Charity Account


This instant account is available to registered Charities.  Suitable for Charities with surplus funds with a low volume of transactions.
 

Summary Box - Key Product Information

What is the interest rate?

  • £0-£100,000.00                           0.75% AER

  • £100,000.00 -£200,000.00           0.50%AER

  • £200,000.00-£250,000.00             0.15% AER

  • £250,000 and above                    0.00%AER

  • Interest is calculated on a daily basis and will be credited to the account on 31st December annually.

  • Interest can be transferred into another Bath Building Society account, or paid by faster payment into a nominated account if preferred.

Can Bath Building Society change the interest rate?

  • The interest rate is variable which means we may change it to respond to changes in the Bank of England base rate or changes in law, to meet relevant regulatory requirements, or to respond to changes to codes of practice or changes in our costs.

  • We will give you 30 days’ notice in writing before any reduction to the rate is applied.

  • Full details of the reasons why we may change your interest rate can be found in the General Terms and Conditions leaflet, under Section 7.

What would the estimated balance be after 12 months based on a £1,000 deposit?

  • Based on the current rate of interest, if you deposited £1,000.00 in this account, after 12 months you would have £1007.50

  • This figure is only an estimate, based on there being no additional deposits, withdrawals or rate changes in that time with all interest being added to your account. This figure is for illustrative purposes only.

How do I open and manage my account?

  • Accounts are opened by completing a Business Savings Account application form, available from any Branch, Agency Office, or by contacting our Customer Support Department. Alternatively, this can be downloaded from our website.

  • Personal details and identification are required for all signatories and persons with significant control.  This is usually obtained through our electronic Equifax search facility. However, if this proves inconclusive then two original or certified forms of identification are needed to prove name and verification of address. Ideally, these will be a passport, driving licence and recent utility bill. All signatories must be over 18 years old.

  • .A check will be made against the Charities Commission Register.

  • A letter from the Charities governing body will be required to open the account.

  • Accepted charities must include a letter from their governing body stating their intention to open an account, the names of the signatories and the number required to operate the account.

  • An initial deposit of at least £1 is required to open the account, payable in the name of the account title. This and future deposits can be paid by cheque from a UK bank in the name of the business or charity, or by electronic transfer.

  • Minimum operating balance £1.

  • Maximum balance £1,500,000.00.

  • A passbook is available on request and will be required if you would like to carry out transactions in any of our Branches or Agencies.

  • It is possible to view all the accounts you hold with Bath Building Society by registering with Bath Online through our website www.bathbuildingsociety.co.uk

Can I withdraw money?

  • Funds are available on request and can be withdrawn without penalty up to a maximum of 2 per calendar month.

  • All withdrawals will be made direct to the designated UK bank account, which has been set up in the same name as the Bath Building Society account, by next day faster payment.

  • Withdrawals by cheque can also be requested in any of our Branches and Agencies.

  • Signed requests should be posted to the Society’s Head Office. Alternatively, we will accept instructions from a prenominated email address.

Additional Information

  • Applicants are asked to confirm that they have read the FSCS information and exclusion sheets.

  • This is a summary of the key features of the account. You should read both the Savings Accounts and General Terms and Conditions leaflets to ensure you fully understand how your account works.

Version: November 2019

Further Information