Who can apply for a Sensible Savings Fixed Term Bond?
To be eligible to apply for a Sensible Savings Fixed Term Bond, you must be a UK resident and over 18 years of age. You must also hold an existing current account with a UK bank. Applications can be made in your sole name or as a joint application with one other person. Sensible Savings Fixed Term Bonds are available only to individuals – companies, charities, clubs or associations are not eligible to apply.
How do I apply for a Sensible Savings Fixed Term Bond?
Open an account in minutes with our quick and easy online application or simply download an application form from our website under Download Documents or by clicking here. Once you have fully completed and signed the form, post it to us together with a cheque drawn on your UK bank account for the amount which you wish to invest. Please ensure you have read and understood the Key Features and Terms and Conditions before you apply.
How do I make my deposit?
By Internet Banking, BACS or CHAPS
You can make your deposit by applying online and using your Bank’s internet banking facility if available to you or contact your Bank or Building Society. Please use the account details given to you in the final step of the online application to make the transfer.
You will also need to correctly quote your application reference when making the transfer as any error could result in a delay in allocating the money to your account or returning the funds to your Bank. This reference is a unique number and will be assigned to you when you submit your application online. You will start to earn interest as soon as you have completed your online application and we have received your funds.
You may be charged a fee by your Bank for this service or monetary limits may apply – please check with your Bank.
Please download an application form from our website under Download Documents or by clicking here.
Once you have fully completed and signed the form, post it to us together with a cheque drawn on your UK Bank account for the amount which you wish to invest. Your cheque must be payable to yourself or both of you if you are making a joint application. If you are making your deposit by cheque you will start to earn interest as soon as your cheque has cleared and will continue to earn interest up to, but not including, the day we repay you.
Please ensure you have read and understood the Key Features and Terms and Conditions before you apply.
The application form, together with your cheque should be posted to our registered address at 4 Royal Court, Gadbrook Way, Gadbrook Park, Northwich, Cheshire, CW9 7UT.
How much can I invest?
Sensible Savings Fixed Term Bonds are available for deposit amounts between a minimum of £5,000 and a maximum of £500,000. However, you may apply for more than one Sensible Savings Fixed Term Bond if you wish.
Will I be able to access my funds prior to the maturity of the Bond?
No – you will not be allowed access to the funds until the Bond matures. We will write to you approximately three weeks prior to the maturity date to ask whether you wish us to repay the amount of your bond together with accrued interest to the bank account specified in your application form or whether you wish us to re-invest the funds in a new Bond. We will advise you of your options and give details of any new Fixed Term Bonds which we may offer at that time.
Will I receive a statement?
We will send you confirmation of the details of your investment, including the amount invested, the applicable interest rate, the maturity date and the total amount payable on maturity. We will send you a similar confirmation after your Bond has been open for one year and again just prior to the maturity of the Bond.
Will I have Internet Access?
No – internet access will not be available as this is a fixed term product and no withdrawals are allowed prior to the maturity of the Bond. We will however, provide you with confirmation of the amount which you have invested, the applicable interest rate, the maturity date and the total amount payable on maturity.
Who do I contact if I have any queries?
If you have any queries about your investment then please contact our friendly Savings Team on 01606 815440 who will be pleased to assist. Lines are open from 9am to 5pm weekdays (excluding UK bank holidays).
Who do I inform if my personal details change?
If your personal details change (e.g. if you change your address), please inform us as soon as possible in writing. Please note that if your Fixed Term Bond is held in joint names, then any changes must be signed and authorised by both of you.
When do you pay interest?
Interest is calculated daily on your account up to, but not including, the maturity date. Interest is credited to your account annually and compounded but not paid out until the maturity date of your bond.
What are the tax implications?
Unfortunately we are unable to advise you on your personal tax position, and suggest you seek professional tax advice. We can however confirm that interest will only be paid to you on the maturity of your bond.
What charges would there be applied to my account?
Your Sensible Savings bond is free to open and we will not charge you for any services provided in the normal operation of the account.
However, there may be occasions when you ask us to carry out exceptional requests and transactions, for which we may levy a charge.
Provision of information on a closed account – £25 per account.
Data subject Access Request – £10 per request.
Copy of an annual interest statement – £10 per statement.
How do I complain if I am not satisfied?
At Sensible Savings, we pride ourselves on our efficiency when dealing with your queries. However, in the unlikely event that we have not answered your query to your satisfaction, please let us know as soon as possible so that we can rectify the matter without delay.
Please address your complaint to The Customer Services Manager, The Access Bank UK Limited, 4 Royal Court, Gadbrook Way, Gadbrook Park, Northwich, Cheshire, CW9 7UT in writing, or by telephone on 01606 815440.
Details of our complaints handling process are available on request from The Access Bank UK Limited, by telephone on 01606 815440, by fax on 01606 45681 or by email: firstname.lastname@example.org.
If however, you do not feel that we have answered your complaint satisfactorily, you do have the right to refer the matter to the Financial Ombudsman Service.
The Financial Ombudsman Service can be contacted by post at: Exchange Tower, London, E14 4SR or by telephone on 0800 023 4567 or 0300 123 9 123.
Alternatively you can visit the website at www.financial-ombudsman.org.uk