Available in England and Wales.
Summary Box - Key Product Information:
|Account Name||Charities and Clubs Direct 30 - 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 £5,000 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 Specific Product Terms and Conditions and the General Terms and Conditions for Savings Accounts before deciding to open an account.
Charities and Clubs Direct 30 (Issue 2) Specific Product Terms and Conditions
1 - Restricted Availability
These accounts are only available to clubs, societies and charities investing non personal funds. We will require sight of official documentation bearing the name of the organisation. For clubs and societies, we will also require a copy of your constitution or Memorandum of Association. For charities, we will require confirmation of your charity registration number.
2 - Investment Limits
The minimum investment is £5,000. The maximum investment is £500,000. The opening investment must be by cheque from a UK bank account in the name of the organisation. A minimum balance of £5,000 must be retained in the account at all times. If a withdrawal reduces the balance to less than the minimum balance, 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.
3 - Further Investment
You may add to your savings at any time, but any further deposits are only permitted via cheque or direct transfer from a UK bank account.
4 - Withdrawals
Withdrawals can only be made to a nominated UK bank account in the name of the organisation by electronic transfer using the 'My Accounts' system.
A maximum of two electronic transfer withdrawals are permitted each month free of charge.
Any further withdrawals by electronic transfer will be charged at £1 per withdrawal, and the fee will be debited from your account balance.
All withdrawals are subject to either 30 days notice without loss of interest, or on demand subject to 30 days loss of interest on the amount withdrawn.
5 - Interest
Interest is variable and calculated on a daily basis on the balance in the account. Interest will be credited to the account following the close of business on 31 March each year.
6 - Membership Rights
This account is not a share account and therefore you will have no Society membership rights in Monmouthshire Building Society (e.g. the right to vote).
7 - Terms and Conditions
These Specific Product Terms and Conditions apply to this Account in addition to our General Terms & Conditions for Savings Accounts. Where there is any inconsistency between the General Terms & Conditions for Savings Accounts and the Specific Product Terms and Conditions, the Specific Product Terms and Conditions will apply.