OPEN a Junior Reds Saver Account with just £20 and get your hands on a free 2009 calendar from Oakwell.

Accounts should be opened with a minimum of £20, which should remain in the account for a period of three months or more.

The Junior Reds Saver is the new collaboration between Barnsley Building Society and Barnsley Football Club to offer young supporters a great savings opportunity that allows them to support the Club in a unique way and that pays a great rate also.

Open your Junior Reds supporter account soon and get saving for a great future with a whole host of exclusive opportunities linked to the Club.

Accounts can be opened at any branch of Barnsley Building Society or you can call direct for your application pack which will include details of the personal identification requirements.

A Junior Reds Saver account provides an excellent savings starter account for the under 16's which allows developing youngsters to see the value of saving money whilst also offering access to specialist incentives with Barnsley Football Club. A Junior Reds Saver is also an excellent home for financial gifts from parents, relatives and friends.

Deposits and Withdrawals

You can invest and withdraw from this account at any time to suit your requirements. When you make a deposit the current rate of interest is applied immediately, so your savings grow from day one. The account offers one enhanced interest rate no matter what the balance, to ensure that the account holder's savings grow consistently. Ask for a copy of our interest rates to see the rate currently applicable. Rates are variable on this account and can go down as well as up.

Withdrawals are also simple and can be made over the counter with your passbook, to offer you either cash or cheques. No notice of withdrawal is required subject to the general terms and conditions seen in this leaflet.

Opening a Junior Reds Saver Account

The account can be opened at any Society branch, in person or by post.

As this account has been developed as a sound introduction to saving for youngsters under 16, there are a couple of ways the account can be opened and managed. In both cases, we will require sight of documents which offer proof of the individual's identity and home address.

Children Under Seven

Accounts can be opened for under seven's by a responsible individual who is willing to operate the account as a trustee. Account trustees are not restricted to parents or grandparents and can often include other family or friends who may wish to start saving for the child. It should be made clear that when an account is set up for a child and a third party acts as a trustee on the account, the funds held in the account must be used for the benefit of the named child in every instance.

Once the child has reached the age of seven, should it be required, the account can be transferred into their name only.

As a trustee, as part of the account opening procedure, we will carry out electronic verification of your personal identity and address. If this search proves unsuccessful, you will be asked to provide documentary evidence, such as a passport or photo driving licence. We will also need to see identification relating to the child e.g. birth certificate, passport etc. For further clarification, either contact your local branch or Customer Services Department.

Aged Seven or Over

A youngster can open a Junior Reds Saver account in their own name if they are seven or over and can then make deposits and withdrawals whenever they like. In this case there is no need for the trustee role but we will again need to see identification relating to the child (one for personal identification which could be a birth certificate and another for home address verification).

What Happens When the Account Holder Reaches 16

A Junior Reds Saver is available to individuals up to their 16th birthday. At that time the account holder will be contacted with the options available at that time. Accounts can be transferred into adult Reds Saver but a brief chat with a Customer Adviser is always advised to ensure you get the best opportunity for the savings held within the account at that point in time. Without instruction from either the account holder or trustee, the account will automatically transfer to a Red Saver Account.

Bonus Payments to the Club

The Club will receive a bonus payment annually which is linked to the total Junior Reds Saver balances as a whole. This payment will be made to the Academy for the future development of youngsters in the area. The payment will be the equivalent of 0.5% of the average daily balance held within the account type as a whole. This payment is made by the Society on behalf of Junior Reds Saver account holders and will not affect account holder balances.

Income Tax Deductions

Whilst most under 16's are not eligible to pay tax when the account is held in their name, dependent upon circumstances this might be applicable.

Interest will be paid after deduction of income tax at the lower rate or, subject to the required certification, gross. Registration forms are available from any of the Society's branches or agencies, or direct from HMRC. If you are a non-taxpayer you will be able to claim repayment of this tax directly from HMRC. You can also claim a repayment of tax if your income falls within the starting rate band and you are eligible to pay less tax than the amount deducted from your interest. Individuals who are liable at the higher rate of income tax will have to pay additional tax on the interest to cover the difference between the tax deducted and the higher rate tax due.

The Society is required to supply HMRC with details of all interest paid or credited to investors each year.

Terms And Conditions

1. INVESTMENTS: Each account is subject to an initial investment of £1 and additional sums of any amount may be invested at any time up to the account maximum of £10,000.

2. COOLING OFF PERIOD: If, after careful consideration, you decide that you are not happy with your choice of savings or investment account(s) and you bring this to our attention within 14 days of your initial receipt, we will help you to either switch accounts or return your money with any interest earned over that period*. We will ignore any notice periods and additional charges in these cases. *Please note: Cheques paid in within the 14 day period will have to clear before a refund can be given.

3. WITHDRAWALS: Withdrawals can be made at a branch counter on demand to provide cash up to £500 or up to the account balance by cheque. Withdrawals by post offer cheques only. In both cases your passbook will be required. No notice of withdrawal is required subject to the general terms and conditions seen at the back of this leaflet.

4. INTEREST: This is calculated on a daily basis, including the day of receipt but excluding the day of withdrawal and paid on 31st December each year. Interest will be added directly to the account.

5. INTEREST RATES: We reserve the right to amend interest rates at our discretion using one or more of the following methods:
1 Advertisements in the Yorkshire Post and Derbyshire Times Newspapers
2 Notice in Branches
3 Individual notification to investors
4 Internet - Society Website

6. ACCOUNT MATURITY: As this account is specific to individuals aged up to 16 and their trustees, when their 16th birthday approaches, the Society will write to the individual named on the account with their options, including movement into the adult Reds Saver account. Without instruction from either the account holder or trustee, the account will automatically transfer to a Red Saver Account.

7. ACCOUNT HOLDING: One account per individual permitted only, which cannot be held jointly.

8. AMENDMENTS: We reserve the right to amend Terms and Conditions of issue at our discretion. Should the change be to your disadvantage, we will tell you about it personally at least 30 days before we make the change.