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Business Direct Accounts T&Cs |
| Terms & Conditions This leaflet should be read together with our “Share & Deposit Account General Terms & Conditions”, and “Savings Rates Terms and Conditions” booklets, before applying to open an account. You should read this document carefully to ensure you understand what you are buying and keep it safe for future reference. General • The account is available to sole traders, partnerships, incorporated organisations and registered charities. • Product is a postal account operated solely through Head Office. • Signatories on the account must be over 18. • The Society reserves the right to withdraw this account at any time, without notice, although there are no current plans to withdraw this product. • English Law applies and the Society will communicate in English in all matters relating to this account.
A maximum of two BACS withdrawals per month will be undertaken free of charge, thereafter, all BACS transfers will be charged at £1 each. This fee will be debited from your account. Deposits Must be in the name of the account title and can be made by cheque or direct transfer from a UK bank account. Interest and Income Tax A variable rate of interest will be applied to your chosen account. Interest will be calculated daily and capitalised annually on the 31st December, or if the monthly option taken, interest will be capitalised on the last day of each month. Where required by legislation, interest will be credited after deduction of income tax at the appropriate rate specified by law. Subject to the appropriate declaration it is possible for the Society to pay interest gross with no tax deducted. Applicants should discuss eligibility with their tax office and obtain the declaration form. How to Open an Account For sole traders and partnerships we will need a fully completed share account application form, and for incorporated organisations and registered charities a fully completed deposit application form. Personal details are required for each signatory. An initial deposit of at least £2,500, by cheque from a UK bank in the name of the business or charity, or by direct bank transfer. Identification will be required for all signatories, and we will need to see two original forms of identification to prove name and verification of address. For incorporated businesses, a copy of your Certificate of Incorporation will be required, together with a copy (on headed notepaper) of a Board resolution to open a deposit account with Bath Building Society, advising who the signatories will be and the number required to operate the account. For charitable organisations, we will require a letter from the Charity’s governing body stating their intention to open a deposit account with Bath Building Society, advising who the signatories will be and the number required to operate the account. For partnerships, where there are more partners than named signatories on the account, we will require a letter signed on behalf of the firm advising who the signatories will be and the number required to operate the account. This letter must be signed by a Partner who is not one of the named signatories.  Click here to view our current Interest Rates |
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Bath Building Society 2008. E&O.E (click here to view Legal Information and here for our Privacy Policy) |
