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Client Deposit No Notice

Instant access 2.45% Gross pa/AER

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  • Summary Back Copy 2
    • What is the interest rate?

      2.45% Gross PA/AER

      Interest is calculated daily and paid annually at 31st December into this account or a nominated account as stated on your application form. You can also choose to have your interest paid monthly into a nominated account.

    • Can Buckinghamshire Building Society change the interest rate?

      Yes, interest rates are variable and we can change them at any time. Any changes will be made in accordance with Section 8 of our General Terms and Conditions which sets out when we can vary the interest rate and how and when we will notify you.

    • What would be the estimated balance after 12 months based on a deposit of £1,000?

      The estimated balance after 12 months based on a deposit of £1,000 would be £1,024.50.

      This estimation assumes that:
       - £1,000 is deposited on opening the account.
       - No additional deposits or withdrawals are made.
       - Interest is paid annually and added to the account.

      This projection is provided for illustrative purposes only and does not take into account your individual circumstances.

    • How do I open and manage my account?

      • This account can be opened online, in branch or by post.
      • The account is available to solicitors, Brokers, Accountants, Financial Advisers and Estate Agents to hold Client funds.
      • The Society will comply with the Rules as laid down by the SRA and the FCA in relation to the client funds held in a building society account.
      • You can open an account with a minimum investment of £100 and save up to £750,000.
      • Accounts are available for UK organisations only. We do not open accounts where any individual signatory has a foreign tax residency, even though they may also hold UK tax resident status.
      • The firm's nominated bank account must be in a UK bank. Bank transfers from overseas are not permitted.
      • The account is suitable for undesignated client funds only.
      • Complete all sections of the application form and return it to us.
    • Can I withdraw money?

      • Yes, you can take your money out at any time.
      • You can withdraw by cheque in the name of the firm or bank transfer to the firm’s nominated bank account by writing to us and sending us your passbook.
      • Faster payment transfers are limited to £100,000 into the firm’s nominated account.
    • Additional Information

      • Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. We will pay interest at the gross rate. It is your responsibility to declare any interest you earn to HMRC. The Society also has a legal obligation to supply HMRC with particulars of interest paid.
      • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
      • The receipt of interest gross by a company will not prevent that interest from being liable to corporation tax.
  • Important Information Back Copy 2

    You should read this information carefully in conjunction with our General Savings Terms and Conditions to ensure you understand them.

    In order to keep your money safe from fraud, we will use a Financial Conduct Authority approved electronic system to verify the identity of all signatories to the account and all directors or beneficial owners. We also require a photocopy of each signatory’s identification documents (this does not need to be certified). Our identification leaflet details the documents you will need to provide.

    We will also require identification for the organisation, as detailed in the identification leaflet.

    This account is a deposit account. As such depositors are not shareholders and do not have membership rights but, will be bound by our Rules, a copy of which is available on request.

    The Society operates a 14 day cancellation period, so if you change your mind about opening an account you will receive back all your original capital plus any interest accrued.

    We have a complaints procedure designed to meet the Regulatory requirements, which we will provide on request or is available on our website www.bucksbs.co.uk. If you are unhappy with the way we have resolved your complaint you may be able to contact the Financial Ombudsman Service at www.financial–ombudsman.org.uk

  • How To Apply Back Copy 2

    To Open an Account

    Download and complete the application form and return it to us by post or to the branch.

    Financial Services Compensation Scheme

    You must read the Information Sheet which gives all the details of the FSCS and how you are covered.

    The FSCS is the UK's statutory fund of last resort for customers of financial services firms. This means that the FSCS can pay compensation to consumers if a financial services firm is unable, or likely to be unable, to pay claims against it. The FSCS is an independent body, set up under the Financial Services & Markets Act 2000 (FSMA).

    Verifying your Identity

    In order to help you to keep your money safe from fraud we verify the identity of all customers opening a new savings account with the Society. Click here to see the list of required ID documents.

    • What is the interest rate?

      2.45% Gross PA/AER

      Interest is calculated daily and paid annually at 31st December into this account or a nominated account as stated on your application form. You can also choose to have your interest paid monthly into a nominated account.

    • Can Buckinghamshire Building Society change the interest rate?

      Yes, interest rates are variable and we can change them at any time. Any changes will be made in accordance with Section 8 of our General Terms and Conditions which sets out when we can vary the interest rate and how and when we will notify you.

    • What would be the estimated balance after 12 months based on a deposit of £1,000?

      The estimated balance after 12 months based on a deposit of £1,000 would be £1,024.50.

      This estimation assumes that:
       - £1,000 is deposited on opening the account.
       - No additional deposits or withdrawals are made.
       - Interest is paid annually and added to the account.

      This projection is provided for illustrative purposes only and does not take into account your individual circumstances.

    • How do I open and manage my account?

      • This account can be opened online, in branch or by post.
      • The account is available to solicitors, Brokers, Accountants, Financial Advisers and Estate Agents to hold Client funds.
      • The Society will comply with the Rules as laid down by the SRA and the FCA in relation to the client funds held in a building society account.
      • You can open an account with a minimum investment of £100 and save up to £750,000.
      • Accounts are available for UK organisations only. We do not open accounts where any individual signatory has a foreign tax residency, even though they may also hold UK tax resident status.
      • The firm's nominated bank account must be in a UK bank. Bank transfers from overseas are not permitted.
      • The account is suitable for undesignated client funds only.
      • Complete all sections of the application form and return it to us.
    • Can I withdraw money?

      • Yes, you can take your money out at any time.
      • You can withdraw by cheque in the name of the firm or bank transfer to the firm’s nominated bank account by writing to us and sending us your passbook.
      • Faster payment transfers are limited to £100,000 into the firm’s nominated account.
    • Additional Information

      • Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. We will pay interest at the gross rate. It is your responsibility to declare any interest you earn to HMRC. The Society also has a legal obligation to supply HMRC with particulars of interest paid.
      • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
      • The receipt of interest gross by a company will not prevent that interest from being liable to corporation tax.
  • You should read this information carefully in conjunction with our General Savings Terms and Conditions to ensure you understand them.

    In order to keep your money safe from fraud, we will use a Financial Conduct Authority approved electronic system to verify the identity of all signatories to the account and all directors or beneficial owners. We also require a photocopy of each signatory’s identification documents (this does not need to be certified). Our identification leaflet details the documents you will need to provide.

    We will also require identification for the organisation, as detailed in the identification leaflet.

    This account is a deposit account. As such depositors are not shareholders and do not have membership rights but, will be bound by our Rules, a copy of which is available on request.

    The Society operates a 14 day cancellation period, so if you change your mind about opening an account you will receive back all your original capital plus any interest accrued.

    We have a complaints procedure designed to meet the Regulatory requirements, which we will provide on request or is available on our website www.bucksbs.co.uk. If you are unhappy with the way we have resolved your complaint you may be able to contact the Financial Ombudsman Service at www.financial–ombudsman.org.uk

  • To Open an Account

    Download and complete the application form and return it to us by post or to the branch.

    Financial Services Compensation Scheme

    You must read the Information Sheet which gives all the details of the FSCS and how you are covered.

    The FSCS is the UK's statutory fund of last resort for customers of financial services firms. This means that the FSCS can pay compensation to consumers if a financial services firm is unable, or likely to be unable, to pay claims against it. The FSCS is an independent body, set up under the Financial Services & Markets Act 2000 (FSMA).

    Verifying your Identity

    In order to help you to keep your money safe from fraud we verify the identity of all customers opening a new savings account with the Society. Click here to see the list of required ID documents.

Need some help?

Call us: 01494 879500  Email: info@bucksbs.co.uk  or visit our branch

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