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Pyramid Max

Terms and Conditions relating specifically to the Pyramid Max Savings Account

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.

You must put in at least £1 to open a Pyramid Max account.

You can add to this at any time, up to a maximum of £250,000.  Please make cheques payable to yourself not Leek United Building Society.

Any accounts opened after 25 May 2018 can only be operated in the sole name of a child aged 13 years or above.

You must be 9 -19 years old to open an account.

You can withdraw part or all of your savings at any time without losing any of the interest you have earned (depending on the withdrawal limits of the branch or agency where you make your withdrawal).

When you become 20, we will contact you and advise you of the options available and how you can transfer your account.

If no instructions are received we will automatically transfer the funds to a new Easy Access Pyramid Share account.  The passbook for the account will be available once acceptable identification has been provided.

Interest rates can vary.

Interest is calculated on a daily basis and is credited on the 1st January each year.

Interest can be added to your account, transferred to a different Leek United account or transferred to a bank account.

Proof of the minor's identity must be provided - please see our 'Proving Your Identity' web page for acceptable idenitification.

Once you have opened your Leek United Pyramid Max account, a letter will be sent to you enclosing your passbook.  Two working days after the date of that letter, you will have 14 days to notify us that you wish to change your mind and the account will be closed with no loss of interest to you.  

Tax assumptions are those currently applicable and are subject to statutory change.

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

If you wish to make a regular payment into your Leek United savings account, once it has been opened, why not do this by setting up a standing order - it's quick and easy to do.

To open a Pyramid Max savings account, please complete and return a savings application form to:

Savings Department

Leek United Building Society

50 St Edward Street

Leek

Staffordshire

ST13 5DL

Together with proof of identity – for details of what is required, please see our ‘Proving Your Identity’ web page.