Saver Plus

• Interest on the balance in the account will be calculated on a daily basis and can be credited to the account, transferred to a suitable bank/building society account or suitable Monmouthshire Building Society account annually following the close of business on 31 March.
• The bonus is calculated on a daily basis on the balance in the account. You will receive an annual bonus payment following the close of business on 31 March each year provided you have made no more than one withdrawal in the year and have made all of the required monthly deposits.
• Interest will be paid gross - this means that interest will be paid without tax being deducted.
• The interest rate is variable, but the bonus is fixed at 1.00% AER/Gross per annum.
• For details of our current interest rates, please see our Interest Rates poster.

• 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 page and to register, please click here.
• You can make any number of payments (minimum £20 per month) up to an overall total of £1,000 per month per account. If you miss any payments you will forfeit the bonus.

• 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).

• This account is designed to give you a higher return if you leave your savings untouched.
• You will qualify for a bonus each year (ending 31 March) if you make all monthly payments and as long as you make no more than one withdrawal.
• If necessary, you can make more than one withdrawal without giving notice, but you will forfeit the bonus.
• Up to three withdrawals are allowed during the year ending 31 March.
• If you make more than three withdrawals, we will give you two months written notice following which we will close the account.
• If the balance on an account falls below the minimum required balance, the saver will have 30 days from the date we issue a notice to the saver, to bring the balance back to the minimum. If after the notice period has lapsed the balance remains below the minimum, we may close the account without further notice.
• Withdrawals of up to £500 in cash per day and larger amounts by cheque may be made from any of our branches or agencies on demand, subject to withdrawal limits. for more information on withdrawal limits please see our FAQ's.
• You can also make withdrawals via the Faster Payments service - this is free of charge for any UK payment transaction up to £100,000 (with a minimum withdrawal of £500). If we receive your instructions before 2.00pm on a working day (excluding Saturdays) we will send your payment and debit your account on the same day. Requests received after 2.00pm will be processed the following working day. Requests taken on a Saturday will also be processed the following working day.

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.

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