Saga Telephone Easy Access Account Conditions

In these conditions ‘we’, ‘our’ and ‘us’ means Bank of Scotland plc – Birmingham Midshires is a division of Bank of Scotland.

Our agreement with you is made up of three kinds of conditions:
The General Savings Conditions (‘general conditions’) which include the main terms for your savings account and for our overall relationship with you.

The Account conditions below. 

Any other additional conditions including the details of interest rates, charges and other terms that apply to a specific account or service, for example, in application forms, rates leaflets, letters or on our website. 

If an additional or Account condition conflicts with a general condition, the additional or Account condition applies.

Our general conditions explain that we treat payment and non-payment accounts differently when we make any changes to your conditions or interest rate. This account is a payment account.

You can find out about the current interest rate for your Account by calling 0345 850 0664 or going online at

Opening a Telephone Easy Access Account

To open a Telephone Easy Access Account you:

Must be 50 or over and a UK resident.

Must deposit at least £1. 

Can apply online or by telephone. 

Can apply in sole or joint names.

Must set up a linked personal current account in your name (either solely or jointly) with us or another UK bank or building society so you can pay money into and out of your Account. You (and any joint account holder) must be able to set up Direct Debits on your linked account.

Must make your first payment by cheque from your linked account, payable to yourself.

Having an Telephone Easy Access Account

Our interest on Telephone Easy Access Account:

Is variable and can change.

May depend on the balance in your Account (please check your interest rate details).

Is calculated daily.

Will be paid on the interest payment date you choose when you open the account. This can be either:

yearly on the anniversary of the Account opening date (if this day falls on a non-bank working day, interest will be paid on the next bank working day; or

monthly on the first bank working day of each month. 

Is paid into your Account, unless you ask us to pay it to a different account with us or another bank or building society when you open your Account. 

Operating your Telephone Easy Access Account:

By telephone only.

You must set up security passwords for operating your account by telephone. We will ask you or your joint account holder to provide these passwords when either of you operate the account.

After your first payment by cheque, all payments in must be by Direct Debit from your linked account.

Unlimited payments in up to £10 million.

Unlimited withdrawals to your linked account by electronic transfer.

We will send you an annual statement.

The end of your 12 month Telephone Easy Access Account term

At the end of your Telephone Easy Access Account:

Your Account will automatically become a Telephone Standard Saver Account. This will happen on the first working day after the 12 month period following your first deposit. Your account number and sort code will not change. 

We will write to you before the end of the 12 month period and provide you with the conditions for your Telephone Standard Saver Account. We may also provide you with information about other accounts we are able to offer you.

Issue date: 31 August 2018