How a Flexible Facility works

Withdrawals

Once you have registered for telephone transactions, you can withdraw funds from your Flexible Facility Account during office hours by phoning your AMC Account Manager (or head office, 01264 334344) and asking for a transfer to your nominated bank account. The minimum transfer is £5,000.

Instalment payments

You set regular monthly payments that are automatically collected by Direct Debit. You can change the amount at any time, free of charge, subject to giving us at least 30 days' notice, by phoning your Account Manager (or head office on 01264 334344) during office hours.

Lump sum payments

You can make lump sum payments (of £500 minimum) into your account at any time, without charge, either by cheque using your account paying in form, or by phoning your account manager to arrange the transfer. You may also pay via the Banks Automated Clearing System (BACS) in which case allow three working days for funds to clear, or via the Clearing House Automated Payment System (CHAPS), which clears the same day. Both of these electronic services are charged for. Payments that put your account into credit cannot be accepted.

Statements

You will be sent a monthly statement listing the transactions and balance (except on occasions when you have a £0 (nil) account balance).

Using the account's flexibility

Each month you can either clear all the interest automatically, or pay a minimum of £5 – in effect, taking a payment holiday.

Account limit

Charges will be made if you exceed the limit on your account. (Please see the AMC Business Tariff.)

Annual charge

Every year, on the anniversary of your facility, we will write to you to advise the amount of your annual facility charge.

Facility term

The AMC Flexible Facility is a five year facility. You can ask AMC to consider an extension of the facility term at any time. Term extensions are subject to AMC's approval.