Limited Issue Notice ISA (App)

Account name

Limited Issue Notice ISA (App)

When you're ready to open your account, simply visit the Tipton App to find out more.

What is the interest rate?

The variable rate below applies from 1 May 2022:

• £1,000 - £24,999.99 - 0.70% Tax Free / AER
• £25,000 plus - 0.90% Tax Free / AER

Interest is calculated daily and paid annually on 5 April.

When you're ready to open your account, simply visit the Tipton App to find out more.

Can Tipton & Coseley Building Society change the interest rate?

We may change the interest rate at any time. Further details can be found in section 7 of our Savings Terms and Conditions.

When you're ready to open your account, simply visit the Tipton App to find out more.

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

The balance after 12 months on an initial deposit of £1,000 with an interest rate of 0.70% tax free / AER (variable) would be £1,006.52.

The balance after 12 months on an initial deposit of £25,000 with an interest rate of 0.90% tax free / AER (variable) would be £25,209.59.

These estimations are an illustration only and assumes that the account is opened on 6 April, there are no additional deposits or withdrawals made, interest is paid gross and compounded onto the account on 5 April, and there is no change to the interest rate.

When you're ready to open your account, simply visit the Tipton App to find out more.

How do I open and manage my account?

You must be 18 years to open an account. Joint accounts cannot be opened. 

Transfers in from other providers are permitted, up to a maximum of £50,000. Only one account per customer, at any one time.

The minimum opening balance is £1,000. You can open the account via the Tipton App only. Opening deposits must be made by electronic payment from your nominated bank account, and you must send your initial deposit within 10 working days, or the account will be automatically closed. 

To open an ISA with us we will need your National Insurance Number. 

You must keep a minimum of £1,000 in your ISA for it to remain open. Withdrawals where you take your balance below £1,000 are only allowed when closing the account. You can pay money in via the App from your nominated bank account only. The maximum deposit limit for this tax year is £20,000, which can be split between both Cash and Stocks and Shares ISA's. The maximum account balance is £100,000.

You can view your balance and recent transactions on the Tipton App, available in the Google Play Store an Apple Store.

When you're ready to open your account, simply visit the Tipton App to find out more.

Can I withdraw money?

Withdrawals will be subject to 30 days' notice being provided, or 30 days loss of interest, this also includes transfers out to other ISA providers.

Withdrawals can be made by transfer to your nominated bank account only. No withdrawals are permitted in branch or through the post. Withdrawals taking the balance below £25,000 will result in a lower rate of interest, as noted in the ‘What is the interest rate?’ section above. Withdrawals taking the balance below £1,000 are only allowed on closure of your account. If you make a withdrawal/closure without notice before 30 days’ notice is accrued, you will still experience 30 days loss of interest. If there is insufficient earned interest to cover the 30 days loss of interest then the difference will be taken from the balance in the account. 

Please note for any withdrawals from this account where the funds have not been transferred to another ISA, the funds will no longer be eligible for the tax benefits of an ISA.

We aim to complete transfers out within 5 working days. Standard branch limits apply.

When you're ready to open your account, simply visit the Tipton App to find out more.

Additional information

Interest is paid without tax deducted. If you decide within 14 days of opening, that the account is not right for you, you can have your money back without charge. We will arrange to close your ISA and return your money or switch your funds to another of our savings accounts. If you cancel your ISA within this period you’re free to subscribe to another ISA in the same tax year. Any interest paid will be exempt from tax.

Interest rates explained:

• Tax-Free - Interest earned on ISAs is tax free as long as the statutory conditions of the scheme are not breached. Tax treatment depends on your individual circumstances and may be subject to change in the future. We’ll notify you if, by reason of any failure to satisfy the provisions of the ISA Regulations, an ISA has, or will, become void. Any tax due on interest paid will be debited to the account on closure. Where a break between subscriptions lasts for a whole tax year you must make a new application before you can continue subscriptions. None of the rights of the account holder in respect of the ISA may be assigned or used as security for a loan. Tax assumptions are based on current legislation. The favourable tax treatment may not be maintained as it is the Government that is responsible for the tax treatment. Cash ISAs can remain open following the death of an account holder but will be closed when the deceased’s estate is finalised. An account will cease to be a Cash ISA if the account holder becomes bankrupt. Where we are instructed by the member or HM Revenue & Customs to cancel an ISA due to breaches of regulations, any interest paid will not be exempt from tax.
• AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

This product may be withdrawn at any time.

Issue date: 1 May 2022

When you're ready to open your account, simply visit the Tipton App to find out more.