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Other Important Information

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Accessing your application form via the website

Although the Society is happy to accept your application by post, together with any subsequent transactions it will remain a branch based account and therefore does not fall into the category of a postal account.

Changing your mind

From the date that you enter into the agreement with us to open your account (or, if later, the date we provide you with the General Terms and Conditions), you have 14 days in the case of a Child Trust Fund, Junior ISA or fixed rate account or 30 days in the case of any other account (including a fixed rate cash ISA) to notify us in writing at either our Head Office or one of our branches that you want to change your mind.  If you notify us within this time, you can:

• Have your money back (assuming we have received cleared funds); or
• Switch to another available account

In this case, you will not have to

• Give any period of notice
• Lose any interest on the account you are closing; or
• Pay any other charges

If you do not exercise your right to change your mind, you will continue to be bound by the terms and conditions and any special conditions that apply to the particular account until your account is closed by you or us. 

Identification Requirements

We are required by law to check the identity of all account holders.  Please see the Identity Verification page on this website for our identification requirements.

Service Charges

Complaints Handling Procedure

The simplest and quickest way to express your concern is to contact us. Where possible your local branch should be your first point of contact. Alternatively you can call us on 0800 834312 (Investments) 01229 824560 (Head Office). You can also e-mail us on ask@furness-bs-co.uk or write to us at 51-55 Duke Street, Barrow in Furness, Cumbria. LA14 1RT

The Society is covered by the Financial Ombudsman Service and has a complaints handling procedure. A copy of the complaints handling procedure is available on request. Complaints we cannot settle may be referred to the Financial Ombudsman Service.

The contact details for the Financial Ombudsman Service are
The Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London
E14 9SR

Financial Services Compensation Scheme

Important information about compensation arrangements

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a building society is unable to meet its financial obligations. Most depositors – including most individuals and small businesses – are covered by the scheme.

In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with the building society, including their share of any joint account, and not to each separate account.

For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website www.FSCS.org.uk or call 020 7892 7300 or 0800 678 1100.

Accounts held by the following are not covered by the Financial Services Compensation Scheme:

• a large company

• a large partnership

• a large mutual association

• a local, provincial or municipal authority

• a credit institution

• an overseas financial services institution

• an operator or trustee of a collective investment scheme

• a pension and retirement fund or a trustee of such a fund

• a supranational institution

• a government, or central administrative authority

• a firm within the Society’s group

• a person whose claim arises from transactions relating to a conviction they have received for money laundering.

Further details of exclusions from FSCS cover can be found on the Financial Services Authority website at http://fsahandbook.info/FSA/html/handbook/COMP/4/2

Other Information

Furness Building Society is authorised and regulated by the Financial Services Authority and is entered in its Register under number 159624.