My Money Saver (0-10)
My Money Saver (for ages 0-10 inclusive)
1.00% Gross* / AER**
Interest is added to the account annually on 1 December.
Can the Society change the interest rate?
The interest rate is variable, which means we reserve the right to change them to reflect market conditions, to comply with legal or regulatory guidelines and to protect the long-term future of the Society.
We will give you 14 days’ notice before any change that would disadvantage you, provided you had a balance of £100 at the time of writing. For full details please read our General Investment Terms and Conditions.
What would the estimated balance be after 12 months based on a £1,000 deposit?
Based on the current rate of interest, if you deposited £1,000.00 into this account, after 12 months you would have £1,010.00.
(This figure is only an estimate, based on there being no additional deposits or withdrawals in that time with all interest being added to your account. This figure is for illustrative purposes only and does not take into account your individual circumstances.)
How do I open and manage my account?
To open this account:
To open an account, you must complete the Children’s Account application form. You can visit any of our branches with your opening investment of cash or cheque or apply by post by sending the application form with an opening cheque. You will be asked to provide proof of identity. This is to reduce the risk of fraud and is in line with anti-money laundering legislation. Acceptable forms of identification are detailed in our ‘Verifying your name and address’ leaflet. Alternatively, our staff will give you full details.
If you change your mind:
How do I manage my account:
Can I withdraw money?
• Yes, this is an instant access savings account so the authorised signatory can get access to the money.
What happens when the child reaches 11?
This represents the Terms and Conditions for My Money Saver and should be read in conjunction with the General Investment Terms & Conditions and our Customer Information booklet.
Open your savings
If you’re ready to open your savings account by post you’ll need to do the following:
- Download, read and accept the terms and conditions
- Be an existing member or a new applicant resident in our local postcode areas IP, NR, CO, CM, CB and PE
- Read and retain the Financial Services Compensation Scheme (FSCS) information sheet
- Print and fully complete application form
We will require proof of your identity to open a new account if you are a new customer. For existing members we may request identification, for example if your records with us are incomplete.
Completed application forms should be posted to Suffolk Building Society, Freehold House, 6-8 The Havens, Ransomes Europark, Ipswich, Suffolk IP3 9SJ.
My Money Saver – Terms and ConditionsDownload
Proof of your identityDownload
Customer Savings Information FAQsDownload
General investment terms & conditionsDownload
Standing order formDownload
FSCS Information SheetDownload
Savings tariff of chargesDownload
Guidance for people wanting to manage a bank account for someone elseDownload
INV178 Childrens Savings Account Application FormDownload