Notices

  • Our Windfall Bond is available for new account openings, offering interest at the Bank of England Bank Rate and entry into a monthly free prize draw with more prizes available now determined by the prize fund value. Find out more here

    Newly opened accounts need to be fully funded and nominated bank details registered before the end of September in order to qualify for entry into the November Prize Draw.

  • Mortgage products - On Friday 20 September we made changes to our Buy to Let mortgage product range. Our BTL Limited Company 5 Year Fixed Rate product (XF0898) has been withdrawn without replacement, and we've launched a new BTL UK Landlord 5 Year Fixed Rate product. Further information can be found here.

    On 19 September 2024, we reduced our Managed Mortgage Rates (MMR) by 0.25%. All on-sale discounted variable product rates and other details, including representative examples displayed on our website, have been updated to reflect these lower rates. We have written to existing customers who have been impacted by this change, with details relevant to them. Find out full details here.

Important Updates: Protecting you from fraud

At Family Building Society we’re committed to helping you protect your identity and money from fraud and scams. Fraud can have a serious impact on individuals. Last year alone, payment fraud in the UK cost £1.2 billion*. We'd like to share some important updates and key information you need to be aware of.

Authorised Push Payment (APP) fraud: This type of fraud occurs when you are tricked into sending money to a fraudster, either through being deceived about who you are paying, or about the purpose of the payment. From 7 October, new regulations will offer greater protection to most victims of this type of fraud. 

What this means for you

If you are the victim of an APP fraud, you may be eligible to claim reimbursement if:

  • You are an individual, micro-enterprise (under 10 employees) or charity
  • Your payment was made by Faster Payments or CHAPS on or after 7 October 2024
  • Your payment is made to a UK account that can send or receive faster payments
  • You have made your claim within 13 months of the final payment made to the fraudster as part of the same scam.

There is no minimum amount you can claim. The maximum amount that can be claimed for an APP fraud from 7 October is £85,000. An excess of up to £100 may be applied. If you are eligible for a refund, in most cases you will receive this within five business days, unless more time is needed to investigate your claim.

However, you may not be entitled to claim reimbursement if:

  • The payment is made to another account that you control, such as your nominated account
  • You have acted fraudulently yourself
  • You have been significantly careless, for example, by ignoring advice from your bank not to proceed with a payment
  • The payment is part of a civil dispute, such as, where you are not satisfied with the goods you have paid for
  • The payment is sent or received by a credit union, municipal bank or national savings bank.

These changes will be reflected in your account terms and conditions, and we’ll contact you about this in due course.

Confirmation of Payee: We’ll provide details on the Confirmation of Payee service, designed to help prevent accidental or fraudulent transfers in the UK, on our website at the end of October.

Updated privacy notice

We’ve updated our privacy notice and made it clearer and more transparent. You can download the updated notice from our 'How we use personal information' page on our website. 

  • Fraud prevention: We’ve joined a fraud prevention agency, ‘Cifas’, to better identify potential fraud at the customer application stage. For more details, see page 9 of our privacy notice
  • Credit Reference Agencies: The Credit Reference Agency information notice has been removed from our booklet but can be accessed through the credit reference agencies’ websites. See page 9 for details
  • Record retention: We’ve extended the period we keep savings customer records from six to seven years, after you cease to be a customer. See page 10 for details
  • Public interest: We may process or share your personal information e.g. with relatives, if they need to know you are a vulnerable customer and to protect your economic well-being. Details can be found on page 7
  • Payment Systems Regulator: We’ve updated our privacy notice to include the Payment Systems Regulator (PSR) in the list of regulatory bodies, whose regulations and best practice may require us to process your personal data, for example, in connection with the Confirmation of Payee service. 

How Family Building Society can help

If you suspect you’ve been the victim of fraud, please contact our Family Service Team on 03330 140144**. Here’s what to expect when you call us:

  • Verification: We’ll ask you some questions to make sure we’re speaking to the right person
  • Information security: We will never ask you for sensitive information outside our normal procedures
  • Additional questions: We may need to ask you additional questions about your claim. We may also ask for your consent to report details of the fraud to the police
  • Account monitoring: We will monitor your accounts closely for any unusual activity
  • **Office hours: Our normal office hours are 9am to 5.30pm, Monday to Friday (excluding bank holidays). We may record any phone calls we have with you in the interest of staff training, monitoring customer service or for security purposes.

Additional resources
For more information and assistance, visit the following pages on our website:

Finally, stay safe and be cautious. If something doesn’t feel right, question it. Stay vigilant and alert to protect yourself from fraud.

*ukfinance.org.uk/policy-and-guidance/reports-and-publications/annual-fraud-report-2024