SAVINGS CUSTOMER INFORMATION

Frequently Asked Questions TO HELP YOU OPERATE YOUR ACCOUNT WE’VE PUT TOGETHER THIS HELPFUL GUIDE BASED ON FREQUENTLY ASKED QUESTIONS.

This booklet isn’t designed to replace our General Investment Terms and Conditions and the individual product terms and conditions, so you’ll still need to read and keep those safe.

CONTENTS:

3 How can I contact you?

3 What does being a member mean?

4 How do I operate my account? (includes paying in and withdrawing funds)

5 How does my joint account work?

6 What about my interest?

6 How is interest worked out?

6 What happens if my account becomes dormant?

6 How can I protect my account?

6 What do I do if my passbook is lost or stolen?

7 What data do you hold about me, and can I see it?

7 What happens if you close my branch?

7 What happens if I move abroad?

7 How do I make a complaint?

7 Financial Services Compensation Scheme

2 How can I What does being contact you? a member mean? We’d love to keep in contact with you. We define members of Ipswich Building Please come and see us, call or email any Society as anyone who holds a mortgage of our branches and agencies. You can also or savings account with us. As a mutual visit our website at www.ibs.co.uk, or get in organisation, we are owned solely by our touch with our Ipswich team on 0330 123 members and do not have any shareholders. 0723, email [email protected] or write to We act in your interests and in those of us at PO Box 547, Ipswich IP3 9WZ. the wider community. Our membership programme, All In, makes the benefits and Special requirements opportunities of membership clear but to We’re keen to ensure everyone can access summarise, you: our services, which is why all of our branches • have a say in how the Society is run by are wheelchair accessible, the majority have voting and attending our Annual General audio induction loops and we also have Meeting (subject to meeting certain certain staff who can communicate in British criteria) Sign Language. We can also offer large print • have easy channels to feedback your on most items and in some circumstances opinions and suggestions to improve our can provide home visits. If there is anything business and service else we can do to provide our services to you please let us know. • can receive monthly email newsletters keeping you informed of our All In Keeping in touch programme and items which could be of interest Ipswich Building Society takes your privacy seriously and will only use your • have special access to exclusive member information to administer your account and events, products and offers that we may to provide the products and services that offer from time to time. you have requested from us. However, from Members are bound by our Rules and time to time we would like to contact you Memorandum, which set out the rights and with details of other products or services that obligations attached to membership. You we provide. We will ask you to complete a can get a copy of the Rules by asking at form setting out your marketing preferences any of our offices or from our website. There when you complete an application for is more information outlined in our General a mortgage or savings account. You Investment Terms and Conditions (section 2), have a right at any time to change those and the booklet ‘Your Rights as a Building preferences or ask us to stop contacting Society Member’ is available on request or you for marketing purposes. from our website. We are happy to consider opening accounts for unincorporated clubs, associations and bodies corporate, including registered charities, although these can only open deposit accounts which do not give membership rights.

3 total of 50 cheques per month are paid How do I operate into the account we reserve the right to my account? review or close your account. Your passbook, certificate or letter confirming • For standing order, Faster Payment your savings will detail your unique account or BACS*, please quote the following number. Please quote this account number in details: Society’s Sort Code: 23-44-48. any correspondence with us. Society’s Bank Account: 00004000. Reference: Your unique account number. You’ll need to make sure you read through and understand the individual product terms If you wish to cancel or modify a and conditions and our General Investment standing order you will need to inform Terms and Conditions. You have a right to your bank from which the payment obtain a copy of the terms and conditions originates. Faster Payment files will be that apply to your account at any time while run in the morning and afternoon on each it is open. See our website or get in touch working day (Monday – Friday excluding with us. Bank Holidays) - any payment sent to the Society after 3.30pm will be received on Making payments into your account the morning of the following working day. You will need to produce your passbook or • For CHAPS payments*, please quote quote your unique account number when the following details: making a payment into your account. Cash, Society’s Sort Code: 20-46-67. cheques and postal orders in sterling will be Society’s Bank Account: 10479667. accepted. You can also pay money into your Reference: Your unique account number. account by standing order, Faster Payment, BACS or CHAPS payment* although you will • For coinage payments please bag up all need to set this up direct with your bank. The change over £1.00 and note these must payment will appear in your account and be be full bags of no mixed denomination. accessible to you on the date it is received The maximum coinage per visit is £50 by the Society. without £1 coins and £100 with £1 coins. • Cheques need to be made payable to Further details are set out in Section 6 of the you, the account holder, or to Ipswich General Investment Terms and Conditions. Building Society in respect of (IRO) *A standing order is an instruction from ‘customer’s name’ eg: “Ipswich Building you to pay an amount regularly into your Society IRO Mr. R. Smith”. Do not Building Society account. BACS (Bank make cheques payable to just Ipswich Automated Clearing System) is a method of Building Society, as the Society will not sending money electronically between banks accept these to protect against fraud. and building societies. CHAPS (Clearing Cheques will be added to your balance House Automated Payments System) and immediately but will not be available Faster Payments allow payments to be for withdrawal until the start of the 8th made electronically going from the paying working day from and including the bank to the receiving bank/building society day on which you paid in the cheque. the same day. Saturday, Sunday and Bank Holidays are not counted as working days. Interest on a cheque will be calculated from the day we receive it. Our accounts are designed for personal savings. If more than 10 cheques per day or a

4 Withdrawing funds In certain circumstances a withdrawal may, To check your withdrawal conditions on occasion, be made by a third party (i.e. please refer to your individual account not the account holder) if written authority is terms and conditions. In all instances a given by the account holder. The maximum signed instruction will be required and your cash withdrawal is £200 per week and the passbook if you have been issued with one. third party will need to prove their identity to If your account does not have a passbook us. Identification for the account holder(s) is you will be asked to provide proof of identity also required. After the withdrawal we will and in some other circumstances we may retain the passbook and post it back to the also ask for proof of identity when making account holder direct. a withdrawal. Further details are set out in Section 9 of the General Investment Terms and Conditions. Withdrawals from cleared funds are currently limited to £1000 cash or up to £100,000 by cheque per member per day from our How does my joint branches. The minimum withdrawal by cheque is £25. Agencies of the Society have account work? individual limits, so please contact them There are two options for how the account directly to check before travelling to make is operated: a withdrawal. • both/all signatures - for any withdrawal or closure, both/all of you will be We also offer free electronic withdrawals up required to sign the forms to £25,000, as a next working day transfer to a previously nominated bank or building • either signature - for any withdrawal society account in your name. Over £25,000 or on closure only one signature or payments to a third party are paid by is required. CHAPS, with a £25 charge. Transfers of In both cases each account holder is £100,000 and above are free of charge. You individually and jointly responsible for will be notified of the charge applicable prior the conduct of the account. For any to completing the transaction. amendments to the account, each named Where a parent or guardian acts as an account holder will be required to sign the authorised signatory for a child’s account, form, whatever the withdrawal instructions. any withdrawals made from the account In the event of a separation, divorce or a must be for the benefit of the child. dispute we must be informed in writing For security purposes, electronic withdrawals at the earliest convenience and thereafter to accounts outside of the UK are both/all signatures will then be required discouraged. If requested, transfers will only for withdrawals and amendments to the be sent by CHAPS to an account in your account. As soon as we are aware of name, no third party payments will be made. a dispute between account holders all International CHAPS payments are subject withdrawals will be stopped. to a charge and you will be notified of this Further details are set out in Section 14 charge prior to completing this transaction. of the General Investment Terms and Where you have advised us that you have Conditions. A booklet ‘You and Your Joint changed your nominated bank details for Account’ is also available on request or from electronic withdrawals, we will require 3 our website. working days to process your request. During this time, free of charge electronic withdrawals will not be available to you. 5 What about How can I protect my interest? my account? Interest will be credited to your account as It is important that you prevent misuse of your per the account terms and conditions. It account and personal data. Here are some can also be transferred internally to another tips on how you can do this: Ipswich Building Society account or to your • Take care of your passbook and other bank account if this option is available on account information and let us know as your account. soon as possible if your passbook is lost. All interest you receive will be reported to • Notify us of any change in your name, HM Revenue & Customs who will use this address, telephone number or email information to assess your Personal Savings address Allowance. Interest earned on tax-free • Notify us if you do not receive information products such as ISAs do not count towards you were expecting to get from us your Personal Savings Allowance. Please refer to www.gov.uk for information. • Take care when disposing of information about your account • Check your statements or passbook How is interest regularly and tell us as soon as possible if there is an entry which seems to be worked out? wrong Interest is calculated on a daily basis, from the date we receive your investment up to the • Co-operate with us (or the police) in day before withdrawal. For example, if you investigating transactions pay in money on a Monday you earn interest • Never give your account details or on that day. If you withdraw on a Friday, security information to anyone unless interest is paid up to and including you know who they are and why they the Thursday. need them. Full details of interest rates are shown in our Please also see Section 17 of the General ‘Interest Rates’ leaflet and further details are Investment Terms and Conditions. set out in Section 7 of the General Investment Terms and Conditions. What do I do if my What happens if passbook is lost my account becomes or stolen? You’ll need to get in touch with us as soon dormant? as possible, either by contacting or visiting It’s very important to keep in touch with us your local branch or calling our Ipswich based on a regular basis. If you have not performed helpline in the first instance on 0330 123 a transaction on your account for a period 0723. We will need written confirmation and of 36 months you will be asked to provide also to confirm your identity. This can be done current identification in line with the Society’s by post if you are unable to visit a branch. identification requirements before we can carry out your instructions.

6 If you need to withdraw funds once we’ve confirmed your identity, you will be able to How do I make withdraw a maximum of £200 cash on the a complaint? day reported. You will also be able to request We want to deliver great service, but we a cheque made payable to the account know that from time to time things can go holder, our electronic withdrawal service wrong. We really want to know when you are will not be available to you. Replacement not happy with us so we can improve the passbooks may incur a charge - refer to our quality of our service and identify possible Tariff of Charges for more information. training needs. We don’t need you to put your complaint in What data do you writing; in person or over the telephone is fine, but if you do choose to email or write to hold about me and us, please provide a detailed description of can I see it? events leading up to your complaint. Please refer to our Privacy Notice which can There are no charges for making a complaint be obtained from any of our branches or and we’ll make sure all complaints are fully, from our website www.ibs.co.uk and fairly, answered and try to resolve the problem speedily. If we do not deal with your complaint to your satisfaction you can refer it What happens if you to the Financial Ombudsman Service. close my branch? Our ‘Making a Complaint’ leaflet is available We know how important our branch services which outlines our procedures and contact are, so if we plan to close or move your information for the Financial Ombudsman branch we will tell you at least 12 weeks Service. This is available on our website or beforehand, unless there are exceptional on request from a member of staff. circumstances. We will also tell you if we plan to close an Financial Services agency used by you and advise you of alternative facilities. Compensation Scheme What happens if We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS I move abroad? can pay compensation to depositors if a If you move abroad you will be asked to building society is unable to meet its financial close your account, unless that account is obligations. Most depositors, including an ISA, Junior ISA or Child Trust Fund. You most individuals and small businesses, can continue to invest each tax year into a are covered by the Scheme. You will be Junior ISA or Child Trust Fund on behalf of reminded of this Scheme annually. Please a child living abroad. However you can only see the Financial Services Compensation invest into your ISA during the first tax year Scheme Information Sheet, which is available in which you move abroad. in our branches or our website, for further information on this Scheme.

7 If you would like this in large print please call us on 0330 123 0723

Ipswich Building Society PO Box 547 Ipswich IP3 9WZ 0330 123 0723 [email protected] www.ibs.co.uk

Ipswich Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered on the Financial Services Register, Firm Registration Number (FRN) 104875.

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