Key benefits:
- Competitive tax free interest rate
- Open an account with just £10
- Maximum investment: £3,600 this tax year (or £5,100 if you are aged 50 or over)
- Make withdrawals with no penalties or loss of interest
- Online access
- Apply online
The easy-to-manage deposit account with competitive tax
free interest rates
The Wesleyan Bank Cash ISA is a flexible way to save that helps
you make the most of your tax-free allowance, with easy access to
your funds when you need them.
You can apply for a Wesleyan Bank Cash ISA account online, now.
If you have any problems doing so, contact our helpdesk by email or
phone and we'll help you fill in the form.
Before completing the application form it is important that you
read the terms and conditions below.
Apply
online
Cash ISA Specific Terms and Conditions (pdf)
Wesleyan
Bank General Terms and Conditions (pdf)
The facts at a glance
How it works
You can save up to £3,600 in a cash ISA with one provider and
the remainder of the £7,200 allowance into a stocks and shares ISA
with the same or another provider each tax year. Alternatively, you
can invest up to £7,200 in a stocks and shares ISA.
If you are aged 50 or over on or before 5 April 2010, from 6
October 2009, your annual ISA allowance for this tax year will
increase to £10,200. This means you will be able to invest up to
£5,100 in a cash ISA and the remaining balance in stocks and shares
ISA before 5 April 2010.
Alternatively, you can invest your full allowance in a stocks and
shares ISA. From 6 April 2010, these higher limits will apply to
everyone.
Paying in
You can add to your Wesleyan Bank Cash ISA at any time, so long
as you stay within the annual limits. You can pay in by cheque,
bank giro credit, or transfer funds from another Wesleyan Bank
account or Wesleyan product in your name. You can also set up a
direct debit to pay into your ISA regularly.
Withdrawals
You don't have to give notice to make withdrawals and there is
no limit to the amount you can withdraw. Withdrawals can be either
by direct transfer to a bank or building society account in your
name (specified by you when you open your account) or we can send
you a cheque.
Please note that making withdrawals does not increase the
overall amount you can pay into your ISA. Once you have reached
your limit for the tax year, you cannot pay more into the account,
even if withdrawals have reduced your balance below your annual
limit.
Access
You can operate your Wesleyan Bank Cash ISA by phone, internet
and post.
This information is based upon our understanding of current
taxation legislation, which could change in the future.
Transfer your existing ISA's
Transfers in from existing cash ISAs with another provider are
accepted into this product. When you apply please ask us for an ISA
transfer form.
Summary Box
Key Product Information
| Account Name |
Wesleyan Bank Cash Individual Savings Account (ISA) |
| Interest rates (standard rate followed by bonus
rate^) |
Current Interest Rates information |
| Tax Status |
Interest is paid tax free |
| Conditions for bonus payment |
Not applicable |
| Withdrawal arrangements |
No notice period
No charges for withdrawals
|
| Access |
Internet, telephone and post |
* AER stands for Annual Equivalent Rate and illustrates what the
interest rate would be if interest rate was paid and compounded
each year As every advert for a savings product which quotes an
interest rate will contain an AER, you will be able to compare more
easily what return you can expect from your savings over time.
** Without UK tax deducted
Resources:
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