Kent Reliance Building Society - Fixed Rate Mortgages, Self Build, Shared Ownership Mortgages from UK.

Paying money in

With any of the Society’s savings accounts you are able to add to your savings as and when you like, up to a maximum balance of £1 million, or up to £3,600 in any tax year in a Cash ISA. You cannot add to bonds (but you can open additional bonds, subject to availability).

By BACS

If you want to pay money in by BACS just supply your bank, employer or pension provider with the following bank details in order for them to send the funds direct to us.

a) Sort code: 62-24-97.

b) Account details: this will be the numerical element of your account reference with a zero added in front of the number to make it eight digits long for example DSA5515588KRB would become 05515588.

c) Reference: if a reference is required please quote your whole account number, which includes the prefix and the first three letters of your surname for example DSA5515588KRB.

d) Amount to be transferred.

(Please allow three clear working days for this process to be completed)

Via post to Head Office

Simply post a cheque (but not cash) made payable in your name, together with your passbook* to Head Office at Reliance House, Sun Pier, Chatham,
Kent ME4 4ET. The transaction will be recorded in your passbook which will be returned to you. If you do not enclose your book, please make sure you write your account number on the reverse of your cheque.

* Not applicable for statement based accounts

Via the branch and agency network

Take your passbook and deposit (cash or cheque) to our branch or designated agent. The transaction will be recorded in your passbook and the balance updated.

If you pay by cheque which is subsequently returned unpaid by the bank it is drawn on, we will debit your account with the amount of your cheque. We will inform you in writing and if applicable, request your passbook in order for it to be amended. We will return the cheque to you on request.

* Statement based accounts can only be opened and operated by post through our Head Office. We do not offer a counter facility at Head Office.

By standing order

You can have a regular payment made directly into your account by standing order – just ask at our branch or agencies or phone our Head Office for a standing order form to give to your bank/employer/pension provider.

Paying money in by CHAPS

Please call us on 08451 22 11 22* for further details.

Clearing cycle

The central clearing cycle for cheques and automated payments is normally three working days. However, Kent Reliance asks you to allow six clear working days for cheques before you can draw against them.

Taking money out

Via post to Head Office - You can write to Head Office requesting a withdrawal of cleared* funds by cheque or BACS subject to the terms of your account. Please make sure that you quote your account number and include your passbook if appropriate.

Please note that cash will not be sent through the post and we do not offer a counter facility.

Via the branch and agency network - Withdrawal of cleared* funds are subject to the terms of your account. You can normally withdraw £500 in cash or £50,000 by cheque in any one day from our branch or any of our agencies. A few days notice is required for cash withdrawals in excess of £500 to a maximum of £2,500.

* You must allow six clear working days for clearance on all cheques paid in before withdrawal can be made against them.

Earning interest on your account

The interest earned is paid annually on 5 April and, depending on the particular account, is normally added to the balance of the account.

Interest is normally paid net of tax having been deducted at 20%. However:

	Interest on ISAs is paid in full with no tax deducted.
	Non taxpayers who are ordinarily resident in the UK can arrange to have their interest paid gross by completing a form R85 available from our branch and agency network by calling our Head Office on 08451 22 11 22* or by downloading one from our website.
	If you need to check whether you are eligible to have your interest without tax deducted call HM Revenue and Customs helpline on 08459 800 645.

Except for fixed rate accounts, interest rates can vary. Current rates of interest are set out on the interest rates sheet available at our branch or any of our agencies and on this website. When they change we'll also let you know by advertising in local papers (Kent Messenger Group, AKN Group and Gravesend reporter) or by writing to you if you have a variable rate product and live outside the Kent postcode areas.

Keeping up to date:

Kent Reliance savers will receive a passbook (written balance confirmation for a statement based account or a bond certificate) on opening the account. Our Branch will normally be able to give you your passbook straight away. If you use one of our agency offices, or apply by post, you'll receive your passbook or confirmation letter in the post within a few days. Bond certificates are posted to you within 14 days of receiving your application form and investment.

You should keep your passbook, confirmation letter or bond certificate safe. For passbook based accounts all withdrawals require a passbook. If you make regular payments into your account by standing order, you'll need to take your passbook into your nearest Kent Reliance branch/agent or post it to our Head Office from time to time to have it updated.

If you lose your passbook or it is stolen, you must let us know immediately to prevent further withdrawals and have the balance transferred to a new account number.

Your annual statement

If you have a passbook based account or a bond* you will receive a statement in April of each year to show the interest earned for the tax year and the balance at that date. If you have a statement based account you will also receive an annual statement in April showing the balance at that date.

Statement based accounts will also receive quarterly statements in January, July and October (if there have been any transactions on the account during the previous quarter).

*For a one year fixed rate ISA interest is payable on maturity.

*For a one year fixed rate bond interest is paid on maturity, unless the monthly income option is selected.

Charges for services

Our day to day services are free, but there are some exceptional items for which we have to make a charge to cover the costs of administration or pass on charges made to us. These charges may vary from time to time but are currently:

Telegraphic transfer (CHAPS) £25
Duplicate investment statement £10

Income tax

Where required by legislation, interest will be paid or credited after deduction of income tax at the appropriate rate. Subject to the required certification, interest may be paid gross. Where the tax deduction exceeds your tax liability (if any), you may make a claim for repayment of tax to HM Revenue and Customs.

In order to determine whether there is any liability for tax at the higher rate, the amount of interest actually paid or credited to the account must be included in your annual income tax return. Provided that you operate any ISA in accordance with HM Customs and Revenue rules, interest on ISA accounts is exempt from income tax and need not be included in your annual income tax return.

The receipt of interest may affect the special tax relief available to investors aged 65 and over. We are required each year to supply to HM Revenue and Customs particulars of certain interest paid or credited to investors.

Dormant accounts

Where there has been no transaction on a savings account (withdrawals or deposits) other than those initiated by the Society for a period of three years or more, and we have not heard from you during this time, we may close the account and place the balance in the Society's holding account.

However, if you or a person legally empowered to do so writes to us at Head Office, the account can be re-opened with all monies and interest accrued
re-credited. Please note that you we will need to confirm your identity and address through our electronic verification process.

We are a member of the Building Societies Associations Dormant Account Scheme.

*Calls to 08451 numbers from BT landlines will cost no more than 5p per minute, the price of calls from other telephone companies may vary. For customer service and training purposes calls to Kent Reliance may be monitored and/or recorded.