60 DAY DIRECT

Our 60 Day Direct account is ideal for those customers who require the convenience of being able to transact by post and can give 60 days' notice for withdrawals.

Account name	60 Day Direct
Interest rates (AERs)	Including bonus Gross Net AER £1,000 - £9,999 2.25% 1.80% 1.75% £10,000 - £99,999 3.00% 2.40% 2.50% £100,000+ 3.25% 2.60% 2.75% Excluding bonus £1,000 - £9,999 1.25% 1.00% 1.25% £10,000 - £99,999 2.00% 1.60% 2.00% £100,000+ 2.25% 1.80% 2.25% The interest rate is variable. Interest (including any bonus interest) is calculated on a daily basis and is added to your account annually on the 31st March. We will pay introductory bonus interest of 1% for the first 6 months on new accounts. If, at any time, the balance on your account is below the minimum balance of £1,000 we will reduce the rate of interest payable to the rate of interest which is paid on our Instant Access account.
Tax status	Interest is either 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	None
Withdrawal arrangements	Withdrawals require 60 days' notice to be given. Immediate access is available with the loss of 60 days' interest on the amount withdrawn. The minimum withdrawal amount is £250.
Access	Post
Minimum/ Maximum limits	Minimum: £1,000 Maximum: £250,000
Other conditions	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.

Operating the account

You will be provided with a pack containing all the stationery you require to: 

Pay money In

• By post using the paying in slip and pre-paid envelope.
• By Standing Order or BACS transfer from your bank account. To do this you will need to quote the sort code 08-90-24 and account number 70236215, using your Vernon account number as the reference number.

Withdraw money

• By post using the withdrawal slip and prepaid envelope provided. The minimum withdrawal amount is £250.

Withdrawals are paid via the BACS system directly to your bank account and will normally be available within 4 working days after the 60 day notice period has expired. You can withdraw funds without notice, however this will result in the loss of 60 days' interest on the amount withdrawn. Alternatively we can transfer your withdrawal to another Vernon account in your name.

Keep up to date

Each time a transaction is carried out on your account we will issue a transaction advice slip giving details of the transaction and a balance update. In addition we will provide you with a statement every half year in April and October.

Simply read our Terms & Conditions, download and complete the application form and return it with proof of identity documentation (Click here for details of our identification requirements) to: Vernon Direct, Vernon Building Society, 19 St. Petersgate, Stockport SK1 1HF.