • The account is open to UK residents living in England & Wales aged 16 or over.
  • You can open your account at any branch or agency office or by post.
  • You can manage your account at any branch or agency office, by post or online (if registered with our ‘My Accounts’ service).
  • The minimum amount required to open an account is £1,000.
  • The maximum account balance is £500,000.
  • You can add to your savings at any time by cash, cheque or standing order.
Can I withdraw money?
  • You are limited to a maximum of 2 withdrawals per year.
  • All withdrawals are subject to either 30 days written notice without loss of interest, or on demand subject to 30 days loss of interest on the amount withdrawn.
  • A minimum balance of £1,000 must be maintained.
Additional Product Information 
  • You can add to your savings at any time by cash, cheque or standing order.
  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year.
  • The gross rate is the contractual rate of interest payable before the deduction of tax.
  • You will only need to pay tax on any savings income you earn above your Personal Savings Allowance. The new Personal Savings Allowance applies to the total savings income you earn from all banks/building societies and not just from Monmouthshire Building Society. Visit HMRC website at www.hmrc.gov.uk for more information.

Further Details:

Payment of Interest
  • Interest is calculated daily on the balance in the account. Interest is paid gross and tracks the Bank of England Bank Rate plus a fixed margin of 0.55%.
  • The rate is variable therefore the rate could move up or down dependent on the Bank of England Bank Rate.
  • Interest can be credited to your account or paid annually into a suitable bank / building society account (or suitable Monmouthshire Building Society account) following the close of business on the March 31 each year. An annual statement will be provided. Please note that if the interest has been added to the account and you subsequently withdraw the interest amount credited, this will count towards your two withdrawals.
  • If the Bank of England Bank Rate changes, the interest rate on your Account will be adjusted accordingly, up or down in line with the change, within 60 days following the Bank of England Bank Rate change. We will notify you by sending you a letter, email or other personal notice 30 days before any reduction in your interest rate.
  • For details of our current interest rates, please see our Interest Rates poster.
Opening and Managing Your Account
  • You can apply online or simply complete an application form and take or post it to your nearest branch or agency office. If you wish to open an account by post, you need to send us a personal cheque drawn on your personal account, made payable to the applicant(s) name.
  • When you apply to open an account with us, we'll ask you for proof of your name and address, and an electronic check of your identity will be undertaken. This is required by law to verify the true identity of all new and existing customers. For full details please refer to our Proving Your Identity leaflet. Identity checks are an important part in the fight against terrorism and other criminal activities.
  • Customers can now enjoy the convenience of managing their account(s) online using our 'My Accounts' service. For more information please see our FAQ's.
Making a Deposit

Our General Terms and Conditions for Savings Accounts contains important information which you should read before investing or withdrawing funds. Adding to the account is easy because you can save by cash, cheque or standing order.

Cash or Cheque

  • Funds can be added by calling in to any of our branch or agency offices with your passbook and deposit.

Standing Order/Electronic Payment

  • You can save through a standing order from your bank account.
  • To arrange a standing order or other one-off electronic payment, you’ll need to give your bank the following details:

    Account Name: Monmouthshire Building Society
    Sort Code: 40-05-30
    Account Number: 14576608
    Reference: XXXXXXXXXX (no spaces or hyphens - this is the Monmouthshire Building Society account number you wish to credit).
Making a Withdrawal
  • Withdrawals are subject to either 30 days written notice without loss of interest, or on demand subject to 30 days loss of interest on the amount withdrawn.
  • Limited to a maximum of 2 withdrawals per year, subject to withdrawal limits. Please note that if the interest has been added to the account and you subsequently withdraw it, this will count towards your two withdrawals and will be subject to withdrawal conditions.
  • If a withdrawal reduces the balance to less than the minimum balance per account of £1,000, 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.
  • You can also make withdrawals by electronic transfer using the 'My Accounts' system. Online withdrawals using the 'My Accounts' system are subject to further terms and conditions.
Paying Tax on Your Interest

From 6th April 2016 personal savings account interest will be paid gross, which means that interest will be paid without tax being deducted. This will form part of your new Personal Savings Allowance:

  • Basic rate tax payers will not pay any tax on the first £1,000 of savings income earned.
  • Higher rate tax payers will not pay any tax on the first £500 of savings income earned.
  • Additional rate tax payers will pay tax on all savings income earned.

You will only need to pay tax on any savings income you earn above your Personal Savings Allowance. The new Personal Savings Allowance applies to the total savings income you earn from all banks/building societies and not just from Monmouthshire Building Society. Visit HMRC website for more information.

Financial Services Compensation Scheme
  • We are part of the Financial Services Compensation Scheme (FSCS). Details of the scheme, and who is covered by it, are available here.

Terms and Conditions:

It is important that you read the Product Terms and Conditions and the General Terms and Conditions for Savings Accounts before deciding to open an account.

Smart Tracker 30 Day Notice Issue 2 - Specific Terms and Conditions

1 – Investment Limits

The minimum investment to open this account is £1,000 and a balance of at least this amount must be maintained. The maximum investment is £500,000.

2 - Further Investment

You may add to your savings at any time. Just call into your local branch or agency with your passbook and deposit. If it is more convenient you can post the deposit or save through a standing order from your bank account. 

3 – Withdrawals

Withdrawals are subject to either 30 days written notice without loss of interest, or on demand subject to 30 days loss of interest on the amount withdrawn. Limited to a maximum of 2 withdrawals per year, subject to withdrawal limits. Please note that if the interest has been added to the account and you subsequently withdraw it, this will count towards your two withdrawals and will be subject to withdrawal conditions.

If a withdrawal reduces the balance to less than the minimum balance per account of £1,000, 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.

You can also make withdrawals by electronic transfer using the 'My Accounts' system. Online withdrawals using the 'My Accounts' system are subject to further terms and conditions.

4 – Interest

Interest is calculated daily on the balance in the account. Interest is paid gross and tracks the Bank of England Bank Rate plus a fixed margin of 0.55%.

The rate is variable therefore the rate could move up or down dependent on the Bank of England Bank Rate. Interest can be credited to your account or paid annually into a suitable bank / building society account (or suitable Monmouthshire Building Society account) following the close of business on the March 31 each year. An annual statement will be provided. Please note that if the interest has been added to the account and you subsequently withdraw the interest amount credited, this will count towards your two withdrawals.

If the Bank of England Bank Rate changes, the interest rate on your Account will be adjusted accordingly, up or down in line with the change, within 30 days following the Bank of England Bank Rate change. We will notify you by sending you a letter, email or other personal notice 30 days before any reduction in your interest rate.  

5 - Terms and Conditions

These Specific 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 Specific Product Terms and Conditions, the Specific Product Terms and Conditions will apply.

FSCS Scheme