Falcon FlexiSave

Falcon FlexiSave is a truly flexible account. It has been designed to allow for regular saving but you make the choice of when and how much you deposit. You are not restricted to investing the same amount each month and whilst you have the ability to make twelve deposits in a year, you do not have to. You choose how much and when, to suit your own requirements. Your balance, no matter how big or small, benefits from one enhanced rate.

Deposits and withdrawals

The account was originally developed taking into account the requirements of a regular saver. It can still be operated in such a way, although the account has been updated to now accept your choice of deposits over the 12 month period, which could be small amounts each month, half annual deposits or one lump sum deposit each year. The only restriction regarding deposits is that the account will only accept £6,000 per calendar year. This limit is applicable to the account and the opportunity to double that limit is not available if the account is held in joint names.

You can add to your investment at any time, either at a branch or by post, or if you choose to save regularly, you could consider setting up a standing order to suit your commitments.

As the account is aimed towards regular saving and attracts an enhanced interest rate, there are withdrawal restrictions. You may have instant access to your savings three times per year, after that, any subsequent withdrawal would require the account to be closed and the funds transferred to another suitable account type.

Withdrawals are simple and can be made at branch counters to provide cash or cheques. Postal requests offer cheques only. No notice of withdrawal is required, subject to the terms and conditions seen below.

Terms and Conditions of the Falcon FlexiSave account.

This section contains the particular terms of the FlexiSave Account (the "Specific Product Terms") and the general terms and conditions (the "General Terms").

Read together, the Specific Product Terms and the General Terms (a link to which is set out below), explain and govern how your account works. In particular, General Terms 4, 5 and 12 explain the circumstances in which we may change the interest rates and the terms and conditions to your account and any charges relating to your account - and how we will tell you about those changes. It is important that you read all of the terms applicable to your account before you decide whether to open it. If there is any inconsistency between the Specific Product Terms and the General Terms, then the Specific Product Term will apply.

If you open an account it will be with Yorkshire Building Society (trading as Barnsley Building Society). Barnsley Building Society is operated under its own brand with its own products and as a trading name of Yorkshire Building Society. References in the Specific Product Terms or in the General Terms to "you" and "your" are to the account holder. References to "we", "our" or to "the Barnsley" are to Yorkshire Building Society trading as Barnsley Building Society.

As you will be a member of Yorkshire Building Society, the Society's Rules will apply to you. A copy of the current Rules is available on request. Further information about membership and other issues can be found in the Yorkshire Building Society leaflet entitled "Your Society" available in all Barnsley branches.

Specific Product Terms

Investment : Minimum initial investment - £20 Maximum account holding - £50,000
Interest is paid - 31st December

Deposits : Account flexibility allows deposits to be made in a variety of ways from 12 regular monthly payments through to one annual deposit, dependant upon your requirements, up to the account's maximum of £50,000. There is no requirement for investors to make a minimum number of investments throughout the year, although the maximum is 1 per month.

Withdrawals: The account conditions only allow three withdrawals per calendar year. Once this limit has been achieved the next withdrawal is made under account closure, which is without loss of interest.

Investment Holding: Only one FlexiSave account will be permitted per investor whether held jointly or in sole name.

Click here to view the General Terms and Conditions of all the Barnsley Savings Accounts.