Banking
Terms

Account description

This is a description of the account type so for example fixed rate or easy access savings.

Account holder(s)

This is the name of the person or persons nominated to an account.

Annual Equivalent Rate (AER)

This shows you what the earnings would be on your account if the interest earned was reinvested in to the account each year.

Data Protection Act (DPA)

The DPA gives individuals certain rights regarding information held about them. It places obligations on those who process information (data controllers) while giving rights to those who are the subject of that data (the customer).

Easy access account

An account that allows you to make a withdrawal at any time, without having to give notice.

Financial Services Compensation Scheme (FSCS)

This protects your investment if a building society becomes unable to repay it. Nottingham Building Society is a participant in this scheme, which is part of the Financial Services Act. We are a participant of the Financial Services Compensation Scheme that was established under the Financial Services... Read More

Fixed rate account

The interest rate on your savings account remains the same until a specific date.

Gross interest

Interest is paid on your savings without any deductions for income tax.

How do I know what interest rate I am getting?

You can see your interest rate on the account summary page and if you select a particular account it will be displayed in the top left section of the page.

Individual Savings Account (ISA)

An account that pays interest on your savings tax-free, i.e. free of UK income and capital gains tax.

Last updated: 17/01/2019 at 11:31

Essential Maintenance


9.30pm Saturday 19th January to 6am Sunday 20th January Due to essential maintenance access to your Beehive Money account will be unavailable from 9.30pm Saturday January 19th to 6am Sunday January 20th. 

We apologise for any inconvenience this may cause

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