Instant Access (Issue 1)

Yes, we have the right to vary the rate of interest. If we decrease the interest rate, we will notify you 14 days in advance of the change.

Please refer to Condition 7 of our General Terms and Conditions for Business Deposit Savings Accounts (also available in our branches) which sets out the reasons for which we may change the rate and the procedure for doing so.

The estimated balance after 12 months based on an initial deposit of £10,000 would be £10,155.00.

This projection is provided as an example only and doesn’t take into account your individual circumstances. We have worked this out assuming a £10,000 deposit is made on account opening and no further deposits or withdrawals are made throughout the year.

This product is available to UK-based Trusts including: Will Trusts, Charitable Trusts, Personal Injury Trusts, Simple/Bare Trusts, Interest in Possession Trusts and Discretionary Trusts. We do not accept offshore Trusts. All beneficiaries should be named on the Trust Deed.

You can only hold one account of this type. This account can only be opened in branch, via post or by completing an online application form which is available on each product page on our website. All applications will require a supporting Trust Deed or Will.

Minimum balance: £10,000
Maximum account balance: £1,000,000

Deposits must be made by cheque or electronic payment.

Please note that you must fund the account with the minimum balance of £10,000 within 30 days of account opening, otherwise your application may be cancelled.

This Trust savings account is opened on a non-advised ‘execution only’ basis, where no advice or assessments have been given or implied to its suitability.

You can manage this account by post, in branch or online (subject to the terms and conditions of Harpenden Online).

Please note if more than one signature is required to transact on this account, you will need to operate this account via post or branch, not via Harpenden Online.

Trustee and Beneficiaries will be subject to identification requirements. Please follow the guidance in our ‘Identification Requirements’ document available in branch and online.

You cannot withdraw money or close your account within the first 180 days after the account is opened. Following the initial 180 day period, withdrawals can be made by electronic transfer or cheque to your nominated account which must be in the same name as the Trust, Trustee or Beneficiary.

Withdrawals can be requested using Harpenden Online which allows a maximum £50,000 via faster payment into a nominated bank account per day (above that amount via CHAPS, which will incur a fee). Payment requests must be submitted by 3.00pm. Requests received after this time will be processed the following working day.

You will not be permitted to reduce the balance in your account to less than the minimum balance, unless you are closing the account. There is no access to cash with this account.

The Society reserves the right to withdraw this product without notice at any time.

All interest on UK trust savings accounts will be paid without the deduction of tax.