Tax Friendly ISA terms and conditions
Conditions of issue
You must be over the age of 16 and resident in the UK
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 any other person.
The initial investment must be a minimum of £10.
Under HM Revenue and Customs rules, the maximum amount that can be deposited in a Cash ISA each tax year, from 6 April 2008 is £3,600. No additional deposits can be made into an account that was previously a TESSA Only ISA account.
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 account with us or paid direct to your bank. (Note that external transfers take 3 banking days to reach your account.)
You will be able to withdraw cash whenever you wish without losing the tax-free status of the plan, subject to withdrawal limits.
Cash withdrawal is limited to £500 per day. At least 24 hours notice is required for any amount over £500.
Cheques deposited to open the account that are returned unpaid will be debited to the account and the account closed unless a replacement cheque is received.
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 the whole balance must be transferred - no 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.
Proof of identity is required for all applicants before we can open an account. Please click here to see our 'Proving your Identity' leaflet for full details.
If you wish to make a complaint against the Society please read our 'Getting it Right' leaflet.
Conditions of Issue may vary from time to time at the discretion of the Society’s Directors.
For further terms and conditions, including information regarding cheque deposits and processing, please click to view the ‘Statement of Practice – Investors’ leaflet.
These conditions are subject to the Rules of the Society, a copy of which is available free on request. Click to contact us.
New members are required to participate in our Charitable Assignment Scheme.
Leek United is a participant in the Financial Services Compensation Scheme . Details of the scheme are available from www.fscs.org.uk (this is an external site).
Dated: 4 April 2008
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. Click here to download the PDF.
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.
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 any other person.
The initial investment must be a minimum of £10.
Under HM Revenue and Customs rules, the maximum amount that can be deposited in a Cash ISA each tax year, from 6 April 2008 is £3,600. No additional deposits can be made into an account that was previously a TESSA Only ISA account.
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 account with us or paid direct to your bank. (Note that external transfers take 3 banking days to reach your account.)
You will be able to withdraw cash whenever you wish without losing the tax-free status of the plan, subject to withdrawal limits.
Cash withdrawal is limited to £500 per day. At least 24 hours notice is required for any amount over £500.
Cheques deposited to open the account that are returned unpaid will be debited to the account and the account closed unless a replacement cheque is received.
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 the whole balance must be transferred - no 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.
Proof of identity is required for all applicants before we can open an account. Please click here to see our 'Proving your Identity' leaflet for full details.
If you wish to make a complaint against the Society please read our 'Getting it Right' leaflet.
Conditions of Issue may vary from time to time at the discretion of the Society’s Directors.
For further terms and conditions, including information regarding cheque deposits and processing, please click to view the ‘Statement of Practice – Investors’ leaflet.
These conditions are subject to the Rules of the Society, a copy of which is available free on request. Click to contact us.
New members are required to participate in our Charitable Assignment Scheme.
Leek United is a participant in the Financial Services Compensation Scheme . Details of the scheme are available from www.fscs.org.uk (this is an external site).
Dated: 4 April 2008
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. Click here to download the PDF.
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.
Please ensure that all three sets of digits are quoted otherwise your payment will not be credited directly to your account.