| Albion Cheque Account Terms and Conditions |
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The following conditions apply to your Albion Cheque Account.
In these conditions, unless the context requires otherwise:
Definitions
"Account" means your Albion Cheque Account.
"British Isles" means England, Scotland, Wales
and Northern Ireland.
"Card" means any Card that we give or send to
you to use with your Account.
"Investment Interest Rates and Key Product Features
Leaflet" means the Society’s published list of
interest rates, which are currently in force.
"Albion Cheque Account Tariff of Charges Leaflet" means
the Society’s published list of charges including Debit
Interest, which are currently in force and which will be
provided to you, or the contents advised to you, at least
once a year.
"Society" means Leeds Building Society.
"Working Day" means any day which is not a Saturday,
Sunday or English Bank Holiday.
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| 1. |
Account Opening |
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| 1.1 |
The Society is subject to the Money Laundering Regulations and Financial
Services Authority rules which require that we verify both the identity
and address of customers. When accounts are opened each customer must
provide one document from each of the lists below. The documents produced
must be originals or certified copies of the originals.
Confirmation of Identity
• Current signed UK or EU Passport;
• Current Driving Licence, either photocard or old version – old
style provisional licences are not acceptable;
• A Building Industry Sub Contractor Certificate issued by the Inland
Revenue;
• Benefit book or original notification letter from Benefits Agency
confirming the right to benefit;
• Firearms certificate;
• Inland Revenue Tax Notification
Confirmation of Address
• A utility bill up to three months old (a mobile telephone bill
is not acceptable);
• Bank, building society or credit card statement containing current
address;
• Most recent mortgage statement from a recognised lender;
• Local authority council tax bill (valid for current year);
• Current UK photocard Driving Licence (if not used for evidence
of identity);
• Local authority rent card or tenancy agreement;
• Benefit book or original notification letter from Benefits Agency
confirming the right to benefit (if not used for evidence of identity)
The Society may accept other forms of appropriate identification or
confirmation of address at its discretion. |
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| 1.2 |
If your account is opened by post we need only confirmation
of address. Please send at least one original document, which
will be returned to you by post. For postal applications
the Society will confirm your identity usually by searching
the electoral roll and independently verifying your telephone
number (although other appropriate methods may also be used). |
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| 1.3 |
The Society takes appropriate steps to satisfy itself regarding the
identity of its investors and these may include making further enquiries
or seeking additional references. |
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| 1.4 |
If you already have an account with the Society, you do not need to
provide confirmation of identity, provided your account has been active
within the previous 12 months (however the Society would still require
you to provide confirmation of address). |
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| 1.5 |
From the date of account opening you have 14 days to notify
us (in writing) if you are not happy with your choice of
account. Within that period we will, if instructed by you,
refund your investment with interest from account opening
or, subject to eligibility, transfer the investment to another
account of your choice without any loss of interest for early
withdrawal. |
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| 2. |
Operating your Account |
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| 2.1 |
Your Account must always be kept in credit. |
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| 2.2 |
Your Account is held entirely on your own behalf and the
Society need not accept notice of any rights to, or interest
in the money in your Account. An Account will not be opened
for anyone aged 17 or under. |
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| 2.3 |
If there is reasonable suspicion that your Account may be being used
for illegal purposes or if we become aware that there is a dispute over
ownership of the Account (including a dispute between joint investors),
then we may freeze the Account until the position is resolved. If an
Account is frozen it will not be possible to make deposits or withdrawals
in respect of it. |
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| 3 |
Payments Into Your Account and Withdrawals |
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| 3.1 |
The minimum balance of £2,500 must be maintained
at all times. In the event that the balance falls below £2,500
please see the Investment Interest Rates and Key Product
Features leaflet for the rate which will apply until the
Account returns to the minimum balance. The maximum Account
investment and operating balance is £250,000. |
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| 3.2 |
Payments into your Account must be made by either cheque, transfer
from another Leeds Building Society Account or by way of Bank Transfer.
When you pay in money by cheque:
• the cheque should be made payable to the investor(s) or to Leeds
Building Society for the Account of the investor(s)
• the cheque may be returned unpaid due to lack of funds, the cheque
being stopped, irregularities in the way the cheque has been completed
or other reasons as determined by the bank on which the cheque has been
drawn. In such circumstances the Society will debit the value of the
cheque from your Account and may make a charge for this
• the cheque will normally be deemed as being out of date if it
is paid in more than six months after its date
• Cheques paid into your Account cannot be drawn upon for 7 working
days (inclusive). |
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| 3.3 |
Payments into your Account cannot be accepted if made by way of:
• cash;
• foreign currency;
• cheques from foreign banks;
• cheques in foreign currency;
• foreign currency travellers cheques. |
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| 3.4 |
You can only make withdrawals from your account in the following ways:
• Telegraphic Transfer;
• Direct Debit;
• Cheque;
• Standing Order;
• Other authorised automated payments;
No cash withdrawals are permitted. |
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| 3.5 |
If you wish to make a withdrawal from your Account at one of our branch
offices, you may be asked to produce confirmation of identity (in the
form listed at clause 1.1) before the transaction is carried out. |
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| 3.6 |
We will debit your Account with the amount of:
• cheques you write;
• Direct Debits, standing orders and other automated
payments you have instructed us to pay;
• the amount of cheques paid into your Account which
are subsequently returned unpaid;
• charges which are incurred in the operation of your
Account;
• any loss or expense which the Society suffers in connection
with your Account;
• any other transaction which you have authorised. |
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| 3.7 |
We reserve the right to refuse to pay Direct Debits, standing orders
and other automated payments because you have an insufficient cleared
balance in your Account even though money to cover the payment is paid
into your Account later on the same day. This is because we check the
balance of your Account at the start of the day. |
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| 3.8 |
The maximum cheque withdrawal limit at a branch is £250,000. |
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| 3.9 |
If you wish to cancel a Direct Debit or standing order you must tell
us in writing not less than 5 working days before the payment is due. |
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| 3.10 |
We can keep any money in any Account which you have with us and
set it off against any money you owe us under with a mortgage,
overdraft or otherwise provided that they money is due. Interest will
not be payable on any money used in this way. |
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| 4 |
Cheques Drawn On The Account |
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| 4.1 |
We reserve the right to refuse to pay a cheque where the cleared balance
in your Account is insufficient and payment would cause the Account to
become overdrawn. |
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| 4.2 |
We reserve the right to refuse to pay a cheque which you have written
because you have an insufficient cleared balance in your Account even
though money to cover the cheque is paid into your Account later on the
same day. This is because we check the balance of your Account at the
start of the day. |
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| 4.3 |
We reserve the right to refuse to pay a cheque if there are any unsigned
alterations to the cheque or the cheque is not fully completed or the
signature on the cheque does not match that supplied to us on your application
form. |
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| 4.4 |
We can transfer cleared funds from other accounts held in your name
to pay a cheque where there are insufficient funds available in the Account. |
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| 4.5 |
We will only pay cheques written on the personalised cheques we have
provided for your Account |
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| 4.6 |
You must not alter any of the words pre-printed on your cheques, including
the Account Payee crossing. |
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| 4.7 |
You must write all cheques clearly to reduce the risk of forgery. |
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| 4.8 |
You must not write a future date on your cheques. If you do, we can
still pay the cheque before the date shown and we will not pay you for
any loss which you suffer because of early payment. |
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| 4.9 |
We may debit your Account with a cheque which you have written even
if the date on that cheque is more than 6 months before the date we receive
it for payment. |
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| 4.10 |
You can stop a cheque if you tell us to do so before we receive it
for payment. A charge will be made for this (See Albion Cheque Account
Tariff of Charges Leaflet). You cannot place a stop on a cheque that
has been guaranteed. |
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| 4.11 |
You must not let anyone else use your cheque book. |
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| 5 |
Interest |
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| 5.1 |
Interest will normally be paid after deduction of income tax at the
relevant rate. However, if you do not have to pay income tax, interest
may be paid gross (ie without deduction of tax) if you provide us with
the appropriate completed Inland Revenue form. These forms are available
from your local branch or our Customer Helpline. Completed forms may
be handed in at your local branch or sent to our Investment Services
Department at Head Office. |
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| 5.2 |
If the Account is held in joint names and one investor is entitled
to gross interest then interest will be credited to the investors in
equal proportion provided that a completed Inland Revenue form is received. |
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| 5.3 |
When you pay money in by cheque, interest is calculated from the third
working day after the payment is received. |
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| 5.4 |
When you pay money in by bank transfer or from another Account with
the Society (cleared funds) interest is paid from the day of receipt. |
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| 5.5 |
Interest payments are ordinarily calculated several days in advance
of the actual payment. If transactions occur after the preparation of
the interest calculation they will not be taken into Account until the
next interest payment date. It may be necessary to adjust your capital
balance to compensate for any overpayment of interest if withdrawals
have taken place in this period. |
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| 5.6 |
We will pay interest on your Account at variable rates set by us from
time to time. Details of rates applying at account opening are detailed
in the Investment Interest Rates and Key Product Features leaflet. We
also have a 24 hour Investment Interest Rateline, telephone (0800) 915
1616. Calls are charged at local rates. |
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| 5.7 |
Interest will be credited to your Account annually on 1 June or the
first Working Day thereafter. |
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| 5.8 |
You will continue to earn interest on amounts invested up to and including
the day before withdrawal. |
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| 6 |
Joint Accounts |
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| 6.1 |
If the Account is held in joint names:
• All information regarding the account(s) will be sent to the first
named account(s) holder’s registered address;
• Liability to the Society is joint and several, meaning that each
named investor is responsible for all the obligations of the Account;
• If one investor dies the Account will vest in the name of the
survivor and will be automatically transferred to the other on production
of the death certificate or a certified copy;
• It is the responsibility of joint Account holders who are partners
and become subject to divorce or separation to give notice to the Society
if they wish to change the operation of their Account (ie if a signature
is to be removed); |
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| 6.2 |
If you do not want us to accept either signature you must
return all unused cheques to us and we will close your Account.
You may then apply for new Accounts in your sole names. |
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| 6.3 |
If the Account is in joint names, a Card will be issued to each customer.
You must not use each others’ Card and all customers irrevocably
agree that debits to their Account may be made on the sole authority
of any one joint holder who has been issued with a Card. |
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| 6.4 |
Unless you are the person whose name appears first in our records of
your Account, by signing your Account application form you will be treated
as having given notice under Section 185(2) of the Consumer Credit Act
1974 that, until further notice, we do not need to send separate statements
to each of you. |
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| 7 |
Membership |
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| 7.1 |
Your account is a share account which means that you will become a
shareholding member of the Society through holding this account. |
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| 7.2 |
If your account is not a share account it will be a deposit
account which does not give membership rights. |
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| 7.3 |
If you are a shareholding member you are bound by the Rules of the
Society. Copies of the Rules are available from your local branch or
our Customer Helpline. |
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| 7.4 |
In accordance with the Society’s rules only the first
named of joint investors is entitled to exercise the rights
of membership (such as voting and participation in any distribution
of the Society’s assets) Joint investors may select
which of them is to be the representative (i.e. first named)
account holder. |
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| 8 |
Use Of The Card |
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| 8.1 |
We guarantee in any single transaction, the payment of only one cheque
taken from only one of the Society’s own cheque books for up to £250
provided:
• the cheque bears the same name and sort code number, where
printed, as the Card;
• the cheque is dated with the actual date of issue. If you post
date a cheque the Society will be liable
• to meet it on the date of presentation rather than the date set
out on the cheque itself:
• if it is signed, before expiry of the Card, in the British Isles
in the presence of the payee by the person whose signature appears on
the Card;
• the Card number is written on the reverse of the cheque by the
payee;
• the Card has not been altered or defaced; |
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| 8.2 |
The Card remains the property of the Society at all times. If requested
you must return the Card to the Society immediately. You must stop using
the Card immediately, but the Society may deduct from your Account the
amount of any guaranteed cheque issued following a request for the Card’s
return. You may return the Card at any time and must do so if your Account
is closed. |
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| 8.3 |
Cheques guaranteed with your Card will be debited from your Account
and cannot be stopped. Suspension or cancellation of the Card does not
affect the right of the Society to debit your Account with the amount
of cheque(s) that have been guaranteed – whether payment has been
countermanded or not, or whether the cheque is technically irregular. |
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| 8.4 |
If anyone refuses to accept your Card or retains the Card
on its use, the Society will not be liable for any loss which
results from this unless the refusal or retention results
directly from the Society’s fault. |
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| 8.5 |
The Card does not guarantee cheque transactions outside the British
Isles. |
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| 9 |
Care Of Your Card |
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| 9.1 |
You must sign your Card in permanent ink as soon as you receive it
and take reasonable care to prevent your Card being lost or stolen, or
used by a third party. In particular:
• never let anyone else use your Card;
• keep your Card separate from your cheque book. |
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| 10 |
Misuse Of Your Cheque Book and/or Card |
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| 10.1 |
The Card and/or cheque book don’t entitle you to overdraw on
your Account. You may not use your Card and/or cheque book if the value
of the cheque to be guaranteed will exceed your available cleared balance. |
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| 10.2 |
We also reserve the right to charge a management fee (detailed in our
Albion Cheque Account Tariff of Charges) for each occasion
a guaranteed cheque is presented in excess of the available cleared balance. |
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| 10.3 |
The Society may stop the Card and/or cheque book at any
time without informing you if the Society believes that the
Card and/or cheque book are being misused including use for
any illegal purpose. |
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| 11 |
Loss or Theft Of Your Cheque Book and/or Card |
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| 11.1 |
If you find that your cheque book and/or Card has been
lost or stolen you must notify us immediately either at any
of our branches or by telephoning 0113 225 7777 (24 hour
answer service). |
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| 11.2 |
We will accept telephone advice of lost cheque books and/or Cards but
you must write to the Society to confirm your instructions. We may accept
written notification of the loss or theft of your Card from a Card registration
bureau acting on your behalf. |
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| 11.3 |
We will not order a replacement Card and/or cheque book until we have
received your written confirmation that the Card and/or cheque book have
been lost or stolen. |
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| 11.4 |
Providing you have acted in good faith and advised the Society immediately
of the loss of the cheque book and/or Card, or failure to receive a new
cheque book and/or Card prior to the expiry of the old Card, your liability
for financial loss in respect of transactions and interest is limited
to £50. You may have to pay more than £50 if you have acted
fraudulently or without reasonable care regarding use of the cheque book
and/or Card. The financial liability of the Society will be limited to
the amounts deducted from your Account which should not have been. |
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| 11.5 |
We may give the police or any other prosecuting authority any information
we consider relevant. |
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| 11.6 |
In case of a disputed Card transaction, the burden of proving
fraud or that you acted without reasonable care, or that
the Card has been received by you, will lie with us. In such
cases, we shall expect you to co-operate with us in our investigations. |
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| 11.7 |
Do not use the cheque book and/or Card once it has been reported lost
or stolen. You should cut the Card in half if it is subsequently found.
If you do use your Card then the Society may withdraw the relevant funds
from your Account notwithstanding that you have agreed not to use it. |
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| 12 |
Statements |
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| 12.1 |
We will issue you with a statement quarterly. Monthly statements are
available on request. |
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| 12.2 |
You must check your statement and tell us as soon as possible of any
disputed entry. |
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| 13 |
Charges |
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| 13.1 |
The Society will not make charges for normal use of cheques, Direct
Debits and standing orders debited to the Account. However the Society
reserves the right to apply charges for cheques, Direct Debits or standing
orders where there is a high number of these types of transaction. Where
such charges are to be made you will be given written notice of the charges
to be applied. |
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| 13.2 |
We currently make charges for the following items:
• unpaid cheques,
• unpaid Direct Debits;
• unpaid standing orders;
• stopped cheques;
• copy documents (including duplicate statements, cheques
etc.);
• telegraphic transfers (C.H.A.P.s payments);
• special clearance of cheques paid into your Account;
• cheques credited to your Account which are unpaid;
• transfer of funds to cover cheques, Direct Debits
and standing orders where there are insufficient funds in
the Account;
• unauthorised overdrafts resulting from the misuse
of the Card;
• a management charge for communications to you regarding
the operation of your Account outside the agreed Account
conditions.
These charges will be applied at the time of the transaction
or service. |
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| 13.3 |
If we increase the charges, we will tell you by individual notice at
least 30 days before the increase takes effect. If we reduce the amount
of a charge or abolish a charge we may instigate the change with immediate
effect and without notice. |
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| 14 |
Closing Your Account |
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| 14.1 |
If you wish to close your Account you must first:
• give us written notice;
• return all unused cheques and your Card(s) (cheque Account only)
• pay all amounts you owe us on your Account, including charges. |
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| 14.2 |
We can close your Account at any time by giving you at
least 30 days individual notice. |
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| 14.3 |
We can close your Account immediately if we receive notice of your
death, bankruptcy or mental incapacity. |
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| 14.4 |
If you have breached these conditions or there is a likelihood
of fraud or misuse we can close your Account immediately
unless under the Consumer Credit Act 1974 we are required
to give notice first. |
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| 14.5 |
If we close your Account you must return any unused cheques, all Card(s)
and pay all amounts you owe us on your Account, including charges. |
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| 14.6 |
You will remain liable for all guaranteed cheques drawn
on your Account which are presented for payment after the
closure of the Account. |
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| 15 |
Changing These Conditions |
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| 15.1 |
Without notice we may limit any time the amount which may
be withdrawn in respect of the Account if we reasonably consider
it necessary in order to protect the interests of the membership
of the Society as a whole. |
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| 15.2 |
We can change the rate of interest to be paid at any time and will
notify you of any change either by:-
• Notice to you individually within 30 days of the change taking
effect; or
• By a general notice displayed in our branches, and Head Office
and on our website, and by advertisement in two national newspapers (selected
at our discretion from The Times, The Telegraph and the Daily Mail) within
three working days of the change taking effect. |
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| 15.3 |
For postal Accounts details of changes will be provided
to you by individual notice within 30 days of the change
taking effect. Any notice given under Condition 15.2 or 15.3
will clearly state the previous and new interest rate. |
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| 15.4 |
We can change these Terms and Conditions, other than rates of interest,
at any time. Changes may include the removal or amendment of terms and
conditions or the inclusion of new ones and may be made if any of the
following apply:
• there are new or amended laws which require or permit change;
• there is a court decision which requires or permits change;
• you agree;
• we reasonably believe that you would benefit from new facilities
or services which have become available;
• we reasonably believe that business needs justify a change;
• to correct errors;
• because of changes in technology or banking practice;
We can also change these Terms and Conditions for any other valid
reason where we reasonably believe that the change is appropriate. |
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| 15.5 |
Any variation of Conditions (other than an interest rate
change) will be effective only after notice is given to you
individually or by general notice as provided in 15.2. We
will always give you at least 30 days notice before any change. |
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| 15.6 |
We will give you individual notice of any change (other than an interest
rate change) which we consider is to your disadvantage. You may close
your account within 60 days of the date of such a notice without giving
notice or paying any penalty which would otherwise be due. If there is
a major change or a number of minor changes we will send you a revised
copy of the Conditions. |
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| 16 |
Confidentiality |
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| 16.1 |
We will only give details of your account or personal details to anyone
else if:
• you have specifically requested or consented to the disclosure
• the law requires us to do so
• our interests make disclosure necessary, or
• we have a public duty to disclose.
Your application form may include a declaration requesting your consent
to disclosure for particular purposes. |
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| 16.2 |
In particular we may disclose details if:
• you owe us money on your Account;
• we have asked you in writing to pay this money;
• you do not dispute that you owe us money; and
• you have not made satisfactory arrangements for repayment. |
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| 16.3 |
We may disclose information to credit reference agencies. We will give
you 28 days notice before we do so. |
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| 17 |
How to contact us |
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| 17.1 |
Branches are usually open from 9am to 5pm Monday to Friday and from
9am to 1pm on Saturdays (Head Office branch is open until 4pm most Saturdays).
Opening may be delayed by 30 minutes to allow for staff training. |
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| 17.2 |
The telephone number for your branch will be listed in
local directories. A message receiving service is available
outside of opening hours. Alternatively you may contact our
Customer Helpline on (0113) 225 7777 from 8am to 8pm seven
days a week. |
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| 17.3 |
If you have a postal account please telephone Leeds Building Society Direct
for your requirements during branch opening hours. The number is (0113)
225 7755. At other times ring the Customer Helpline. Branches are not
able to effect transactions on postal accounts. |
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| 17.4 |
If you would like information about the interest rates
currently applying to the Society’s investment accounts,
please telephone 0800 915 2525 for details of postal accounts
or 0800 915 1616 for details of all other accounts. Calls
are free. |
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| 17.5 |
Please quote your account number whenever you contact us. |
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| 18 |
Customer Service and Protection |
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| 18.1 |
We aim to provide a high quality service to customers at all times.
Unfortunately mistakes do occur, but when this happens we shall do our
best to resolve problems or misunderstandings which may arise. Should
you need to refer a matter of complaint to us details of the procedure
are available here. |
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| 18.2 |
The Society is a member of the Financial Services Compensation
Scheme, the Financial Ombudsman Service and subscribes to
and undertakes to comply with the Banking Code. Details of
these are available here. The society is authorised and regulated
by the Financial Services Authority. |
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| 19 |
General |
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| 19.1 |
Where necessary, any word in these Terms and Conditions
which is in the singular shall also be read as in the plural
and any word which is in the plural shall also be read as
if it was in the singular. These Terms and Conditions constitute
a legal agreement between the Society and you and govern
the Account. |
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| 19.2 |
We will not be liable for any loss you may suffer of any kind whatsoever
if we are unable to operate your Account or fulfil our obligations to
you because of any strike or industrial action or failure of power supplies,
data transmission systems or equipment or any other cause or event whatsoever
beyond our reasonable control or the reasonable control of our agents
or sub-contractors. |
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| 19.3 |
Any failure by the Society to enforce any of its rights
against you on one occasion, whether in whole or in part,
should not be regarded as a waiver of the Society’s
rights to enforce these obligations on any other occasion
whether in whole or in part. |
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| 19.4 |
English law and these Terms and Conditions (which you accept by using
the Card) govern the use of the Card. |
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| Premier
Current Account Terms and Conditions |
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The following conditions apply to your Premier Current
Account. In these conditions, unless the context requires
otherwise:
Definitions
"Account" means your Premier Current Account.
"British Isles" means England, Scotland, Wales
and Northern Ireland.
"Card" means any Card that we give or send
to you to use with your Account.
"Investment Interest Rates and Key Product Features
Leaflet" means the Society’s published list
of interest rates, which are currently in force.
"Premier Current Account Tariff of Charges Leaflet" means
the Society’s published list of charges including
Debit Interest, which are currently in force and which
will be provided to you, or the contents advised to you,
at least once a year.
"Society" means Leeds Building
Society.
"Working Day" means any day which is not a
Saturday, Sunday or English Bank Holiday. |
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| 1. |
Account Opening |
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| 1.1 |
The Society is subject to the Money Laundering Regulations
and Financial Services Authority rules which require that
we verify both the identity and address of customers. When
accounts are opened each customer must provide one document
from each of the lists below. The documents produced must
be originals or certified copies of the originals.
Confirmation of Identity
• Current signed UK or EU Passport;
• Current Driving Licence, either photocard or old version – old style
provisional licences are not acceptable;
• A Building Industry Sub Contractor Certificate issued by the Inland Revenue;
• Benefit book or original notification letter from Benefits Agency confirming
the right to benefit;
• Firearms certificate;
• Inland Revenue Tax Notification
Confirmation of Address
• A utility bill up to three months old (a mobile
telephone bill is not acceptable);
• Bank, building society or credit card statement containing current address;
• Most recent mortgage statement from a recognised lender;
• Local authority council tax bill (valid for current year);
• Current UK photocard Driving Licence (if not used for evidence of identity);
• Local authority rent card or tenancy agreement;
• Benefit book or original notification letter from Benefits Agency confirming
the right to benefit (if not used for evidence of identity)
The Society may accept other forms of appropriate identification
or confirmation of address at its discretion. |
| |
|
| 1.2 |
If your account is opened by post we need only confirmation
of address. Please send at least one original document, which
will be returned to you by post. For postal applications
the Society will confirm your identity usually by searching
the electoral roll and independently verifying your telephone
number (although other appropriate methods may also be used). |
| |
|
| 1.3 |
The Society takes appropriate steps to satisfy itself regarding
the identity of its investors and these may include making
further enquiries or seeking additional references. |
| |
|
| 1.4 |
If you already have an account with the Society, you do
not need to provide confirmation of identity, provided your
account has been active within the previous 12 months (however
the Society would still require you to provide confirmation
of address). |
| |
|
| 1.5 |
From the date of account opening you have 14 days to notify
us (in writing) if you are not happy with your choice of
account. Within that period we will, if instructed by you,
refund your investment with interest from account opening
or, subject to eligibility, transfer the investment to another
account of your choice without any loss of interest for early
withdrawal. |
| |
|
| 2. |
Operating your Account |
| |
|
| 2.1 |
Your Account must always be kept in credit. |
| |
|
| 2.2 |
Your Account is held entirely on your own behalf and the
Society need not accept notice of any rights to, or interest
in the money in your Account. An Account will not be opened
for anyone aged 17 or under. |
| |
|
| 2.3 |
If there is reasonable suspicion that your Account may
be being used for illegal purposes or if we become aware
that there is a dispute over ownership of the Account (including
a dispute between joint investors), then we may freeze the
Account until the position is resolved. If an Account is
frozen it will not be possible to make deposits or withdrawals
in respect of it. |
| |
|
| 3 |
Payments Into Your Account and Withdrawals |
| |
|
| 3.1 |
The minimum balance of £2,500 must be maintained
at all times. In the event that the balance falls below £2,500
please see the Investment Interest Rates and Key Product
Features leaflet for the rate which will apply until the
Account returns to the minimum balance. The maximum Account
investment and operating balance is £250,000. |
| |
|
| 3.2 |
Payments into your Account must be made by either cheque,
transfer from another Leeds Building Society Account or by way
of Bank Transfer. When you pay in money by cheque:
• the cheque should be made payable to the investor(s) or to Leeds Building Society for the Account of the investor(s)
• the cheque may be returned unpaid due to lack of funds, the cheque being
stopped, irregularities in the way the cheque has been completed or other reasons
as determined by the bank on which the cheque has been drawn. In such circumstances
the Society will debit the value of the cheque from your Account and may make
a charge for this
• the cheque will normally be deemed as being out of date if it is paid
in more than six months after its date
• Cheques paid into your Account cannot be drawn upon for 7 working days
(inclusive). |
| |
|
| 3.3 |
Payments into your Account cannot be accepted if made
by way of:
• cash;
• foreign currency;
• cheques from foreign banks;
• cheques in foreign currency;
• foreign currency travellers cheques. |
| |
|
| 3.4 |
You can only make withdrawals from your account in the
following ways:
• Telegraphic Transfer;
• Direct Debit;
• Cheque;
• Standing Order;
• Other authorised automated payments;
No cash withdrawals are permitted. |
| |
|
| 3.5 |
If you wish to make a withdrawal from your Account at one
of our branch offices, you may be asked to produce confirmation
of identity (in the form listed at clause 1.1) before the
transaction is carried out. |
| |
|
| 3.6 |
We will debit your Account with the amount of:
• cheques you write;
• Direct Debits, standing orders and other automated payments you have instructed
us to pay;
• the amount of cheques paid into your Account which are subsequently returned
unpaid;
• charges which are incurred in the operation of your Account;
• any loss or expense which the Society suffers in connection with your
Account;
• any other transaction which you have authorised. |
| |
|
| 3.7 |
We reserve the right to refuse to pay Direct Debits, standing
orders and other automated payments because you have an insufficient
cleared balance in your Account even though money to cover
the payment is paid into your Account later on the same day.
This is because we check the balance of your Account at the
start of the day. |
| |
|
| 3.8 |
The maximum cheque withdrawal limit at a branch is £250,000. |
| |
|
| 3.9 |
If you wish to cancel a Direct Debit or standing order
you must tell us in writing not less than 5 working days
before the payment is due. |
| |
|
| 3.10 |
We can keep any money in any Account which you have with
us and set it off against any money you owe us under with
a mortgage, overdraft or otherwise provided that they money
is due. Interest will not be payable on any money used in
this way. |
| |
|
| 4 |
Cheques Drawn On The Account |
| |
|
| 4.1 |
We reserve the right to refuse to pay a cheque where the
cleared balance in your Account is insufficient and payment
would cause the Account to become overdrawn. |
| |
|
| 4.2 |
We reserve the right to refuse to pay a cheque which you
have written because you have an insufficient cleared balance
in your Account even though money to cover the cheque is
paid into your Account later on the same day. This is because
we check the balance of your Account at the start of the
day. |
| |
|
| 4.3 |
We reserve the right to refuse to pay a cheque if there
are any unsigned alterations to the cheque or the cheque
is not fully completed or the signature on the cheque does
not match that supplied to us on your application form. |
| |
|
| 4.4 |
We can transfer cleared funds from other accounts held
in your name to pay a cheque where there are insufficient
funds available in the Account. |
| |
|
| 4.5 |
We will only pay cheques written on the personalised cheques
we have provided for your Account |
| |
|
| 4.6 |
You must not alter any of the words pre-printed on your
cheques, including the Account Payee crossing. |
| |
|
| 4.7 |
You must write all cheques clearly to reduce the risk of
forgery. |
| |
|
| 4.8 |
You must not write a future date on your cheques. If you
do, we can still pay the cheque before the date shown and
we will not pay you for any loss which you suffer because
of early payment. |
| |
|
| 4.9 |
We may debit your Account with a cheque which you have
written even if the date on that cheque is more than 6 months
before the date we receive it for payment. |
| |
|
| 4.10 |
You can stop a cheque if you tell us to do so before we
receive it for payment. A charge will be made for this (See
Premier Current Account Tariff of Charges Leaflet). You cannot
place a stop on a cheque that has been guaranteed. |
| |
|
| 4.11 |
You must not let anyone else use your cheque book. |
| |
|
| 5 |
Interest |
| |
|
| 5.1 |
Interest will normally be paid after deduction of income
tax at the relevant rate. However, if you do not have to
pay income tax, interest may be paid gross (ie without deduction
of tax) if you provide us with the appropriate completed
Inland Revenue form. These forms are available from your
local branch or our Customer Helpline. Completed forms may
be handed in at your local branch or sent to our Investment
Services Department at Head Office. |
| |
|
| 5.2 |
If the Account is held in joint names and one investor
is entitled to gross interest then interest will be credited
to the investors in equal proportion provided that a completed
Inland Revenue form is received. |
| |
|
| 5.3 |
When you pay money in by cheque, interest is calculated
from the third working day after the payment is received. |
| |
|
| 5.4 |
When you pay money in by bank transfer or from another
Account with the Society (cleared funds) interest is paid
from the day of receipt. |
| |
|
| 5.5 |
Interest payments are ordinarily calculated several days
in advance of the actual payment. If transactions occur after
the preparation of the interest calculation they will not
be taken into Account until the next interest payment date.
It may be necessary to adjust your capital balance to compensate
for any overpayment of interest if withdrawals have taken
place in this period. |
| |
|
| 5.6 |
We will pay interest on your Account at variable rates
set by us from time to time. Details of rates applying at
account opening are detailed in the Investment Interest Rates
and Key Product Features leaflet. We also have a 24 hour
Investment Interest Rateline, telephone (0800) 915 1616.
Calls are charged at local rates. |
| |
|
| 5.7 |
Interest will be credited to your Account annually on 1
June or the first Working Day thereafter. |
| |
|
| 5.8 |
You will continue to earn interest on amounts invested
up to and including the day before withdrawal. |
| |
|
| 6 |
Joint Accounts |
| |
|
| 6.1 |
If the Account is held in joint names:
• All information regarding the account(s) will be sent to the first named
account(s) holder’s registered address;
• Liability to the Society is joint and several, meaning that each named
investor is responsible for all the obligations of the Account;
• If one investor dies the Account will vest in the name of the survivor
and will be automatically transferred to the other on production of the death
certificate or a certified copy;
• It is the responsibility of joint Account holders who are partners and
become subject to divorce or separation to give notice to the Society if they
wish to change the operation of their Account (ie if a signature is to be removed); |
| |
|
| 6.2 |
If you do not want us to accept either signature you must
return all unused cheques to us and we will close your Account.
You may then apply for new Accounts in your sole names. |
| |
|
| 6.3 |
If the Account is in joint names, a Card will be issued
to each customer. You must not use each others’ Card
and all customers irrevocably agree that debits to their
Account may be made on the sole authority of any one joint
holder who has been issued with a Card. |
| |
|
| 6.4 |
Unless you are the person whose name appears first in our
records of your Account, by signing your Account application
form you will be treated as having given notice under Section
185(2) of the Consumer Credit Act 1974 that, until further
notice, we do not need to send separate statements to each
of you. |
| |
|
| 7 |
Membership |
| |
|
| 7.1 |
Your account is a share account which means that you will
become a shareholding member of the Society through holding
this account. |
| |
|
| 7.2 |
If your account is not a share account it will be a deposit
account which does not give membership rights. |
| |
|
| 7.3 |
If you are a shareholding member you are bound by the Rules
of the Society. Copies of the Rules are available from your
local branch or our Customer Helpline. |
| |
|
| 7.4 |
In accordance with the Society’s rules only the first
named of joint investors is entitled to exercise the rights
of membership (such as voting and participation in any distribution
of the Society’s assets) Joint investors may select
which of them is to be the representative (i.e. first named)
account holder. |
| |
|
| 8 |
Use Of The Card |
| |
|
| 8.1 |
We guarantee in any single transaction, the payment of
only one cheque taken from only one of the Society’s
own cheque books for up to £250 provided:
• the cheque bears the same name and sort code
number, where printed, as the Card;
• the cheque is dated with the actual date of issue. If you post date a
cheque the Society will be liable
• to meet it on the date of presentation rather than the date set out on
the cheque itself:
• if it is signed, before expiry of the Card, in the British Isles in the
presence of the payee by the person whose signature appears on the Card;
• the Card number is written on the reverse of the cheque by the payee;
• the Card has not been altered or defaced; |
| |
|
| 8.2 |
The Card remains the property of the Society at all times.
If requested you must return the Card to the Society immediately.
You must stop using the Card immediately, but the Society
may deduct from your Account the amount of any guaranteed
cheque issued following a request for the Card’s return.
You may return the Card at any time and must do so if your
Account is closed. |
| |
|
| 8.3 |
Cheques guaranteed with your Card will be debited from
your Account and cannot be stopped. Suspension or cancellation
of the Card does not affect the right of the Society to debit
your Account with the amount of cheque(s) that have been
guaranteed – whether payment has been countermanded
or not, or whether the cheque is technically irregular. |
| |
|
| 8.4 |
If anyone refuses to accept your Card or retains the Card
on its use, the Society will not be liable for any loss which
results from this unless the refusal or retention results
directly from the Society’s fault. |
| |
|
| 8.5 |
The Card does not guarantee cheque transactions outside
the British Isles. |
| |
|
| 9 |
Care Of Your Card |
| |
|
| 9.1 |
You must sign your Card in permanent ink as soon as you
receive it and take reasonable care to prevent your Card
being lost or stolen, or used by a third party. In particular:
• never let anyone else use your Card;
• keep your Card separate from your cheque book. |
| |
|
| 10 |
Misuse Of Your Cheque Book and/or Card |
| |
|
| 10.1 |
The Card and/or cheque book don’t entitle you to
overdraw on your Account. You may not use your Card and/or
cheque book if the value of the cheque to be guaranteed will
exceed your available cleared balance. |
| |
|
| 10.2 |
We also reserve the right to charge a management fee (detailed
in our Premier Current Account Tariff of Charges) for each
occasion a guaranteed cheque is presented in excess of the
available cleared balance. |
| |
|
| 10.3 |
The Society may stop the Card and/or cheque book at any
time without informing you if the Society believes that the
Card and/or cheque book are being misused including use for
any illegal purpose. |
| |
|
| 11 |
Loss or Theft Of Your Cheque Book and/or Card |
| |
|
| 11.1 |
If you find that your cheque book and/or Card has been
lost or stolen you must notify us immediately either at any
of our branches or by telephoning 0113 225 7777 (24 hour
answer service). |
| |
|
| 11.2 |
We will accept telephone advice of lost cheque books and/or
Cards but you must write to the Society to confirm your instructions.
We may accept written notification of the loss or theft of
your Card from a Card registration bureau acting on your
behalf. |
| |
|
| 11.3 |
We will not order a replacement Card and/or cheque book
until we have received your written confirmation that the
Card and/or cheque book have been lost or stolen. |
| |
|
| 11.4 |
Providing you have acted in good faith and advised the
Society immediately of the loss of the cheque book and/or
Card, or failure to receive a new cheque book and/or Card
prior to the expiry of the old Card, your liability for financial
loss in respect of transactions and interest is limited to £50.
You may have to pay more than £50 if you have acted
fraudulently or without reasonable care regarding use of
the cheque book and/or Card. The financial liability of the
Society will be limited to the amounts deducted from your
Account which should not have been. |
| |
|
| 11.5 |
We may give the police or any other prosecuting authority
any information we consider relevant. |
| |
|
| 11.6 |
In case of a disputed Card transaction, the burden of proving
fraud or that you acted without reasonable care, or that
the Card has been received by you, will lie with us. In such
cases, we shall expect you to co-operate with us in our investigations. |
| |
|
| 11.7 |
Do not use the cheque book and/or Card once it has been
reported lost or stolen. You should cut the Card in half
if it is subsequently found. If you do use your Card then
the Society may withdraw the relevant funds from your Account
notwithstanding that you have agreed not to use it. |
| |
|
| 12 |
Overdrawn Accounts |
| |
|
| 12.1 |
Unless you have requested an overdraft facility in connection
with your Account and we have granted one to you, you are
not entitled to overdraw your Account. |
| |
|
| 12.2 |
If your Account becomes overdrawn, we will make a charge.
Different rates of charge will apply depending on whether
the overdraft is authorised or unauthorised. The rates of
charge applicable to authorised and unauthorised overdrafts
are set out in the Premier Current Account Tariff & Charges
Leaflet. |
| |
|
| 13 |
Statements |
| |
|
| 13.1 |
We will issue you with a statement quarterly. Monthly statements
are available on request. |
| |
|
| 13.2 |
You must check your statement and tell us as soon as possible
of any disputed entry. |
| |
|
| 14 |
Charges |
| |
|
| 14.1 |
The Society will not make charges for normal use of cheques,
Direct Debits and standing orders debited to the Account.
However the Society reserves the right to apply charges for
cheques, Direct Debits or standing orders where there is
a high number of these types of transaction. Where such charges
are to be made you will be given written notice of the charges
to be applied. |
| |
|
| 14.2 |
We currently make charges for the following items:
• unpaid cheques,
• unpaid Direct Debits;
• unpaid standing orders;
• stopped cheques;
• copy documents (including duplicate statements, cheques etc.);
• telegraphic transfers (C.H.A.P.s payments);
• special clearance of cheques paid into your Account;
• cheques credited to your Account which are unpaid;
• transfer of funds to cover cheques, Direct Debits and standing orders
where there are insufficient funds in the Account;
• unauthorised overdrafts resulting from the misuse of the Card;
• a management charge for communications to you regarding the operation
of your Account outside the agreed Account conditions.
These charges will be applied at the time of the transaction or service. |
| |
|
| 14.3 |
If we increase the charges, we will tell you by individual
notice at least 30 days before the increase takes effect.
If we reduce the amount of a charge or abolish a charge we
may instigate the change with immediate effect and without
notice. |
| |
|
| 15 |
Closing Your Account |
| |
|
| 15.1 |
If you wish to close your Account you must first:
• give us written notice;
• return all unused cheques and your Card(s) (cheque Account only)
• pay all amounts you owe us on your Account, including charges. |
| |
|
| 15.2 |
We can close your Account at any time by giving you at
least 30 days individual notice. |
| |
|
| 15.3 |
We can close your Account immediately if we receive notice
of your death, bankruptcy or mental incapacity. |
| |
|
| 15.4 |
If you have breached these conditions or there is a likelihood
of fraud or misuse we can close your Account immediately
unless under the Consumer Credit Act 1974 we are required
to give notice first. |
| |
|
| 15.5 |
If we close your Account you must return any unused cheques,
all Card(s) and pay all amounts you owe us on your Account,
including charges. |
| |
|
| 15.6 |
You will remain liable for all guaranteed cheques drawn
on your Account which are presented for payment after the
closure of the Account. |
| |
|
| 16 |
Changing These Conditions |
| |
|
| 16.1 |
Without notice we may limit any time the amount which may
be withdrawn in respect of the Account if we reasonably consider
it necessary in order to protect the interests of the membership
of the Society as a whole. |
| |
|
| 16.2 |
We can change the rate of interest to be paid at any time
and will notify you of any change either by:-
• Notice to you individually within 30 days of the change taking effect;
or
• By a general notice displayed in our branches, and Head Office and on
our website, and by advertisement in two national newspapers (selected at our
discretion from The Times, The Telegraph and the Daily Mail) within three working
days of the change taking effect. |
| |
|
| 16.3 |
For postal Accounts details of changes will be provided
to you by individual notice within 30 days of the change
taking effect. Any notice given under Condition 15.2 or 15.3
will clearly state the previous and new interest rate. |
| |
|
| 16.4 |
We can change these Terms and Conditions, other than rates
of interest, at any time. Changes may include the removal
or amendment of terms and conditions or the inclusion of
new ones and may be made if any of the following apply:
• there are new or amended laws which require or permit change;
• there is a court decision which requires or permits change;
• you agree;
• we reasonably believe that you would benefit from new facilities or services
which have become available;
• we reasonably believe that business needs justify a change;
• to correct errors;
• because of changes in technology or banking practice;
We can also change these Terms and Conditions for any other valid reason
where we reasonably believe that the change is appropriate. |
| |
|
| 16.5 |
Any variation of Conditions (other than an interest rate
change) will be effective only after notice is given to you
individually or by general notice as provided in 15.2. We
will always give you at least 30 days notice before any change. |
| |
|
| 16.6 |
We will give you individual notice of any change (other
than an interest rate change) which we consider is to your
disadvantage. You may close your account within 60 days of
the date of such a notice without giving notice or paying
any penalty which would otherwise be due. If there is a major
change or a number of minor changes we will send you a revised
copy of the Conditions. |
| |
|
| 17 |
Confidentiality |
| |
|
| 17.1 |
We will only give details of your account or personal details
to anyone else if:
• you have specifically requested or consented to the disclosure
• the law requires us to do so
• our interests make disclosure necessary, or
• we have a public duty to disclose.
Your application form may include a declaration requesting your consent
to disclosure for particular purposes. |
| |
|
