SURE START

An account specially designed to suit those under the age of 16. If you want to be sure of a competitive rate of interest and the chance to see your savings increase, then it’s the account for you. It has flexibility too – allowing you to save as much as you want, when you want, and the reassurance that you can draw out your savings when you need to without notice or loss of interest. 

Account name	Sure Start
Interest rates (AERs)	Gross Net AER £5+ 1.25% 1.00% 1.25% The interest rate is variable. It is added to your account twice a year - on the 30th June and the 31st December
Tax status	Interest is normally paid net after deduction of income tax or gross, subject to an individual certifying their eligibility using the HMRC form R85. If you are unsure of your eligibility to receive gross interest you can visit the HMRC website to find out more and to obtain the form R85.
Conditions for bonus payment	Not applicable
Withdrawal arrangements	Withdrawals may be made without notice and without penalty by presenting your passbook at any branch. Remember that your parent or guardian will need to sign the withdrawal form if you are under the age of 10. Upon reaching the age of 10 it is at your parent or guardian's discretion whether to allow you to make withdrawals without the need for their signature.
Access	Post / branch
Minimum/ maximum limits	Minimum: £5 Maximum: £250,000

Additional benefits:

• The opportunity to enter a competition every year with the chance to win fantastic prizes.
• Younger savers might like to take home one of our Vernon Bear money boxes to help them understand the importance of saving money.

What happens when I reach 16?

We will automatically transfer your savings into our Advantage account (for 16-20 year olds). You'll receive a letter telling you about this at the appropriate time.

Opening an account with the Vernon could not be easier – simply read through our Terms & Conditions, complete an application form and take or post it to your nearest branch along with your initial investment and identification documentation.

Parents or guardians signing on a child's account will need to provide us with proof of their name (usually via their passport or driving licence) plus proof of their permanent address (for example from a recent utility bill). Suitable ID for a child would be a birth certificate or passport plus proof of address such as NHS medical card or a child benefit letter which names the child and their address. Click here for a full list of acceptable identification documentation.

Please note that as a Society which aims to deliver products and services to local people we only accept applications from investors who live within a 25 mile radius of Stockport.