Easy internet savings account (annual interest)

Benefits and features

• Rate guarantee - to be at least 0.50% above Egg Savings Account (internet) underlying AER until January 2011
• Save from just £1 - up to £2 million
• Manage your account online - when it suits you
• No withdrawal charges - make unlimited transactions with no loss of interest
• Safe online banking - with secure password protection

At a glance

Rates	Save From	Access	Features	Balance after 12 months (£1k investment)
1.75 1.75% Gross p.a./ AER* 1.40% Net	£1	Unlimited Manage online		£1017.50
The estimated balance is for illustrative purposes only. It is based on the gross rates shown and assumes that the interest rate and rates of tax remain constant.

• Single account holder only
• Joint account holders available
• Apply online
• Apply by telephone
• Monthly interest
• Annual interest
• ISA transfers allowed
• Interest on maturity

Risks and commitments

• Linked Account - you’ll need a ‘Linked Account’ which must be a UK bank or building society personal current account with Direct Debit facilities. The Linked Account must be in your name only or a joint account, but only if either of you can set up direct debits. You'll be able to transfer money between the BM Savings account and your Linked Account. If you set up a new Linked Account, the same conditions apply.
• Interest - calculated daily and credited back into this savings account
• Interest guarantee - if the rate on your Easy Internet Savings Account is less than 0.50% higher than the underlying AER paid on the Egg Savings Account (internet), we'll change our interest rate within seven days. We do not guarantee to link our interest rate with any other Egg Savings Account, bonus or promotional offer including special rates for new or existing customers.

Account Name	Easy internet savings account (annual interest)
Interest Rates	1.75% AER (variable)
Tax Status	Interest will be paid net after the deduction of income tax (currently 20%) unless you register your account with us to receive your interest gross.
Conditions for Bonus Payment	There is no bonus available on this account.
Withdrawal Arrangements	Unlimited withdrawals online via a Linked Account
Access	Internet

Additional Special Terms & Conditions for Easy Internet Savings Account

These Easy Internet Savings Account terms and conditions are in addition to the Birmingham Midshires General Investment Conditions and where there are any contradictions these conditions shall prevail.  We treat our Easy Internet Savings accounts as payment accounts. (We explain what a payment account is in condition 1 of the General Investment Conditions. You will see from conditions 18 and 19 of those conditions that we may treat payment and non payment accounts differently if we make any changes to your conditions or interest rate).

1. The minimum balance on the account is £1. The maximum is £2 million per investor. The minimum transaction is £1 for a deposit or a withdrawal. A minimum operating balance of £1 must be maintained at all times.
2. Interest is calculated daily and credited to the account annually on the anniversary date of the first deposit. Interest can only be paid back into your Easy Internet Savings Account.
3. Interest Rate.The Easy Internet Savings Account will pay a variable rate of interest on balances of £1 and above. Until 01 January 2011 the AER* is guaranteed to be at least 0.50% gross higher than the AER* paid on the Egg Savings Account (internet) that is promoted to UK resident customers (for tax purposes) by Egg Banking Plc (the "Egg Savings Account (internet)"). (We do not guarantee to link our interest rate with any other Egg Savings Account, bonus or promotional offer.)
4. Interest Rate Changes. We will check the interest rate paid on the Egg Savings Account (internet) daily provided it is available on the relevant date using new.egg.com (or any appropriate replacement website). If the rate on your Easy Internet Savings Account is less than 0.50% higher than the AER* paid on the Egg Savings Account (internet) we will change our interest rate within 7 days of any change in the rate paid on the Egg Savings Account (internet). 
5. 1. You agree that Birmingham Midshires may undertake a search with a credit reference agency for the purposes of verifying your identity. To do so the agency may check the details you supply against your particulars on any database (public or other) to which they have access. They may also use your particulars in future to assist other companies for verification purposes. A record of the search will be retained.
   2. If false or inaccurate information is provided and fraud is identified, details may be passed to fraud prevention agencies. Law enforcement agencies may access and use this information.
   3. We and other organisations may also access and use this information to prevent fraud and money laundering, for example, when:
      1. Checking details on applications for credit and credit related or other facilities.
      2. Managing credit and credit related accounts or facilities.
      3. Recovering debt.
      4. Checking details on proposals and claims for all types of insurance.
      5. Checking details of job applicants and employees.
   4. Please contact us at Fraud Prevention Team, PO Box 81, Pendeford Business Park, Wobaston Road, Wolverhampton, WV9 5HZ (the 'Corporate Centre') if you want to receive details of the relevant fraud prevention agencies. We and other organisations may access and use from other countries the information recorded by fraud prevention agencies.
6. Linked Account. You must set up one Linked Account to operate your account. A Linked Account must be a personal current account with Direct Debit facilities at a UK bank or building society . The Linked Account must be in your name. You will be able to transfer money between the account and your Linked Account. The same conditions apply to any new linked account you may set up.
7. Initial deposit. You must make the opening payment to your account with a cheque drawn from your Linked Account and made payable to yourself. Your name must be pre-printed on the cheque. Once we have made sure the details on the cheque correspond with your Linked Account we will pay it into the account. You cannot pay any more cheques into the account.
8. Any subsequent payments must be made by direct debit from your Linked Account. No further cheque deposits / withdrawals will be allowed. Withdrawals from your account will be conducted by BACS transfer to your Linked Account and incur no handling charge.
9. You can obtain details of our customer complaints process by calling our Internet Savings Team or visiting our website. Complaints which we cannot settle may be referred to the Financial Ombudsman Service.
10. You can obtain details of our charges by calling our Internet Savings Team or visiting our website.
11. The Easy Internet Savings Account cannot be held as a joint account. You can only open a Birmingham Midshires Easy Internet Savings Account in your own name. You may only select a linked bank account where you have the authority to do so. You are not permitted to have a link to a bank account on which you are not named, or to a joint bank account where two names are required to authorise a Direct Debit. You are not allowed to have more than one linked bank account. If you wish to change your linked bank account details, you may amend them by deleting the original and adding another.
12. Amendments to personal details may be required in writing.
13. Rates of interest on the account are variable.
14. We reserve the right to suspend the issue of this account at any time.
15. Accounts cannot be operated by power of attorney.

BM General Investment Conditions

These General Investment Conditions should be read together with any Special terms and conditions relating to your specific deposit account. If there is any conflict between these General Investment Conditions and the Special terms and conditions then the Special terms and conditions shall have priority. The General Investment Conditions apply to all Birmingham Midshires savings accounts.