(Incorporating Swans Premier Account January 2018)
Interest is calculated daily and added to the account annually on the 31st December.
days written notice by post of any proposed change in our interest rates. They will also be posted on our website at www.swansea-bs.co.uk or you may telephone our Investment Department on 01792 739100. Details of other Swansea Building Society savings accounts interest rates are available in our Range of Savings Accounts leaflet.
How do I open and manage my account?
To open an account, you must be resident in Wales. Simply call at one of our branches or complete an application form and post it to us with appropriate identification (see our Proving Your Identity leaflet for further details), together with a cheque made payable to ‘Swansea Building Society a/c (your name)’. Minimum investment is £1 or £5,000 if a cheque book instead of a passbook is required. Maximum investment is £85,000 for a sole account and £170,000 joint. The maximum investment/balance that can be held across all Society accounts held is £85,000 for sole customers and £170,000 for joint customers.
Deposits can be made by cheque, electronic bank transfer, transfer from another account held with the Society (subject to the Terms and Conditions of that account) or cash (Cash deposits are limited to £3,000 per customer per day).
Can I withdraw money?
You can withdraw money from your account at any time without notice or penalty by visiting us at a branch with your passbook. Alternatively, you may send us your written instructions along with your passbook which will be updated and returned to you once the transaction has been completed.
Minimum withdrawal is £1 (or less if closing the account). Minimum balance to be held in this account is £1. A cheque book is available for account holders with an account balance of £5,000 or more. The minimum amount which can be withdrawn by cheque is £100.
The maximum cash withdrawal per customer per day is £1,000.
Specific Terms and Conditions for the Personal Premier Account
1. Investment Limits:
The minimum investment/balance is £1. For customers who wish to have a chequebook instead of a passbook, the minimum investment/balance held is £5,000. The maximum investment/balance is £85,000 for sole applicants and £170,000 for joint applicants. The maximum investment/balance that can be held across all Society accounts held is £85,000 for sole customers and £170,000 for joint customers.
2. Further Investment:
You may add to your savings at any time, just call into your local branch with your passbook (or Society cheque book if held instead of a passbook) and deposit. If it is more convenient, you can post the deposit (along with your passbook if one is held), or save through a standing order from a UK bank or building society account. The maximum investment/balance that can be held across all Society accounts held is £85,000 for sole customers and £170,000 for joint customers.
You can withdraw from your account without giving notice subject to Society limits. Details of our cash and cheque withdrawal limits are displayed in our branch offices, on our web-site and from our Head Office. For those customers who have a cheque book facility (where a minimum account balance of £5,000 or more is required), the minimum amount which can be withdrawn by cheque is £100. The minimum balance to be held for passbook based accounts is £1 and for those with accounts with a cheque book facility it is £5,000.
Interest is variable and calculated on a daily basis on the balance in the account. Interest can be credited to the account or paid annually into a suitable bank/building society account or suitable Swansea Building Society account following the close of business on 31 December each year.
5. Terms and Conditions:
These specific Terms and Conditions apply to this account in addition to our General Terms and Conditions for Savings Accounts. Where there is any inconsistency between the General Terms and Conditions for Savings Accounts and the Specific Terms and Conditions, the Specific Terms and Conditions will apply.
For General Terms and Conditions applicable to this account see “General Terms and Conditions for the operation of Savings Accounts" available from our branches or online at www.swansea-bs.co.uk.
Interest is paid gross without tax deducted.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
Please note, the tax treatment and rate of interest payable depend on the individual circumstances of each customer and may change in the future.
Statements are sent out monthly, quarterly, bi-annually or annually, depending what frequency the customer selects on opening the account.
The maximum balance across all accounts held with the Society is £85,000 for a single customer or £170,000 for joint customers where the customer first opened an account with the Society on or after 1 January, 2017. Where excess monies are received, such monies will be returned using the same method by which they were deposited.
You can download any of our application forms or related documentation here. If you need any help with completing one please give us a ring on 01792 739100 where one of our team will be happy to help you.