Business Premier

This account is no longer available for new account applications.

 

Summary Box - Key Product Information:

Account Name Business Premier
What is the Interest Rate?
  • 0.10% GROSS/AER (Variable) – from 01.05.2021

  • Interest is variable and calculated daily on the balance in the account and paid to the account annually on the 31st December.

  • 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.

Can Swansea Building Society change the interest rate?
  • Yes - Interest rates are variable which means the interest rate can go up and down and may be amended at any time. 

  • We will give you 14 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 visit or telephone any one of our branch offices detailed on the reverse of this leaflet. Details of other Swansea Building Society savings accounts interest rates are available in our ‘Range of Savings Accounts’ leaflet which is available by visiting or telephoning one of our branch offices or online at www.swansea-bs.co.uk.

  • To understand why rates may be reduced please refer to our General Terms and Conditions for the operation of Savings Accounts. 

What would the estimated balance be after 12 months
  • Projected Balance = £1,001.00 (This figure is for illustration purposes and is based on a deposit of £1,000 with no additional deposits, withdrawals or changes in interest rate within the 12-month period.
How do I open and manage my account?
  • This account is no longer available for new account applications

  • Minimum investment is £500. Maximum investment is £500,000. The maximum balance that can be held across all Swansea Building Society savings accounts held is £85,000 in sole names and £170,000 in joint names where the customer became a member on or after 01 January 2017. Where the customer was a member prior to this, the maximum balance that can be held across all Swansea Building Society savings accounts held is £500,000.

  • 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).  

  • Manage your account in branch, e-mail, post or online via secure message (subject to Swansea Online Account eligibility criteria, available when you click ‘Register Now’ at https://swansea-bs.co.uk/customer-support/online-registration

Can I withdraw money?
  • Yes, you do not have to give notice to close your account or make a withdrawal.

  • You can withdraw money from your account at any time without notice, loss of interest or penalty by visiting us at a branch. Alternatively, you may send us your signed written instructions by post, by  e-mail or via our online service Swansea Online using the secure messaging service.  

  • Minimum withdrawal is £1 (or less if closing the account). Minimum balance to be held in this account is £1. 

  • The maximum cash withdrawal per customer per day is £1,000.

Additional Information
  • 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.

  • The Society is part of the Financial Services Compensation Scheme (FSCS). Details of the scheme and who is covered by it can be found at www.fscs.org.uk.

  • Service charges and costs may apply to your account. These are outlined in our Savers Tariff. 

  • In certain circumstances we may refuse an instruction to operate an account. These circumstances are outlined in our General Terms and Conditions for the operation of Savings Accounts.