Easy Access Tracker Trust Account (Issue 2): 3.11% AER

Yes.

If the Bank of England base rate changes, the new interest rate on your account will apply no more than 14 business days following the change. You will be able to view your new rate in Oxbury Online Banking and the Oxbury App.

Oxbury can also make changes to the Margin added or subtracted to the Bank of England base rate to determine the account’s AER. Where your balances is over £100 any reduction in Margin will be communicated to you by providing at least 14 days’ notice. Where we increase the Margin or decrease it when you have a balance below £100, we’ll usually make the change immediately and notify you as soon as possible. Our Deposits Terms and Conditions set out the circumstances when we may change the rate.

The above example shows the estimated balance after 12 months on a deposit of £50,000 and is for illustrative purposes only, it does not take account of your individual circumstances and assumes that:

• The account is opened with the amount stated and interest starts being earned straight away
• No further deposits or any withdrawals are made
• The accrued interest is credited to your Easy Access Tracker Trust Account (Issue 2) monthly
• Bank of England base rate is 3.75% and does not take into consideration any fluctuations in it

To be eligible for this account your Trust will need to:

• Be a UK trust, such as a will trust, simple trust, life interest trust, discretionary trust or a small self-administered scheme (SSAS) pension
• Be established and hold assets only in the UK
• Have trustees aged 18 or over
• Have beneficiaries named in the trust deed
• Have a UK current bank account in the name of the Trust; this will be the account you use to make payments in and out of this Trust Account and known as your ‘Linked Account’
• Have no persons with non UK residency or tax residency, even though they may also hold UK tax residency status
• Be registered with HMRC’s Trust Registration Service or with HMRC as a pension with a PSTR number

To open this account you will need to:

• Complete the Trust Account Application Form and Trust Account Bank Mandate, signed by all trustees
• Provide certified copies of the Trust Deed(s)/Will
• Provide proof of registration with HMRC’s Trust Registration Service, dated within the last 3 months or provide an exemption reason from your professional advisor
• Send above documents to trustsavings@oxbury.com
• Agree to this Product Summary and our Deposits General Terms and Conditions
• Make your initial deposit within 14 days of opening the account; if the minimum deposit balance of £50,000 is not met during this period, your account will automatically close, and any funds deposited returned to you

If you change your mind within 14 days of opening your account and wish to close it, we will return any money you have paid into your Oxbury account back to you and then close it.

To manage your account:

• Trustees nominated as signatories within the Trust Account Bank Mandate can send instructions to us using Oxbury Online Banking or the Oxbury App. We cannot accept instructions that are not in accordance with the Trust Account Bank Mandate or via any other communication method unless in exceptional circumstances
• You must have a smart phone or tablet, running a version of iOS for iPhones and Android operating system for Android devices that meets the minimum running requirements for the Oxbury App, which may change from time to time; the current requirements are available in the FAQ section of our website
• You will need 2 devices to register for Oxbury Online Banking and the Oxbury App, a smart phone or tablet and a separate device running an internet browser
• Access to Oxbury Online Banking and the Oxbury App is restricted in certain countries, see the FAQ page on our website for additional information
• The maximum amount that can be held in the account is £10,000,000. We will allow balances to exceed the maximum amount where it is a result of interest paid into your account. We will, however, return other deposits that take your account over its maximum limit
• You must notify the bank of any new or retiring trustees or named beneficiaries

• YES. You can close your account and / or withdraw up to the full balance of your account subject to our cut-off times:
  • You will be able to close your account, make a withdrawal to your Linked Account or transfer to another of your Oxbury Accounts, provided your instruction is received before 1.00pm on a Working Day and passes our payment validation requirements
  • Any instructions received after the cut-off time will be processed on the next Working Day

• You will receive your money into your Linked Account by the end of the Working Day your instruction was processed
• You cannot cancel an instruction on the day it is due to be processed

AER stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded once each year.

Accounts can be withdrawn from sale at any time and without notice.

We pay all savings interest gross, which means no tax is deducted.

If you have any questions visit our website at www.oxbury.com or email savings@oxbury.com
We are open Monday to Friday 9:00am – 5:30pm, except bank holidays.