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Member Regular Saver Issue 2

7.50% gross pa/AER fixed for 12 months
(Annual Interest)

Ready to apply?

This account might be right for you if:

  • you're an existing Skipton member who joined on or before 31/05/23
  • you’d like to save up to £250 per calendar month to build up a lump sum
  • you don’t need to withdraw from the account but want to be able to close the account if you really need to

Summary Box

Account name Member Regular Saver Issue 2
What is the interest rate?
Annual Interest

7.50% gross pa/AER

  • This account earns interest daily. If you choose annual interest, it’s added to the account the day before the anniversary of account opening.
  • If you ask us to pay interest to a different account, we’ll pay it on the first working day after the day we’d have added it to this account. Working days exclude Saturday, Sunday and bank holidays.
Monthly Interest: No monthly interest option available.
Can Skipton Building Society change the interest rate?

The interest rate is fixed for the term of the account.
What would the estimated balance be after 12 months based on a £250 deposit each month? The estimated balance at the end of the fixed term would be £3,121 based on the following assumptions:
  • the account is opened with £250 on 1st of the month and interest starts being earned straight away
  • £250 is paid in on the first day of each subsequent month by standing order
  • no withdrawals are made
  • the interest is paid annually and added to the account.
Estimated balances are for illustrative purposes only and may be less for accounts opened by debit card or cheque.
How do I open and manage my account?
  • This account is only available to UK residents aged 16 or over, that hold a continuous membership with Skipton Building Society (a Savings Share account or a Mortgage) starting on or before 31/05/2023 with a minimum balance of £1.
  • The account can be opened and managed online, over the phone, by post or in branch.
  • For each means of managing your account you wish to use, you’ll be required to set up appropriate security and access measures.
  • To open and operate the account a valid email address must be provided.
  • The minimum balance is £1 and there is no minimum monthly subscription.
  • You can save up to £250 per calendar month. Any unused monthly allowances not utilised can be rolled over to future months, up to a maximum of £3,000 over the 12-month term.
  • Joint accounts are not allowed.
  • You can only hold one Member Regular Saver Issue 2 account (either Member Regular Saver or Member Branch Regular Saver) in your name at any one time.
Can I withdraw money?
  • You can’t withdraw part of your account balance, however, you can close your account at any time and withdraw the full balance online, in branch, by post or over the phone.
  • At the end of the 12-month fixed-rate term, which is also known as ‘maturity’, your account will automatically transfer into a new variable rate easy access account, unless you tell us otherwise.
  • We’ll contact you before maturity and you can find out more about the maturity process in condition 8 overleaf.
Additional information
  • The AER shows what the interest rate would be if interest was paid and added each year.
  • We pay all savings interest gross, which means no tax is deducted. It’s your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.
  • Accounts can be withdrawn from sale at any time and without notice.

Frequently asked questions

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How can I tell if I'm an Existing Member?

You can apply for a Member Regular Saver account if you're an existing member who has held continuous membership since 31 May 2023 or before.

If you have a personal savings account or mortgage with us, it means you’re a member of the Society, as long as you keep a minimum balance of £1.

If you operate an account on someone else’s behalf, for example, as an attorney or personal representative, you are not the member – membership stays with the customer named on the account.

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How do I set up a standing order from one Skipton savings account to another?

If your account allows regular withdrawals, the easiest way to set up a standing order is to use our web chat service using the pink chat button at the bottom of the screen.

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Can I withdraw from my regular saver account?

You can’t withdraw part of your account balance during the 12-month term; however, you can close your account at any time and withdraw the full balance.

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Can I close my account early?

You can close your account at any time.

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How can I pay into the account?

If you want to send money from a UK bank or building society, please use the following banking details:

  • Account holder name: Your full name
  • Sort code: 20-78-91
  • Account number: 70798924
  • Reference: Your 9-digit Skipton account number

Important Information

We use Barclays for our banking services. So, when you are receiving or sending payments, the transaction may show up on your records as Barclays.

When setting up Skipton Building Society as a new payee, you may be asked by your provider what type of payee you would like to set up. Please select ‘business’ or ‘large business’ and remember to add your account number as the reference.

You can find other ways to pay in on our Paying in page.

Before you apply

It is important that you read the terms and conditions documents carefully. These contain the details of your agreement with us for these accounts and we will rely on them for our relationship with you.

We’ll set up your Skipton Online access as part of your secure online application, if you haven’t already registered.

Ready to apply?

Annual Interest

7.50% gross pa/AER fixed for 12 months
(Annual Interest)

Apply online (Annual Interest)

Other ways to apply

You need to have an active email address to open this account. If you don't have one, speak to us over the phone or in branch to find an account that's right for you.

Branch

If you'd like to open your account in branch, please contact your local branch to arrange an appointment. Branch finder.

Phone

You can apply for this account over the phone. Call us on 0345 608 0783.

Post

Return your application form and cheque to:

Customer Delivery
Skipton Building Society
Principal Office
The Bailey
Skipton
North Yorkshire
BD23 1DN

General investment account application form [PDF]

Proving your identity

We may require identification to open the account. If you're 18 or over and on the electoral roll for your current address we may be able to verify your identification electronically, to do this please call us on 0345 608 0783 and we'll let you know straight away if you've passed our checks.

If we can't verify your identity electronically, or if you're under 18, you'll need to provide us with proof of ID as set out in our Proving your identity document [PDF].

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We always listen to you

If you are not satisfied with our services we have an internal complaints procedure. For more information please call us on 0345 608 0783, ask in branch or visit our Complaints page.

The Financial Ombudsman Service provides a free and independent service for consumers, and can be contacted at The Financial Ombudsman Service, Exchange Tower, London E14 9SR. Telephone: 0800 023 4567.

www.financial-ombudsman.org.uk

You're protected up to £85,000

Your eligible deposits with Skipton Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.

Learn more about the FSCS

FSCS - Protecting Your Money

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To help maintain service and quality, some telephone calls may be recorded and monitored.

Site intended for UK residents only. Skipton Building Society is a member of the Building Societies Association. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number 153706, for accepting deposits, advising on and arranging mortgages and providing Restricted financial advice.
Principal Office, The Bailey, Skipton, North Yorkshire, BD23 1DN.

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