|
|
Internet Account Terms & Conditions
onthedot accounts
Effective 1st January 2012
Please read carefully. |
|
| To download the documents on this page, you must have Adobe Acrobat Reader installed on your PC. |
 |
1. Introduction
If there are any inconsistencies between these documents, the individual product terms and conditions take precedence. The You-View Terms and Conditions take precedence over the general Savings Account Terms and Conditions.2. Definitions“Society” means Market Harborough Building Society.“Working Day” means a week-day between Monday and Friday inclusive, but excludes public holidays.
“You-View” means the Society's interactive online enquiry and transaction request service.3. Opening an account
These accounts can only be held by individuals aged 16 and over resident in the UK, for their own benefit; they are not available for business use, or to trustees. Attorneys may register powers on existing accounts, but may not open new accounts.4. ReceiptsThe initial investment must be made by cheque and sent to the Society by post. Cheques should be made payable to the customer. Subsequently payments made by cheque must quote the Onthedot account number on the back of the cheque and on the accompanying letter or paying-in slip. Customers who operate internet bank accounts can make payments by electronic transfer. Payments will not be accepted at branch counters or by cash.5. Interest RatesThe reasons for changing interest rates are set out in Section 4 of the general Savings Account Terms and Conditions. We will give you two calendar months’ notice of any downward change in interest rates by letter, e-mail, secure message or other personal notice. If you do not object to the proposed change before the date on which it is due to take effect you will be deemed to have accepted it. Where you notify us that you do not accept a change, we will take this as notification that you wish to close your account, which you will be able to do without any charges or loss of interest that might normally apply.We can make an upward change in interest rates immediately and we will tell you about it:
(a) by letter, e-mail, or other personal notice within 30 days (this method is always used for internet accounts); or
(b) by general notice in our branches and Principal Office, together with advertisements in two or more newspapers of our choice within 3 days. You can find out which are the relevant newspapers by contacting the Principal Office; they are also listed on the interest rate leaflets. 6. Interest Payment
Annual Accounts
Interest is paid annually on 30th June.
Monthly Accounts
Interest is paid on the last day of each month.
7. WithdrawalsWithdrawals from Onthedot accounts can only be made via the You-View service, by electronic transfer to a nominated bank account. Unless a transaction is to close an account the minimum withdrawal amount is £100.8. 30 Day Notice AccountWhere notice of withdrawal is given, payment will be made on the thirtieth day following receipt of the notice. An electronic payment will be made unless the Society is otherwise instructed (see Section 6 of the You-View Terms and Conditions). If the thirtieth day is not a bank working day, payment will be made on the next bank working day after the thirtieth day.Where notice of withdrawal is not given, a penalty equivalent to 30 days gross interest at the rate applicable to the account on the date of withdrawal will be charged on the amount of the withdrawal.9. Changes to these Terms and ConditionsThese Terms and Conditions remain in force for as long as you hold an Onthedot account with the Society or until we notify you of a change.For changes to interest rates, see Section 5; for all other changes, the conditions detailed below will apply.Changes may include the removal of or amendment to conditions or the inclusion of new conditions, and may be made if we reasonably believe that the change is needed for any of the following reasons (which may relate to circumstances existing at the time or those which are expected to apply in the near future):
(a) to take account, in a proportionate manner, of changes in the general deposit account practice of banks and building societies offering similar services including the terms on which they offer similar products;
(b) to take account, in a proportionate manner, of changes in the costs we incur in providing the services and facilities available on your account (including changes in technology) because of:
the reasonable steps we have taken to change our systems for managing those services and facilities; or
reasons outside our control;
(c) to give extra benefit to savers (including making the terms of accounts easier to understand);
(d) to take account of, in a proportionate manner, changes in the law, decisions of an Ombudsman, regulator or similar person, or any code of practice with which we intend to comply;
(e) to correct errors, where it is reasonable to do so;
(f) to take account of changes in technology or security design. If the change relates to any of these Terms and Conditions dealing with the making of automated payments on your account we will give you two months’ personal notice of any change. Notice will usually be given via You-View. Where you notify us that you do not accept the change we will take this as notification that you wish to close your account without notice or loss of interest.
For any other change to these Terms and Conditions the following provisions apply:
(1) where the change is to your advantage the change will be made immediately and will be publicised on our website and in our branches within 30 days of the change;
(2) if the change is to your disadvantage we will give you personal notice at least 30 days before the change is to take effect:
(a) if we require you to give notice before making a withdrawal or restrict the amount you may withdraw and/or the number of withdrawals you may make in any period, then from the date we sent the notice of the change you will have a minimum of 60 days, or if greater, a period equal to the notice period, to close your account without notice or loss of interest and without paying any fees or charges for withdrawal that would otherwise be due;
(b) if your account is for a fixed term any change notified to you will take effect at the end of the fixed term, and you will be deemed to have accepted the change unless you notify us in writing that you do not agree to the change as soon as possible and in any event before the end of the fixed term. If you notify us that you do not accept the change, we will take this as notification that you wish to close your account at the end of the fixed term.
We reserve the right to terminate our contract with you in accordance with our general Savings Account Terms and Conditions. 10. General
You should remember to advise the Society of any changes to your e-mail address (you can do this through You-View).
The minimum investment in an Onthedot account is £1.Sixty+ Surfer account is only available to investors aged 60 and over.Customers may hold more than one Onthedot account but the maximum holding per person is £150,000.
The Society will normally only notify changes to terms and conditions via You-View. All parties to joint accounts should therefore be registered with You-View to receive such notifications.Joint accounts are only accepted on the understanding that either party may give authority for withdrawals, and for changes to account information.
Statements of account are not issued, but transactions can be viewed on-line and printed at any time. From time to time the Society may delete from the on-line system information concerning transactions that are more than two years old.No passbook or other form of account document will be issued for Onthedot accounts.Market Harborough Building Society
Welland House
The Square
Market Harborough
Leicestershire
LE16 7PDTel: 01858 412250
Fax: 01858 412254Web Site: www.mhbs.co.ukE-Mail: CustomersFirst@mhbs.co.uk | |
 |