Charity Accumulator – 120 Day Notice

We may change interest rates at any time if we reasonably believe that the change is needed, for any of the reasons outlined in the Savings Account Terms and Conditions booklet, Condition 7.

Based on an initial deposit of £1,000.00, after a 12 month period the estimated balance would be £1,041.50.

These figures are provided for illustrative purposes only and assume that no further deposits or withdrawals are made and there is no change in interest rate. They do not take into account individual circumstances.

This account is available to Incorporated and Unincorporated Registered Charities.

This account can be opened and managed by post or at any of our branches and agencies. You can also manage your account by telephone. Complete the application form and the declarations and consents. Take the completed documents, your deposit and the required identification to one of our branches or agencies, or post them to us at the address in this document.

We require at least two signatories operating the account, with a maximum of four. Incorporated charities must have at least one Director as a signatory to the account.

The minimum deposit required to open and maintain this account is £1,000 and the maximum deposit is £500,000. The opening deposit must include or be fully made up of either a cheque drawn on the charity’s bank account, payable to your charity name, or by electronic funds transfer from the charity’s bank account.

Please note, the minimum deposit must be credited to your account within 5 working days of the account being opened. If you fail to do so, you will be required to restart the application process.

Further deposits

To pay money into your account by electronic transfer, please use these details:

Account type: Business account
Account name: The account name of your organisation
Sort code: 40-05-30
Account number: 74575938
Reference or roll number: Your 11-digit Hinckley & Rugby account number. Without this, we will not be able to allocate the money to your account and it will be returned to sender.

You can also pay in cash and cheques at any of the Society’s branches or agencies. Additionally, cheques can be accepted by post (to the branch or to our head office).

Contact us on 0800 434 6343 if you require any assistance. Opening hours are 9am to 5pm, Monday to Friday (closed on Bank Holidays).

Withdrawals can be made by cheque or electronic funds transfer to the charity’s nominated bank account.

Withdrawals can be made subject to a 120 day notice period. You can give notice by telephoning us on 0800 434 6343, at a branch or in writing.

Withdrawals must be made within 14 days of the notice period becoming effective. Instant withdrawals outside of the notice period will not be allowed. The total amount on notice (including all pending notice) must not be more than the balance of the account.

Electronic funds transfer:

When the notice becomes effective, withdrawals up to and including £250,000 will be processed on the first business day, and credited in your bank account the same business day. No charge will be made for this service.

For withdrawals over £250,000 – These funds are sent by telegraphic transfer (CHAPs), there is a charge for this service (please refer to the current tariff of charges in the Interest Rates for Savers leaflet or on the Society’s website hrbs.co.uk/important-account-information/).

Withdrawal requests for an electronic funds transfer to the charity’s nominated bank account can be made by telephoning us on 0800 434 6343 or by visiting one of the Society’s branches or agencies. All other withdrawal requests can be made by post or by visiting one of the Society’s branches or agencies.

Money can be paid out against a cheque used to open the account from the start of the sixth business day following the day of deposit. Funds will be available for immediate withdrawal for all other types of deposit. Business day means a day other than a Saturday, Sunday or Bank Holiday.

Interest is paid gross without tax deducted.

* Gross rate – the annual rate of interest payable without any deduction of tax.

** AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once a year.