Freedom to do things in your own time

Key Features

This section and Terms contain the full terms for the Online Saver. It is important that you read these before applying. We also recommend that you read the Banking Code information, our Complaints Process and important legal information.

Eligibility

To open an Online Saver, you must be aged 16 or over and must be a UK resident. An account can be held in your sole name, or jointly with one other eligible individual.

Minimum and maximum balance

You must maintain a minimum balance of £1 in your account at all times. The maximum balance is £1,000,000.

Interest

The rate of interest for the Online Saver is variable. Interest can be added to your account annually on the 31st March or it can be paid monthly on the last day of the month, but must be paid into another Barnsley Building Society account or an external account held with another bank or building society.

Depositing money

Your initial deposit can be by debit card (or by cheque if your identity cannot be verified electronically during the online application process). Additional deposits can be by:

• Debit card
• Transfer from another bank or building society account, e.g. by standing order
• Transfer from another Barnsley Building Society account.

Please note that some banks or building societies may charge you for electronic transfers.

We do not accept Postal Orders.

Withdrawing money

Withdrawals can be made from your account at any time on condition that there are sufficient cleared funds in your account and that you maintain the minimum balance of £1.

Withdrawals are only allowed by logging onto our website to transfer to your nominated bank or building society account or a nominated account held with us.

Transferring to other accounts

You may nominate twelve external accounts for withdrawals to be transferred to (please note this includes the Barnsley e-Save and Barnsley non-internet accounts). You will also be able to choose up to three other Barnsley Online accounts (excludes e-Save) to receive transfers from your Online Saver account.

Keeping track of your account

You will be able to check your balance and interest rate and view statements showing transactions on your account whenever you wish. Whenever we change the rate of interest applying to Online Saver, we will inform you by e-mail within 30 days of the change. It is important that you let us know if your e-mail address changes.

Changing your details

As we will advise you of changes to Online Saver interest rate and terms, and generally communicate with you, via email, it is very important that you notify us if your email address changes.

You can change your contact details (postal address, email and telephone) when you are logged in. To change your name you will need to write, enclosing proof of the change, to Barnsley Internet Savings, PO Box 216, Bradford, BD5 5BE.

If you change your mind

If you open an Online Saver account and subsequently change your mind within 14 days, we will either transfer your savings to another account with us (subject to the completion of the appropriate application form) or repay them to you with interest earned up to but not including, the day of closure. Contact us for more details.

Not happy with our service?

If at any time you're not satisfied with the service you've received, please let us know. We have a simple process enabling you to do this, the details of which are in our leaflet "Our Top Priority Is You", which can be downloaded from this site, obtained at any of our branches or requested by calling us on 0845 1200 898.

If we cannot come to a resolution to your satisfaction, you may have the right to refer the matter to the Financial Ombudsman Service, of which we are a member.

The Barnsley

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.

Financial Services Compensation Scheme

Yorkshire Building Society is a participant in the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000.

Payments under the scheme are limited to 100% of an investor's total shares and/or deposits in a society, up to a maximum amount of £50,000. Most investors are covered, including individuals and small firms.

We also subscribe to the Banking Code, a copy of which is available on request.

Barnsley Building Society will communicate with you in English.

Terms & Conditions

This section and the key features contain the full terms for Online Saver. It is important that you read these before applying. We also recommend that you read the Banking Code information, our Complaints Process and important legal information.

1. Introduction & Eligibility

To open an Online Saver, you must be aged 16 or over and must be a UK resident. An account can be held in your sole name, or jointly with one other eligible individual.

This section contains the general terms and conditions (the “General Terms”) that apply to the Barnsley Building Society Online Saver and the particular terms of the Barnsley Building Society Online Saver (the “Specific Product Terms”).  Read together, the Specific Product Terms and the General Terms, explain and govern how your account works. In particular, General Terms 6, 7 and 10 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.

2. Rules of the 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 Yorkshire Building Society leaflet entitled “Your Society” available in all Barnsley branches.

3. Deposits

1. The minimum initial deposit is £1.
2. The maximum amount you can deposit is £1,000,000.
3. Your initial deposit can be by debit card or cheque. Any cheques subsequently received will be returned to you.
4. We do not accept Postal Orders
5. Additional deposits (minimum amount £1) must be transfers, either from another bank or building society account, e.g. by standing order, or another account held with the Barnsley. Deposits by account transfer from another Barnsley Online account (excludes e-save) will start to earn interest on the day they are credited to your account. Deposits from other Barnsley accounts (including the Barnsley e-save account or non-internet accounts) may take longer and will start to earn interest at the point it is credited to the account. To set up a standing order you need to quote the sort code 62-31-11 and a bank account number which comprises the first 8 digits of your Online account number. If you are asked for a reference number please quote the full 10 digits of your Online account number.
6. If you open an Online Saver and then change your mind within 14 days, we will close your account and repay your deposit, plus any interest you have earned.

4. Withdrawals and Clearance Periods

1. Withdrawals and deposits can be made to or from your account, where a product term permits.  You will need sufficient cleared funds in your account(s) to make withdrawals. Withdrawals and deposits are subject to the following:
   1. The central clearing cycle for cheques and automated payments, through the clearing system know as BACS, is normally 3 working days (working days exclude Saturdays, Sundays and Bank Holidays). As we are not a clearing bank we will normally treat cheques as cleared on the 5th working day following the day of receipt. Cheques paid in on a non-working day will be treated as received on the next working day.
   2. Automated payments through BACS will be treated as cleared on the day of we receive them.
   3. Payments through the Faster Payments Service will be treated as cleared on the day we receive them and will normally be updated to the account on the same day, but no later than the next working day, (e.g. where customers transfer funds later in the day).
   4. Payments by debit card (where this method is available to you) will be treated as cleared on the third working day following the day we receive them.
2. Cheque Clearance Period
   Examples of timings of cheque clearance periods 
   
   

   Day cheque paid into your account - Transaction Day	Interest earned from 2nd Working Day after Transaction Day	Withdrawals can be made from 5th Working Day after Transaction Day	By the end of the 6th Working Day after Transaction Day you can be certain the money is yours. This is the last day when this cheque can be reclaimed from your account.*
   Monday	Wednesday	Monday (week 2)	End of Tuesday (week 2)
   Tuesday	Thursday	Tuesday (week 2)	End of Wednesday (week 2)
   Wednesday	Friday	Wednesday (week 2)	End of Thursday (week 2)
   Thursday	Monday	Thursday (week 2)	End of Friday (week 2)
   Friday	Tuesday	Friday (week 2)	End of Monday (week 2)
   Saturday	Wednesday	Monday (week 2)	End of Tuesday (week 2)

   
   Please note: cheques paid in on non-working days will be treated as received on the next working day (working days exclude Saturdays, Sundays and Bank Holidays).
   
   *The exceptions to this rule are when we have your consent for the cheque to be reclaimed or the payee is a knowing party to fraud.
   
3. We will not regard a cheque drawn on a bank with an address outside the UK as cleared until we have received the cleared funds for your credit. This means that you may not be able to withdraw against such a cheque for a period, which is longer than in (a) above and which may be up to 25 working days from the date or receipt of the cheque.
4. We can restrict at any time the amount which can be withdrawn from an account if:
   1. We reasonably believe that there may be fraud or some other unlawful activity affecting the account;
   2. We are required to do so by law, our regulator or order of the court;
   3. There is a dispute (which we reasonably believe may be genuine) about the ownership of or entitlement to, the money in the account;
   4. Circumstances beyond our reasonable control prevent us from offering a normal service (such as computer failure or industrial action);
   5. Circumstances exist which lead us reasonably to believe our financial stability may be at risk (such as actual or potential abnormal levels or withdrawals)
      
      In the case of (iv) and (v) above
      1. We will respond proportionately to the circumstances in question;
      2. We will take all reasonable steps to ensure that the restrictions are lifted as soon as practicable so that the inconvenience to you is minimised;
      3. We will take in to account the interests of our membership as a whole;
      4. We will, if practicable, give advance notice; and
      5. We may consider exceptions to the restrictions if we are reasonably satisfied that substantial hardship would otherwise be caused
5. If a cheque is returned unpaid before the end of the sixth working day following the day of receipt, interest will be adjusted. We will debit your account with the amount of the cheque even if we have allowed withdrawals against it. A cheque that has been returned unpaid will not be debited to your account after the sixth working day following day of receipt, without your consent or where we reasonable believe the payee is a knowing party to fraud
6. The minimum amount you can withdraw is £1, and you must maintain a minimum balance of £1.
7. Funds withdrawn earn interest up to but not including, the day of withdrawal
8. You will not be able to withdraw against the initial cheque deposit until the cheque has fully cleared and is included in your available balance. If the cheque is returned unpaid, we will deduct the amount from your balance even if we have allowed withdrawals against it
9. Withdrawals are allowed by logging on to our website to transfer to your nominated bank or building society account held elsewhere or with us
10. Transfers to another Barnsley Online account will normally be credited the next working day. Transfers to other Barnsley accounts (including the Barnsley e-Save account or non-internet accounts) may take up to 5 working days  
11. All payments into and withdrawals from your account must be in sterling.

5. Joint Accounts

1. All terms apply to all of you together and each of you on your own.
2. Each of you can be held fully responsible for any liability that you may have.
3. Because the law relating to Building Societies requires this, whichever of you is the first named in our records is called the 'representative joint shareholder' for the purpose of membership. Information about membership can be found in the Yorkshire Building Society leaflet, 'Your Society'.
4. We will accept instructions from, or rely on the signature of, any one of you for all purposes relating to the account. This includes withdrawals, changes to the account, such as your address or closure of the account. This term applies:
   1. Unless agreed otherwise at the time the account is opened, or
   2. Until we are told otherwise by any one of you, or
   3. Unless the provisions of paragraph 4(e) apply.
      
      In the case of d) i) or ii) the authority or signature of all of you will be required.
5. This paragraph applies if we become aware of a dispute between you (e.g. in the event of a relationship breakdown); from that time:
   1. We may require the authority or the signatures of all of you for any further transactions on the account, including withdrawals, any standing order or direct debit payments and closure, and
   2. Interest will be credited to the account when it is paid by us, overriding any earlier instructions we may have received.
6. If one of you dies:
   1. i. The survivor(s) should tell us of the death and provide us with proof of death;
   2. ii. We will then change the account so that it can be operated by the survivor(s)
   3. iii. The survivor(s) own(s) the account and only the survivor(s) is/are able to operate it.
7. Further information about joint accounts can be found in the leaflet 'you and your joint account' available on request.

6. Interest Rate Changes

1. We may change the rate of interest to be paid on your account at any time where we reasonably believe the change is to your advantage or is needed for any one or more of the following reasons (which may relate to circumstances at the time or which we reasonably expect to apply in the near future):
   1. to take account of, in a proportionate manner, any change in the costs reasonably incurred by us in managing our investment business and, in particular, providing and administering our investment accounts;
   2. to take account of, in a proportionate manner, changes in the law or the interpretation of the law, decisions or recommendations of an ombudsman, regulator or similar person, or any code of practice applicable to the conduct of our business;
   3. to take account of, in a proportionate manner, changes in the Bank of England base rate or changes in interest rates paid by our competitors in the consumer savings industry;
   4. to enable us to harmonise, in a reasonable manner, the interest rates being paid to our investors following any acquisition or transfer of deposit or savings accounts or any takeover of, or merger with, another savings provider;
   5. to enable us to maintain the competitiveness of interest rates paid by our borrowers while having regard to the interests of our investors or the providers of funds to us and our business as a whole;
   6. to enable us to manage our business (and its growth) prudently.
2. We will tell you about the change in interest rates within 30 days of the change by e-mail.

7. Changes to these Terms

1. We can change these Online Saver terms (other than the rate of interest and charges, which can be changed under terms 6 and 10 respectively) at any time. Changes may include the removal of or any amendment to the terms or the inclusion of new terms and may be made if we reasonably believe that the change is needed for any one or more of the following reasons (which may relate to circumstances existing at the time or which we reasonably expect to apply in the near future):
   1. to take account of changes in our products or services we provide or the way we provide them;
   2. to enable us to operate and administer your account more efficiently (which includes improving our efficiency such as by taking in to account developments in technology);
   3. to give extra benefit to savers (including making the terms of accounts easier for you to understand);
   4. to correct mistakes if it is reasonable to do so;
   5. to take account of changes in general building society and banking practice if it is reasonable to do so;
   6. to take account of, in a proportionate manner, changes in the law or the interpretation of the law, decisions or recommendations of an ombudsman, regulator or similar person, or any code of practice applicable to the conduct of our business;
   7. if you agree;
   8. if the change is to your advantage;
   9. to enable us to manage our business (and its growth) prudently.
2. We will notify you of any such changes (other than in respect of interest rates or charges) as follows
   1. Where we wish to make a change that is to your disadvantage we will tell you about it at least 30 days before we make the change by email. You may switch your account or close it within 60 days of the date of such a notice without giving notice or paying any additional charges or additional interest for doing so;
   2. Where we wish to make any other change, we may make the change immediately and tell you about it within 30 days by email.
3. If there have been significant changes in any one year, we will give or send you a copy of the new terms or a summary of the changes.

8. Interest of Other Persons

We do not have to recognise the interest or claim of any person other than the account holder in respect of money held in the account, nor will we be liable in any way for failing to recognise such interest or claim, except as required by law.

9. Right to Close the Account

1. Subject to clause 4 and the product terms of your account you can close the account at any time without giving any reason and without notice or charge.
2. We can repay to you any part of your savings at any time and without giving any reason. Under normal circumstances we will give you at least 30 days' notice and will not use this right solely to repay a fixed term investment before the end of the fixed term. If there are exceptional circumstances, for example, fraud or other unlawful activity or threatening or abusive behaviour or you have breached any ISA regulations, we may close your account immediately, whether or not the account is for a fixed term.

10. Charges

1. We may make charges for opening and administering your account and for services provided in connection with it and deduct those charges from the balance in your account. We will tell you about a charge, which affects a particular product or service, before we provide you with the product or service, before you use it or at any other time you ask. All details about our charges are on our website.
2. We can change the charges we make and introduce new charges at any time if it is to your advantage (for example to reduce or remove a charge) or if we reasonably believe that this is necessary for any one or more of the following reasons (which may relate to circumstances existing at the time or which we reasonably expect to apply in the near future):
   1. to take account of, in a proportionate manner, changes in the expenses we reasonably incur(including our reasonable management and administrative costs) in respect of the particular product or service provided to you;
   2. to take account of, in a proportionate manner, changes in technology or general practice in the consumer savings industry;
   3. to take account of, in a proportionate manner, changes we may reasonably make in the products and services we provide or the activities we carry out;
      iv. to take account of, in a proportionate manner, changes in the law or the interpretation of the law, decisions or recommendations of an ombudsman, regulator or similar person, or any code of practice applicable to the conduct of our business;
   4. to enable us to harmonise, in a reasonable manner, the charges being paid by our savers following any acquisition or transfer of deposit or savings accounts or any take over of, or merger with, another savings provider;
   5. to take account of, in a proportionate manner, inflation;
   6. to correct mistakes if it is reasonable to do so;
   7. to enable us to manage our business (and its growth) prudently.
3. Where we introduce new charges, or increase existing charges for any of the reasons mentioned in 10 b), we will tell you about the charge (unless it relates to a non-standard charge which we will tell you about on request) not less than 30 days before it takes effect by email.
4. A change that abolishes a charge or reduces the amount of an existing charge may be introduced with immediate effect and without notice.

11. Unclaimed Balances

If you cannot be traced after a reasonable enquiry, and either:

1. For a period of 3 years you have made no payment to or withdrawal from your account and the amount in that account is less than £100, or
2. For a period of 5 years you have made no payment to or withdrawal from your account;
   We may decide to close that account and the money in it will be retained by us. If, however, you contact us at a later date we will either open a new account for you and credit that account with the amount of money in the closed account or repay the money to you, with interest, at a rate we reasonably consider to be appropriate.

12. Our Rights Over Your Money

We may use the money in any account you have with us to pay any money you owe us (whether under a loan, guarantee or otherwise) which is due for payment but which has not been paid. We will tell you if we do this. No interest will be earned on any money used in this way.

13. Service of Notices

1. As we will advise you of changes to the Online Saver interest rate and terms by e-mail, it is very important that you notify us if your e-mail address changes. We will assume that you have received any personal notification by e-mail 24 hours after sending it to you. If you do not receive the notification, this will not make it invalid.
2. If you wish to change details that we hold, for example your name, address, e-mail address or the account to which withdrawals are made, we will require such changes to be notified in writing.

14. Statements

We will not send statements to you. You will be able to access your account online and view statements at any time, which will include details of interest paid.

15. Interest

Interest is calculated on a daily basis starting on the second working day following the day of receipt for cheques and on the day of receipt for cash and up to, but not including, the day of withdrawal. Cheques paid in on a non-working day are treated as received on the next working day (working days exclude Saturdays, Sundays and Bank Holidays). In the case of a cheque drawn on a bank with an address outside the UK interest will start on the day the cleared funds are credited to your account.

16. Tax

1. If you are entitled to receive interest without tax deducted you should read the following R85 help sheet and then proceed to fill in HM Revenue & Customs registration form R85 and send it to us. We will then be able to pay your interest gross.
2. All savers should declare interest earned when making a tax return. It is your responsibility, not ours, to make this declaration.

17. Recording of Telephone Conversations

All communications with us may be monitored/recorded to improve the quality of our service and for your protection and security.

18. Death of Sole Account Holder

If the Online Saver account is in a sole name and the account holder dies, once we receive formal written notification of the death the administration of the account will be dealt with in writing in order that it may be operated by the personal representatives of the account holder.

19. Governing Law

These terms are governed by the laws of the country in the United Kingdom (i.e. England and Wales, Scotland or Northern Ireland) where you opened the account.