Regulation 4 Certain deposit accounts

the minimum amount which an account-holder may deposit on a single occasion is £10, except where the deposit-taker permits a smaller payment;

the deposit-taker permits F1payment to the account by any of the following means, at the option of the account-holder—

excluding payments by credit card or debit card or any combination including a payment by credit card or debit card;

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”);

when the Bank of England base rate increases, the interest rate must be raised within one month of the date of that increase;

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

there is no limitation on the frequency with which an account holder may issue withdrawal instructions.