Specific Terms for Triple Access Saver (3)
The Saving Accounts Terms and Conditions in force and as updated from time to time and these Specific Terms both apply to this Triple Access Saver (3). If there is any inconsistency between the Saving Accounts Terms and Conditions and these Specific Terms, the Specific Terms will apply.
1. The account
1.1 This account is a Savings Account.
1.2 There is a passbook-based version and a statement-based version of this account.
1.3 We describe accounts that have passbooks as 'passbook-based'. A passbook-based account may be operated in branch, by post, by telephone or online.
1.4 We describe accounts which do not have passbooks as 'statement-based'. A statement-based account may be operated by post, by telephone or online. In addition, you may make deposits of cash or cheque into a statement-based account in branch.
1.5 To apply for a statement-based account:
(a) you must be at least 16 years old; and
(b) there may be no more than two joint account holders.
1.6 For statement-based accounts that are held in joint names, we cannot arrange for both of you to be required to authorise transactions.
1.7 If your account is statement-based and you wish to make a withdrawal or close your account by one-off electronic transfer, you must provide us with a Named Bank Account. Your Named Bank Account is an account you choose to send money to and/or interest payments. It must be in your name and with us or another UK bank or building society.
1.8 If at any time, there is a change to your Named Bank Account details, you must contact us to let us know.
1.9 You can only be named on one Triple Access Saver (3) either solely or jointly at any one time.
2. Minimum & maximum balance
2.1 The minimum balance is £1 and the maximum balance is £250,000.
3. Interest
3.1 The interest rate for this account can change. You can find out the current interest rate from our website at www.coventrybuildingsociety.co.uk, calling our Customer Service Centre or asking in one of our branches.
3.2 If you opt to receive annual interest it will be paid on the anniversary of the date that you opened the account.
3.3 If you opt to receive monthly interest it will be paid at the end of the last working day of each month.
3.4 You may choose to have the interest added to this account or paid into a non-ISA account with us. It can also be paid to another UK bank or building society account if it can accept the interest payment.
4. Deposits
4.1 Deposits can be made by:
(a) cash at a branch;
(b) cheque paid in at a branch or posted to our central processing centre;
(c) internal transfer from an account with us; or
(d) electronic payment from an account with another bank or building society.
5. Withdrawals/Closure
5.1 In this Condition 5:
(a) "a year" begins on the date that your account is opened, or the anniversary of that date;
(b) "a withdrawal" includes the closure of the account by you; and
(c) "a withdrawal" includes withdrawals of interest by you, unless you have arranged for interest payments to be paid out of the account automatically in accordance with Condition 3.4.
5.2 You may make up to 3 withdrawals each year without charge and without loss of interest on the remaining amount.
5.3 If you make 4 or more withdrawals in a year (which includes closure), you will be charged an amount equivalent to 50 days' interest on the amount withdrawn on the 4th and subsequent withdrawals. The charge will be deducted from the balance of the account, at the time of the withdrawal.
5.4 Interest will be charged in accordance with Condition 5.3 at the variable rate which applies on the date the money leaves your account.
5.5 If you have a passbook-based account, you can withdraw money or close your account by:
(a) requesting cash at a branch;
(b) requesting a cheque at a branch or by post from our central processing centre;
(c) transferring your money to another account with us; or
(d) making a one-off electronic payment to an account with another UK bank or building society.
5.6 If you have a statement-based account, you can withdraw money or close your account by:
(a) requesting a cheque at a branch or by post from our central processing centre;
(b) transferring your money to another account with us; or
(c) making a one off payment to your Named Bank Account.
