Account name
Junior Wolves Saver
When you're ready to open your account simply download and complete an application form, then send it to us with a cheque payable to yourself.
What is the interest rate?
The variable rate below applies from 19 August 2023.
- £10 plus - 4.00% gross / AER
Interest is calculated daily and paid each year on 31 December.
When you're ready to open your account simply download and complete an application form, then send it to us with a cheque payable to yourself.
Can Tipton & Coseley Building Society change the interest rate?
We may increase of decrease the interest rate at any time. Further details can be found in our Savings Terms and Conditions, available on our website, in branch or in your welcome pack.
When you're ready to open your account simply download and complete an application form, then send it to us with a cheque payable to yourself.
What would the estimated balance be after 12 months based on a £1,000 deposit?
The balance after 12 months on an initial deposit of £1,000 with an interest rate of 4.00% gross / AER (variable) would be £1,040.00.
This estimation is an illustration only and assumes:
- the account is opened on 1 January;
- there are no additional deposits or withdrawals made;
- interest is paid back into the account;
- there is no change to the interest rate; and
- interest is paid gross on 31 December.
When you're ready to open your account simply download and complete an application form, then send it to us with a cheque payable to yourself.
How do I open and manage my account?
Our Junior Wolves Saver account is available for those aged below 16 years. The minimum opening deposit is £10 and the maximum amount that can be deposited is £25,000.
When you turn 16, and subject to the relevant minimum balance requirements being met, we'll automatically switch your account to our Wolves Saver account.
New accounts can only be opened with a single named child as beneficiary and you're only able to have one Junior Wolves Saver account open at a time.
You can open an account at any of our branches, no appointments are needed. You can also open an account by sending your application form along with your initial cheque deposit through the post.
For opening deposits made by electronic payments, you must send your initial deposit within 14 days, or the account will be automatically closed.
To open a Junior Wolves account we'll need proof of identity. We have access to credit reference agency databases which in the majority of cases allows us to prove identity and address without the need for paper-based identification. However, we don't carry out these searches against customers aged under 18. Please click here to see our list of acceptable identification.
If you are opening this account in trust we'll need to satisfy identification requirements for both the trustee and the beneficiary.
You must keep at least £10 in the account. Withdrawals taking the balance below £10 are only allowed on closure.
You can pay into your account at one of our branches, by setting up a standing order or posting us a cheque. Cheque deposits must be made payable either to the child or the Trustee(s) re the child.
When you're ready to open your account simply download and complete an application form, then send it to us with a cheque payable to yourself.
Can I withdraw money?
You can make six withdrawals each calendar year without notice. After your sixth withdrawal, you will not be able to make any more until the following calendar year, this includes account closure.
Our daily withdrawal limits are:
- £500 by cash; and
- £20,000 by cheque.
Higher amounts require two days notice, subject to £2,500 maximum cash per day. The minimum amount for a cheque withdrawal is £10.
When you're ready to open your account simply download and complete an application form, then send it to us with a cheque payable to yourself.
Additional information
Interest will be paid gross (without tax deducted).
You have 14 days to change your mind, if you decide your Junior Wolves Saver account isn't right for you. We will arrange to close the account and help you find a more suitable savings account with us or return your money to you.
Interest rates explained:
- Gross means the contractual rate of interest payable.
- AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Issued date: 19 August 2023.
When you're ready to open your account simply download and complete an application form, then send it to us with a cheque payable to yourself.
