|Balance in the account||% Gross(2)||%AERs(1)|
The interest rate is variable. Interest is calculated on a daily basis and paid into this account on the 5th April each year. The interest will be paid directly into this account with the Society.
Please refer to section 7 of the Savings Account General Terms and Conditions for details on how we calculate interest.
Details of our full range of products and current interest rates are available on request at our branches, by telephone 01257 235003 or from our website www.chorleybs.co.uk
This account has a variable rate of interest and is subject to change; this means we may increase or decrease interest rates at any time. If we reduce the interest rate and you have at least £100 in your account, we will give you 14 days notification prior to the change and you will have a period of 30 days from the date of the notification to switch or close your account.
The terms of the Easy Access Cash ISA (Issue 2) are available in branch or at www.chorleybs.co.uk/savings
Please refer to section 7 of the Savings Accounts General Terms and Conditions for further information on how and why we may change the interest rate.
Based on the current rate of interest, if you opened this account and deposited £1,000, after 12 months you would have £1,004.50.
This projection is for illustrative purposes only and does not take into account your individual circumstances. The projection is based on no additional deposits, withdrawals or changes in interest rate within the 12 month period.
You may withdraw by cash, cheque or CHAPs* (*subject to a £25 fee) and transfers out to other ISA providers can be made.
You are permitted to make 6 withdrawals per year without incurring a penalty. (the account year runs from 1st January to 31st December). Additional withdrawals will result in a lower rate of interest equivalent to the Chorley Cash ISA account rate (currently 0.20% Gross p.a./AER) being paid for the rest of the account year. At the start of the new account year the account will revert back to the Easy Access Cash ISA (Issue 2) interest rate available at that time.
Cheques requested by post for withdrawals or closures will be issued within 48 hours of receipt and posted 1st class to the account holder.
Withdrawal conditions apply; please refer to section 9 of the Savings Accounts General Terms and Conditions for further details.
Our Easy Access Cash ISA (Issue 2) is not a ‘Flexible ISA’. This means that all your deposits within the tax year count towards your ISA allowance, regardless of whether or not you make any withdrawals.
Operation in accordance with ISA Regulations
The operation of the account is subject to the applicable provisions of the ISA Regulations. The Society will notify you if, by reason of any failure to satisfy the ISA Regulations, the ISA has, or will, become void.
The Society will satisfy itself that any person to whom it delegates any of its functions or responsibilities under the terms agreed with you is competent to carry out those functions and responsibilities.
If you are found to have breached the ISA rules governing subscription limits or the number of Cash ISAs which may be opened in any one year, or your application is incorrect, your Cash ISA will cease to be exempt from tax and any interest earned in that year will be subject to tax.
Please note that the ISA investments will be, and must remain in, the beneficial ownership of the investor and must not be used as security for a loan.
Death of the Account Holder
In the event of your death no further investments will be allowed in your account. However, tax benefits of the ISA can continue until the earlier of;
You must notify the Society if you cease to be resident in the UK or if not resident, cease to perform duties as a Crown employee serving overseas or to be married to, or in a civil partnership with a person who performs such duties which allows you to subscribe to a Cash ISA. The Cash ISA will continue to be exempt from UK tax but no further subscriptions can be made until you meet the residency requirements again.
Changing your mind
In respect of this Easy Access Cash ISA (Issue 2), in order to protect your interests, we offer you a 14 day cooling off period from the date you open your account in which you can change your mind. If you cancel an account within the above period we will help you to either switch to another of our accounts or we will refund your money to you within 30 days of your notification of cancellation together with any interest that has been earned. Should you change your mind about this Easy Access Cash ISA (Issue 2) please send written notification of your cancellation to us at Head Office, Key House, Foxhole Road, Chorley, PR7 1NZ.
What to do if you’re not satisfied
If you are not satisfied with our services we operate an internal complaints procedure. A copy of this procedure is available online at www.chorleybs.co.uk or you can ask in any of our branches for details of this procedure. If we cannot settle your complaint you may be eligible to refer your concerns to the Financial Ombudsman Service.
Before applying for any of the above accounts please ensure you read the following:
Please also refer to our Identification Criteria in case we need to request more information from you
For all ISA transfer requests into Chorley Building Society please also complete an ISA transfer form
If applying by post, please ensure you print and sign before returning your application to the following address:
Savings & Investment Department
Chorley Building Society
The Society will collect your email address as an alternative means of communication if we cannot reach you via telephone. This data will not be used for any other purpose.