Charities, Clubs & Associations

2.30% 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 ‘General Savings Account Terms and Conditions’ explains when we can do this, and how we’ll let you know.

£1,023.00

This projection is provided for illustration only and does not consider individual circumstances. This assumes an initial deposit of £1,000, 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 only available to organisations based in the following postcodes: BL, CH, CW, M, OL, SK, WA or WN.

This account is not available to organisations registered as political parties.

Opening the account

You can open an account in branch or by downloading an application form from our website and emailing to info@thevernon.co.uk or posting it to your nearest branch.

We will need a copy of the minutes of the meeting at which your organisation passed a resolution to open the account, together with proof of identity for all signatories.

Managing the account

You can operate your account in branch.

A minimum of 2 signatories are required to operate the account.

Signatories for Charities should be Trustees or persons authorised to sign by the trustees.

Signatories for Clubs or Associations should be the secretary and treasurer, or other officers authorised to sign by the managing body.

A minimum deposit of £1 is required to open the account. The maximum balance is £500,000.

Deposits can be made in branch by cash, cheque, standing order or online banking.

Withdrawals from the account can only be made in branch and can be made by cash, cheque, or Faster Payment.

There is no minimum withdrawal amount for this account. However, the minimum balance remaining after a withdrawal must be £1.

Please also refer to section 12 of the General Savings Terms & Conditions 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 General Savings Account Terms & Conditions.

*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.