How can I open an N&P Business Extra Account?
It's easy.
You can open your N&P Business Extra Account by popping into your local branch.
After I have opened an N&P Business Extra Account, how quickly will I need to start saving?
As soon as you can.
You must pay in at least £100 to open your N&P Business Extra Account within 30 days of the date of your application being accepted.
How do I save into the N&P Business Extra Account?
It's up to you.
You can make regular savings, invest a lump sum, or just put away whatever you can, whenever you can.
You can arrange a standing order with your bank or building society for regular payments to be made into your N&P Business Extra Account, or you can transfer money into your account at any time. Just quote your N&P Business Extra Account number and sort code.
Do I become a member of N&P when I open an N&P Business Extra Account?
No.
This deposit account is for business use only. You will not become a member of the Society on opening this account nor will you have any associated rights.
Can the interest be paid to me gross?
The following categories of savers have the option to receive gross interest:
- a corporate body (e.g. limited company, non-registered charity)
- a registered charity
- a Health Service body
- a unit trust scheme
- a personal pension scheme
- an exempt approved retirement benefit scheme
- an unincorporated club/society
To receive gross interest you need to download and complete an R85 declaration and send it to N&P address below.
Norwich and Peterborough Building Society
Postal Investments Unit
FREEPOST PE 104
Peterborough
PE2 6BR
If you think that you are eligible for gross interest it is important that you complete this declaration when you first open your account as any tax that is deducted cannot be refunded.
When will my account start earning interest?
Cheques paid into an account paying a variable rate of interest will earn interest from the second working day after the day we receive them. Cheques paid into an account paying a fixed rate of interest will earn interest from the day we receive them.
Money paid into your account in cash or by Bankers’ Automated Credit will earn interest from the day we receive it. Interest is then paid for each full day your money is invested, and will be added to your account in January each year (unless otherwise stated).
Your money will earn interest up to, but excluding, the day you withdraw it.
What are the rules on withdrawals?
You can take money out of your account at any time without notice or losing interest.
Can I move money between my accounts online?
Yes you can.
Just remember that any transfer will be subject to the withdrawal terms of the account you're taking money from.
Now and again, when carrying out online maintenance, we may have to suspend certain facilities temporarily, so if you find our online service unavailable, please be patient, and do try again later.
Can I be certain that online banking is absolutely secure?
You can with N&P.
Our online system is extremely robust. It is constantly checked by both internal and external experts. Advanced encryption technology scrambles all sensitive data to provide total confidentiality.
You are given a unique customer number and a 10-character password. When you use the service for the first time you might want to change this password for one that's more easily remembered - but don't write it down or make it too obvious, so that someone else could guess it.
Can I manage my account online?
Yes you can, subject to you being 16 years old or over.
Online you are able to:
- View up-to-the-minute balances on all your N&P savings and current accounts whenever you like.
- Check all payments and withdrawals on your account (where withdrawals are allowed).
- Set up and cancel payments (subject to these services being available on your specific account).
- Transfer funds between your N&P accounts (subject to this service being available on your specific account).
- Send and receive messages regarding your accounts.
To manage your account online you'll need to register for our online banking facility, you can apply online by clicking here.
The maximum amount you can withdraw online is £10,000 per day (subject to account balance and account terms).
Now and again, when carrying out online maintenance, we may have to suspend certain facilities temporarily, so if you find our online service unavailable, please be patient, and do try again later.
For more information on our Internet Banking Service please visit our Internet Banking Section.
What if I'm unhappy with the terms of my account?
Just tell us.
We make it our aim to do the best we can for all our customers. If within 14 day's (7 day's for all Fixed Rate Bond products) you decide that this account is not for you, we will be happy to transfer your money to another N&P account.
Or if you prefer, we will return your money to you without any charge being made, or notice being required.