How much can be saved?

The minimum balance required to open a Business Style Account is £2,000. If the amount falls below this figure, interest will only be paid at the Corporate Deposit rate applicable at the time.

This account can only be opened by a Limited Company.

How is interest paid?

This account offers a variable rate of interest. Interest is calculated on a daily basis and credited to your account annually on or about 31st December.

The interest rates are tiered. As you move through the tiers you will automatically earn the higher rate of interest on all of your savings.

In most instances interest will be paid net of tax. To find out whether your organisation is eligible to receive gross interest please speak with your local tax office. If your organisation is eligible to receive gross interest you will need to complete the relevant declaration which is available from your branch.

Paying money in

Money can be added to your account by any of the following methods:

• Cash up to £3,000 per day over the counter (we are not able to accept coins).
• Cheques
• Direct transfer by Standing Order, BACS or CHAPS (for further details please ask your branch)
  

Our Freepost address is:

Harpenden Building Society, FREEPOST SB165, Harpenden, AL5 4BR.

Cheques should be made payable to the name of the account rather than Harpenden Building Society. If you do choose to make a cheque payable to the Harpenden Building Society you should also include the name of the account into which the money is being paid (e.g. Harpenden Building Society - ABC Limited).

If you are paying cheques into your account they will take six working days to clear from the day after receipt. Interest is earned from the day after receipt.

Taking money out

Withdrawals are subject to 30 days notice or if instant access is required a 30 day interest penalty will apply.

The minimum withdrawal for this account is £500.

Withdrawals can be made in the following way:

• Cash - up to £250 in cash per day over the counter.
• Cheque - a maximum of £10,000 by cheque per day. If you would like a cheque for a larger amount, please let us know in advance as special arrangements may need to be made.
  
• BACS (see tariff of charges)
• CHAPS (see tariff of charges)

Opening an account

To open an account we need the following:

• A cheque for a minimum of £2,000

• A completed application form, which can be obtained by contacting your local branch
• An acceptable form of business identification
  
• Proof of identity for each account signatory, if you do not already hold a savings account or mortgage with us