Falcon Treasurer's

Falcon Treasurer's is a simple savings account developed for the needs of charities, trusts, clubs or associations, where the withdrawal function requires a minimum of two signatories for security and accounting purposes. It has no minimum deposit requirements and can still be opened with £1.

Deposits and withdrawals

You can invest and withdraw from this account at any time to suit your requirements. When you make a deposit, the current rate of interest is applied immediately, so your group's balance grows from day one. The account's tiered levels offer the incentive of a better interest rate at £500, £5,000, £10,000 and £50,000. Ask for a copy of our interest rates to see the rates currently applicable. Rates are variable on this account and can go down as well as up.

Withdrawals can be made by the nominated individuals designated to sign on this account either at a branch or by post. Counter transactions provide cash and cheques but postal requests can provide cheques only.

No notice of withdrawal is required subject to the terms and conditions of the account.

How to open your Treasurers Account

Accounts can be opened at any Society branch or by post.

We will require evidence of the group/company/ charity/association's existence which may be via a letterhead, group minutes, Certificate of Incorporation etc. Please speak with either our Customer Service Team or your local branch with regard to what is acceptable for your particular group. The account also requires two signatories and we will carry out electronic verification of the nominated individuals identity and address. If this search proves unsuccessful, you will be asked to provide documentary evidence, such as a passport or photo driving licence. Details of the types of documents we are able to accept as evidence can be found in the Customer Guide leaflet, available at branch offices and also on our web site.

If you are an existing Society member, you may still be asked to provide identification as shown above, if the details we hold regarding your accounts are not recent.

All request for identification conform to regulations which protect you and guard against fraudulent transactions on your account.

When will my account show the interest?

Interest is paid to Treasurer's accounts on 31st December each year. This payment can be credited directly to the account or paid into another Society account. Current interest rates will be supplied to you on request and are on display at all branch offices and on the website.

Terms and conditions of the account.

Investments: Each account is subject to an initial minimum investment of £1 and additional sums of any amount may be invested at any time up to the Society's maximum of £1,000,000.

Cooling Off Period: If, after careful consideration, you decide that you are not happy with your choice of savings or investment account(s) and you bring this to our attention within 14 days of your initial receipt, we will help you to either switch accounts or return your money with any interest earned over that period*. We will ignore any notice periods and additional charges in these cases.

*Please note: Cheques paid in within the 14 day period will have to clear before a refund can be given.

Withdrawals: These are payable on demand up to £500 in cash or up to the account balance by cheque to be made payable immediately at any Branch Office. For larger amounts, prior notice may be required.

Interest: This is variable and calculated on a daily basis, including the day of receipt but excluding the day of withdrawal and paid on 31st December each year. Interest will be added directly to the account or transferred to another account with the Society.

Additional Interest: As Falcon Treasurer's has tiered interest rates, additional interest becomes payable when account balance reaches £500, £5000 and £10,000 and £50,000 respectively. Conversely, when an account balance falls below these levels the rates payable will be reduced accordingly.

Interest Rates: We reserve the right to amend interest rates at our discretion using one or more of the following methods:

a. Advertisements in the Yorkshire Post and Derbyshire Times Newspapers.
b. Notice in Branch Offices.
c. Individual notification to investors.
d. Internet via Society web site.

Amendments: We reserve the right to amend Terms and Conditions of issue at our discretion. Should the change be to your disadvantage, we will tell you about it personally at least 30 days before we make the change.

September 2006