100 Day Notice Cash ISA (Issue 2)

Interest is calculated on a daily basis and added to the account annually on 31 March.

The interest rate is variable, which means we reserve the right to change them to reflect market conditions, to comply with legal or regulatory guidelines and to protect the long-term future of the Society.

We will give you fourteen days’ notice before any change that would disadvantage you.

For full details please read our Terms and Conditions.

Based on the current rate of interest, if you deposited £1000 in this account, after 12 months you would have £1010.00.

(This figure is only an estimate, based on there being no additional deposits, withdrawals or rate changes in that time with all interest being added to your account. This figure is for illustrative purposes only, and does not take into account your individual circumstances.)

This account is only for UK resident individuals aged 16 or over (subject to an exception for certain Crown employees, their spouse or registered civil partner).

From 6 April 2022 the overall ISA subscription limit for 2022-23 will be £20,000. New subscriptions can be split in any proportion between Cash and Stocks and Shares ISAs as the saver chooses. However, a saver will only be able to pay into a maximum of one Cash ISA and one Stocks and Shares ISA each year.

Accounts can be opened with a minimum amount of £25 and the maximum that can be held in this account is £500,000. You may invest up to the maximum Cash ISA limit in a single tax year.

Withdrawals have no effect on the subscription limits. This means that once the limit has been reached for the tax year you cannot make any further investments in that year regardless of any withdrawals made.

Transfers in of ISA funds are not permitted.

• Investments must be in your sole name only
• You may subscribe to only one Cash ISA in any one tax year
• You must be resident and ordinarily resident in the UK
• You will be and must remain in beneficial ownership of the investment and it must not be used as security for a loan
• The Society will notify you, if by reason of any failure to satisfy the provisions of the ISA Regulations, your Cash ISA has, or will, become void
• In the event of death before 6th April 2022, any interest due up to the date of death will qualify for income tax exemption, but not thereafter as the account will cease to be an ISA
• In the event of death on or after 6th April 2022, the account will be designated as a "continuing account of a deceased investor" or "continuing ISA" and interest accrued before and after date of death will be exempt from tax. The ISA will continue until a) the completion of the deceased's estate; b) the day after the 3rd anniversary of the investor's death, or c) the closure of the account.
• In the event of you opening a Cash ISA, the application remains valid for subscriptions made in the next and consecutive years. However, where a break between subscriptions lasts for a whole tax year, we will need a fresh application before subscriptions can recommence.

To open an account see How to Apply below. Manage your account by visiting a branch of the Society or by forwarding your written instructions to us.

100 Days’ Notice - on receipt of your instruction, and within the time stipulated by you, all or part of the investments held in your ISA and proceeds arising from those investments, shall be transferred or paid to you. Subject to a penalty of the loss of 100 days’ interest, or following 100 days’ notice being given when no interest penalty will be applied.

On receipt of a transfer instruction from a new ISA manager, we will send the cash and accompanying information to the new manager within 5 business days of receipt. Subject to a penalty of the loss of 100 days’ interest, or following 100 days’ notice being given when no interest penalty will be applied.

Withdrawals are subject to the limits explained in our savings terms and conditions.

Stakeholder standards
We have decided not to apply the minimum standards for a deposit based stakeholder product so that we have the flexibility to adapt the account as required in the future.

Cooling off period
If you are not happy with your savings account, you may cancel it within 14 days of:
(1) the day the contract is entered into; or
(2) the day on which you receive the contract terms and conditions and other information on paper or electronically; whichever is later.

We will help you switch to another of our accounts or we will give all your money back with any interest it has earned. We will ignore any notice period and any extra charges.

Other information
You can obtain further information on ISAs from the Building Societies Association leaflet ‘Individual Savings Accounts and Building Societies’ available from any of our branch offices. Information on other savings accounts available from the Society is also available on request from any branch of the Society and also from our website.

Complaints
The Society has an internal complaints procedure and we are also a member of the Financial Ombudsman Service. Separate leaflets regarding these are available on request.

Compensation Scheme
The Society is a member of the Financial Services Compensation Scheme.

This is a summary of the key features of this account. You will still need to read the savings terms and conditions.