Why are you reducing my rate?
We’ve taken the decision to review all savings rates, so they are in line with the current Bank of England base rate and all our customers receive a fair market rate for the type of account they hold.
Why are you changing my terms?
We’re updating your Product Terms and Conditions so it’s clearer how much notice we’ll give you when we make a change to your account, including how your withdrawal terms are affected.
Are you going to change interest rates on other savings products?
We’ve tried to keep the interest rates unchanged for as long as possible. Market conditions are now dictating that a review of all savings rates is necessary. We will only make changes that provide the best long term outcome for our members and the Society.
Can I withdraw funds or close my account before the change takes effect?
Yes, you can withdraw funds or close your account without notice or penalty until the date specified in your letter.
How do I withdraw funds or close my account using the Online Service, without giving notice ?
Please log in and send us a secure message so we can waive your notice period and if you’re closing your account, we’ll calculate your final interest. We’ll then send the funds to your nominated bank account.
I’ve already given notice to withdraw funds or close my account. Am I now able to access these funds at an earlier date?
Yes, you are able to withdraw some of your funds, close your account or move to another provider without notice or penalty until the date specified in your letter.
If you gave us notice of withdrawal via our Online Service and wish to access the funds at an earlier date, please cancel this by logging in and selecting Transfers then Pending before sending us a new withdrawal request via Secure Message whilst logged in.
If you gave notice to withdrawal in branch or by post please contact us to discuss your options.
Will my interest still be added to my account?
Your interest will still be paid according to the instructions given when your account was originally set up.
Please can you stop sending me mailings of this nature?
We’re unable to stop sending you messages relating to the servicing of your account. We are obliged to send this by the regulations that govern the savings industry. These are detailed within your Terms and Conditions.
Is my money still safe with MHBS?
We are a very secure institution to keep your money at this challenging time. Detailed information about our finances can be found by visiting our financials webpage. Your money is also covered by the Financial Services Compensation Scheme (FSCS) up to £85,000, or £170,000 for joint accounts, if we are ever unable to meet our financial obligations.
