Easy Access Pyramid Share Account

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Key Product Information
Terms and Conditions

Enjoy easy access to your everyday savings whenever you need it. You can also pay Direct Debits from this account.

Please note: If there are insufficient funds to pay a Direct Debit, it may incur a penalty charge. See our Savings Fees and Charges leaflet for full details.

Summary Box - Key Product Information
Account Name	Easy Access Pyramid Share Account
What is the interest rate?	Annual Interest £1+ £500+ £5,000+ £10,000+ £25,000+	0.10% Gross/AER* 0.10% Gross/AER* 0.10% Gross/AER* 0.10% Gross/AER* 0.10% Gross/AER* Interest is calculated daily and paid annually on 1 January.
What is the interest rate?	Monthly interest £5,000+ £10,000+ £25,000+	0.10% Gross/AER* 0.10% Gross/AER* 0.10% Gross/AER* Interest is calculated daily and paid monthly on the first of the month.
Can Leek United Building Society change the interest rates?	The interest rate on this account is variable. Leek United Building Society has the right to change interest rates in certain circumstances. Please see the Society's Statement of Practice Investors leaflet which provides further information on these circumstances.
What would the estimated balance be after 12 months based on a £1,000 deposit?	Based on a deposit of £1,000 the estimated balance after 12 months is £1,001.00. This projection assumes that the amount of £1,000 is deposited in the account at the time it is opened and that no further deposits or withdrawals are made for the full interest period. This projection is provided for illustration purposes only.
How do I open and manage my account?	The account can be opened in person at one of our branches or by post. The account must be opened with a minimum deposit of at least £1. A maximum of £250,000 can be held in the account. Available to UK residents only.
Can I withdraw money?	Withdrawals can be made subject to standard branch withdrawal limits. Withdrawals will not be allowed without the passbook.
Additional information	If your balance is above £5,000 you can request your interest is paid monthly.

The above rates are applicable from 16 April 2020.

* Gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).

** AER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded once each year.

In some circumstances, customers will be required to pay tax on interest earned. Please contact HM Revenue & Customs for further information or view their website.

The tax information provided is based on our understanding of current law and HM Revenue & Customs practice, both of which may change.

These terms and conditions below must be read in conjunction with our Statement of Practice Investors leaflet, which details generic terms and conditions relating to all of our savings accounts along with the terms and conditions of issue insert for this account.
Faster Payments can be made from your account which are subject to a limit. Incoming Faster payments can also be made to the account.
Your initial investment must be at least £1. You can add to this up to a maximum of £250,000.
Interest rates can vary.
If your balance is above £5,000 you can have interest paid monthly.
Interest is calculated on a daily basis and paid on 1 January each year or monthly on the 1st of each month.
Interest may be added to the account, transferred to another Leek United Building Society account or paid direct to your bank account.
You can pay direct debits without penalty from your account. If there are insufficient funds to pay direct debits a charge will be levied. See our Savings Fees and Charges leaflet.
Once you have opened your Easy Access Pyramid Share Account, you have 14 calendar days after the account has opened to notify us that you wish to change your mind. If you notify us within this time, we will help you transfer to another of our accounts or (assuming we have received cleared funds) give you back your money together with any interest it has earned. We will ignore any notice period and any charges which would usually apply.
Tax assumptions are those currently applicable and are subject to statutory change.

For details relating to the Financial Services Compensation Scheme please click here.

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In Branch

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By Post

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To apply for this account in branch, get in touch and book an appointment with us.

Due to Coronavirus and the health & safety of our members and colleagues being our top priority, we have temporarily suspended our face to face, in-branch appointments. However, you can still speak to us and book a face to face video call or telephone appointment to apply for this account.

We may ask you to provide ID to confirm your name and address. To assist you, we try to verify this electronically. If we are unable to, we would require your paper documentation instead. For a full list of what documents are acceptable, please read our Proving your identity leaflet by clicking here.

You will also need to bring a cheque or cash for at least the minimum investment to open the account.

Find My Local Branch

To open this account by post, please follow these simple steps:

For your own benefit and protection, please read all the account terms and conditions carefully, then download and print the application form below:

>Savings Account application form

Please read the important information below before you open your account:
>FSCS Sheet
>Statement of Practice Investors
>Savings Fees and Charges

Complete your savings application form and post it, along with your cheque deposit (made payable to the account holder) to:

Savings Department, 50 St. Edward Street, Leek Staffordshire, ST13 5DL

Customer Service Centre
50 St. Edward Street, Leek, Staffordshire ST13 5DL
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Leek United Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Registered No: 100014