Bath Building Society IntroducerBond Account terms and conditions
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Introducer Bond Account - terms and conditions

Introducer Bond 2 Account
Terms & Conditions
This should be read along with our “Share & Deposit Account General Terms & Conditions”, and our tariff of charges for non-core services, before applying to open an account. You should read this document carefully to ensure you understand what you are buying and keep it safe for future reference.

General
The account is open to the clients of the Society’s recognised Investment Introducers.
Accounts opened on behalf of individuals will be share accounts. Accounts opened on behalf of Corporate bodies will be deposit accounts.
The Society reserves the right to withdraw this account at any time, without notice, although there are currently no plans to withdraw this product.
English Law applies and the Society will communicate in English in all matters relating to this account.

Joint Accounts
There may be up to 4 joint account holders.

Only the first named joint account holder will have voting rights so consider carefully the order in which you place the names of joint account holders. Written notices, statements and other information will be sent to the first named joint account holder only.

If one of the joint account holders dies we will accept instructions from the other joint account holders who may close the account without the loss of any interest.

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If the Society is put on notice that the relationship between joint signatories to an account has broken down, we will require all signatories to sign any future instructions related to that account.

The conditions of the account will apply to all the joint account holders and they may be liable both individually or as a group.

Account Limits
Minimum investment of £20,000.
Maximum investment £300,000 for a Share Investment.
Maximum investment for a deposit account by negotiation.

Withdrawals
Funds are available on request and without penalty
Signed withdrawal requests must be posted to the Society’s Head Office for processing together with the account passbook. Alternatively, the Society will accept email instructions for withdrawal requests from your nominated email address only.
Transfer of funds will take place by BACS direct to the account holder’s designated bank account, on day of receipt of request.

Interest and Income Tax
Interest will be calculated daily and capitalised annually on the 31st December, or if the monthly option taken, interest will be capitalised on the last day of each month.
Where required by legislation, interest will be credited after deduction of income tax at the appropriate rate specified by law. Subject to the appropriate declaration it is possible for the Society to pay interest gross with no tax deducted. Applicants should discuss eligibility with their tax office and obtain the declaration form.

How to Open an Account
If you are opening an account as an individual we will need a fully completed share account application form and an initial deposit of at least £20,000.

You will also need to provide your Financial Advisor with two original forms of identification to prove name and verification of address when opening an account. Copies of these will be passed on to the Society.
Application forms will need to be signed by all account holders.

If you are opening an account on behalf of a Corporate body, then we will need a fully completed deposit account application form and an initial deposit of at least £20,000.

In addition, we will also need a copy of the Certificate of Incorporation, together with a copy (on headed note paper) of the Board’s resolution to open a deposit account with Bath Building Society, advising who the signatories will be and the number required to operate the account.
The Bath Building Society Introducer Bond


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