Your Coventry Application

Specific Terms for 4 Access Saver (2)

The Saving Accounts Terms and Conditions in force and as updated from time to time and these Specific Terms both apply to this 4 Access Saver (2). 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 to open 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 jointly, we are unable to accept arrangements where both account holders are required to authorise transactions on the account. This means that either account holder can instruct us to make changes on the account and complete 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 the details of your Named Bank Account when applying. 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. If you have a joint account, your Named Bank Account can be in either one or both of your names.

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 4 Access Saver (2) either solely or jointly at any one time.

2. Minimum & maximum balance

2.1 The minimum balance is £1 and the maximum balance is £1,000,000.

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, by calling our Customer Service Centre or asking in one of our branches.

3.2 If paid annually, interest will be paid on the anniversary of the date that you opened the account.

3.3 If paid monthly, interest will be paid at the end of the last day of each month.

3.4 You can choose to have the interest added to this account or paid into an account with us which is not an ISA and can accept the interest payments. It can also be paid to another UK bank or building society account if it can accept the interest payments.

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) transferring money from an account with us; or

(d) making an electronic payment from an account with another bank or building society.

5. Changing your mind

5.1 You have a period of 14 calendar days to change your mind about opening this account (‘cooling-off period’). This means that you can withdraw your funds and/or close this account without incurring a charge at any time within 14 calendar days of opening this account. You can do this by calling the Customer Service Centre, visiting a branch or by writing to us at Oakfield House, PO Box 600, Binley, Coventry CV3 9YR.

5.2 If you do not close this account during the cooling-off period, it will continue in accordance with the Saving Accounts Terms and Conditions, in force and as updated from time to time, and these Specific Terms.

6. Withdrawals and closing your account

6.1 In this Condition 6:

(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.

6.2 If you do not change your mind within the 14 day calendar period after opening this account you can make up to 4 withdrawals each year without charge and without loss of interest on the remaining amount.

6.3 If you make 5 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 5th and subsequent withdrawals. The charge will be deducted from the balance of the account, at the time of the withdrawal.

6.4 Interest will be charged in accordance with Condition 6.3 at the variable rate which applies on the date the money leaves your account.

6.5 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.

6.6 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.

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