Postal Business Account
|Summary Box - Key Product Information|
|Account Name||Postal Business|
|What is the interest rate?||
0.55% Gross* / AER** for balances over £1,000
Balances under £1,000 will attract the lowest rate from the Instant Access Account.
Interest is calculated daily and added annually on 31st December at close of business.
|Can beverley Building Society change the interest rate?||
Yes, all of our interest rates are variable.
|What would the estimated balance be after 12 months based on a £1,000 deposit?||
This figure is for illustation purposes only, and assumes no further deposits, withdrawals or interest rate changes.
|How do I open and manage my account?||
Available to UK Residents and UK Tax Residents.
Please contact the Society and request a pack to be sent to you. Complete the application form, relevant declaration(s) and provide necessary identification then forward together with the initial deposit (payable to the account name) to the Society's office.
The minimum opening deposit is £1000.
Transactions by cheque via postal savings department. A prepaid envelope will be provided after each transaction. Transactions at the counter are not permitted.
|Can I withdraw money?||
Yes, notice and penalty free withdrawals are permitted.
You can normally make a withdrawal on demand for any amount by cheque, subject to adequate cleared balance and written instruction signed by the relevant signatory(ies).
|Additional Information||*Gross rate – the contractual rate of interest to be paid on a savings account without any deduction being made in made in respect of potential tax liability. **AER - stands for Annual Equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.|