Savings T&Cs
(1) Statement Folders
This statement folder is issued for the safe keeping of the various papers you will receive in
respect of your account. The folder, together with the latest statement of account inserted,
replaces the passbook.
(2) Statement of Account
A complete statement of account will be forwarded from Head Office on the following basis:
The statement will show all the transactions that have taken place on the account since the issue of the last statement. The statement will also show interest earned during this period. Please keep the document safely as this may be useful if you are required to complete an Income Tax Return.
(3) Account Number
The Account Number should be quoted on all communications.
(4) Official Receipts/Paying-in Slips
These are issued when payments are made by cheque. Official receipts should be retained in
the statement folder until verified against your statement.
(5) Withdrawals and Closing Transactions
Minster Accounts |
30 Day Interest Charge |
60 Day Interest Charge |
90 Day Interest Charge |
Notice |
Easy Access |
Min Bal after W.drawal |
|---|---|---|---|---|---|---|
| Call Save | N/A |
N/A |
N/A |
N/A |
YES |
£1 |
| Minster Spire & Teachers Direct | N/A |
N/A |
N/A |
N/A |
YES |
£500 |
| Minster 30 | YES |
N/A |
N/A |
YES |
N/A |
£5000 |
| Minster 60 | N/A |
YES |
N/A |
YES |
N/A |
£5000 |
| Minster 90 Plus | N/A |
N/A |
YES |
YES |
N/A |
£1000 |
| Cash ISA (Issue 2) | N/A |
N/A |
N/A |
N/A |
YES |
£250 (£100 for teachers) |
| Regular Saver (Issue 1) | N/A |
N/A |
N/A |
N/A |
YES |
£10 |
We reserve the right to reduce the interest rate if the balance falls below the minimum
Special Instructions
In practice and where the terms of the account allow, amounts will be paid out by cheque
from Head Office on the same day (occasionally the day after) that a properly completed
withdrawal form is received. In the case of Call Save, Regular Saver (Issue 1), Cash ISA (Issue 2) and Cash ISA 30 (Issue 2), cheque withdrawals are not available and withdrawal amounts will only be transferred to the nominated bank account. This service is also available to all account holders. Please call us for further details.
The central clearing system cycle for cheques (and automated payments, including those over the telephone or internet) is normally 3 working days. We do not allow withdrawals against a cheque until 6 working days after it has been paid in.
Cheques issued by the Society should be presented within 6 months.
(6) Fixed Rate Bonds
The terms and conditions for each Bond issue are referred to in literature supplied with the
application form.
(7) Change of Name and/or Address
This must be notified to the Society by letter accompanied by the appropriate certificate where
an investor's name is changed upon marriage, etc.
(8) Charges
Additional services are available by prior arrangement at the following scale of charges:
| Copy Statement | £15 |
| Withdrawals by Telegraphic Transfer | £30 |
| Unpaid Direct Debits and Cheques | £30 |
| Interim Statements | £15 |
| Duplicate Tax Certificates | £10 |
| Stopped Cheques | £13 |
| ISA Transfer Fee | £30 |
The Society reserves the right to make a charge of £30 for any cheques or direct debits which are returned unpaid.
Further information can be obtained from the Society.
DO NOT ALLOW YOUR STATEMENT OF ACCOUNT OR ANY WITHDRAWAL FORM TO FALL INTO THE HANDS OF ANY UNAUTHORISED PERSON.
