Easy Access Deposit

This product may be withdrawn at any time.

Gross means the contractual rate of interest payable. AER stands for the annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
notice for withdrawals
Some of our accounts require you to give notice before you can withdraw money from your account. Further details on the withdrawal restrictions that apply to the account can be found in the section titled - 'Can I withdraw money?' - in the Summary box.
no notice
age restriction
Minimum or maximum age you must be to open this account.

Your savings account

Designed for clubs, charities and associations. Our Easy Access Deposit account gives you unlimited access to your savings, subject to daily withdrawal limits.

Key features

  • Avaliable for clubs, charities and associations
  • No notice needed for withdrawals
  • You can operate your account in any of our branches or through the post.

Summary box

Account name

Easy Access Deposit

What is the interest rate?

The variable rate below applies from 1 June 2020.

  • £100 plus - 0.05% 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.

Can Tipton & Coseley Building Society change the interest rate?

We can change our interest rates at any time. For more information regarding this please see section 7 of our Terms and Conditions for Savings Accounts.

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 0.05% gross / AER (variable) would be £1,000.50.

This estimation is an illustration only and assumes:

  • the account is opened on 1 January;
  • there are no additional deposits;
  • there are no withdrawal transactions;
  • there are no interest rate changes; and
  • interest is paid gross on 31 December.
How do I open and manage my account?

Our Easy Access Deposit account is only available to clubs, charities and associations. You must open the account in the name of the organisation and we will need proof of identification for both the organisation and any signatories linked to the account. The minimum opening balance is £100.

For opening deposits made by electronic payments, you must send your initial deposit within 10 working days, or the account will be automatically closed.

You can operate your account through the post or in any of our branches. Additional deposits into your Easy Access Deposit account can be made by cash, cheque or standing order. The minimum operating amount is £100 and the maximum overall holding is £500,000. When you're ready to open your account simply download and complete an application form.

Can I withdraw money?

Subject to our daily withdrawal limits, withdrawals from your Easy Access Deposit account can be made without notice or charge.

Daily withdrawal limits are:

  • £500 by cash; and
  • £20,000 by cheque.

Withdrawals above these limits require two days notice, and are subject to a £2,500 maximum cash withdrawal limit each day. The minimum amount for a cheque withdrawal is £10.

Additional information

Interest will be paid without tax deducted.

You have 14 days to change your mind, where we will close the account and arrange for your money to be deposited into a more suitable savings account with us, or return it to you.

Gayle, from our savings team is happy to help 0121 557 2551* Contact Us
Our lines are open:
Monday - Tuesday09:00 - 17:00
Wednesday09:30 - 17:00
Thursday - Friday09:00 - 17:00
Saturday09:00 - 12:00
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

We can help you to...

  • Open a new account
  • Answer any questions
  • Discuss your savings options
  • With your existing account

We can help

If you're ready to open an account you can download and complete an application form.

Please post your completed form to The Tipton & Coseley Building Society, 70 Owen Street, Tipton, West Midlands, DY4 8HG, and remember to include a cheque payable to yourself.

Alternatively, you can open an account at any of our branches.

Please also read our Terms and Conditions for Savings Accounts leaflet and the Deposit Guarantee Scheme Information Sheet before sending us your completed application.

As a new savings customer you must sign any future windfall rights to our Charitable Foundation.

Our savings customers say...

"Whenever I visit Tipton & Coseley I'm dealt with quickly, on a one to one basis making each visit convenient and ideal." Mrs Cooke
Savings customer read more

Our savings customers say...

"The staff are really friendly and welcoming and always ask how I am, I feel like I can have a chat with them" Mrs Thomson
Savings customer read more