Cash ISA terms and conditions
Terms and Conditions relating specifically to this account
These terms and conditions must be read in conjunction with our Statement of Practice Investors leaflet, which details generic terms and conditions relating to all of our savings accounts.
You must be over the age of 16 and resident in the UK to open an ISA account.
You cannot open an ISA as a joint account.
You cannot open more ISA's than that described in the current legislation.
You cannot hold an ISA on behalf of another person.
Your initial investment must be a minimum of £10. Please make cheques payable to yourself not Leek United.
Under HM Revenue and Customs rules, from 6 April 2012 the maximum amount that can be deposited in a Cash ISA each tax year is £5,640.00
The interest rate is variable.
Interest is calculated on a daily basis and paid on 1 January.
Interest may be added to the account, transferred to another Leek United Building Society account or paid direct to your bank account
The ISA investment will be, and must remain, the beneficial ownership of the investor and must not be used as security for a loan.
If the investment fails to satisfy the provisions of the ISA Regulations, the ISA will become void and we will notify you.
Customers have a 14 day period in which to cancel their ISA investment. Day 1 - the first day after initial receipt. Day 14 - last day of cooling offer period. No charge will be made for cancellation. The Society will assist in changing the account or refund the capital plus accrued interest.
Notice of cancellation can be made in person or by written notification.
The ISA manager will satisfy himself that any person to whom he delegates any of his functions or responsibilities under the terms agreed with the investor is competent to carry out those functions and responsibilities.
On the instructions of the investor and within the time stipulated by the investor, an ISA with all rights and obligations shall be transferred to another ISA manager.
If you wish to transfer your ISA to another provider then part transfers are allowed.
This Cash ISA product does not meet minimum stakeholder requirements, as the Society may not increase the interest rate within one month of the Bank of England base rate changing.
Tax assumptions are those currently applicable and are subject to statutory change.
Dated: 6 April 2012
Details of the Financial Services Compensation Scheme can be found in the 'Other Information' section on the left of this page.
If you wish to make a regular payment
If you wish to make a regular payment into your Leek United savings account, once it has been opened, why not do this by setting up a standing order - it's quick and easy to do.
Simply quote the three sets of digits, shown below, to your bank and they will be able to make the payments direct to your Leek United account from a date specified by yourself.
Sort Code: 40-28-01
Account Number: 11012258
Roll/reference number: your own 11 digit Leek United account number (found on the first page of your passbook)
Please ensure that all three sets of digits are quoted otherwise your payment will not be credited directly to your account.
