To apply for an account you must follow the three steps below.
Before you open an account, you should make sure that you have read the general terms & conditions below:
- Introduction
These general terms and conditions (general terms) apply to your account(s) in addition to any specific product terms and conditions (product terms). Where a general term conflicts with a product term, the product term only will apply.
- Deposits
Deposits may only be made in Guernsey, either by delivery in person, by post, BACS (Bankers Automated Clearing System) or telegraphic transfer. Deposits received before 11.00am on a working day will be banked on that day or, if received on a non-working day, on the next working day.
- Change of Name/Address
You must notify us in writing (or by telephone or fax, provided that we have received your completed (Communication Indemnity Form) immediately of any change of name or residential or correspondence address and provide evidence of the change.
- Acceptance of Deposits
Without giving any reason, we may refuse to accept a deposit from you.
- Clearance of Funds
All deposits must be made in sterling (but see Foreign Currencies below). For cheque deposits, withdrawals cannot be made against the sum deposited until the cheque has cleared. We do not accept responsibility for delays in the transfer of funds to us.
- Foreign Currencies
In certain cases, we may agree to accept deposits and allow withdrawals in currencies other than sterling, in which case we will use the rate of exchange ruling on the day of the transaction. Any exchange or other risk arising as a result of converting that currency into sterling or vice-versa will be your responsibility. If this paragraph applies, all references in these general terms and in any product terms to amounts in sterling will be treated as references to the equivalent amounts in the relevant currency.
Yorkshire Guernsey has no control over our agents’ or your agents’ fees.
- Interest Calculation
Interest is calculated on a daily basis, commencing three working days from the day of receipt for a cheque and from the day of receipt for telegraphic transfers received before 11.00am on a working day, or if received on a non-working day, from the next working day and up to, but not including, the day of withdrawal.
In the case of a cheque drawn on a bank having its registered office outside the UK and Channel Islands and which does not have a correspondent UK clearing bank, interest will commence from the day we receive the cleared funds.
- Interest - Credit
Interest is credited to the account in accordance with the individual product terms and conditions.
Interest is paid gross or net depending on your tax domicile or status. It is your responsibility to advise the appropriate tax authorities of any interest received.
- Interest Rate Changes and Charges
We can change any rate of interest at any time. We will tell you about the changes by writing to you, emailing you or by placing an advertisement showing the effective date of the change in two UK national daily newspapers of our choice (usually the Daily Telegraph and the Daily Express). Rates will also be published on our website or you can call us and select the option for current interest rates.
We may make charges for services relating to the operation of your account and deduct those charges from the balance in your account. We can change our charges at any time, including abolishing or amending existing charges or introducing new ones. Where we introduce new charges or increase existing ones we will tell you about the change (unless it relates to a non-standard charge which we will tell you about on request) at least 30 days before it takes effect by any means of communication that we may use for notifying you of other changes to the terms of your account.
- Changes to Terms
We can change the terms on which your account is held (other than the rate of interest and charges) at any time including removing terms and adding new ones. This may be done if we believe that the change is needed for any of the following reasons (which relate to existing circumstances or those expected to apply in the near future):
- to enable us to operate and administer accounts more efficiently (which includes improving our efficiency).
- to make the terms easier to understand.
- to correct mistakes.
- to reflect practices and conditions in the banking and building society sector.
- to take account of developments in technology.
- to take account of a Court decision or a ruling by a regulator, ombudsman or similar authority as we interpret it.
- to reflect changes in laws, codes of practice or other forms of regulation to which we or Yorkshire Building Society is, or may be subject.
We may also change these general terms and any product terms for any other valid reason where we believe the change is appropriate.
We will notify you of any such changes before they come into effect by writing to you or by advertising the changes in two UK national daily newspapers of our choice (usually the Daily Telegraph and the Daily Express). If there have been any significant changes in any one year, we will send you a copy of the new terms and a summary of the changes will be made available on our website.
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Joint Accounts and Authorisation
Joint account holders must agree when they open the account who is authorised to operate the account and to make withdrawals and who may therefore withdraw the entire balance of the account.
On opening an account, joint holders may choose the order in which they are named in our records; otherwise we will decide the order in which they are named. We will treat the first named holder as the representative of the other joint holders for the purpose of receiving all communications from us.
Any liability of joint account holders to us will be joint and several; this means that joint account holders are liable to us not only together but also as separate individuals for the full amount which is due to us.
We will treat all joint holders as being entitled to all money in the account (even in the event of a breakdown of the relationship between joint account holders being formally advised to us in writing). We will not recognise or be concerned as to any division of ownership of the money between the account holders and/or other persons (unless we are specifically required to do so by law).
On the death of any joint holder, the account will vest in the survivor(s). The surviving account holder(s) must notify us in order that the account may be operated in their name(s). We will require proof of death.
- Claims of Other Persons
We do not have to recognise the interest or claim of any person, other than the account holder(s) in respect of money held in any account, nor shall we be liable in any way for failing to recognise such interest claim, except as required by law.
- Our Right to Close Your Account
We may repay to you all or part of your deposit at any time, without giving any reason, after giving you at least one month's written notice. However, we can close your account immediately if we believe that you have been involved in fraudulent or serious criminal behaviour or that the relationship between you and us has irretrievably broken down.
- Transaction Advice
We will provide you with a statement or other record after each transaction on your account.
- Unauthorised Withdrawals
Neither we nor any of our officers, agents or employees will be responsible for any unauthorised withdrawal from an account except where previous notice of the loss of any statement, withdrawal form or other account record has been given to us.
- Receipt of Communications
We will assume that you have received any letter, notice or other document sent to you by post, addressed to you at your last notified address, 72 hours after posting to the UK and the Channel Islands and 144 hours to other countries.
- Transfer of Deposit
We reserve the right, without giving you prior notice, to transfer your deposit to another subsidiary of Yorkshire Building Society operating from Guernsey or, upon giving notice, to any other third party offering similar facilities, provided that the terms of the deposit in all essential respects remain unchanged.
- Confidentiality
We will maintain and preserve our duty of confidentiality in relation to your financial affairs in accordance with Guernsey law and acceptable international banking practice.
We will comply with the Data Protection (Bailiwick of Guernsey) Law 2001 when obtaining and processing your personal data (please contact us for a copy of our publication 'Your Rights and the Data Protection (Bailiwick of Guernsey) Law 2001').
- Complaints
We have an internal complaints procedure to handle any complaint you may have about our services. You should write or telephone in the first instance to our principal place of business in Guernsey.
- Applicable Law
The relationship between us will be governed by the laws of the Island of Guernsey and we and you agree to submit any claim or dispute to the exclusive jurisdiction of the Courts of the Island of Guernsey. In particular, no action for repayment of the amount deposited or for interest may be brought against us in any Court within the United Kingdom or in any other jurisdiction where we are established or carry on business or have a branch or agency.
All contracts will be conducted in the English language.
You also need to read the specific product terms of the account that you wish to apply for. You can request a factsheet and application form by:
