Important changes to your eSavings account terms and conditions

We have summarised the main changes to our terms and conditions below. You don’t have to do anything as a result of these changes but we do recommend you also read the updated terms and conditions in full.

Giving and cancelling payment instructions
Sections 9 and 11 of the terms and conditions explains how you can make electronic payments from your savings account, the ways in which you can instruct us to make electronic payments, and how long it will take for a payment to reach your nominated account. We also explain when we will treat your payment instruction as being received, the circumstances in which we can refuse to process or delay the processing of a payment instruction and how we will inform you if this happens.

Electronic payments
Sections 3 and 9 of the terms and conditions explain that money can only be paid into or out of your account in pounds sterling. Also, payments made electronically can only be received from or paid to another building society or bank in the UK. 

Section 27 explains that we will send you a monthly payment notification which will set out details of any payments made. 

Protecting the use of your savings account
Section 13 of the terms and conditions explains our right to stop or block the use of your account in order to protect misuse. We also explain how we will inform you of any such action either in advance, or in the case of suspected fraud or security concerns about your account, after we have taken the action.

How we will help resolve problems with payments
Sections 25 and 26 of the terms and conditions explain your rights if an electronic payment is made out of your account without your consent, if there is a mistake or delay in processing a payment instruction, or we do not process your instruction. We also explain the circumstances in which you might be held responsible for any loss. We recommend you read these new sections carefully.

Section 10 of the terms and conditions explains that if a payment is made into your account by mistake we must return the funds to the paying bank. If this is not possible we are required by law to provide your name and contact address to the paying bank so they can share this information with their customer to enable them to try to recover the money from you.

Closing or suspending your account
Section 32 of the terms and conditions explains the circumstances under which we have a right to close your account and how much notice we will give you before we do so.

How we will deal with complaints
Section 21 of the terms and conditions explains the ways in which you can make a complaint if you are unhappy with our service. 

You can download or print a copy of the updated eSavings account terms and conditions. Alternatively you can call us on 0344 481 4444 to ask us to send you a printed copy or you can pick up a copy from your local branch.

Making changes to the terms and conditions of your account
At various points throughout the terms and conditions we explain what notice we will give you of any changes we make to your terms and conditions in future, and what your rights are when we make those changes. Section 12 explains how we can change the interest rate(s) applicable to your savings account(s); section 14 explains how we can update our charges; and section 18 explains how we can change other terms and conditions.

What happens next?
The changes will automatically take effect on 13 January 2018. If you have any questions, please send us a secure message or contact us on 0344 481 4444. We hope you’ll be happy with the changes. But, if not, then with the exception of fixed rate savings accounts, you can close your account(s) with us within 60 days of 10 January 2018 and we shall waive any account closure notice periods that apply to the account(s). The account(s) will be closed without charge or any loss of interest. If you would like to exercise this right please send us a secure message.

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