This section sets out the Product Terms and Conditions.
You must also read the General Investment Conditions, as
these apply to your account. (Please note the General Investment conditions do not apply to Albion Cheque and Premier Current Accounts. These Accounts have their own terms and conditions)
If there is a conflict between the General Investment Conditions and the Product Terms and Conditions then the Product Terms and Conditions will take precedence.
Although this is an online document, and therefore you can easily return to this page for future reference, you may wish to print the relevant Product Terms and Conditions, along with the General Investment Conditions and product key features page.
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Albion
Investment
Product Terms and Conditions |
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The Society's General Investment Conditions
will apply unless (and to the extent) they are inconsistent
with these Terms and Conditions. |
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| 1. |
Albion Investment is a variable rate account. |
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| 2. |
Albion Investment is not available to non-UK residents, executors, trustees, nominees, minors or corporate bodies. |
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| 3. |
Albion Investment is limited to one account per customer. |
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| 4. |
The minimum investment and operating balance is £2,500. The maximum investment and operating balance is £1,000,000 (£2,000,000 for joint accounts). |
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| 5. |
Additional funds, up to the maximum investment and operating balance of £1,000,000 (£2,000,000 for joint accounts), may be invested whilst the issue remains open for further investment. |
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| 6. |
Interest is calculated daily and paid annually on 1 June. |
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| 7. |
Interest can either be credited to the account or transferred either to another building society/bank account or to another account held with the Society. |
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| 8. |
Withdrawals can be made at any time (minimum £100) without notice or loss of interest subject to the minimum balance of £2,500 being maintained. If the account falls below £2,500 at any time, the account will be closed. The account can be closed at any time without notice or loss of interest. Cash withdrawals are not permitted. |
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| 9. |
Albion Investment will be operated on the basis of first class post. The Society aims to deal with all transactions within two working days of receipt of a request. However, the Society cannot be held responsible for delays due to unforeseen circumstances and postal delays. |
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| 10. |
Cheques and correspondence will only be sent to your home address (including third party cheques). |
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| 11. |
Albion Investment cannot be operated through any of the Society’s branches or agents. |
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| 12. |
Albion Investment may be withdrawn without notice. |
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Postal
Max
Product Terms and Conditions |
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The Society's General Investment Conditions
will apply unless (and to the extent) they are inconsistent
with these Terms and Conditions. |
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| 1. |
Postal Max is a variable rate account. |
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| 2. |
Postal Max is not available to non-UK residents, executors, trustees, nominees, minors or corporate bodies. |
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| 3. |
Postal Max is limited to one account per customer. |
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| 4. |
The minimum investment and operating balance is £2,500. The maximum investment and operating balance is £1,000,000 (£2,000,000 for joint accounts). |
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| 5. |
Additional funds, up to the maximum investment and operating balance of £1,000,000 (£2,000,000 for joint accounts), may be invested whilst the issue remains open for further investment. |
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| 6. |
Interest is calculated daily and paid annually on 31 January. |
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| 7. |
Interest can either be credited to the account or transferred either to another building society/bank account or to another account held with the Society. |
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| 8. |
Access is limited to two withdrawals (minimum £100) per calendar year, without notice or loss of interest, subject to the minimum balance of £2,500 being maintained. Withdrawals are by cheque only.
9. |
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| 9. |
Postal Max will be operated on the basis of first class post. The Society aims to deal with all transactions within two working days of receipt of a request. However, the Society cannot be held responsible for delays due to unforeseen circumstances and postal delays. |
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| 10. |
Cheques and correspondence will only be sent to your home address (including third party cheques). |
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| 11. |
Postal Max cannot be operated through any of the Society’s branches or agents. |
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| 12. |
Postal Max may be withdrawn without notice. |
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Fixed Rate Postal Access Bond
Product Terms and Conditions |
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The Society's General Investment Conditions
will apply unless (and to the extent) they are inconsistent
with these Terms and Conditions. |
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| 1. |
The Fixed Rate Postal Access Bond is a fixed rate, fixed term account. |
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| 2. |
The Fixed Rate Postal Access Bond is not available to non-UK residents, executors, trustees, nominees, minors or corporate bodies. |
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| 3. |
The Fixed Rate Postal Access Bond is limited to one account per customer. |
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| 4. |
The minimum investment and operating balance is £1,000. The maximum investment and operating balance is £100,000 (£200,000 for joint accounts). |
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| 5. |
Additional funds, up to the maximum investment and operating balance of £100,000 (£200,000 for joint accounts), may be invested, whilst the issue remains open for further investment. |
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| 6. |
The Fixed Rate Postal Access Bond will mature at close of business on 4 May 2009. On the day after maturity (5 May 2009), the Society will transfer your investment (including interest) to a Maturity Tracker Bond (Issue 15). Full terms and conditions for the Maturity Tracker Bond (Issue 15) are provided below. |
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| 7. |
Interest is calculated daily and paid on maturity (4 May 2009). |
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| 8. |
Interest can either be credited to the account or transferred either to another building society/bank account or to another account held with the Society. |
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| 9. |
Withdrawals can be made at anytime, without notice or loss of interest, subject to the minimum balance of £1,000 being maintained. If the account falls below £1,000 at any time, the account will be closed. |
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| 10. |
The Fixed Rate Postal Access Bond is a limited issue and may be withdrawn without notice. |
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| 11. |
The fixed interest rate is related to long term market rates at the time of issue. Future fixed rate products may be offered at higher or lower rates depending upon changes in market conditions. |
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| 12. |
The Fixed Rate Postal Access Bond will be operated on the basis of first class post. The Society aims to deal with all transactions within two working days of receipt of a request. However, the Society cannot be held responsible for delays due to unforeseen circumstances and postal delays. |
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| 13. |
Cheques and correspondence will only be sent to your home address (including third party cheques). |
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| 14. |
The Fixed Rate Postal Access Bond cannot be operated through any of the Society’s branches or agents. |
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Maturity Tracker Bond (Issue 15) -
Effective from 5 May 2009
Product Terms and Conditions
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The Society's General Investment Conditions
will apply unless (and to the extent) they are inconsistent
with these Terms and Conditions. |
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| 1. |
The Maturity Tracker Bond (Issue 15) is a variable rate, fixed term account. The rate of interest is variable and will be equivalent of the Bank of England Base Rate until maturity (31 October 2010). |
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| 2. |
The Maturity Tracker Bond (Issue 15) is not available to non-UK residents, executors, trustees, minors or corporate bodies. |
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| 3. |
The Maturity Tracker Bond (Issue 15) is limited to one account per customer. |
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| 4. |
The minimum investment and operating balance is £1,000. The maximum investment and operating balance is £100,000 (£200,000 for joint accounts). |
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| 5. |
Additional funds, up to the maximum investment and operating balance of £100,000 (£200,000 for joint accounts), may be invested, whilst the issue remains open for further investment. |
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| 6. |
The Maturity Tracker Bond (Issue 15) will mature at close of business on 31 October 2010. On the day after maturity (1 November 2010), the Society will transfer your investment (including interest) to another maturity account. Full details, including terms and conditions, will be provided before maturity. |
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| 7. |
Interest is calculated daily and paid annually on 31 October 2009 and on maturity (31 October 2010). The interest rate payable is guaranteed to track the Bank of England Base Rate until maturity (31 October 2010). In accordance with this guarantee, changes to the Bank of England Base Rate will be passed on from the first day of the following month. |
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| 8. |
Interest can either be credited to the account or transferred either to another building society/bank account or to another account held with the Society. |
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| 9. |
Withdrawals can be made at anytime, without notice or loss of interest, subject to the minimum balance of £1,000 being maintained. If the account falls below £1,000 at any time, the account will be closed. |
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| 10. |
The Maturity Tracker Bond (Issue 15) is a maturity account only and is not available to new customers. |
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Albion
30
Product Terms and Conditions |
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The Society's General Investment Conditions
will apply unless (and to the extent) they are inconsistent
with these Terms and Conditions. |
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| 1. |
Albion 30 is a variable rate account. |
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| 2. |
Albion 30 is not available to non-UK residents, executors, trustees, nominees, minors or corporate bodies. |
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| 3. |
Albion 30 is limited to one account per customer. |
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| 4. |
The minimum investment and operating balance is £5,000. The maximum investment and operating balance is £1,000,000 (£2,000,000 for joint accounts). |
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| 5. |
Additional funds, up to the maximum investment and operating balance of £1,000,000 (£2,000,000 for joint accounts), may be invested whilst the issue remains open for further investment. |
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| 6. |
Interest is calculated daily and paid annually on 1 June, or monthly on the last working day of the month. |
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| 7. |
Annual interest can either be credited to the account or transferred either to another building society/bank account or to another account held with the Society. Monthly interest must be transferred either to another building society/bank account or to another account held with the Society. |
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| 8. |
Unlimited withdrawals (minimum £100) without loss of interest providing you give 30 days written notice. Immediate withdrawals can be made subject to 30 days loss of interest. Cash withdrawals are not permitted and are subject to the minimum balance of £5,000 being maintained. |
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| 9. |
The Albion 30 account cannot be operated through any of
the Society's branches or agents. |
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| 10. |
Cheques and correspondence will only be sent to your home address (including third party cheques). |
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| 11. |
Albion 30 cannot be operated through any of the Society’s branches or agents. |
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| 12. |
Albion 30 may be withdrawn without notice. |
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