Terms and Conditions

These Specific (Additional) Terms and Conditions apply in addition to the General Terms and Conditions unless stated otherwise. In the event of a conflict between the General Terms and Conditions and the Specific (Additional) Terms and Conditions, the Specific (Additional) Terms and Conditions shall prevail.

“Account” in these Specific (Additional) Terms and Conditions refers to a Personal Easy Access Account only.

1. Interest rates

1.1.Interest rates are variable and can be increased or reduced at any time at our sole discretion, for one or more of the following reasons:

• • to respond proportionately to changes in the base rate or any rate that replaces it,
  • to reflect changes in market conditions,
  • to respond to legitimate cost increases or reductions associated with providing the product or service,
  • to respond proportionately to changes in regulation, legislation, guidance, or any decision of the Courts or an Ombudsman, or
  • for any other reason, not stated above.

1.2. Interest will be calculated on the minimum daily balance and applied to the Account on the first day of every subsequent month.

1.3. Deposits into your Account will begin to accrue interest from the business day that they are received and applied to your Account.

2. Notifications of Change 

2.1. If we increase the interest rate on your Account, the change will take effect on the 1st day of the next calendar month (in certain cases, with immediate effect). We will also send you a notification of the increase via email within 30 calendar days of publishing the announcement.

2.2. If we decrease the interest rate, we will send you notice via email at least 14 calendar days before the decrease takes effect.

2.3. Where we reduce the interest rate on your Account, you have the option to close your Account at any time before the change without incurring charges or loss of interest, subject to the terms of these Specific (Additional) Terms and Conditions. If you wish to close your Account, please refer to Clause 5 of these Specific (Additional) Terms & Conditions.

3. Withdrawal of funds 

3.1. Withdrawal from your Account to your nominated bank account can be triggered via online banking, email, the mobile app, or telephone requests.

3.2. The minimum withdrawal amount is £1. If you make a withdrawal and the balance falls to £0, and remains at £0 for 6 months, your Account will be closed. The closed Account cannot be reopened, and you will have to open a new Account next time.

3.3. The maximum withdrawal amount is your Account balance.

3.4. If your withdrawal request is received (as per Clause 3.1) on a business day, the money will be sent back to your nominated bank account on the following business day. If it is received on a non-business day such as a Saturday, Sunday or a Bank holiday, the money will be sent back to your nominated bank account within 2 business days from the date of receipt of the withdrawal request.

4. Right to cancel 

4.1. You have the right to cancel the Agreement via email/phone (our contact details are available here) and close your Account within 14 calendar days from the date of your initial Account funding, or within 14 days of first receiving the Specific (Additional) Terms and Conditions (if later).

4.2. To cancel a joint Account, we will accept instructions to cancel the Account from either joint Account holder. Where we receive separate instructions, a joint decision will be required, and no action will be taken until both parties have confirmed that they wish to cancel the Account. This must be confirmed by both Account holders within 14 calendar days from the date of the initial Account funding, or within 14 days of first receiving the Specific (Additional) Terms and Conditions, whichever is later.

4.3. If you exercise your right to cancel, we will return any money you have deposited with us back to your nominated bank account. In the event of such a cancellation, you will not receive any interest. If we receive your request to cancel the Agreement and close your Account on a business day, the money will be sent back to your nominated bank account on the following business day. If we receive the request on a non-business day such as a Saturday, Sunday or a Bank holiday, the money will be sent back to your nominated bank account within 2 business days from the date of the cancellation request. If you do not cancel within this period, you will be treated as being bound by the Agreement.

5. Closure of Accounts

5.1. Please notify us via email/phone in case you would like to close your Account. We will send you (both joint Account holders in case of a joint Account) an Account closure statement via email when you close your Account.

5.2. If you close your Account on a business day, the money will be sent back to your nominated bank account on the following business day. If you close it on a non-business day such as a Saturday, Sunday or a Bank holiday, the money will be sent back to your nominated bank account within 2 business days from the date of your closure request.

6. How to contact us 

You can contact us using the details provided on our website here.