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Online Saver (1)

The Online Saver is ideal if you are looking for a variable interest rate account which is opened and operated exclusively online. 

The Online Saver key features are:

  • Account opened and operated via our Online Service 
  • Saver from £100 to £250,000
  • Minimum withdrawal £100
  • Maximum withdrawal of £25,000 per day, per account 
  • Variable interest rate
  • Interest paid annually on 31 January and added to the account 
  • Add to your account by debit card, by transfer from your bank account and by transfer from another account with us
  • Easy access to your savings without notice or an access charged paid by transfer to your bank account or by transfer to another account with us
  • View balance, transaction history and interest payment details online
  • Personalise your accounts with nicknames 

* To send additional savings directly from your bank account the banking details you’ll need can be found on the back of your new account Certificate. After you have registered, we will send you a verification code. For security reasons, this is sent by post. You need this code for your first login, and you will only be able to add to your account by debit card once you have logged in and entered your verification code.

The information provided below is a summary of the key features of the account and is not intended to be a substitute for reading the Product Features leaflet and General Conditions for our Savings Accounts booklet. 

Summary box

Account name

ONLINE SAVER (1)

What is the interest rate?

Rate effective from 26 September 2018 
 Gross AER1
 £100+  1.26%
  • Interest rates are dependent on balance amount
  • Interest is calculated daily and paid annually on 31 January

Can the Family Building Society change the interest rate?

Yes, the interest rate is variable and may be changed. Please refer to Section 14 of the General Conditions for our Savings Accounts booklet for more information on when we may make changes to the interest rate and how this will be communicated.

What would the estimated balance be after 12 months?

 Opening balance  Projected balance (Gross) 
 £1,000  £1,012.60
  • These projections assume that the account is opened with the stated amount with no additions or withdrawals made. Projected balance is at the end of 12 months
  • All projections are provided for illustrative purposes only and do not take into account individual circumstances
  • Actual interest may depend on the date the account is opened and the date that interest is paid 

How do I open and manage my account?

  • The Online Saver can be applied for online
  • A minimum of £100 must be deposited
  • Additions are allowed but not required on a regular basis
  • Additions to the account can be made by debit card, by transfer from your bank account and by transfer from another savings account with us
  • A maximum of £250,000 may be held in the account
  • Instructions for the account can be made via the Online Service

Can I withdraw money?

  • Withdrawals are available via the Online Service only, without notice or an access charge, and can be made by transfer to your bank account or by transfer to another savings account with us
  • Minimum withdrawal is £100
  • Maximum withdrawal of £25,000 per day per account 

Please see the 'Taking money out' section of the Product Features leaflet for full information.

Additional information

Tax status: Interest is paid gross without deduction of income tax. You will need to declare any income from savings interest earned over your PSA2  through a self-assessment tax return to HM Revenue & Customs. Interest is paid annually on 31 January and available from the following day.

 

This issue may be withdrawn at any time without prior notice.

1AER stands for Annual Equivalent Rate and illustrates what the annual rate would be if interest was compounded.

2PSA stands for Personal Savings Allowance. 

All financial information correct on 26 September 2018.

You can apply online only                                             

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03330 140 141
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Operating an account on behalf of someone else

This account is available for operation by Third Parties, Attorneys and Deputies. For information on how to set up any of these on your accounts please refer to our FAQs page where all the information you should need can be found.

If you have already set up Power of Attorney, a Deputy or Third Party and wish to open this account, please also refer to our FAQs page where you can find details of the forms we require.

If you have any further account opening queries please contact our New Business Team on 03330 140141.

Use of a debit card to deposit savings 

Please note that the debit card you use to deposit money via the Online Service should be registered to the address we hold for you.

Debit card transactions are subject to approval by your bank and may be declined if you do not have sufficient funds available in your bank account or the transaction exceeds your bank's anti-fraud limits.

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Family Building Society
Ebbisham House
30 Church Street
Epsom
Surrey KT17 4NL
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