Newbury Building Society

 

Here are the facts...

What is your Gift service?

If you are getting married, christening a child or have a special birthday coming up, your friends and family may be thinking about buying a gift. However, you may prefer to receive a monetary gift because, for example, you are saving to buy a new home, want to put a bit by for your child's future or have your eye on a new car.

The Gift service enables you to receive monetary gifts instead of or in addition to having a traditional gift list.

How does it work?

The process is simple!

• You open an account with us with a nominal investment (which could be as little as £1). The account could be any of our current range. We will give you a passbook, which you keep.
• We give you a supply of notelets to send to your friends and family with your wedding, christening or party invitation. The notelets will explain to your guests how to deposit their monetary gift into your account.
  When we receive a gift, we will give your guest a receipt inside a gift card, which they will give to you with their greetings card
• After your celebration, bring your passbook into the branch and we will update it with the money you have been given. You can check the entries against the receipts your guests have given you.

You are then free to withdraw the money to spend or carry on saving to reach your particular goal.

Is it for you?

Consider our Gift service if you would like friends and family to give you monetary gifts instead of making a traditional bridal, christening or party gift list.

You need to open a savings account from one of our range of tax-free, instant access, regular savings or notice accounts, so you need to consider the individual benefits of each of these before making your choice.

You can open an account either in your own name or as a joint account with someone else as long as you live within our savings accounts operating area. To see if you live within this area please click here.

What access can you have to your money?

This depends on the account you open. We have a range of instant access and notice accounts.

Are there any other terms and conditions you need to be aware of?

If you set up the Gift service for your wedding, you need to remember that to change your name on your account after you are married, you will need to provide your marriage certificate. We will take a copy of the original but we must see an original document.

You should read our handy guide Savings explained, which contains general terms and conditions relating to saving and investing with Newbury Building Society.

Are there any charges for the Gift service?

There are no charges for the Gift service itself. There are charges for one-off services you may require relating to your account, for example if you need a duplicate savings statement or make a withdrawal by CHAPS (Clearing House Automated Payments System). Please click here for details.