(Incorporating Swans Premier Account January 2018)
Interest is calculated daily and added to the account annually on the 31st December.
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 available from branch offices or online at www.swansea-bs.co.uk) together with a cheque made payable to ‘Swansea Building Society a/c (your name)’.
Minimum investment is £1. Maximum investment is £85,000 for a sole account and £170,000 for a joint account. 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).
Can I withdraw money?You can withdraw money from your account at any time without notice or penalty by visiting us at a branch. Alternatively, you may send us your signed written instructions.
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.
Specific Terms and Conditions for the Personal Premier Account
1. Account opening and Investment Limits:
To open an account, the applicant(s) need to be aged 18 and over.
The minimum investment is £1. The maximum investment is £85,000 for a sole application and £170,000 for a joint application.
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.
2. Further Investment:
You may add to your savings at any time, just call into your local branch with your deposit. If it is more convenient you can post the deposit or save through a standing order from a UK bank account.
You can withdraw from your account without giving notice subject to Society limits. Details of our cash, cheque and electronic payment withdrawal limits are displayed in our branch offices and on our web-site.
Interest is variable and calculated on a daily basis on the balance in the account. Interest will be credited to the account following the close of business on December 31 each year. Statements are sent out half yearly on June 30 and December 31.
5. Terms and Conditions:
These specific Product Terms and Conditions apply to this account in addition to our General Terms & Conditions for Savings Accounts. Where there is any inconsistency between the General Terms & Conditions for Savings Accounts and the specific Product Terms and Conditions, the specific Product 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.
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.
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.