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What's the difference between a notice and an easy access account?

An easy-access account lets you withdraw your money at any time without penalty (although there may be some general restrictions, such as a daily limit on withdrawals through cash machines or the number of withdrawals you can make a year.)

With notice accounts, you have to tell the bank or building society in advance about the withdrawal. Notice periods of 30, 60 or 90 days are common. Most let you withdraw money without giving the required notice and instead lose an equivalent amount of interest.