{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-stakeholder-products-regulations-2004/regulation-4",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-stakeholder-products-regulations-2004/regulation-4.json",
  "legislation": "uksi/2004/2738",
  "legislation_title": "The Financial Services and Markets Act 2000 (Stakeholder Products) Regulations 2004",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-stakeholder-products-regulations-2004",
  "path": "regulation/4",
  "kind": "regulation",
  "number": "4",
  "heading": "Certain deposit accounts",
  "text": "A deposit account (“the account”) is a stakeholder product if the following conditions are fulfilled—\n(a) the minimum amount which an account-holder may deposit on a single occasion is £10, except where the deposit-taker permits a smaller payment;\n(b) the deposit-taker permits payment to the account by any of the following means, at the option of the account-holder—\n(i) cash;\n(ii) cheque;\n(iii) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(iv) standing order;\n(v) direct credit (other than standing order),\nexcluding payments by credit card or debit card or any combination including a payment by credit card or debit card;\n(c) interest accrues on the account on a daily basis at a rate that is not less than the Bank of England base rate minus 1 per cent. per annum (“the interest rate”);\n(d) when the Bank of England base rate increases, the interest rate must be raised within one month of the date of that increase;\n(e) on the instructions of the account holder, any cash and interest held in the account is transferred or paid to the account holder within a period which may not exceed seven days (“withdrawal instructions”); and\n(f) there is no limitation on the frequency with which an account holder may issue withdrawal instructions.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in reg. 4(b) substituted (6.4.2005) by The Financial Services and Markets Act 2000 (Stakeholder Products) (Amendment) Regulations 2005 (S.I. 2005/594), regs. 1, 2(2)(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Reg. 4(b)(iii) omitted (6.4.2005) by virtue of The Financial Services and Markets Act 2000 (Stakeholder Products) (Amendment) Regulations 2005 (S.I. 2005/594), regs. 1, 2(2)(b)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2004/2738/regulation/4",
    "retrieved_at": "2026-10-29T05:16:38.365610+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}