This section tells you about the key features of Internet Saver.
To open an Internet Saver, you must be aged 16 or over and must be a UK resident. An account can be held in your sole name, or jointly with one other eligible individual.
You must maintain a minimum balance of £1 in your account at all times. The maximum balance is £1,000,000.
The rate of interest for the Internet Saver is variable. Interest can be added to your account annually on the 31st March or it can be paid monthly on the last day of the month, but must be paid into another Yorkshire Building Society account or an external account held with another bank or building society.
Your initial deposit can be by cheque or debit card (providing your identity can be verified electronically during the online application process). Additional deposits can be by:
Please note that some banks or building societies may charge you for electronic transfers.
The Society does not accept Postal Orders.
Withdrawals can be made from your account at any time on condition that there are sufficient cleared funds in your account and that you maintain the minimum balance of £1.
Withdrawals are only allowed either by:
You may nominate twelve external accounts for withdrawals to be transferred to, and you will also be able to choose up to three other Yorkshire accounts to receive transfers from your Internet Saver account.
If you choose to have a LINK card on your Internet Saver account, you will be able to withdraw up to £250 per day in cash from over 30,000 cash machines around the country.
You will be able to check your balance and interest rate and view statements showing transactions on your account whenever you wish. Whenever we change the rate of interest applying to Internet Saver, we will inform you by e-mail within 30 days of the change. It is important that you let us know if your e-mail address changes.
As we will advise you of changes to Internet Saver interest rate and terms, and generally communicate with you, via email, it is very important that you notify us if your email address changes.
You can change your contact details (postal address, email and telephone) when you are logged in. To change your name you will need to write, enclosing proof of the change, to Savings Service, Yorkshire Building Society, Yorkshire House, Bradford, West Yorkshire, BD5 8LJ.
If you open an Internet Saver account and subsequently change your mind within 14 days, we will either transfer your savings to another account with us (subject to the completion of the appropriate application form) or repay them to you with interest earned up to but not including, the day of closure. Contact us for more details.
If at any time you’re not satisfied with the service you’ve received, please let us know. We have a simple process enabling you to do this, the details of which are in our leaflet ‘We’re here to help you – our complaints process’, which can be downloaded from this site, obtained at any of our branches or requested by calling us on 0845 1200 300.
If we cannot come to a resolution to your satisfaction, you may have the right to refer the matter to the Financial Ombudsman Service, of which we are a member.
Yorkshire Building Society is a participant in the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Payments under the scheme are limited to 100% of an investor’s total shares and/or deposits in a society, up to a maximum amount of £35,000. Most investors are covered, including individuals and small firms. Although most shares and deposits are denominated in Sterling, all other currencies are covered. Further details on the scheme and on the implications of having your savings and mortgage with the same provider, are available on our factsheet ‘the financial services compensation scheme for deposit taking activities’. We also subscribe to the Banking Code, a copy of which is available on request. Yorkshire Building Society will communicate with you in English.
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.
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Yorkshire Building Society is authorised and regulated by the Financial Services Authority (FSA).
