Summarised below are the key changes being made:
Issuing of AGM packs
If we have your email address, and you haven’t told us otherwise, we will send your AGM pack to you electronically.
Interest
We have changed the way interest is calculated on withdrawals. Previously, interest was calculated up to and including the day of withdrawal. It will now be calculated up to and including the day before the withdrawal is made.
Changes to interest rates
If we have your email address, we will email you at least 14 days before any material interest rate reductions happen. Otherwise, we will tell you by post.
Reasons why we can refuse or delay a payment
We may refuse or limit a withdrawal, or delay processing your instruction, if we reasonably suspect you might be being tricked or scammed into making the payment.
Reasons we can close your account
We can close your account at any time without giving a reason if you did not meet the qualifying criteria to open the account. Qualifying criteria can be found in the Product Specific Terms and Conditions.
Changing the Terms and Conditions
We’ve clarified that, where your account is a notice account and we change the conditions which deal with the way payments can be made, you will still need to give notice to close or transfer your account.