35-Day Charity Account

35-Day Notice Charity Account 

2.80% Gross*/AER*

Interest is calculated daily and added to your account annually on the 31^st March.

Yes, the rate is variable. That means we can move it, up or down.

Section 10 of our ‘Terms and Conditions for Savers’ explains when we can do this, and how we’ll let you know.

£10,280.00

This projection is provided for illustration only and does not consider individual circumstances. This assumes an initial deposit of £10,000, no further deposits or withdrawals being made over a 365-day period starting from the 1^st April, and that the interest rate does not change.

Eligibility

This account is available to:

• UK organisations whose principal office is domiciled in the UK and are registered with the Charity Commission for England & Wales, the Office of the Scottish Charity Regulator, or the Charity Commission for Northern Ireland.
• Community Interest Companies registered as such with the Office of the Regulator of Community Interest Companies and are incorporated as a CIC at Companies House

Restricted to one account per organisation.

Opening the account

To open an account, speak to our Customer Services Team on 0161 429 6262 or download an application form from our website.

Registered charities should use our Registered Charities Form and Community Interest Companies should use our Business Deposit Account Form.

Completed applications with all relevant documentation and identification should be sent to:

• customerservices@thevernon.co.uk, or by post to:

• Vernon Building Society, 19 St Petersgate, Stockport, SK1 1HF.

A minimum deposit of £10,000 is required to open the account.

From the date the account is opened, you have 14 days in which to change your mind and close it without notice or penalty.

Managing the account

A minimum of 1 signatory is required to operate the account. A maximum of 6 signatories can be registered on the account.

The initial deposit to open the account and all subsequent deposits must be made by bank transfer.

The maximum balance is £750,000 plus any interest that is added to the account.

Deposits cannot be made by other entities within a corporate group structure, unless these entities are also individually registered with the relevant Charity Commission/Regulator. Please speak to us as an alternative product may be available.

A statement for the account will be issued monthly by email. The balance of the account can be checked by phoning our Customer Services Team on 0161 429 6262.

Any amends to the set-up of the account or to signatories must be submitted to us in writing using the amendment form and authorised by the Appointed Officers.

Withdrawals from the account must be transacted by bank transfer to the nominated account at a UK Bank in the name of the account holder. A minimum balance of £10,000 must remain after a withdrawal.

Withdrawal requests from the Authorised Signatory(ies) can be submitted by email, attaching a scanned copy of our 3rd party withdrawal form. Requests can also be submitted by post.

You must notify us in writing or email, specifying the amount you wish to withdraw, 35 days before making a withdrawal. If this falls on a non-working day, the withdrawal will be made on the next working day. Withdrawals without notice are not permitted.

Please refer to section 12 of the Terms & Conditions for Savers brochure for further information.

The information contained in this summary box forms part of the terms and conditions of the account and should be read in conjunction with our Terms & Conditions for Savers.

*Interest rate terms explained:

AER

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Gross

The interest rate without tax deducted.