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  • Regular Saver Locals

    • Overview
    • Interest Rates
    • How to Apply
    Full Details
    • Account name

      Regular Saver Locals

    • What is the interest rate?

      2.00% Gross/AER

    • Can Buckinghamshire Building Society change the interest rate?

      Yes, interest rates are variable and we can change them at any time. We will inform you before we do this. Section 7 of our General Terms and Conditions has full details.

    • What would be the estimated balance after 12 months based on a monthly investment of £100

      The estimated balance after 12 months based on a regular monthly deposit of £100 would be £1,213.08.

      This estimation assumes that £100 is deposited on 1 January and every month for the rest of the year with no withdrawal transactions made and interest subsequently paid gross on 31 December. These figures are for illustrative purposes only.

    • How do I open and manage my account?

      Open an account with a minimum of £10 in person or by post. Accounts can be opened in single names only. Only one account per person is permitted. Transactions can be made at our branch or by post. You can make your monthly payment by cash, cheque or standing order.

    • Can I withdraw money?

      Yes you can take your money out at any time in cash or by cheque or transfer to your nominated bank account.

    • Additional information

      Interest is paid gross annually at 31st December. 

    Effective: 01 July 2018
    Balance Gross PA/AER
    £10 2.00%
    Previous rates effective: 02 October 2017
    Gross PA/AER
    2.00%

    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

    The FSCS is the UK's statutory fund of last resort for customers of financial services firms. This means that 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). We do not charge individual consumers for using our service.

    It is important that you read and download the FSCS Information Sheet which gives all the details of this scheme and how you are covered.

    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.  We use a Financial Conduct Authority approved electronic system to verify your identity. This is a safe and accurate way to confirm your identity and the information that you provide is checked against records held by credit reference agencies, but is not seen by lenders or used to assess your ability to obtain credit.

    If we cannot identify you via this means we may ask for you to supply us with certain ID documents a list of which can be found in here.

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year, and has been rounded to 2 decimal places. Gross interest is the rate payable to you. We will not take tax off the interest you earn. It is your responsibility to declare any interest you earn over your personal savings allowance directly to HMRC.

Do I qualify for this account?

You can open this account if you are resident in the county of Buckinghamshire or in one of the following postcodes:

HP, SL, UB, WD, LU6, LU7, MK17, MK18, MK19, NN13, OX6, RG9.

How much can I save?

  • You can save between £10 and £500 per month into this account.
  • Only one account per person is permitted.
  • The total maximum balance of the account is £85,000.
  • Your first payment may be made by cash or cheque. You can then set up a standing order with your bank for the ongoing monthly payments or pay by cash or cheque each month.
  • Please set your standing order up to be paid between 1st and 26th of each month.

What do I need to know before opening the account?

  • The Regular Saver can only be opened in a single name.
  • This account may not be operated by a third party unless a Power of Attorney is in place.
  • The accounts cannot be operated by an adult on behalf of a child unless a Power of Attorney is in place. A child aged 7 or over may open and operate an account themselves.
  • Transfers are not permitted from other Buckinghamshire Building Society accounts.

How can I take my money out?

  • You can take your money out at any time.
  • The account may be operated in person at our branch or by post. You can withdraw your money by cash, cheque or bank transfer by calling into our branch or by writing to us and sending your passbook.
  • Cash withdrawals are subject to a daily limit of £500 and up to £3,000 on 3 days notice.

Can I cancel?

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.

Tax Residency

We do not open accounts for any individual who has a foreign tax residency, even though they may also hold UK tax resident status.

How will my interest be paid?

The interest rates are variable and we can change them at any time. Interest will be paid annually at 31 December into the account.
Gross interest is the rate payable to you. We will not take tax off the interest you earn. It is your responsibility to declare any interest you earn over your personal savings allowance directly to HMRC.
  • Basic rate taxpayers can earn up to £1,000 interest on savings tax free.
  • Higher rate taxpayers can earn up to £500 interest on savings tax free.
  • Additional rate taxpayers will pay tax on all savings interest earned.

 

 

50624

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year, and has been rounded to 2 decimal places. Gross interest is the rate payable to you. We will not take tax off the interest you earn. It is your responsibility to declare any interest you earn over your personal savings allowance directly to HMRC.

Do I qualify for this account?

You can open this account if you are resident in the county of Buckinghamshire or in one of the following postcodes:

HP, SL, UB, WD, LU6, LU7, MK17, MK18, MK19, NN13, OX6, RG9.

How much can I save?

  • You can save between £10 and £500 per month into this account.
  • Only one account per person is permitted.
  • The total maximum balance of the account is £85,000.
  • Your first payment may be made by cash or cheque. You can then set up a standing order with your bank for the ongoing monthly payments or pay by cash or cheque each month.
  • Please set your standing order up to be paid between 1st and 26th of each month.

What do I need to know before opening the account?

  • The Regular Saver can only be opened in a single name.
  • This account may not be operated by a third party unless a Power of Attorney is in place.
  • The accounts cannot be operated by an adult on behalf of a child unless a Power of Attorney is in place. A child aged 7 or over may open and operate an account themselves.
  • Transfers are not permitted from other Buckinghamshire Building Society accounts.

How can I take my money out?

  • You can take your money out at any time.
  • The account may be operated in person at our branch or by post. You can withdraw your money by cash, cheque or bank transfer by calling into our branch or by writing to us and sending your passbook.
  • Cash withdrawals are subject to a daily limit of £500 and up to £3,000 on 3 days notice.

Can I cancel?

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.

Tax Residency

We do not open accounts for any individual who has a foreign tax residency, even though they may also hold UK tax resident status.

How will my interest be paid?

The interest rates are variable and we can change them at any time. Interest will be paid annually at 31 December into the account.
Gross interest is the rate payable to you. We will not take tax off the interest you earn. It is your responsibility to declare any interest you earn over your personal savings allowance directly to HMRC.
  • Basic rate taxpayers can earn up to £1,000 interest on savings tax free.
  • Higher rate taxpayers can earn up to £500 interest on savings tax free.
  • Additional rate taxpayers will pay tax on all savings interest earned.

 

 

Further Information

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

The FSCS is the UK's statutory fund of last resort for customers of financial services firms. This means that 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). We do not charge individual consumers for using our service.

It is important that you read and download the FSCS Information Sheet which gives all the details of this scheme and how you are covered.

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.  We use a Financial Conduct Authority approved electronic system to verify your identity. This is a safe and accurate way to confirm your identity and the information that you provide is checked against records held by credit reference agencies, but is not seen by lenders or used to assess your ability to obtain credit.

If we cannot identify you via this means we may ask for you to supply us with certain ID documents a list of which can be found in here.