Customer notice Changes to your notice account

Customer notice

Changes to your notice account

Changes to your notice account

Following an extended period of historically low interest rates and with the Bank of England base rate at a record low, we are reducing the interest rate on some of our accounts.
We're pleased to continue providing rates which are competitive within the current market. We encourage you to browse independent comparison sites, such as Savers Friend or Savings Champion to compare rates before you consider your options.

Notes that apply to these rates:
* Interest is paid without tax deducted. Some savers will be required to pay tax on savings interest; this should be arranged directly with HMRC through your tax return.
** AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once each year.

Gross*%AER**%
90 Day Account£5,000+1.451.45
Member 120 Day Account£5,000+1.601.61
180 Day Account£5,000+1.751.76
Business 120 Day£10,000+1.351.35
90 Day Account:
  • Variable interest paid annually on 30 June
  • Rate effective 1 November 2018
Member 120 Day Account:
  • Variable interest paid monthly on the last working day of each month
  • Rate effective 1 November 2018
180 Day Account:
  • Variable interest paid monthly on the last working day of each month
  • Rate effective 15 November 2019
Business 120 Day:
  • Variable interest paid annually on 31 January
  • Rate effective 21 February 2019
Gross*/AER**%
90 Day Account£5,000+0.60
Member 120 Day Account£5,000+0.65
Business 120 Day£10,000+0.60
90 Day Account:
  • Variable interest paid annually on 30 June
  • Rate effective 10 March 2021
Member 120 Day Account:
  • Variable interest paid monthly on the last working day of each month
  • Rate effective 10 March 2021
180 Day Account:
  • Please see 90 Day Account*.
Business 120 Day:
  • Variable interest paid annually on 31 January
  • Rate effective 10 March 2021

*The 180 Day Account changed to a 90 Day Account, effective 10 March 2021.

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 withdraw in branch or by post please contact us to discuss your options.

Will my interest still be paid to my bank account?

Your interest will still be paid according to the instructions given when your account was originally set up. Please note, interest payments must be above the value of £5 to be paid to a bank account.

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.

General enquiries

If your question isn’t answered in the ‘Frequently asked questions’ section above, please email us at customersfirst@mhbs.co.uk or you can call:

01858 412251 (available 9.00am – 5.00pm Mon – Fri). Alternatively please try one of our other support numbers shown on our dedicated COVID-19 webpage.

Online Service

For Online Service queries please log on and send us a secure message or you can call:

01858 412502 from 9.00am – 5.00pm Monday to Wednesday

01858 412251 from 9.00am – 5.00pm Monday to Friday

Alternatively please try one of our other support numbers shown on our dedicated COVID-19 webpage.

Could your visit wait?

The latest Government guidance asks us all to stay at home, protect the NHS and save lives.

Please consider whether your visit is essential, or if it could wait until after this lockdown.

If you decide you need to visit a branch, please check our latest opening hours and safety measures on our dedicated COVID-19 webpage before your visit.

Is there another way we could help?

If you haven’t already done so, you can register for our Online Service to access your account(s) without having to visit a branch. You can also contact us at customersfirst@mhbs.co.uk, or over the phone using the numbers listed in the Get in touch section above.