Important information about your savings account

Transcription

1 Important information about your savings account

2 Important information about your savings account 1 Thank you for opening a Kent Reliance savings account. This leaflet contains information to help you make the most of your account. Contents Paying money in 1 Taking money out 1 Managing cash ISAs 2 Staying in touch 2 Keeping us up to date 3 Protecting your information and money 3 Kent Reliance Provident Society 4 Paying money in You can pay money into your accounts, subject to the terms and conditions of any particular account. In general: Savings accounts Add to your savings as and when you like, up to a maximum balance of 1,000,000. Cash ISAs Add to your ISA, subject to HM Revenue & Customs (HMRC) limits and the terms and conditions of your account. Bonds You cannot add to bonds, but you can open additional bonds (subject to availability). Branch-based (passbook) accounts You can pay money in at branches, by standing order or by bank transfer (BACS/Faster Payment). To pay money in at branches, take your passbook and deposit (cash or cheque) into any of our branches. The transaction will be recorded in your passbook and the balance updated. Postal (statement-based) accounts You can pay money into a postal account by standing order or by bank transfer (BACS/Faster Payment). To pay money in by post, send a cheque (but not cash) made payable to one or more account holders to: Kent Reliance, PO Box 601, Chatham, ME4 9DX. If you have online access, you can also pay money in by logging on and initiating a debit card payment, or by logging on and making an internal transfer from another of your Kent Reliance postal or online accounts. You will not be able to make an online transfer from a branch-based account. Please make sure you write your account number on the reverse of your cheque. Please do not send cash in the post. Please do not send post-dated cheques. Kent Reliance accepts no responsibility for cheques which are cleared in advance of the date written on them. Cash deposits cannot be accepted for postal accounts. For customer service and training purposes, calls with Kent Reliance may be monitored and/or recorded. Online accounts You can pay money into accounts opened online by bank transfer (BACS/Faster Payments), debit card or by logging on and making an internal transfer from another of your Kent Reliance postal or online accounts. You can also make deposits and transfer from your existing passbook account into your online account in a branch. All you need to deposit or transfer in branch is two forms of ID, your signed passbook and your existing online account number. Unpaid cheques If you pay by cheque which is subsequently returned unpaid by the Bank or Building Society it is drawn on, we will debit your account with the amount of your cheque. We will inform you in writing and, if applicable, request your passbook in order for it to be amended. We will return the cheque to you on request. Cheque clearance times Cheques deposited at a branch on a working day will earn interest the same day. Cheques deposited on a non-working day will begin to earn interest the next working day. Cheques received on a non-working day or after 3.00pm on a working day at Head Office will begin to earn interest the next working day. You must allow six clear working days for clearance on all cheques paid in before a withdrawal can be made against them. Debit card clearance times Debit card payments will earn interest from the date of receipt. Debit card payments will be treated as cleared funds three working days following the date of deposit. Bank transfer (BACS/Faster Payment) and standing order To pay in by BACS transfer (sometimes called a bill payment), by Faster Payment or by standing order, please quote the following details: Sort code Account number Reference CHAPS payments Take the numbers from your account number and add a zero to the beginning. For example ABC KRB would become Quote the full account number of the account into which you are paying including the letters at the beginning and end, for example ABC KRB Please note: The above details cannot be used for CHAPS payments. To pay money in by CHAPS (payment processed within 24 hours), please use the following details: Sort code Account number Reference Quote your full account number including the letters at the beginning and end, for example ABC KRB Please note: Your bank may make a charge for sending funds by CHAPS. Taking money out You can write to Head Office or call us to request a withdrawal of cleared funds by cheque, BACS or Faster Payment subject to the terms and conditions of your account. Please make sure that you quote your account number and include your passbook if you have one. If you have a branch or postal account, withdrawals can be made by cheque, BACS or Faster Payment to another account. Cheques will only be sent to the address recorded for the account. Money transferred to a nominated account will arrive in the recipient s account within three working days of the withdrawal date. If you have online access, you can log on and make a withdrawal from an online or postal account. You will not be able to make an online withdrawal from a branch-based account.

3 Important information about your savings account 2 If you make an online withdrawal request, money will only be paid by BACS or Faster Payment to your nominated account. Your nominated account is the account that you provided when registering for online access. If you are requesting a withdrawal on a notice account, you should specify if you are giving notice to withdraw the money or if you want immediate access to the funds (where this option is available in the terms and conditions of the account, and subject to the relevant early closure/withdrawal penalty). Unless you are withdrawing from an online account where you have a nominated account please let us know which account you want your money transferred to at the end of the notice period. If you are requesting a withdrawal on a fixed term account during the fixed term, you will incur an early closure/withdrawal penalty as stated in the account terms and conditions. Cash withdrawals are not available for postal or online accounts. When we receive a transfer or withdrawal request, we may contact you by telephone to confirm your instructions. We may also contact you to make you aware of our current range of savings and bond products if your marketing preferences allow. Withdrawals of cleared funds are subject to the terms of your account. If you have a branch-based account, you can normally withdraw 500 in cash or 50,000 by cheque from passbook accounts in any one day, at any of our branches. A few days notice is required for cash withdrawals in excess of 500. The maximum you can withdraw in cash is 2,500. Managing cash ISAs All our ISAs accept transfers of cash ISA funds from other providers. To transfer in ISA funds from other providers To transfer ISA funds from another provider into an existing ISA you hold with us, simply complete one copy of a Kent Reliance ISA transfer form for each ISA you wish to transfer. These can be downloaded from kentreliance.co.uk or you can call us and we will post you the form(s) you require. If you wish to transfer ISA funds to a branch-based ISA, you may download a form from our website or visit one of our branches. To open a new ISA with us and to transfer ISA funds from another provider into the new ISA, please complete the relevant ISA application form as well as the Kent Reliance transfer form for each ISA you wish to transfer. These can be downloaded from our website or you can call us and we will post them to you. Please note: A request to transfer funds from another provider must occur within 30 days of your account being opened. We will only hold your request open for 30 days. If you have a notice account with your current provider, please check your notice period before submitting your request. Once we have received the completed Kent Reliance ISA form from you, we will need to contact your existing provider, so please allow up to 15 working days for a cash ISA transfer and 30 days for a stocks and shares ISA transfer from when we receive your form for the transfer to take place. Under HMRC regulations, you may not have two cash ISAs with different ISA providers at the same time both holding funds for the current tax year. If you open a cash ISA with us, and we are subsequently informed that you already have a current tax year cash ISA with another provider, we will amend the opening date of your ISA held with us to the official transfer date - normally the date your other ISA provider transferred funds to us. This will be deemed to be the date we accept your subscription and you will not earn interest prior to this date. If your total ISA subscriptions in a tax year exceed HMRC s limit, we will return any excess amount to you without interest, as soon as we become aware that the limit has been exceeded. Some providers may make a charge (such as an early closure charge) for transferring an ISA to Kent Reliance. You should check with your current provider before completing a transfer form; we are not responsible for charges made by other ISA providers. Interest is payable from the date transferred funds are received by us. To switch between different Kent Reliance ISAs To switch between our ISA products, simply complete and return the relevant application form. Forms can be downloaded from our website or you can call us and we will post one to you. Switching between ISAs is subject to availability and the terms and conditions of both accounts. For example, any early closure charge on your existing ISA may apply. To transfer ISA funds to another provider To transfer an ISA from us to another provider without losing its tax status, you will need to complete the other provider s application form and transfer form and return these to them. Your new ISA provider will then send the transfer form to us to initiate the transfer of your ISA (and start any notice period required). If you want to give notice to transfer an ISA you must indicate this on the new provider s transfer form, not by notifying us directly. Please note: If you have a passbook ISA, we will not be able to begin to process your transfer until we have received your passbook with a covering letter informing us of your intention to transfer. Passbooks in respect of transfer requests should be returned to Kent Reliance, PO Box 601, Chatham ME4 9DX. Once we have received your transfer instructions from your new provider, we may contact you by telephone or in writing to confirm your request to transfer and make you aware of our current range of ISA products. Important: An ISA transfer can take up to five working days from the date we receive all the necessary information. This includes receipt of the transfer request from your new ISA provider, receipt of your passbook (if applicable) and any other information we may need to complete the transfer. Kent Reliance cannot accept responsibility for delays in processing your transfer if they are caused by your new provider or if you have not provided all the necessary information. Staying in touch Keeping you up to date We will send you a statement every year (unless your account terms and conditions state otherwise). If you opened your account online your statement may be made available electronically. To register for Online Services simply visit our website online.kentreliance.co.uk. If you have a branch-based (passbook) account, you will be able to view your balance and transactions, but will not be able to make additional deposits or withdraw funds online from these accounts. Interest on your account Unless your account states otherwise you will receive annual interest on 5 April each year. If you have asked for monthly interest, this will be paid on the last working day of each month. For accounts other than cash ISAs, interest will be paid with tax deducted (known as net interest). If you do not pay tax, you can receive interest without the tax deducted (known as gross interest) if you complete the appropriate HMRC declaration form. This form is available for download from kentreliance.co.uk/downloads.

4 Important information about your savings account 3 Marketing material When you opened your account you will have let the Kent Reliance Group know your marketing preferences and whether you would like to be updated about products and services that we think may interest you. If you wish to change your marketing preferences you may do so at any time. If you have online access, simply log on and send us a secure message. Otherwise, write to us at: Kent Reliance PO Box 601 Chatham ME4 9DX Keeping us up to date Lost or stolen documents Please let us know immediately if you lose your passbook or other documents relating to your account. Changing your account details It s important that you keep us up to date with changes to important information such as your name, address, telephone number or address. You can let us know of any changes in the following ways: At branches Call into one of our branches. Please bring your passbook, another form of identification and evidence to confirm the changes. By telephone Call We will need to ask you some questions to verify your identity and may require you to write or provide evidence to confirm the changes. By post Write to us at PO Box 601, Chatham, ME4 9DX. Please make sure you sign your letter and provide evidence to confirm the changes. Online Log on to Online Services and send us a secure message. We will aim to first verify the changes electronically, but may require you to provide evidence to confirm the changes if we are unable to verify them online. Protecting your information and money Our regulatory status and codes of practice OneSavings Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registered number ) and is a member of the Building Societies Association and subscribes to the Financial Services Compensation Scheme. We ll always treat your account in strictest confidence We will treat all your personal information as completely private and confidential (even if you stop being a Kent Reliance account holder). The information which you provide to us (Kent Reliance), or which we obtain through our dealings with you or in connection with your account, will be held by us on our computers and in other records. Under the Data Protection Act 1998 (the Act ), you are entitled to know what information we hold about you and to ask us to correct any inaccurate details. Kent Reliance may charge for this service. If you have any questions about the Act or your rights under it, please write to the Head of Compliance, Kent Reliance, PO Box 601, Chatham ME4 9DX. How we may use your information We may use your personal information to help us to provide the products and services you apply for, to deal with your enquiries and requests, to improve the quality of our products and services or to conduct an electronic search on you via the services of external agencies in order to confirm your identity and comply with money laundering regulations. We may share your information with third parties (including law enforcement agencies) to protect both ourselves and our customers against theft or fraud. We may pass your information to anyone you appoint to administer/operate your account on your behalf. We may also disclose your details where we are required to do so by law, and to successors in title to our business, our service providers, appointed representatives and related entities (including Kent Reliance Provident Society Limited (the Provident Society )), subsidiaries of Kent Reliance or the Provident Society, or any subsidiary, holding company or affiliate from time to time of any entity named in this document (the Kent Reliance Group ) in order to provide the products and services you need. If your marketing preferences allow, the Kent Reliance Group and its carefully selected third party partners may use your information to identify and contact you about offers, products and services it or they believe will interest you. Where we transfer your personal information outside the European Economic Area, we will endeavour to protect your personal information in accordance with strict data protection standards. If you decide to become a member of the Provident Society, we will provide your details to the Provident Society so that it can register you as a member and provide membership services to you. To find out more about how the Provident Society uses your personal information, please see the section entitled How the Provident Society uses your personal information. If we get it wrong we ll put it right At Kent Reliance we are committed to giving you the best service at all times. If we do not deliver the standard of service you expect or if we make a mistake, we need to know so we can put things right. We aim to resolve all complaints by the close of business the following working day. If this is not possible, we will let you know that we have received your complaint and are investigating it. Full details of our complaints procedure can be obtained in our leaflet How we ll put things right, available from our branches, Head Office or website.

5 Important information about your savings account 4 We subscribe to the Financial Ombudsman Service While we hope to be able to resolve any problem through our internal complaints procedure, customers can appeal to the Financial Ombudsman Service after internal procedures have been exhausted. Details are included in our How we ll put things right leaflet. Important information about compensation arrangements We subscribe to the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a Bank/Building Society is unable to meet its financial obligations. Most depositors - including most individuals and businesses - are covered by the scheme. In respect of deposits, an eligible depositor is entitled to claim up to 75,000. Any deposits you hold above the 75,000 limit are unlikely to be covered. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the amount that could be claimed would be 75,000 each (making a total of 150,000). The 75,000 limit relates to the combined amount in all the eligible depositors accounts with the Bank/Building Society, including their share of any joint account, and not to each separate account. For further information about the scheme (including the amounts covered and eligibility to claim) please call us on , ask at your local branch, refer to the FSCS website or call or Kent Reliance Provident Society Membership of the Provident Society The Provident Society is a Co-operative and Community Benefit Society. This is a form of mutual organisation that exists to benefit its members to ensure that the voice of its members (the customers of Kent Reliance) is heard at all levels of the Bank including the Board. The Provident Society is the parent organisation of Kent Reliance, connecting its members to Kent Reliance Banking Services and its business. This is done in part through a membership scheme, which allocates membership points according to the amount of members account balances with Kent Reliance and the Provident Society, which will determine the financial benefits to which members may be entitled. In addition, your rights and responsibilities as a member of the Provident Society are set out in the rules of the Provident Society as adopted from time to time (the Rules ). Copies of the Provident Society Rules are available in the Provident Society section on the Kent Reliance website, through our branch network or from our Head Office. Please note that membership of the Provident Society is voluntary and you do not have to become a member of the Provident Society in order to open an account with Kent Reliance. However, please note that if you do not become (or cease to be) a member of the Provident Society, you will not be entitled to: receive notice of, attend and/or vote at any meetings of the Provident Society; any membership points (as described in the Rules); any dividend or other distribution (if any) declared or paid by the Provident Society from time to time; or any other right or benefit which the members of the Provident Society, solely in their capacity as members, are entitled to under the Rules of the Provident Society or otherwise. Further details on membership can be found at kentreliance.co.uk/provident-society. How the Provident Society uses your personal information The information which you provide to the Provident Society or which the Provident Society obtains through its dealings with you or in connection with your membership will be held by the Provident Society on its computers and in other records. The Provident Society will use your personal information to help it provide membership services to you, to deal with your enquiries and requests and to improve the quality of its membership services, and may conduct an electronic search on you via the services of external agencies in order to confirm your identity and comply with money laundering regulations. The Provident Society may also share your information with third parties to protect both itself and other members against theft or fraud and it may pass your information to anyone you appoint to administer/operate your membership on your behalf. The Provident Society may also disclose your details where it is required to do so by law and to successors in title to its business, its service providers, appointed representatives and related entities (including members of the Kent Reliance Group) in order to provide the products and services you need. If your marketing preferences allow, the Provident Society and its carefully selected third party partners may use your information to identify and contact you about offers, products or services that it or they believe will interest you. Where the Provident Society transfers your personal information outside the European Economic Area, it will endeavour to protect your personal information in accordance with strict data protection standards. If you have any questions about the Data Protection Act 1998 or your rights under it, please write to Kent Reliance Provident Society Limited, Reliance House, Sun Pier, Chatham, ME4 4ET or the Provident Society at members@krps.com. If you wish to become a member of the Provident Society, please tick the relevant box on the application form. If you subsequently wish to cancel your membership of the Provident Society, write to Kent Reliance Provident Society at the above address. For customer service and training purposes, calls with Kent Reliance may be monitored and/or recorded. krbs, Kent Reliance Banking Services and Kent Reliance are trading names of OneSavings Bank plc. Registered in England and Wales (company number ). Registered office: Reliance House, Sun Pier, Chatham, Kent, ME4 4ET. OneSavings Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registered number ). 533/HO/