Savings

e-Bond - General terms & conditions

This section and the product terms page contain the full terms applying to e-Bond. It is important that you read these before you open an account

  1. Introduction & Eligibility
  2. Rules of the Society
  3. Deposits
  4. Withdrawals
  5. Joint Accounts
  6. Changes to these Terms
  7. Interest of Other Persons
  8. Right to Close the Account
  9. Charges
  10. Unclaimed Balances
  11. Our Rights Over Your Money
  12. Service of Notice
  13. Statements
  14. Interest
  15. Tax
  16. Recording of Telephone Conversations
  17. Death of Sole Account Holder
  18. Governing Law

 

  1. Introduction & Eligibility

    These general terms apply in addition to the particular terms for your e-Bond (“product terms”). View the product terms

    It is important that you read the product terms and these general terms before you decide whether to open the account. If there is any inconsistency between a general term and a product term, the product term will apply.

    Terms 6 & 9 explain the circumstances in which we may change the terms and conditions and any charges relating to your account, and how we will tell you about the changes.

    References in these terms to 'you' and 'your' are to the account holder(s). References to 'We' and 'Our' and 'Society' are to Yorkshire Building Society.

    Back to top of page


  2. Rules of the Society

    As you will be a member of the Society, the Society's Rules will apply to you. A copy of the current Rules is Adobe pdf image available for download or on request. Further information about membership can be found in Your Society.

    Back to top of page


  3. Deposits

    1. The minimum initial deposit is £100.
    2. The maximum amount you can deposit is £500,000.
    3. Your initial deposit can be by cheque. Any cheques subsequently received will be returned to you.
    4. We do not accept Postal Orders.
    5. Additional deposits (minimum amount £1) must be transfers, either from another bank or building society account, e.g. by standing order, or another account held with the Yorkshire. Deposits by account transfer will start to earn interest on the day they are credited to your account. To set up a standing order you need to quote the sort code 60-92-04 and your account number which is the first 8 digits of your account number, if you are asked for a reference number please quote the full 10 digits of your account number.

    Back to top of page


  4. Withdrawals

    Withdrawals can be made from your account, where a product term permits, if there are sufficient cleared funds in your account. This is subject to the following:

    1. The central clearing cycle for cheques and automated payments is normally 2 working days. As the Society is not a clearing bank we will normally treat cheques as cleared on the fifth working day following the day of receipt. Cheques paid in on a non-working day will be treated as received on the next working day (working days exclude Saturdays, Sundays and Bank Holidays); see table below.

      Day Cheque Paid In Day Interest Earned Day Money Available
      Monday Wednesday Monday (week 2)
      Tuesday Thursday Tuesday (week 2)
      Wednesday Friday Wednesday (week 2)
      Thursday Monday Thursday (week 2)
      Friday Tuesday Friday (week 2)
      Saturday Wednesday Monday (week 2)

      Automated payments will be treated as cleared on the day of receipt.


    2. We will not regard a cheque drawn on a bank with an address outside the UK as cleared until we have received the cleared funds for your credit. This means that you may not be able to withdraw against such a cheque for a period, which is longer than in (a) above and which may be up to 25 working days from the date or receipt of the cheque.
    3. We can restrict at any time the amount which can be withdrawn from an account if:
      1. We reasonably believe that there may be fraud or some other unlawful activity affecting the account;
      2. We are required to do so by law, our regulator or order of the court;
      3. There is a dispute (which we reasonably believe may be genuine) about the ownership of or entitlement to, the money in the account;
      4. Circumstances beyond our reasonable control prevent us from offering a normal service (such as computer failure or industrial action);
      5. Circumstances exist which lead us reasonably to believe our financial stability may be at risk (such as actual or potential abnormal levels or withdrawals)

        In the case of (iv) and (v) above

        • We will respond proportionately to the circumstances in question;
        • We will take all reasonable steps to ensure that the restrictions are lifted as soon as practicable so that the inconvenience to you is minimised;
        • We will take in to account the interests of our membership as a whole;
        • We will, if practicable, give advance notice; and
        • We may consider exceptions to the restrictions if we are reasonably satisfied that substantial hardship would otherwise be caused

    4. If a cheque is returned unpaid before the end of the sixth working day following the day of receipt, interest will be adjusted. We will debit your account with the amount of the cheque even if we have allowed withdrawals against it. A cheque that has been returned unpaid will not be debited to your account after the sixth working day following day of receipt, without your consent
    5. Funds withdrawn earn interest up to but not including, the day of withdrawal
    6. You will not be able to withdraw against the initial cheque deposit until the cheque has fully cleared and is included in your available balance. If the cheque is returned unpaid, we will deduct the amount from your balance even if we have allowed withdrawals against it
    7. Withdrawals are allowed by logging on to our website to transfer to your nominated bank or building society account held elsewhere or with us
    8. Transfers to an account with another bank or building society can take up to 5 working days
    9. Transfers to another account with the society will normally be credited the next working day
    10. All payments into and withdrawals from your account must be in sterling

    Back to top of page


  5. Joint Accounts
    1. All terms apply to all of you together and each of you on your own.
    2. Each of you can be held fully responsible for any liability that you may have.
    3. Because the law relating to Building Societies requires this, whichever of you is the first named in our records is called the 'representative joint shareholder' for the purpose of membership. Information about membership can be found in Your Society.
    4. We will accept instructions from, or rely on the signature of, any one of you for all purposes relating to the account. This includes withdrawals, changes to the account, such as your address or closure of the account. This term applies:
      1. Unless agreed otherwise at the time the account is opened, or
      2. Until we are told otherwise by any one of you, or
      3. Unless the provisions of paragraph 5(e) apply.

        In the case of d) i) or ii) the authority or signature of all of you will be required.

    5. This paragraph applies if we become aware of a dispute between you (e.g. in the event of a relationship breakdown); from that time: 
      1. We may require the authority or the signatures of all of you for any further transactions on the account, including withdrawals, any standing order or direct debit payments and closure, and
      2. Interest will be credited to the account when it is paid by us, overriding any earlier instructions we may have received.
    6. if one of you dies:
      1. The survivor(s) should tell us of the death and provide us with proof of death;
      2. We will then change the account so that it can be operated by the survivor(s)
      3. The survivor(s) own(s) the account and only the survivor(s) is/are able to operate it.
    7. Further information about joint accounts can be found in the leaflet 'you and your joint account' available on request.

    Back to top of page


  6. Changes to these Terms

    1. We can change these general terms at any time (other than charges which can be changed under term 9) at any time. Changes may include the removal of or any amendment to the terms or the inclusion of new terms and may be made if we reasonably believe that the change is needed for any one or more of the following reasons (which may relate to circumstances existing at the time or which we reasonably expect to apply in the near future):
      1. to take account of changes in our products or services we provide or the way we provide them;
      2. to enable us to operate and administer your account more efficiently (which includes improving our efficiency such as by taking in to account developments in technology);
      3. to give extra benefit to savers (including making the terms of accounts easier for you to understand);
      4. to correct mistakes if it is reasonable to do so;
      5. To take account of changes in general building society and banking practice if it is reasonable to do so;
      6. to take account of, in a proportionate manner, changes in the law or the interpretation of the law, decisions or recommendations of an ombudsman, regulator or similar person, or any code of practice applicable to the conduct of our business;
      7. If you agree;
      8. if the change is to your advantage;
      9. to enable us to manage our business (and its growth) prudently.
    2. We will notify you of any such changes (other than in respect of interest rates or charges) as follows
      1. Where we wish to make a change that is to your disadvantage we will tell you about it at least 30 days before we make the change by email. You may switch your account or close it within 60 days of the date of such a notice without giving notice or paying any additional charges or additional interest for doing so;
      2. Where we wish to make any other change, we may make the change immediately and tell you about it within 30 days by email
    3. If there have been significant changes in any one year, we will give or send you a copy of the new terms or a summary of the changes.

    Back to top of page


  7. Interest of Other Persons

    We do not have to recognise the interest or claim of any person other than the account holder in respect of money held in the account, nor will we be liable in any way for failing to recognise such interest or claim, except as required by law.

    Back to top of page


  8. Right to Close the Account

    1. Subject to general term 4 and to the product terms of your account, you can close the account at any time without giving any reason and without notice or charge.
    2. We can repay to you any part of your savings at any time and without giving any reason. Under normal circumstances we will give you at least 30 days' notice and will not use this right solely to repay a fixed term investment before the end of the fixed term. If there are exceptional circumstances, for example, fraud or other unlawful activity or threatening or abusive behaviour or you have breached any ISA regulations, we may close your account immediately, whether or not the account is for a fixed term.

    Back to top of page


  9. Charges

    1. We may make charges for opening and administering your account and for services provided in connection with it and deduct those charges from the balance in your account. We will tell you about a charge, which affects a particular product or service, before we provide you with the product or service, before you use it or at any other time you ask. All details about our charges are on our website.
    2. We can change the charges we make and introduce new charges at any time if it is to your advantage (for example to reduce or remove a charge) or if we reasonably believe that this is necessary for any one or more of the following reasons (which may relate to circumstances existing at the time or which we reasonably expect to apply in the near future):
      1. to take account of, in a proportionate manner, changes in the expenses we reasonably incur(including our reasonable management and administrative costs) in respect of the particular product or service provided to you;
      2. to take account of, in a proportionate manner, changes in technology or general practice in the consumer savings industry;
      3. to take account of, in a proportionate manner, changes we may reasonably make in the products and services we provide or the activities we carry out;
      4. to take account of, in a proportionate manner, changes in the law or the interpretation of the law, decisions or recommendations of an ombudsman, regulator or similar person, or any code of practice applicable to the conduct of our business;
      5. to enable us to harmonise, in a reasonable manner, the charges being paid by our savers following any acquisition or transfer of deposit or savings accounts or any take over of, or merger with, another savings provider;
      6. to take account of, in a proportionate manner, inflation;
      7. to correct mistakes if it is reasonable to do so;
      8. to enable us to manage our business (and its growth) prudently.
    3. Where we introduce new charges, or increase existing charges for any of the reasons mentioned in 9b), we will tell you about the charge (unless it relates to a non-standard charge which we will tell you about on request) not less than 30 days before it takes effect by email.
    4. A change that abolishes a charge or reduces the amount of an existing charge may be introduced with immediate effect and without notice.

    Back to top of page


  10. Unclaimed Balances

    If you cannot be traced after a reasonable enquiry, and either:

    1. For a period of 3 years you have made no payment to or withdrawal from your account and the amount in that account is less than £100, or
    2. For a period of 5 years you have made no payment to or withdrawal from your account;

    we may decide to close that account and the money in it will be retained by us. If, however, you contact us at a later date we will either open a new account for you and credit that account with the amount of money in the closed account or repay the money to you, with interest, at a rate we reasonably consider to be appropriate.

    Back to top of page


  11. Our Rights Over Your Money

    We may use the money in any account you have with us to pay any money you owe us (whether under a loan, guarantee or otherwise) which is due for payment but which has not been paid. We will tell you if we do this. No interest will be earned on any money used in this way.

    Back to top of page


  12. Service of Notices

    1. As we will advise you of changes to the e-Bond terms by e-mail, it is very important that you notify us if your e-mail address changes. We will assume that you have received any personal notification by e-mail 24 hours after sending it to you. If you do not receive the notification, this will not make it invalid.
    2. If you wish to change details that we hold, for example your name, address, e-mail address or the account to which withdrawals are made, we will require such changes to be notified in writing.

    Back to top of page


  13. Statements

    We will not send statements to you. You will be able to access your account online and view statements at any time, which will include details of interest paid.

    Back to top of page


  14. Interest

    1. Interest is calculated on a daily basis starting on the second working day following the day of receipt for cheques and on the day of receipt for cash and up to, but not including, the day of withdrawal. Cheques paid in on a non-working day are treated as received on the next working day (working days exclude Saturdays, Sundays and Bank Holidays). In the case of a cheque drawn on a bank with an address outside the UK interest will start on the day the cleared funds are credited to your account.
    2. Once in each year where the interest payable to you or credited to your account is not an exact multiple of £1, we will pay from the account an amount (which will not exceed 99p) equal to the pence of interest to the Yorkshire Building Society Charitable Foundation. This will be used for charitable purposes, unless you (or any one of you if there is more than one account holder) tell us not to at any time.

    Back to top of page


  15. Tax
    1. If you are entitled to receive interest without tax deducted you should read the following R85 help sheet and then proceed to fill in HM Revenue & Customs registration form R85 and send it to us. We will then be able to pay your interest gross.
    2. All savers should declare interest earned when making a tax return. It is your responsibility, not ours, to make this declaration.

    Back to top of page


  16. Recording of Telephone Conversations

    To improve the quality of our service, all communications with us may be recorded for staff training and your protection and security.

    Back to top of page


  17. Death of Sole Account Holder

    If your e-Bond account is in your sole name and you die, we will close the account and transfer the balance to our postal saver account so that it may be operated by your personal representatives.

    Back to top of page


  18. Governing Law

    These terms are governed by the laws of the country in the United Kingdom (i.e. England and Wales, Scotland or Northern Ireland) where you opened the account.

    Back to top of page


Choose from the options below:


Yorkshire Building Society is one of the largest building societies in the UK. We offer a range of financial products and services including: savings & investment accounts, insurance products, credit cards, loans, mortgages and more.

Get in touch with us:

Yorkshire Building Society is authorised and regulated by the Financial Services Authority (FSA).