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The Second Issue Individual Savings Account is a Cash Individual Savings Account (ISA) which provides valuable protection from income tax for your savings, helping you to make the most of your money.

This account is available exclusively for current National Counties savings customers as at 1 December 2016.

 

The Cash ISA key features are:

 

  • Tax-free interest earned from the day we receive your investment (subject to identification requirements being met)

  • Savings up to the annual statutory limit of £20,000

  • Minimum balance of £1

  • Transfers from flexible and non-flexible Cash ISAs are accepted

  • Withdrawals available without notice and without an access charge

  • Transfer to another ISA provider allowed

 

The information provided below is a summary of the key features of the account and is not intended to be a substitute for reading the Product Features leaflet and General Conditions for our Savings Account booklet.


Summary box

Account name

Second Issue Cash ISA

What is the interest rate?

Rates effective from 24 May 2017Tax-free1 AER2
 £1+ 0.81%
Interest is calculated daily and paid annually on 1 October

Can National Counties Building Society change the interest rate?

Yes, the interest rate is variable and may be changed. Please refer to Section 14 of the General Conditions for our Savings Accounts booklet for more information on when we may make changes to the interest rate and how this will be communicated

What would the estimated balance be after 12 months based on a £1,000 deposit?

Opening balanceProjected balance (Gross)
£1,000£1,008.10
  • This projection assumes that the account is opened with the stated amount with no additions or withdrawals made. Projected balance is at the end of 12 months
  • All projections are provided for illustrative purposes only and do not take into account individual circumstances
  • Actual interest may depend on the date the account is opened and the date that interest is paid

How do I open and manage my account?

  • This account is available exclusively for current National Counties savings customers as at 1 December 2016
  • The Cash ISA can be applied for by post, online, or at our Epsom branch
  • Transfers from flexible and non-flexible Cash ISAs are accepted
  • A minimum of £1 must be deposited
  • Additions are allowed but not required on a regular basis
  • An annual statutory limit of £20,000 can be deposited, plus transfers of previous tax years' subscriptions
  • A maximum of £150,000 may be held in the account
  • Instructions for the account can be made via the Online Service, telephone, branch and post

Can I withdraw money?

  • Withdrawals are available without notice or access charge and can be paid by bank transfer, cheque or cash. Please see the 'Taking money out' section of the Product Features leaflet for full information
  • Transfer to another ISA provider is allowed

Additional information

TAX STATUS: Tax-free (the future tax treatment of Individual Savings Accounts may vary)
 

This product is not a flexible ISA. Transfer in of flexible ISAs is allowed, however you will lose the flexibility of being able to replace withdrawn funds.

This issue may be withdrawn at any time without prior notice.

1 Interest is paid tax-free as it is currently exempt from income tax. The future tax treatment of Individual Savings Accounts may vary.

2 AER stands for Annual Equivalent Rate and illustrates what the annual rate would be if interest was compounded.

All financial information correct on 24 May 2017.

 

How to apply – Transfer of an existing Cash ISA only

You can apply to transfer an existing Cash ISA to a new Second Issue Cash ISA Account in the following ways:

  • By post: Download an application pack
  • By visiting our Epsom branch, which can be found in Ashley Square, Epsom, Surrey, KT18 5DD
  • Request an application pack over the phone: Call us on 03300 243413

Please note, you can’t apply online to transfer an existing Cash ISA into a new Second Issue Cash ISA if you are not adding new money as part of this year’s ISA subscription. However, you will be able to manage your account online once it has been opened.  

To transfer your existing Cash ISA to the National Counties Building Society, you will need to complete and send us both a Second Issue Cash ISA application form (click on “Download an Application pack” above right) AND a Cash ISA Transfer Authority Form. We will then notify your current ISA provider so that the transfer can begin in line with their terms and conditions. The process can take up to 15 working days from receipt of an application form and transfer request form to the new account being opened.  It varies depending on the speed with which your existing ISA manager responds to our request.

 

How to apply – Current year’s ISA subscription

You can apply to open a Second Cash ISA Account with money for this year’s ISA subscription in the following ways:

  • Online
  • By post: Download an application pack
  • By visiting our Epsom branch, which can be found in Ashley Square, Epsom, Surrey, KT18 5DD
  • Request an application pack over the phone: Call us on 03300 243413

If you are transferring an existing Cash ISA to National Counties Building Society as well as adding money as part of this year’s ISA subscription, you will need to complete a Cash ISA Transfer Authority Form as well as a Second Issue Cash ISA application form (obtained either from your online application or the “Download an Application pack” link above right). On receipt of these we will then notify your current ISA provider so that the transfer can begin in line with their terms and conditions. The process can take up to 15 working days from receipt of an application form and transfer request form to the new account being opened.  It varies depending on the speed with which your existing ISA manager responds to our request.

 

Use of a debit card to deposit savings

Please note that the debit card you use to deposit money via the Online Service should be registered to the address we hold for you.

Subject to limits imposed by the issuer, you can use your debit card to add from £10 up to the annual statutory limit of £20,000 for the current tax year to your account using the facility within the Online Service.

Operating an account on behalf of someone else

This account is available for operation by Third Parties, Attorneys and Deputies. For information on how to set up any of these on your accounts please refer to our FAQs page where all the information you should need can be found.

If you have already set up Power of Attorney, a Deputy or Third Party and wish to open this account, please also refer to our FAQs page where you can find details of the forms we require.

If you have any further account opening queries please contact our New Savings Account Enquiry Team on 03300 243413.

Inheritance of ISA savings

If you would like to find out more about the features of inheriting ISA savings from a spouse or civil partner, please visit our FAQs page where you can find more information.

Interest rates

To see all of our current Cash ISA rates please click here: Cash ISA rates.


Can't find the account that's right for you?

We have a number of other savings accounts that are available under our Family Building Society brand.

These include fixed rate and tracker bonds, flexible ISAs, as well as the Windfall Bond and accounts specifically designed for children and those saving for their first home.

Visit the Family Building Society website for details of our full range of savings accounts.

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