Interest is calculated daily and added to the account annually on the 30th April.
Interest rates are variable and may be amended at any time. We will give you one week’s prior written notice by post of any proposed change in our interest rates. They will also be posted on our website at www.swansea-bs.co.uk or you may telephone our Investment Department on 01792 739100. Details of savings interest rates are available in our Savings Accounts and Rates leaflet.
To open an account you must be resident in Wales. Simply call at one of our branches or complete an application form and post it to us together with a cheque made payable to ‘Swansea Building Society a/c (your name)’. Minimum investment is £500.00. Maximum investment is £400,000. You will need to provide some identification when you open your account and details of our requirements can be obtained from your local branch or on our website. Deposits can be made by cheque, electronic bank transfer, transfer from another account held with the Society (subject to the Terms and Conditions of that account) or cash (cash deposits are limited to £3,000 per day).
You can withdraw money from your account at any time without notice or penalty by visiting us at a branch or sending us your written instructions. Account holders with an account balance below £5,000 will receive a passbook for the account which must be presented when monies are withdrawn from the account. Minimum withdrawal is £1 (or less if closing). A cheque book is available for account holders with an account balance of £5,000 or more. The minimum amount which can be withdrawn by cheque is £100.
For General Terms and Conditions applicable to this account see “General Terms and Conditions for the operation of Savings Accounts" available via the link below or from our branches.
You can download any of our application forms or related documentation here. If you need any help with completing one please give us a ring on 01792 739100 where one of our team will be happy to help you.