1. About the offer
1.1 The Christmas Club Bonus Saver is a limited promotional
savings offer provided by Wessex Community Bank.
1.2 The offer allows eligible members to receive an annual
bonus on qualifying Christmas Club savings.
1.3 We may withdraw the offer from new applications at any
time and without prior notice.
1.4 Withdrawal of the offer from new applications will not
normally affect a member who has already been accepted for
the current Christmas Club year, provided they continue to
meet these terms.
1.5 The offer is made for the current Christmas Club year
only. There is no guarantee that it will be renewed or
offered on the same terms in future years.
2. Eligibility
2.1 You must be aged 18 or over and eligible to hold an
account with Wessex Community Bank.
2.2 The offer is not available to anyone who:
- has overdue payments or arrears with us;
- has an unpaid or written-off debt with us;
- has an unauthorised overdrawn balance with us; or
-
is otherwise recorded as a debtor to Wessex Community Bank.
2.3 Having a loan that is being repaid in accordance with its
agreed terms will not, by itself, make you ineligible.
2.4 You must remain eligible until the bonus is paid. We may
withhold the bonus if you have overdue debts, arrears or an
unauthorised overdrawn balance at the payout date.
3. Monthly savings
3.1 You may save between £5 and £100 in each calendar month.
3.2 The bonus applies only to the first £60 paid into the
account in each calendar month.
3.3 Any amount paid in above £60 during a calendar month will
be added to your savings but will not earn a bonus.
3.4 The £60 monthly limit applies to the total of all payments
made during that calendar month, regardless of the number of
individual payments.
3.5 Savings are calculated from your selected starting month
through to October, including any qualifying payment made in
October.
3.6 Where saving starts in November or December, the savings
period will run through to October of the following year.
4. Bonus rates
4.1 The standard promotional bonus rate for this account is
3.95% AER.
4.2 An enhanced promotional bonus rate of
5.95% AER is available where a valid
promotional code issued by Wessex Community Bank is entered
when using the online savings calculator or applying for the
account.
4.3 Promotional codes are issued solely at the discretion of
Wessex Community Bank and may be withdrawn, amended or expire
at any time.
4.4 The enhanced promotional rate will only apply where a
valid promotional code is accepted. If an invalid, expired
or incorrect code is entered, the standard promotional bonus
rate will apply.
4.5 Wessex Community Bank reserves the right to refuse,
withdraw or remove the enhanced promotional rate where a
promotional code has been used incorrectly, fraudulently or
contrary to these terms and conditions.
4.6 Both the standard and enhanced promotional rates apply
only to the first £60 saved in each calendar month. Any
amount above £60 earns a bonus rate of 0%.
5. How the bonus is calculated
5.1 The payment is a promotional savings bonus and not a
conventional interest payment.
5.2 The advertised AER shows the annual equivalent value of
the bonus and allows the return to be compared with other
savings products.
5.3 The bonus is calculated only on qualifying savings of up
to £60 paid in during each calendar month.
5.4 The calculation takes account of when payments are received
and how long the qualifying money is held in the account. It is
not calculated by applying the annual rate to the full final
balance for the entire year.
5.5 Money paid in above the £60 monthly qualifying limit
receives a bonus rate of 0%.
5.6 Amounts withdrawn before the payout date will only qualify
for a bonus for the period during which they were held in the
account.
5.7 The bonus will normally be added to the account on
1 November or, where this is not a working day, as soon as
reasonably practicable afterwards.
5.8 The account must remain open and eligible at the payout
date for the bonus to be paid.
6. Changes and withdrawal of the offer
6.1 We may stop accepting new applications at any time and
without prior notice.
6.2 We may amend or end the offer where reasonably necessary
because of:
- a change in law or regulation;
- a requirement imposed by a regulator;
- fraud, misuse or abuse of the offer;
-
a material error in the published terms or calculation; or
- circumstances outside our reasonable control.
6.3 Where reasonably possible, we will give affected members
advance notice of a material change.
6.4 We will not reduce a bonus already earned by an eligible
member merely because the offer is subsequently withdrawn from
new applicants.
6.5 We are not required to renew the offer after the current
Christmas Club year.
7. Savings calculator
7.1 Any savings calculator provided by us is for illustration
only.
7.2 Calculator results are estimates and may differ from the
actual payout because of:
- the date on which each payment is received;
- missed, delayed or additional payments;
- withdrawals;
- whether a valid promotional code applies to the account;
- rounding; or
- changes permitted under these terms.
7.3 The calculator does not create a guarantee, warranty or
separate entitlement to the amount displayed.
7.4 If the calculator conflicts with these terms or our account
records, these terms and our account records will apply,
subject to your legal rights.
8. Our liability
8.1 We are not responsible for losses caused by incorrect
information entered into the calculator, circumstances outside
our reasonable control or a member's failure to meet these
terms.
8.2 We will not be liable for indirect or unforeseeable losses
arising from participation in the offer.
8.3 Nothing in these terms excludes or limits liability where
it would be unlawful to do so, including liability for fraud,
fraudulent misrepresentation or any regulatory or statutory
duty that cannot legally be excluded.
9. Other terms
9.1 Your savings remain subject to our general membership and
savings account terms and conditions.
9.2 If there is a conflict between these promotional terms and
our general account terms, these promotional terms will apply
only in relation to the Christmas Club bonus.
9.3 We may refuse or remove participation where we reasonably
believe the offer has been misused or eligibility information
is inaccurate.
9.4 These terms are governed by the law of England and Wales.
9.5 Complaints will be dealt with under our complaints
procedure. Eligible complainants may subsequently refer an
unresolved complaint to the Financial Ombudsman Service.
