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SIPP 30 Day Notice

30 days notice 2.10% Gross pa/AER

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

      2.10% Gross PA/AER

      If the balance falls below £100, a variable rate of 0.10% Gross pa / AER will be paid. Interest is calculated daily and paid annually at 31st December into this account or a nominated account as stated on your application form.

    • 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 £1,021.00.

      This estimation assumes that £1,000 is deposited on 1st January with no deposit or withdrawal transactions made and interest subsequently paid gross at 31st December.

      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?

      • Account holders must be 18 years of age or over and a UK resident.
      • You can open an account with a minimum of £100 and save up to a maximum of £500,000.
      • SIPP accounts must be operated through a SIPP Trustee.
      • Joint accounts are not permitted.
      • The opening investment must be made by cheque or bank transfer.
      • We do not accept any overseas bank transfers.
      • We do not open accounts for any individual who has a foreign tax residency, even though they may also hold UK tax resident status.
    • Can I withdraw money?

      • Yes, you can take your money out by giving us 30 days notice in writing via the SIPP Trustee. Immediate withdrawals are permitted subject to 30 days penalty loss of interest.
      • You can withdraw by cheque or bank transfer.
      • Withdrawals can only be made to the SIPP account holder.
      • Cash withdrawals are not permitted.
      • We do not permit cheques or bank transfers to third parties.
      • Faster payment transfers are limited to £100,000.
    • 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.
      • 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.
      • We have no current plans to withdraw this product although it can be withdrawn without notice.
  • 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 your identity. We also require a photocopy of your identification documents (this does not need to be certified). Our identification leaflet details the documents you will need to provide.

    You can complete an application form by downloading it from the website or contact us and we will send you a form in the post. Please read and complete all sections of the form.

    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?

      2.10% Gross PA/AER

      If the balance falls below £100, a variable rate of 0.10% Gross pa / AER will be paid. Interest is calculated daily and paid annually at 31st December into this account or a nominated account as stated on your application form.

    • 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 £1,021.00.

      This estimation assumes that £1,000 is deposited on 1st January with no deposit or withdrawal transactions made and interest subsequently paid gross at 31st December.

      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?

      • Account holders must be 18 years of age or over and a UK resident.
      • You can open an account with a minimum of £100 and save up to a maximum of £500,000.
      • SIPP accounts must be operated through a SIPP Trustee.
      • Joint accounts are not permitted.
      • The opening investment must be made by cheque or bank transfer.
      • We do not accept any overseas bank transfers.
      • We do not open accounts for any individual who has a foreign tax residency, even though they may also hold UK tax resident status.
    • Can I withdraw money?

      • Yes, you can take your money out by giving us 30 days notice in writing via the SIPP Trustee. Immediate withdrawals are permitted subject to 30 days penalty loss of interest.
      • You can withdraw by cheque or bank transfer.
      • Withdrawals can only be made to the SIPP account holder.
      • Cash withdrawals are not permitted.
      • We do not permit cheques or bank transfers to third parties.
      • Faster payment transfers are limited to £100,000.
    • 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.
      • 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.
      • We have no current plans to withdraw this product although it can be withdrawn without notice.
  • 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 your identity. We also require a photocopy of your identification documents (this does not need to be certified). Our identification leaflet details the documents you will need to provide.

    You can complete an application form by downloading it from the website or contact us and we will send you a form in the post. Please read and complete all sections of the form.

    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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