Frequently asked questions

How we can help

Savings customers – Frequently asked questions

How do I open an account with Market Harborough Building Society (MHBS)

You can visit one of our six local branches or;

You can go online via our Online Service as either an existing or new customer 

What do I need to open an account 
  • Your National Insurance number
  • Your Bank Account details
  • Your mobile phone number – if you don’t have one please contact us on the number below
  • If you are opening this account as a joint account, please ensure that all signatories are present when continuing with this application process
What if I change my mind or my circumstances change

If, within 14 calendar days of investing your first payment with us (excluding public holidays) you consider this is not the right account for you, then once you have notified the Society’s Principal Office in writing by e-mail or by visiting one of the Society’s branches we will help you switch accounts or arrange to reimburse your money (if cleared funds) and will waive any notice period or interest charges.

Fixed Term accounts do not having a cooling off period. This is an FCA Regulation. 

Proving your identity

In order to comply with Money Laundering Regulations, we must obtain and record identification for each new (and in some cases existing) customer. A customer is defined as anyone who has a connection to an account whether they are the account holder, a trustee, a beneficiary of a trust account, an Attorney, a Receiver, an Executor, holder of a Third Party Mandate or signatory to a corporate, club, association or charity account. The documentation required depends on the type of account being opened. 

Proving your identity

Proving your identity – organisations

Standing Order Details 

When transferring money from a bank or another building society account to your Market Harborough Building Society account please ensure that you quote all of the following numbers: 

Sort Code: 20-49-16
Account Number: 70608386
Reference: Your Market Harborough Building Society 11 digit Account Number. (Input 11 numbers only – do not include spaces or any special characters)

Please note that certain banks do not automatically provide a reference number field if you bank with them online. You may have to telephone them so that they can set up this information for you.

How can I contact you 

You can call us 01858 412412 – 5pm Mon – Fri

Email us at 

When logged in to the Online Service, send us a secure message from your homepage by clicking on the Messages tab.

My bond matures next month what do I need to do/How do I let you know about my choices?

Before your account matures, we will contact you by post to let you know, and to explain the details of your options – including a default product.

If you are happy with the default product, you don’t need to do anything and your new product will start as soon as your existing bond matures.

If you would like to select a different product, please follow the instructions in the letter to arrange this quickly and easily online via our Online Service, or arrange to visit your nearest branch on the next working day (bonds mature at midnight of the date provided). Our branch staff will be happy to assist you in opening the new account of your choice.

Please note that, if your maturity falls on a Saturday or Sunday, you will be able to select your new product on the following Tuesday.

General Savings terms and Conditions

You can view the Society’s Savings Account Terms & Conditions that apply to every transaction that you undertake on the account after it has been opened.

Can I take money out of my Notice or Fixed Term account

If you hold a notice account once an account is funded all withdrawals are subject to the applicable notice period, there is no option to withdraw with penalty or loss of interest.

If you hold a fixed term bond no withdrawals are allowed during the term of the account.

How do I close my savings account 

You can close your account by logging in to the Online Service and via the Messages tab send us a secure message with your account closure instructions. 

You can also close your account by visiting one of our branches

All closures are subject to the individual account terms and conditions.

Do I still earn interest once I have given notice to close an account

Yes. Your interest is calculated daily up to the day your money is withdrawn. 

Can I leave an account open with a balance below the minimum

Yes. If your account balance falls below the minimum balance for the account type as per the product terms, the rate applicable to our current easy access Save and Support account will apply until the minimum balance is met. Details of these rates can be found on our Current Interest Rates page.

Interest and tax information

From 6th April 2016 the Personal Savings Allowance was introduced. This meant that tax payers could receive some income from their savings tax free, depending on their individual tax status. As a result tax is no longer deducted from any savings interest.

Banking Conduct Regime

The Society supports the Banking Conduct Regime which consists of the Banking Conduct of Business Sourcebook (BCOBS) issued by the Society’s regulator the Financial Conduct Authority (FCA), and the Payment Services Regulations (PSR) which arose from an EU Directive. 

Money Helper provides facts about saving and investing.

Financial Services Compensation Scheme (FSCS)

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a building society is unable to meet its financial obligations.

Most depositors are covered by the scheme; further information can be found in the FSCS Protecting your money guide, via the FSCS website, or by telephoning our Savings Support Team on 01858 412412.

Can I transfer money overseas?

No, we don’t offer a facility to transfer money overseas

What are your Swift/IBAN details for receiving funds from overseas into my savings account?

We do not accept international payments into our savings accounts

Proving your identity

In order to comply with Money Laundering Regulations, we must obtain and record identification for each new (and in some cases existing) customer. A customer is defined as anyone who has a connection to an account whether they are the account holder, a trustee, a beneficiary of a trust account, an Attorney, a Receiver, an Executor, holder of a Third Party Mandate or signatory to a corporate, club, association or charity account. The documentation required depends on the type of account being opened. 

Proving your identity

Proving your identity – organisations

Misdirected payments

A misdirected payment is a payment made to the wrong account, due to incorrect payment information being supplied.

You must notify us as soon as you become aware that an electronic payment has been sent to the wrong account. You can visit any of our branches, call us on 01858 412412 or email us at We will commence our investigations within two working days of your notification.

If we are unable to reclaim the funds immediately (for instance if the recipient disputes its return) we will notify you of the outcome in a maximum of 20 working days from your initial notification.

If the funds cannot be recovered through the recipient’s bank, you can seek further assistance in how to recover the funds from the Financial Conduct Authority (FCA) website

What to do when an account holder dies

Get in touch as soon as you can so we can help you with their MHBS accounts.

Ways to contact us:

  • Visit us in person
    Call into your local MHBS branch where our friendly and helpful staff will be on hand to assist you. Please bring along the documents listed in Section 2.
  • Write to us 
    Post the original (or certified copies) of the documents listed in Section 2 to:
    Customer Support Team
    Market Harborough Building Society
    Welland House
    The Square
    Market Harborough
    LE16 7PD

We will then get in touch with you.

  • Telephone
    Contact the Customer Support Team on 01858 412412.

Once you’ve notified us, we will write to you to confirm the next steps you need to take, including any forms you will need to complete.

What you will need to provide (Section 2)

We will need sight of the original death certificate (or a certified copy).

It would be useful if you could return any passbooks held in the deceased person’s name.

Proof of identity for whoever is dealing with the estate must be provided.

If the total balances exceed £25,000 (including accrued interest) Probate will be required to close the account(s).

If the deceased person is party to a mortgage with us, this will be dealt with separately and our Mortgage Support team will contact you to confirm the next steps.

What is Probate and do I need it?

The right to deal with the estate of someone who died is called ‘Probate’. If there isn’t a Will, instead of Probate you’ll need a legal document called Letters of Administration. You can apply yourself or use a solicitor. For further information please visit

The Society requires Probate or Letters of Administration if the total balances of the deceased person’s MHBS account(s) exceeds £25,000 (including accrued interest).

Sole accounts (except ISAs)

We will freeze all sole accounts that the deceased person holds with us. However we will release funds towards the cost of the funeral or Inheritance Tax upon sight of the original invoice.


Any ISA held will be designated a ‘continuing account of a deceased investor’.

An account will remain a continuing account of a deceased investor until the earlier of:

  • the completion of the administration of the deceased’s estate
  • the closure of the account
  • the third anniversary of the death of the ISA holder.


These can be left until maturity, or alternatively, closed immediately without incurring any early closure charges.

Joint accounts

We will amend the account details to the survivor’s name; the remaining account holder(s) can continue to use the account(s) without interruption.

If you are not sure where accounts are held

If you are not sure which banks or building societies the deceased’s accounts are held with it can be time-consuming contacting different organisations individually to find out. The website is a useful aid to help you track down a list of the organisations that have accounts in the deceased person’s name.

Customer Champion – Carole 

Carole spends most of her time supporting the frontline teams and making sure we are here for our members when they want to talk. Just ask to speak to Carole and we will arrange this at a time to suit you. 

Caring for our Members

Did you know we can tailor our services if there has been a change to your personal circumstances, this could include:

  • Your health
  • Ways we communicate
  • Life events
  • Understanding your accounts
  • Getting someone to help you with your finances

Please get in touch, there are a number of ways you can contact us:

You can visit a branch, call us on 01858 412412 or email

Additional information is available on the Contact MHBS page of our website

Appointing a third party 

If you need help managing your finances or need to support someone close to you with their finances you may want to consider putting a third party arrangement in place.

A third party arrangement can be made by an account holder when they nominate a person to help them. The account holder maintains control of who helps, how much help they receive and decides when they no longer want or need help. 

How can I set up this arrangement with Market Harborough Building Society for my saving(s) account?

An arrangement can be set up for a maximum 12 months in the first instance. Your appointed third party will be able to withdraw money on your behalf from a branch and to report a lost or stolen passbook. They won’t be able to access your account online or by post, change your personal details or close your account(s).

Read our Third Party Terms and Conditions which will help you decide whether appointing a third party is right for you.

If you choose to go ahead and set up an arrangement, you should fill in the Third Party Mandate that both you and your appointed third party will need to sign. Then take your signed mandate to your local branch with the following documents:

  • Your savings passbook
  • Two documents proving your third party’s identification and address. Please see the Proving your identity leaflet for details of what is acceptable.

If you’re unsure whether a third party arrangement is right for you, you’ll find further information in the Building Societies Association booklet Need support with your finances from a friend or family member? or alternatively you can contact us on 01858 412412.