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Savings & Investments
Albion Cheque Account
The flexible way to manage your finances
The Albion Cheque Account from Leeds Building Society is a straightforward account, offering a great rate of interest coupled with free banking (provided your account remains in credit) - and you get access to your money with the cheque book.
| Summary Box Key Product Information for our Savings Account(s) |
|
|---|---|
| Account Name | Albion Cheque Account |
| Interest Rates (AERs) | See the "How much interest will I earn?" table below. |
| Tax Status | The gross rate(s) of interest shown will be payable net of the appropriate rate of income tax (which may be reclaimed by non-taxpayers) or, subject to the required certification, gross. |
| Conditions for bonus payment | There is no bonus available on this account. |
| Withdrawal arrangements | Unlimited withdrawals may be made without notice or loss of interest, the minimum balance of £2,500 must be maintained in order to receive the interest rates detailed below. Direct Debits, Standing Orders, BACS and CHAPS are available. Cash deposits/withdrawals are not available on this account. |
| Access | Account can be opened and operated through any of our branches or by post. |
How much interest will I earn?
| Investment | Annual Interest % Gross§ p.a./AER† (Variable) |
|---|---|
| £100,000+ | 2.25 |
| £50,000+ | 1.80 |
| £25,000+ | 1.75 |
| £10,000+ | 1.70 |
| £2,500+ | 1.35 |
Rates correct as at 31 December 2010.
Other Product Features:
Minimum and maximum investment and operating balance:
The minimum investment is £2,500 and the maximum investment and operating balance is £1,000,000 (£2,000,000 for joint accounts).
When is interest paid?
Interest is paid annually on 1 June.
How is interest paid?
Interest is credited to the account.
Unauthorised overdraft charges
If you use the Albion Cheque Account to make payments when you do not have enough money in your account, you may have to pay charges as a result. View details of our unauthorised overdraft charges.
Open an account and earn interest straight away
You can open the account with a deposit of £2,500 or more, either by post or at your local Leeds Building Society branch. Cash transactions are not permitted on this account (this is one of the reasons we can offer higher rates of interest).
The rate of interest reflects the amount of money held in the account and our rates get higher as the balance on the account grows - the higher the balance, the higher the interest rate. When the balance moves to a higher (or lower) band the interest rate that applies is paid on the whole balance on the account.
In a nutshell you’ll get:
- A great rate of interest, great for higher balances
- Unlimited withdrawals with no notice or loss of interest - please note that cash withdrawals are not permitted.
- Unlimited deposits up to £1,000,000 (£2,000,000 for joint accounts) - please note that cash deposits are not permitted.
- Cheque book - great for larger purchases. Direct Debit and Standing Order facilities to pay regular bills
- Free banking for day to day transactions (providing your account remains in credit)
- Statements at least once a year or monthly where there has been a transaction in the previous month
- No catches, there’s no commitment for regular deposits to be made
Savings with all the benefits of banking - no catches!
You won’t have to pay a penny! There are no monthly or annual charges to run the account provided your account remains in credit.
No matter how many transactions you make by cheque, BACS, Standing Order or Direct Debit, you will not be charged for the day to day operation of your account provided your account remains in credit.
The only time you may attract charges is for some ancillary services and when the account operates outside of the agreed Terms and Conditions. These charges are detailed in the Albion Cheque Account Tariff of Fees and Costs included with the Albion Cheque Account Terms and Conditions.
