Frequently Asked Questions (FAQs)

If after reading the following question(s) and answers you still have outstanding queries please contact us by filling out the online form below or write to: Irish Nationwide Building Society, Nationwide House, Grand Parade, Dublin 6 and we will respond to you at the earliest opportunity.


1	I have a Mortgage with the Society and am worried about my repayments
2	What is the minimum amount required to open a Share Account with the Society?
3	What Share Account types are currently available from the Society?
4	Were there previously closed issues of accounts that were Share Accounts?
5	If I hold a now discontinued Share product type, am I still a member?
6	What accounts are currently available from the Society that are categorised as Deposit Accounts?
7	I hold my account in joint names with my spouse. Would we both benefit if the Society were to convert?
8	What is a borrowing member?
9	I am 17 years of age and I would like to know if I am entitled to vote at meetings of the Society?
10	Can a person under 18 years of age be a member of the Society?
11	I have received a statement of balance at 31 December 2008 and I believe that I should have received a notice of the AGM?
12	I have an account with the Society but I am not sure if it is a share or deposit account. What should I do?
13	I have held a share account with the Society for several years but I never received a notification of the AGM?

I have a Mortgage with the Society and am worried about my repayments.

If you are concerned about your mortgage repayments-

Don’t ignore the problem.

It may help to examine your income and expenditure a Budget Form can help you identify areas on which you could cut back.

The Society provides a Mortgage Information Guide to managing your mortgage repayments with information on options that may be available to you.

Most importantly talk to the Society early. We will work with you to try and solve the problem in the best way possible.

Resources for this section:
	File Size	File Format	Download
Budget Form	63 kb
Mortgage Information Guide	22 kb
	File Size	File Format	Download
Code of Conduct on Mortgage Arrears	195 kb
*The above files have been saved as Adobe Acrobat PDF files. You will need to have Adobe Reader installed on your computer. If you do not have Adobe Reader on your computer simply click the button below and follow the simple steps.

Last amended: March 01, 2010 (00:00:35)

For further details contact Irish Nationwide Head Office, call 1850 238 238 or email: mortgages@inbs.ie.


Q.2	What is the minimum amount required to open a Share Account with the Society?
A.	The Society requires a minimum lodgement of €20,000.00 to open a new Share Account. The terms and conditions of the Share Accounts provide that the accounts may be closed if the account balance falls below the minimum lodgement.

	Last amended: March 06, 2008 (21:36:04)
	For further details contact Irish Nationwide Head Office, call + 353 (0)1 609 6666 or email: savings@inbs.ie.


Q.3	What Share Account types are currently available from the Society?
A.	The Society has a range of savings products available, the following products are categorised as Share Accounts: Fixed Rate Bonds Fixed Rate Income Bonds Fixed Term Accounts Classic Quarterly Premium Access Freedom Account Advantage 30 Flexisaver 21

	Last amended: March 06, 2008 (21:39:00)
	For further details contact Irish Nationwide Head Office, call + 353 (0)1 609 6666 or email: savings@inbs.ie.


Q.4	Were there previously closed issues of accounts that were Share Accounts?
A.	Yes, the Society had the following accounts available prior to the end of 1996: Investment Share Account Money Market Share Account Regular Income Share Account Goldsaver 90 day Notice Account Goldsaver 50 day Notice Account

	Last amended: April 20, 2009 (09:00:00)
	For further details contact Irish Nationwide Head Office, call + 353 (0)1 609 6666 or email: savings@inbs.ie.


Q.5	If I hold a now discontinued Share product type, am I still a member?
A.	Yes.

	Last amended: March 06, 2008 (21:41:31)
	For further details contact Irish Nationwide Head Office, call + 353 (0)1 609 6666 or email: savings@inbs.ie.


Q.6	What accounts are currently available from the Society that are categorised as Deposit Accounts?
A.	Deposit accounts are not share accounts. Therefore, a deposit account holder is not a member of the Society. The Society currently has the following deposit accounts available: Money Maker Deposit Account Select 30 Deposit Account Commercial Fixed Term Deposit Account Regular Saver Deposit Account Instant Access Deposit Account

	Last amended: November 9, 2009 (09:00:00)
	For further details contact Irish Nationwide Head Office, call + 353 (0)1 609 6666 or email: savings@inbs.ie.


Q.7	I hold my account in joint names with my spouse. Would we both benefit if the Society were to convert?
A.	No. The representative joint holder, being the person whose name first appears in the records of the Society in relation to Share Accounts jointly held, is the member and as such would receive any benefit that may result if the Society were to convert.

	Last amended: March 06, 2008 (21:44:30)
	For further details contact Irish Nationwide Head Office, call + 353 (0)1 609 6666 or email: savings@inbs.ie.


Q.8	What is a borrowing member?
A.	A borrowing member is entitled to vote on a conversion resolution. A person is a borrowing member at a particular time if at that time the person's indebtedness to the Society is in respect of- a housing loan OR a loan made under the 'repealed enactments', secured by a mortgage of a freehold or leasehold estate or interest in a house, AND if in either case the amount of the mortgage debt is not less than €625 (or such other amount as may be prescribed by the Central Bank by regulation). Where a loan has been made by the Society to two or more borrowers jointly, the borrower who is entitled to vote on a conversion resolution is the 'representative joint borrower' meaning that joint borrowing member who is first named in the records of the Society. A housing loan is defined in building society legislation as a loan on the security of a mortgage of a freehold or leasehold estate or interest in a house- (a) for the purpose of enabling the member to provide or improve the house or to purchase the said estate or interest, (b) where such loans are used in whole or in part to repay any indebtedness previously incurred for any of the purposes referred to in (a), or (c) where such loans are in addition to, or an increase of, any loans referred to in (a) or (b). The repealed enactments encompass the building societies legislation which was in force prior to the Building Societies Act 1989 being enacted and are set out in Schedule 1 of the Building Societies Act, 1989. Those enactments were repealed on September 1st 1989. The term 'house' is defined in the 1989 Act and the Rules of the Society as including 'any building or part of a building used or suitable for use as a dwelling and any out office, yard, garden or other land appurtenant thereto or usually enjoyed therewith'.

	Last amended: March 06, 2008 (22:27:58)
	For further details contact Irish Nationwide Head Office, call + 353 (0)1 609 6666 or email: savings@inbs.ie.


Q.9	I am 17 years of age and I would like to know if I am entitled to vote at meetings of the Society?
A.	No. The Building Societies Act, 1989 (as amended) states that persons who are not of full age (under 18) shall not be entitled to vote.

	Last amended: March 06, 2008 (21:51:09)
	For further details contact Irish Nationwide Head Office, call + 353 (0)1 609 6666 or email: savings@inbs.ie.


Q.10	Can a person under 18 years of age be a member of the Society?
A.	Persons under the age of 18 may become members.

	Last amended: March 06, 2008 (21:51:50)
	For further details contact Irish Nationwide Head Office, call + 353 (0)1 609 6666 or email: savings@inbs.ie.


Q.11	I have received a statement of balance at 31 December 2008 and I believe that I should have received a notice of the AGM?
A.	During March 2009, the Society issued statements of balance and certificates of interest only. Notices of the AGM are due to be issued to voting members during April 2009.

	Last amended: April 20, 2009 (09:00:00)
	For further details contact Irish Nationwide Head Office, call + 353 (0)1 609 6666 or email: savings@inbs.ie.


Q.12	I have an account with the Society but I am not sure if it is a share or deposit account. What should I do?
A.	During March 2009 the Society issued statements of balance at 31 December 2008 together with certificates of interest for the tax year ended 31 December 2008. These statements describe accounts as either "statement of balance - share account" or "statement of balance - deposit account". Should you still have a concern about the share or deposit status of your account, please write/email the Secretary as indicated below.

	Last amended: April 20, 2009 (09:00:00)
	For further details contact Irish Nationwide Head Office, call + 353 (0)1 609 6666 or email: savings@inbs.ie.


Q.13	I have held a share account with the Society for several years but I never received a notification of the AGM?
A.	Notice of the AGM is issued to all members who are eligible to attend and vote at the AGM in accordance with the rules. Under the rules a member is entitled to attend meetings and vote on a resolution who at the end of the last financial year of the Society before the voting date had held continuously shares to the value of not less than €125.00 for the preceding period of six months and continues to hold such shares at the voting date. This means that for the 2009 AGM a share account holder is eligible to receive the notice of the AGM if he/she has maintained continuously at least €125.00 in share account(s) during the period 1st July 2008 to the date of the AGM.

	Last amended: April 20, 2009 (09:00:00)
	For further details contact Irish Nationwide Head Office, call + 353 (0)1 609 6666 or email: savings@inbs.ie.

Should you have any further questions please write to;

Irish Nationwide Building Society,
Nationwide House,
Grand Parade, Dublin 6, Ireland.

Date: 9th November 2009

Disclaimer
While care has been taken in the preparation of the information contained in this section of the web site, the information is of a general nature only. The information contained herein does not purport to be a legal interpretation of the Building Societies Act or the Rules of the Society. We have made all necessary efforts to ensure that the information is accurate. However, we do not represent that this is the case and it should not be relied upon as such, and prior to relying on any information contained herein a person should take financial, banking, investment or other professional advice.

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