StreamBank Plc
(AA)Deposit amount: Min. £1,000 – Max. £85,000
Protection limit: Up to £85,000 payout in GBP
Account information
Rate
Duration / Notice period
Deposit Guarantee
Product Type
Rate
3.56% AER
Notice period
95 days
Deposit Guarantee
£85,000
Product Type
Product Type
Account Name
StreamBank Plc: 95 Day Notice Account
What is the interest rate?
Can StreamBank Plc change the interest rate?
The interest rate applicable to your deposit is variable.
Should the bank set a date to lower the interest rate, you will be given a minimum of 95 days’ notice. You may receive less notice if the rate increases.
Please review the Meteor Asset Management (MAM) Terms and Conditions for more information.
What would the estimated balance be after 12 months based on a £1000 deposit?
How do I open and manage my account?
To open this savings account, you must apply online through Raisin UK. Savings accounts at Raisin UK are only available through this online application process, and to be eligible to apply, you must:
● Be a UK resident who is aged 18 or over
● Hold a UK bank or building society account from which you will fund your application
● Have a valid mobile phone number and email address
● Have a UK National Insurance Number
Your application acceptance will be subject to the successful completion of Anti-Money Laundering/Know Your Customer (AML/KYC) check.
The minimum amount you can deposit is £1000.00, and the maximum amount you can deposit is £85000 (per product and banking institution).
You can manage your savings account through Raisin UK by logging into your Raisin UK Account. You can contact Raisin UK by telephone, by email or in writing by using the contact details provided in the Raisin UK Terms & Conditions.
Please ensure you have read and understood all sets of Terms and Conditions before applying for this product.
Can I withdraw money?
You may withdraw the full deposit amount only. This will be subject to a 95 day notice period. You are unable to add to the initial deposit or make partial withdrawals. Funds may be returned to your Raisin UK Account in two separate payments by MAM following the notice period expiry. For further information, please refer to clause 4.21 of the MAM Terms and Conditions.
Your notice of termination will start on the business day after your request to give notice.
Once notice has been given it can’t be revoked.
If a termination falls on a non-business day, then payment will be made on the next business day and interest will be paid for the additional days. e.g. If a notice account terminates on a Saturday and funds are returned on the Monday, interest will be paid for the intervening Sunday.
Additional Information
MAM, with their administration arm Meteor Investment Management (MIM), will administer the deposit on your behalf.
Funds will appear in MIM’s account by the following business day from funding your application at the latest. Funds will be remitted to StreamBank Plc by MIM on the next business day after arriving in the MIM account. It can therefore take up to 2 business days for an ordered product to be set up and start earning interest.
Cash and deposits will be held by MIM and MAM in trust for you under FCA client money and asset rules.
You have the right to cancel your account without charge and without giving any reason, within 14 calendar days from the day of opening this savings account. For further information, please refer to clauses 1.18 and 1.19 of the MAM Terms and Conditions.