Plus Account

• Save regularly, straight from your pay, every pay day or by standing order from your bank
• Savings in the Plus Account earn a dividend 0.5% higher* than regular savings
• Save from just £2 a week or £10 a month
• Flexible saving – change the amount you save at any time
• Manage your Plus Account online

*Dividends are not guaranteed. The rate payable is dependent on financial performance and voted on by members at the Annual General Meeting.

• The Plus Account is for regular saving – no lump sum deposit payments are permitted
• 2 withdrawals per year permitted, to encourage longer term saving
• Exclusive to Penny Post members, the Plus Account runs alongside a member’s Regular Savings Account, and does not replace it.
• Like all Penny Post saving accounts, members’ money is protected by the Financial Services Compensation Scheme (FSCS) currently to the value of £85,000. For more information visit the FSCS website.

• Open to members with a Regular Shares account.
• Members must continue to save at least £2 weekly or £10 monthly in their Regular Shares account whilst saving in a Plus Account.
• Attracts an Annual Dividend 0.5% higher than the Regular Shares account.
• Regular saving deposits only – lump sum deposit payments are not permitted.
• Maximum savings limits apply – £115 weekly or £500 monthly.
• 2 withdrawals are permitted annually – the Plus account runs from 1st October to 30th September each year.
• If more than 2 withdrawals are required in a year, the Plus Account will be closed and any entitlement to dividend will be lost. The Plus Account can be re-opened the following year.
• Savings in the Plus Account cannot be used as security against a loan.
• The total balance in all your Penny Post saving accounts cannot exceed £50,000.
• Other terms and conditions may apply.