Savings FAQs

To change a name on your account, you will need to complete a Change of Name form (see link below) and provide proof of the change of name. We can accept the
following documents:

The document must be an original or a certified copy.

An official copy of a birth, adoption, death, marriage or civil partnership certificate, is the same as an original – you can order a copy of your certificate at gov.uk/ordercopy-
birth-death-marriage-certificate. A certified copy is a legally acceptable copy of almost any document, but it must be correctly certified by one of the following UK-based individuals (one who offers this service) and must be dated within the last three months:

• solicitor
• accountant
• bank/building society official
• independent financial adviser
• post office official
• minister of a recognised religion
• doctor, dentist or police officer.

The person certifying the document must not be related to any person named on the account. A correctly certified copy is one where the certifier:

• writes ‘Certified to be a true copy of the original seen by me’ on the document;
• signs and dates it;
• prints their full name under the signature; and
• adds their occupation, business address and telephone number.

Click below to download the Change of Name form (or contact us to send you one), and when completed please take (or post) it with the document and your passbook to one of our branches or agencies.

If you have changed your phone number or email address, please let us know without delay. You can inform us in four ways.

• Call us on 0800 434 6343.
• Send us a secure message on H&R Online.
• Visit your local branch.
• Post a signed request (a letter) to Hinckley & Rugby Building Society, Upper Bond Street, Hinckley, LE10 1NZ.

For a joint account, each account holder must inform us of any changes to their own contact details.

If you have changed your address, you can inform us in three ways.

• Call us on 0800 434 6343.
• Visit your local branch.
• Post a signed request (a letter) to Hinckley & Rugby Building Society, Upper Bond Street, Hinckley, LE10 1NZ.

To protect you from the risk of fraud, we will carry out an electronic ID check to confirm your new address. If this is unsuccessful, we will contact you to provide a document that confirms your new address, such as a recent bank statement.

All customers under 18 years of age need to provide a document confirming their new address, such as a recent bank statement. If they do not have proof of address in their own name, we will accept a document in the name of a parent or guardian who is living at the same address.

The Society takes your privacy seriously and will only use your information to manage your account and to provide the products and services that you have requested from us. However, from time to time we would like to contact you about other relevant products or services that we provide.

We ask you to indicate your marketing preferences when you open an account with us. You can change those preferences at any time or ask us to stop contacting you for marketing purposes. You can do this in-branch or by contacting us on 0800 434 6343 or dataprotectionofficer@hrbs.co.uk, or by sending us a secure message on H&R Online.

If you need short-term help to withdraw money from one of your accounts, you can nominate a person you trust to act as your Authorised Representative. This means they can make withdrawals on your behalf, but their power to act on your behalf is limited. You can request this for just a one-off withdrawal or for a longer period of up to two years.

If you need someone to help you fully manage your account, and more permanently, you may wish to consider a Legal Power of Attorney (LPA). With an LPA, you can still manage the account yourself, but your attorney (representative) would also have the power to fully manage the account on your behalf. An LPA includes legal safeguards to protect you and your money.

For more information about setting up an Authorised Representative, please click below. You can also call us or visit one of our branches or agencies.

You can arrange an LPA yourself or you can ask a solicitor to do it for you. You can get more information by:

• visiting the government website gov.uk/power-of-attorney, or
• calling the Office of the Public Guardian on 0300 456 0300.

If you do arrange an LPA, you can find out how to register it with us by clicking below.

You can pay money into your account (depending on the terms and conditions of your account) in three ways:

• You can set up a Standing Order for regular amounts, or a one-off Faster Payment, from your bank account.
• You can pay in a cheque at any of our branches or agencies, in person or by post.
• You can pay cash into your account at any of our branches or agencies, but cash must not be sent by post.

Please see ‘Bank details for the Society’ for our bank account details.

To pay money into your account online or set up a regular Standing Order, please use these details:

Account type: Personal account
Payee’s full name: Your full name
Sort code: 40-05-30
Account number: 74575938
Reference or roll number: Your 11-digit Hinckley & Rugby savings account number (with no spaces), which can be found in your passbook. Without this, we will not be able to allocate the money to your account, and it will be returned to sender.

If you have a deposit account (business, charity or local council), the account type is Business account and the payee is the account name of your organisation.

The maximum total personal investment allowed with the Society is £500,000. Each type of savings account has its own limits: the maximum you can hold in the account and how much you can add to it (e.g. each month or year). These limits are shown on the product page for each type of account and in the special terms and conditions provided with each account.

For paying in cheques, there is a daily limit of 10 cheques. For paying in cash, there is a daily limit of £3,000 in notes and £20 in coins (correctly bagged in no more than five bags).

When you pay a cheque into your savings account, the money is available to withdraw from the start of the sixth business day (Monday – Friday, excluding bank holidays) following the day it is paid in.

Examples

• A cheque paid in on Monday will normally be available to withdraw from 9am on Tuesday of the following week.
• A cheque paid in on Friday will normally be available to withdraw from 9am on Monday of the second following week.

If a cheque is returned by our bank unpaid, we will call or write to you to confirm why this has happened. Please note that we charge the account holder £10 for a returned cheque (see our Tariff of Savings Charges).

Each type of savings account has its own conditions for making withdrawals. These are shown in your passbook, on the product page for each type of account, and in the special terms and conditions that we provide with each account. For general information, you can see full details of the various withdrawal methods in our general Savings T&Cs.

Depending on your type of account, you may be able to request a withdrawal in the following ways:

• By cheque, instantly at one of our branches or agencies, or by making the request on our H&R Online service or by contacting our head office.
• By cash at one of our branches or agencies. Please note that there is a daily cash withdrawal limit of £500.
• By electronic transfer (Faster Payment) to your nominated bank account. You can request this on our H&R Online service, at one of our branches or agencies, or by contacting our head office. There is a daily limit of £25,000.
• CHAPS (same-day telegraphic transfers) can be made to another person or organisation, or for amounts larger than £25,000. There is a fee for a CHAPS transfer.

Each type of savings account has its own conditions for making withdrawals. These are shown on the product page for each type of account and in the special terms and conditions provided with each account.

For all our Notice savings accounts, you are required to give notice for any withdrawals or to close the account. The amount of notice depends on the type of account. You can give notice on our H&R Online service, at a branch or agency, by calling us or by writing to us.

A withdrawal cannot be made from a Fixed Rate Bond until the end of the term.

Where an ISA requires a notice period for withdrawals, an instant withdrawal is allowed but there will be an interest penalty.

You can close your savings account at any of our branches or agencies, or by writing to us (either to your branch or to our head office). Please provide your passbook at the same time.

Please be aware that notice may be required for certain accounts before funds can be released and the account closed. A Fixed Rate Bond can only be closed at the end of the fixed term. Please see your account passbook for more details, or contact us if you need more information.

Details of how to open an account with us can be found on the link below.

If you are registered for H&R Online, you can check your balance at any time. Please note that it may take up to two business days for payments to be updated on our system. If you have not yet registered for H&R Online, you can do this below. Once you have registered, you will receive a letter through the post with an activation key so that you can start using the service.

If your account has a passbook and it was updated with your last transaction, this will include your current balance. If you have not had your passbook updated recently, please take (or post) it to one of our branches or agencies.

You can also find out your balance by calling us on 0800 434 6343.

Click below for more information on how to manage your account.

If your passbook has been lost or stolen, please contact us immediately so that we can make sure your account isn’t used without your authority. You can:

• Call us on 0800 434 6343 (9am – 5pm Monday to Friday and 9am – 12pm Saturdays).
• Contact or visit one of our branches or agencies.
• Send us a secure message on H&R Online.
• Contact us using our enquiry form (but be aware that this is not a secure messaging option).

Losing a loved one is a very difficult time. We do our best to make the process of dealing with their Hinckley & Rugby accounts as easy and straightforward as possible.

Please click below to see how we can help.

For help finding an account that has not been active for a long time, or has been forgotten about, please click below.

You can manage your account using our H&R Online service. If you have not yet registered for H&R Online, you can do this below. Once you have registered, you will receive a letter through the post with an activation key so that you can start using the service.

The Society is committed to being an environmentally friendly organisation. We believe in digitalisation and its positive effects on reducing the amount of paper that is printed and wasted.

Society communications and notices, including AGM information and voting packs, may be sent to you electronically if you have given us your email address or phone number for SMS.

You can opt in or out of receiving electronic communications in-branch, by contacting us on 0800 434 6343 or customerservice@hrbs.co.uk, or by sending us a secure message on H&R Online.

Interest is paid on a monthly or yearly basis, depending on the type of account. For an account that pays interest monthly, it is paid at the end of each month. For an account that pays interest annually, that means it is paid after the end of the Society’s financial year. Annual interest is paid on 1 December each year. For an ISA, interest is paid on 5 April each year.

Where the earned interest is paid into the account (rather than paid to you separately, such as to your nominated bank account), further interest then compounds on the previous month’s or year’s balance.

Information about how interest can be paid is in the special terms and conditions that are provided with each account. If you are unsure, simply contact us.

Example – interest paid annually.

Let’s say you deposit £1,000 into an account that pays 4% interest, and make no further deposits and no withdrawals (and the rate doesn’t change). After 365 days, you would have earned £40 interest. Since we pay interest annually on 1 December, your first interest payment will likely be for part of a year, calculated daily from when you open the account.

Example – interest paid monthly.

Using the same example and conditions, at the end of month 1 you would be paid (let’s say) £3.33 interest. The actual figure depends on the number of days in the month and the date you open the account. At the end of month 2, you would earn interest of (about) £3.34 based on a balance of £1,003.33. At the end of month 3, you would earn interest of (about) £3.36 based on a balance of £1,006.67, and so on.

Interest earned on a deposit

For cash deposits and electronic transfers, interest is earned from the day we receive it.

For cheque deposits, interest is earned from the day after we receive it.

Interest earned on a withdrawal

When you make a withdrawal or close an account, the interest that is due to you on that amount is calculated on a daily basis up to and including the day before the withdrawal or closure.

Interest changes

Please see our interest rate history page by clicking below, which will show the dates of any interest rate changes on your account during the last year.

The Personal Savings Allowance means most people no longer pay tax on their savings income.

• If you are a basic rate taxpayer, you can earn £1,000 of interest without paying tax.
  
• If you are a higher rate taxpayer, you can earn up to £500 of interest without paying tax.
  
• If you are an additional rate taxpayer (45%) you don’t get an allowance.

If you have savings income over your Personal Savings Allowance, you are responsible for making sure you are paying the correct tax directly to HM Revenue & Customs.

For further information please visit gov.uk.

Interest from ISAs does not count towards your Personal Savings Allowance because it’s already tax free.

The interest rate for some of our accounts is variable, which means it can change. For example, the rate may go up or down if the Bank of England changes its base rate.

Some of our accounts have a fixed rate of interest, which means the rate will not change during a stated period of time. When the fixed-rate period ends, the account will ‘mature’. This means the account will end, and we will offer you a choice of other accounts that may be suitable for you to continue saving with us.

The type of interest for each account that we currently provide is made clear on the product page for the account. It is also stated in the special terms and conditions that are provided with each account. If you are unsure, simply contact us.

We review our interest rates from time to time, and when the Bank of England changes its base rate.

An account with a fixed rate of interest will not be affected by any change during the fixed-rate period. If you have a fixed-rate account, the fixed-rate period is stated in the special terms and conditions for your account. If you are unsure, simply contact us.

An account that is linked to the Bank of England base rate is called a Tracker Account. If the base rate changes, the interest rate for the account will change in line with the new base rate within one month of the change. This happens automatically, and account holders are not normally informed (although interest rates are always displayed in our branches and on our website, and are available by contacting us).

An account with a variable rate of interest may change following a review of our rates or when the Bank of England changes its base rate. If your variable rate goes down, we will inform you at least 14 days before the change takes place. If a change in our rate is due to a change in the Bank of England base rate, we will make the change within one month of the date the Bank of England’s new rate comes into effect.

A Statement of Interest shows how much interest you received (were actually paid) during the previous tax year. It is a document that you can provide to HMRC for tax purposes, if necessary.

A Statement of Interest is normally only needed if HMRC requests one, and after the end of the tax year (5 April). If you need one, please contact us after that time (see below).

However, if you need one before the end of the tax year, we can issue one and we will mark it ‘Interim’ to show that it is for a part-year. To provide evidence of interest earned between the interim Statement and the end of the tax year, you would need to request another one from us after that time.