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In these Account Terms & Conditions which include the 'Summary Box – Key Product Information for our Savings Account(s) table on the previous page ('Summary Box') ‘you/your’ refers to the Account holder(s) and ‘we/our’ refers to Principality Building Society.

1. Please read these Terms & Conditions ('Account Terms') together with our 'Savings Terms and Conditions' ('General Terms') which also apply to your Account and contain important information about how your Account operates (see in particular the 'Product specific terms and conditions: Internet accounts' section). In the event that there is any conflict between these Account Terms and the General Terms the Account Terms will apply.

2. The Account is only available to individuals aged 16 or over who are UK resident for tax purposes. The Account is not available to companies, clubs, societies or charities and cannot be operated by trustees or under a Power of Attorney.

3. Only one Account per customer permitted.

4. You can only open and operate your Account in your own name and cannot hold it jointly with someone else.

5. When you open your Account you must also hold an account with another UK bank or building society ('Payment Account') which can be used for payments out of your Account.

6. If your opening deposit is not received within 30 days of your Account being opened your Account will be closed.

7. The minimum balance for the Account is £1 and the maximum balance is £1,000,000. Your Account will be closed if the balance in it falls below the minimum balance.

8. The interest rates applicable to your account will be the rates set out in the Summary Box.

9. Interest on your Account will be calculated daily from the date you open your Account until 31st December and added to your Account on 1st January. Thereafter your interest will be calculated from 1st January to 31st December each year and added to your Account on 1st January.

10. Transfers out from your Account may be made by Faster Payments or telegraphic transfer. Telegraphic transfers are subject to a charge (please see our Tariff of Charges for details) which will be deducted from your account balance before the transfer is made. If the balance in your Account is less than the total amount of the transfer charge and the transfer you have requested the amount of the transfer will be reduced to cover the charge.

11. Requests to close your Account must be made by using the secure message facility for your Account and for security reasons a cheque for the closing balance, which can only be made payable to you, will be sent to the address you have registered for the Account.

12. If you wish to have your closing balance sent to you by telegraphic transfer the terms of Condition 10 (above) will apply.

13. The Account has limited availability and we reserve the right to withdraw it at any time and without notice.

14. The Membership and Charitable Assignment provisions of the General Terms apply to the Account.