Employee Plus Cash ISA Issue 3

    Our Employee Cash ISA could be right for you if:

    • You're an employee of Skipton Building Society Group, or their spouse/partner.
    • You're happy with a variable interest rate that can go up or down, rather than a fixed rate that's guaranteed for a set amount of time.
    • You'd like easy access to your money and to be able to add more to the account during the tax year.
    • You want to be able to transfer in ISA savings from previous tax years, if you have any.
    • You'd like your interest to be paid once a year and to be able to choose to have your interest either added to your account, or paid into another Skipton account or a UK bank or building society account.
    More details

    Summary Box

    Summary Box

    Account name Colleague Cash ISA Issue 6
    What is the interest rate?
    Annual Interest 1.00% tax-free pa/AER
    Interest is earned daily and added to your account at midnight on the anniversary of the date your account was opened.
    Monthly Interest: No monthly interest option available.
    Can Skipton Building Society change the interest rate?
    • Yes, the interest rate is variable, so it can go up or down.
    • You'll find full details of this and the reasons why we might change the interest rate in section 22 of our Savings Account Terms and Conditions.
    • If the interest rate ever goes down, we'll always write to you in advance to let you know as long as you have at least £100 in your account.
    What would the estimated balance be after 12 months based on a £1,000 deposit?
    • The estimated balance after 12 months would be £1,010 based on the following assumptions:
      • £1,000 is paid in when the account is opened and interest starts being earned straight away
      • No further deposits or any withdrawals are made
      • The interest is paid annually and added to the account
      • The interest rate stays the same for the full 12 months
    • Estimated balances are for illustrative purposes only and may be less for accounts opened by debit card or cheque.
    How do I open and manage my account?
    • This account is available to Skipton Building Society Group employees (or their spouse/partner) aged 16 or over, and can be opened and managed in any of our branches or by post.
    • The first payment into the account can be in cash (branch only), by cheque, debit card or transfer from another Skipton account. You can also transfer ISA savings in from other providers via our ISA transfer service. After opening, you can also pay in by electronic payment (but not direct debit) or standing order.
    • You can deposit up to your total ISA allowance each tax year (£20,000 for 2017/2018), plus any ISA transfers.
    • You can save from £1 up to £1,000,000.
    • No joint accounts allowed.
    Can I withdraw money?
    • Yes, you can withdraw money from this account in branch or by post. You don't need to give us notice and there are no penalties.
    • This account is flexible, so you can withdraw money and put it back without affecting your ISA allowance, as long as it's done in the same tax year and the account is still open.
    • You can cancel the account in the first 14 days, if you need to.
    Additional Information
    • AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. All ISA interest is paid tax-free, which means it's exempt from income tax. Tax rules may change in future. The AER allows you to compare the interest rates on savings accounts. The higher the AER, the better the return on your savings.
    • It's worth noting that any of our accounts can be withdrawn from sale at any time and without notice.

    Important information

    With our Employee Cash ISA you have the flexibility to withdraw funds without any penalties, while saving up to the ISA limit, enabling you to manage your funds easily. If you withdraw all of your funds rather than transferring your ISA your savings will lose their tax-free status.

    This Cash ISA is part of our Flexible ISA range. You'll be able to withdraw money and put it back without affecting your ISA allowance, as long as it's done in the same tax year and the account remains open.

    You have 14 days from the date you receive your ISA acknowledgement letter to change your mind. You can cancel your investment by letting us know in writing during this period and your cancelled ISA will not count as an ISA subscription. Any interest that you have earned on your savings during this period will be paid gross.

    Please note that this only applies for new ISA applications, not transfers or product switches.

    Interest is paid annually into your account on 5 April.

    Alternatively you can have your interest paid into another suitable Skipton Building Society account, or other UK building society or bank account. Interest will be paid on the next working day after the date your interest is due (working days exclude Saturdays, Sundays and Bank Holidays).

    A Cash ISA allowance is available to anyone over the age of 16. Your current tax year allowance can only be held in one single account. If you would like to transfer your existing ISA to our Employee Plus Cash ISA Issue 3, please read our Transferring Your ISA page.

    If you would like to transfer your Cash ISA held with Skipton to another ISA provider, you will need to complete the ISA Transfer Authority Form supplied by your new provider.

    Annual subscriptions must always be transferred in full for the current tax year.

    You can transfer your flexible ISA to another provider, but current and previous years' ISA allowances are treated differently. If you transfer your full balance to another ISA provider, previous years' ISA savings will no longer be flexible if you've withdrawn and not replaced before the transfer happens.

    It is important that you read the Employee Plus Cash ISA Issue 3 Key Features and Terms and Conditions and carefully.

    For full details about our savings accounts you should also read our Investment Account Terms and Conditions.

    These contain the details of your agreement with us for this account and we will rely on them for our dealings with you.

    If you are not satisfied with our services we have an internal complaints procedure. For more information please call us on 0345 850 1722, ask in branch or visit our Complaints page.

    The Financial Ombudsman Service provides a free and independent service for consumers, and can be contacted at The Financial Ombudsman Service, Exchange Tower, London E14 9SR. Telephone: 0800 023 4567.



    This account can be opened in branch or via a postal application.

    Please ensure you read the account terms and conditions and the Investment Account Terms and Conditions which can be found below, before proceeding with the account opening. It is important that you read the terms and conditions carefully. These contain the details of your agreement with us for these accounts and we will rely on them for our relationship with you.

    Visit your local branch for further information and to open this account.

    Branch finder

    This account can be opened by post, download the paper application form below and return with your cheque to the address shown.

    Return your form to:

    Customer Delivery
    Skipton Building Society
    The Bailey
    North Yorkshire
    BD23 1DN

    Need help?

    Phone Call Skipton Direct: 0345 850 1722

    8am - 8pm
    8am - 5.30pm
    9am - 12pm
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