Your Questions Answered

23rd March 2012

A communication was recently issued to a number of our customers with a Current Account or Current Account Mortgage. This detailed changes to the way we apply fees and the Terms and Conditions of your account. Attached is a list of questions and answers which may assist with any queries you have.

Why have I got a letter and Notice of Variation regarding my account?

The letter is advising you of changes we will be making to way certain fees are applied to your account and updates to the Terms and Conditions on your account.

All customers holding these accounts will receive personal notification of the change via statement letter during March and April. This pre-notification complies with our Terms and Conditions and all relevant legislation.

When do these changes take place?

The changes will take place on 1st July 2012.

What changes are you making to the Terms and Conditions of my account?

You will be able to find details of the changes to the Terms and Conditions within the letter which was posted along with your statement.

Where can I obtain a full copy of the new Terms and Conditions relating to my account?

Copies of your new full Terms and Conditions can be downloaded from our website. Copies will be available from 23rd March 2012.

Please click here to view.

Alternatively, you will be able to obtain a copy from your branch or Relationship Manager or you can call us on 0800 345 7365.

What changes are you making to how fees are paid from my account?

We are changing the way in which we collect the fees from your account. Rather than take the payment immediately or at the end of the month, we will accrue charges during the calendar month. We will then send you a summary of the fees you have incurred at the end of each month and give at least 14 days’ notice before any fees due are applied to your account. This will give you more time to take account of your monthly charges and plan accordingly.

Are you changing the amount of fees/charges I pay on my account?

No – we are not making any changes to the amount of fees/charges applicable to your account.

What is a Planned Borrowing facility?

Planned Borrowing is one which you have arranged with us in advance.

What is an Unplanned Borrowing facility?

Unplanned Borrowing is when we agree to your request to make a payment from your account when:

• you do not have enough money in your account and have not agreed a Planned Borrowing arrangement with us; or
• the payment takes you over the limit of your formal Planned Borrowing arrangement.

How can I reduce the charges I am paying on my account?

All Unplanned Borrowing costs can easily be avoided by being aware of your account balance and any payments you have committed to make. Customers can access their balance within a few seconds, 24 hours a day, online or over the phone.

How can you ensure my Planned Borrowing facility is right for me?

We will continually monitor your account to ensure that your Planned Borrowing facility matches your requirements.

If we need to review your Planned Borrowing facility we will contact you directly. We will not amend your Planned Borrowing limit without giving you appropriate notice or discussing the changes with you.

Alternatively, you can contact us at any time if you would like to review your current Planned Borrowing facility, or you are having some difficulty managing your finances. By working together, we can ensure you're getting the best possible value from both your account and your relationship with us.

I am having difficulty managing my accounts and do not seem to be making any difference to the amount I am in debt, how can you help?

We will be happy to review your current finances. By working together, we can ensure you're getting the best possible value from both your account and your relationship with us.

Are your charges still not too high?

All Unplanned Borrowing costs can easily be avoided by being aware of your account balance and any payments you have committed to make. Where Unplanned Borrowing does occur due to a lack of funds to meet these commitments, the cost is dependent on individual circumstances.

Change in name;
Current Account Plus Offset to Current Account Plus

What is changing?

Other than the product name there are no other changes.

The way in which you operate your account on a daily basis, the account fees, rates of interest and charges applicable remain unchanged.

Will my account number, direct debits, cheque book and cards or overdraft limit be affected by the change?

• You will retain the same sort code and account number
• Existing Direct Debits and standing order arrangements will continue
• You can continue to use your existing cheque book(s) and debit card(s)
• If you have an overdraft limit, this will be unaffected by these changes.
• If your account is linked to an Offset Mortgage Account, evidenced by your monthly offset statement, then this will remain in place.

What do I need to do?

If you are happy to accept these changes, you do not need to do anything.  If you do not want to accept these changes, you should contact us before July 1st. You may close your account without charge before that date but you would have to repay borrowing as well as any fees an interest owed on the account.