You can withdraw money from the majority of our savings accounts. However, this is not possible on all accounts. Fixed Rate Bonds, Fixed Rate ISAs and our Junior Cash ISA all restrict you from withdrawing funds until an agreed date.
Take a look at the account terms and conditions to find out whether a withdrawal is possible on the chosen account.
If your savings account is instant access, you will be able to withdraw money whenever you like.
If your savings account has a fixed term, you won't be able to withdraw funds until the account has matured, for example, our Fixed Rate Bonds, Fixed Rate ISAs, Junior Cash ISA and Flexible Saver. We sometimes allow the discretion for early withdrawals in exceptional circumstances, but it is best to check the individual savings account terms and conditions if you are unsure.
To understand a savings account you need to think of it as a place to store your money over a long period of time. As you save money into the account, we also add to it by paying interest on the amount held in the account. The more money you save, the more interest you earn.
The amount of interest you receive is determined by the rate offered on your savings account, which can be found on your account terms and conditions.
No, not by direct debit. However, it is possible to make regular payments into some of our savings accounts by standing order.
You can use your internet banking facility to make payments direct to your account. Please make these to the account of Leek United Building Society at HSBC Bank plc by quoting the following:
||Leek United Building Society
||Your own 11 digit Leek United account number (found on the first page of your passbook).
Please note that your Leek United account number must be quoted as the reference in order for the payment to reach your account and the reference must not include any other numbers or characters.
If you don't have internet banking, you can print and complete a Standing Order Mandate, then send it to your bank.
As a general rule, you can hold more one savings account with Leek United.
However, in some circumstances there may be certain restrictions. For example, you can have multiple ISAs, but you can open only one cash ISA in each tax year. Another example is if a specific type of savings account is restricted to one per customer. You’ll need to check the terms and conditions of the account.
In respect of deposits, a depositor who is eligible is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The limit relates to the combined amount in all the eligible depositor's accounts with the building society, including their share of any joint account, and not to each separate account.
Large companies and small local authorities are also covered by FSCS for compensation up to the limit of £85,000.
Please see our; Financial Services Compensation Scheme Information Sheet and Exclusions List which summarises details of the Scheme.
This depends on the account you have opened:
- Cash ISA - You can deposit up to £20,000 per year.
- Junior Cash ISA - You can deposit £9,000 per year.
Check the terms of your specific account to find out the full details of any limits on what you can save.