Frequently Asked Questions

Opening an account

Am I eligible to open an account?

All our accounts are open to UK residents who are at least 18 years old.

How is my money protected?

Your eligible deposits with Charter Savings Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered.
Please click here for further information or visit www.fscs.org.uk.

How do I apply for an account?

Opening an account is easy.

Online accounts

If you want an account you can apply for and manage online, all you'll need is the sort code and account number of your personal UK bank or building society account. Once you've chosen the account that's right for you on our website, click on 'apply now' to get started.

Postal accounts

If you’d prefer to manage your account by post, you can either:

apply for an account quickly and easily on our website. Once you’ve chosen the account that’s right for you, click on ‘apply now’, and you’ll have the option to manage your account by post; or
call us on 0800 032 9999 to request an application pack.

Can I open more than one account?

Yes, you can open as many accounts as you like, subject to the General Savings Conditions or any specific conditions which apply to an account.

Opening an online account

If you already have an online account, you can log in and click the ‘open another account’ button, select the type of account you’d like, and provide a few pieces of information on how you’d like your account to operate.

We’ll use the details you’ve already given us for your existing account to finish the rest of the application for you, hence saving you precious time.

If you currently have a postal account, but you’d like to open an additional online account, take a look at the different accounts available on our website. Once you’ve chosen the account that’s right for you, click on ‘apply now’ to get started.

Opening a postal account

If you already have a savings account(s) with us and you’d like to open a postal account, you can either:

apply for an account quickly and easily on our website. Once you’ve chosen the account that’s right for you, click on ‘apply now’, and you’ll have the option to manage your account by post; or
call us on 0800 032 9999 to request an application pack.

Can I open a joint account?

Yes, subject to any restrictions for particular types of account, you can have up to two account holders per account. If you have a joint account each of you can use the account, make withdrawals and close the account without the other’s approval. You will both be jointly and individually responsible for the account and we will assume each of you have an equal share of the money in the Account.

You cannot hold a joint ISA, as they are Individual Savings Accounts only.

What account opening checks do you carry out?

As with all UK savings accounts, we check your identity and address before you open an account, usually by checking a number of electronic databases. In some cases we may ask you to send identification by post.

What documents do I need to provide to confirm my identity or address?

All acceptable identity and address documents can be found within our Identity Requirements document.

Can I change my mind?

You cannot cancel or close a fixed rate bond.

For all other accounts, including all Cash ISAs, if you change your mind within 14 days of opening your account, you can cancel your account, just let us know and we’ll return your savings and any interest earned.

More information is contained in the Key Features & Summary Box document for your account.

System Requirements for online accounts

To keep your savings and your personal details safe and secure, please use the latest version of the browser you use to access the internet (e.g. Internet Explorer, Google Chrome, etc.) and/or the operating system on your computer or internet-enabled device (e.g. iPad, Android tablet, smartphone, etc.).

If you’re using any of the following, you’ll be unable to access any of your existing accounts, or apply for a new one:

Internet Explorer versions 8, 9 or 10
Any version of Internet Explorer on Windows XP or Vista.

If you’re using the Google Chrome or Mozilla Firefox browsers on a Windows XP or Vista system, you can still access your account(s) as long as they are version 49 or above.

What do I need to do?

Browsers

You can check which version of Internet Explorer you’re using by opening your browser, selecting the Help menu and then ‘About Internet Explorer’.

If you’re using one of the Internet Explorer browsers listed above, you’ll need to update it to the latest version in order to apply for an account, or be able to access our online banking area and view your savings account(s).

There are many guides on the internet that will be able to help you (you could do an internet search for ‘how do I update my browser’) or, if you prefer, you can call us on 0800 032 9999 and we’ll talk you through what you need to do.

Operating Systems

Microsoft recommends you upgrade your operating system if you’re still using XP or Vista, as they are vulnerable to viruses, malware or other security-related threats.

You can find more information on the internet on what options are open to you, especially if you visit www.microsoft.com.

If you decide to continue using one of these operating systems, and accept the risks that come with using them, you’ll only be able to use Google Chrome or Mozilla Firefox browsers (version 49 or above) to access your account(s).

What will happen if I don’t upgrade my browser and/or operating system?

You won’t be able to log in to your online savings account(s), which means you won’t be able to view your balance, arrange a withdrawal, amend any personal details or choose a new account upon maturity of any Fixed Rate account.

It also means you won’t be able to apply for a new account.

Your savings will remain safe, secure and protected by the FSCS scheme, but you won’t be able to view or manage your account(s).

Would you like further help and information?

If you have any questions relating to updating your browser and/or operating system, or anything else to do with your account, please call us on 0800 032 9999. We're open from 8am to 8pm Monday to Thursday, 8am to 6:30pm on Fridays, 9am to 5pm on Saturdays and 10am to 4pm on Sundays.

Power of Attorney

Can I open an account as a Power of Attorney?

A Power of Attorney can be set up on an existing account or, if preferred, a new account can be opened for the donor under a Power of Attorney, but please note that we can only accept a Power of Attorney which is operated on a single signature basis where more than one attorney is appointed.

We will accept the following types of Power of Attorney:

Lasting Power of Attorney

A Lasting Power of Attorney must be registered with the Office of the Public Guardian, and the date of registration must be clearly stamped on the first page.

Enduring Power of Attorney

We'll accept an unregistered Enduring Power of Attorney unless it contains a condition that it should not be used until the donor is losing or has lost mental capacity. An Enduring Power of Attorney must be registered with the Office of the Public Guardian as soon as the donor starts to lose mental capacity.

Where an unregistered Enduring Power of Attorney is presented to us, we may require written approval from the donor before opening the account.

Court of Protection Order (previously known as a Receivership Order)

A Court of Protection Order must be registered with the Office of the Public Guardian with a Court of Protection stamp on each page.

Important

We're unable to accept General Powers of Attorney.

By appointing an attorney to operate the Account, the account holder will be unable to do so.

To make an application under a Power of Attorney, please contact our customer service team on 0800 032 9999 (we're open from 8am to 8pm Monday to Thursday, 8am to 6:30pm on Fridays, 9am to 5pm on Saturdays and 10am to 4pm on Sundays).

How do I open a new Power of Attorney account?

Once you’ve chosen the type of account you’d like to open, please read the relevant Key Features & Summary Box document and visit our Useful documents to read the General Savings Conditions.

If you’re happy that the account is right for you, please call us to request an application form – you cannot apply online.

You can contact us on 0800 032 9999 (we're open from 8am to 8pm Monday to Thursday, 8am to 6:30pm on Fridays, 9am to 5pm on Saturdays and 10am to 4pm on Sundays).

If you request a Cash ISA application form between the 6th March and the 5th April each year, you will receive details relating to the following tax year (which always starts on the 6th April). The account will also be opened in the new tax year.

When you’re ready to apply, please send the following documents to us at the address on the contact us page:

General (for non-ISAs only)

The Power of Attorney Account Application Form signed by the Attorney
Proof of identity and residency for the account holder and the attorney
The Power of Attorney document or the Court of Protection Order (as appropriate)

The initial deposit can be sent once we have confirmed the account is open, as money we receive before then is not protected by the Financial Services Compensation Scheme.

Cash ISAs

The Cash ISA Application Form (ISA being opened by Attorneys)
Proof of identity and residency for the account holder and the attorney
The Power of Attorney document or the Court of Protection Order (as appropriate)
The opening deposit and/or ISA Transfer Form – please see the ISA Information Booklet for further details.

How do I register a Power of Attorney on an existing account?

Please complete and send the following documents to us at the address on the contact us page:

The Power of Attorney Application to Appoint an Attorney to Operate an Online Account(s) form or the Power of Attorney Application to Appoint an Attorney to Operate a Postal Account(s) form signed by the attorney.
Proof of identity for the attorney.
Proof of residency for the attorney.
The Power of Attorney document or the Court of Protection Order (as appropriate).

How do I cancel an attorney's authority to operate my account?

Please call us on 0800 032 9999 to discuss cancelling an attorney’s authority to operate your account.

What important information do I need to know about accounts operated under a Power of Attorney?

Key points on how you may be affected are:

If you appoint an attorney, only they will be able to operate your account – you won't be able to.
You will be responsible for the attorney(s) actions or omissions as if you'd made them yourself.
Any notices or correspondence sent by post will be sent to the mailing address for the first attorney.
We'll use the attorney(s) email address to send emails about the account.

Paying money into your account

How do I pay money into my Easy Access or Notice account?

To help protect the security of your money, any payments to your Charter Savings Bank account must be from your Nominated Account (the same UK bank or building society account you provided on your application form).

Electronic Payment (from your Nominated Account)

Simply tell your bank or building society that you would like to make an electronic payment from your Nominated Account and provide them with the following information:

our Account Number: 83495248
our Sort Code: 20-19-90
beneficiary: Charter Savings Bank
reference: your 7 digit account number and Surname

Please ensure your bank or building society correctly quotes your reference; without this we may not be able to allocate your money to your account and may have to return it without interest.

Standing Orders (from your Nominated Account)

You can ask your bank to set up a standing order from your Nominated Account for payments to be made into your account at regular frequencies. Tell your bank or building society that you would like to set up a standing order and provide them with the following information:

our Account Number: 83495248
our Sort Code: 20-19-90
beneficiary: Charter Savings Bank
reference: your 7 digit account number and Surname
frequency of payments

Cheques (from your Nominated Account)

Cheques must be from your Nominated Account.

You can send a cheque from your Nominated Account made payable to Charter Savings Bank and your application reference number or seven digit account number.

How do I pay money into my Fixed Rate bond?

Electronic Payment (from your Nominated Account)

Simply tell your bank or building society that you would like to make an electronic payment from your Nominated Account and provide them with the following information:

our Account Number: 83495248
our Sort Code: 20-19-90
beneficiary: Charter Savings Bank
reference: your 7 digit account number and Surname

Please ensure your bank or building society correctly quotes your reference; without this we may not be able to allocate your money to your account and may have to return it without interest.

Paying by cheque

Cheques must be from your Nominated Account.

You can send a cheque from your Nominated Account made payable to Charter Savings Bank and your application reference number or seven digit account number.

What is a Nominated Account?

Your Nominated Account is a personal UK bank or building society account in your name(s) which is linked to your savings account.

Money can only be transferred from, or sent to, your Charter Savings Bank account from your Nominated Account.

When will I start to earn interest on my money?

If we receive money by electronic payment such as BACS, CHAPS, Faster Payments and Standing Order you will start to earn interest on it from the working day we receive it provided we receive it before 4pm on a working day, otherwise it will be the next working day.

If we receive money by cheque, you will start earning interest on the second working day after the working day we receive it.

When will my money be available for withdrawal?

Easy Access account

If we receive money by electronic payment such as BACS, CHAPS, Faster Payments and Standing Order, it will be available for withdrawal from the working day we receive it provided we receive it before 4pm on a working day, otherwise it will be the next working day.

If we receive money by cheque (initial deposit only) you will be able to withdraw these funds on the 6th working day after we receive it.

Notice account

You must provide us with the agreed amount of notice of any withdrawal you wish to make by logging in to our online banking service at chartersavingsbank.co.uk and sending us a secure message, or calling us on 0800 032 9999 (or 0330 123 1111 if calling from a mobile phone).

Fixed Rate Bonds

You cannot make a withdrawal from or close a Fixed Rate Bond during the fixed rate period.

Operating your account

How do I log in?

If you have an online account, you can log in using the link at the top of our home page. You’ll need your user ID, password and memorable details.

How do I view my balance?

Online accounts

When you log in to your online account you'll find the details you'll need including your interest rate, product type and balance. If you also have a postal account, you’ll be able to see details for this too.

To view this information, go to the 'Account Summary' screen and select 'Account Options' followed by 'Account Details' and you'll find full details of your account.

Postal accounts

If you have a postal account, we’ll write to you with a statement each month there is activity on your account. Or you can write to us at the address found on the contact us page and we’ll let you know the balance of your account. Please remember to include your account number and signature every time you write to us.

What is the current interest rate on my account?

Online accounts

When you log in to your account you'll find all the details you'll need including your interest rate, product type and balance.

Postal accounts

If you have a postal account, please write to us at the address found on the contact us page and request the current interest rate on your account. Please remember to include your account number and signature every time you write to us.

Are there any charges for operating my account?

We don’t charge you for any of the normal things you need to do to manage your account, however there will be a charge if you request a CHAPS electronic payment.

Please see our Tariff of fees for details.

How do I withdraw money from my Easy Access account?

You can arrange a withdrawal by logging in to your online account.

Will I still earn interest if my balance drops below the minimum required for the account?

Please see your Key Features & Summary Box document for details.

How do I withdraw money from my Notice account?

You can arrange a withdrawal by logging in to your online account but remember you must allow the full notice period appropriate to your account. It is not possible to withdraw money from your Notice account without giving the full notice.

How do I withdraw money from my Fixed Rate Bond?

Withdrawals are not possible from your Fixed Rate Bond during the fixed period.

How do I cancel a future transaction?

You can cancel a future withdrawal by logging in to your online account. You'll need your user ID, password and memorable details.

When you're in your account, select 'Account Statement' to see your unprocessed instructions. Select the transaction you would like to cancel and then the 'amend' button. From here you'll be able to choose delete.

Any payments you’ve scheduled for a future date must be cancelled at least one working day before the payment is due to be sent.

How do I close my Easy Access account?

You can close your account by logging in to your online account. You'll need your user ID, password and memorable details.

When you're in your account, select ‘Make a Transaction' and arrange to withdraw all of your money. Please ensure you tick the box to confirm you would like to close the account.

How do I close my Notice account?

You can close your account by logging in to your online account, but remember you must allow the full notice period appropriate to your account. It is not possible to withdraw money from your Notice account without giving the full notice.

When you're in your account, select ‘Make a Transaction' and arrange to withdraw all of your money. Please ensure you tick the box to confirm you would like to close the account.

How do I transfer money from my Easy Access account or Notice account to another account?

Please check that the account you want to transfer your money to allows additional deposits, and then log in to your account. You'll need your user ID, password and memorable details.

Once you've logged in to your account, you'll be able to choose the account you want to transfer your money from and to, and also confirm the amount you wish to transfer.

Remember that for Notice accounts you must allow the full notice period appropriate to your account. It is not possible to withdraw money from your Notice account without giving the full notice.

What accounts can I transfer money between?

Please refer to the account Specific Conditions in the Key Features & Summary Box document (provided when you applied for the accounts) to confirm if you can make withdrawals or add further deposits.

If you didn't keep a copy, contact us and we'll confirm the details for you.

Can my account be operated under a Power of Attorney?

We will accept the following types of Power of Attorney:

Lasting Power of Attorney

A Lasting Power of Attorney must be registered with the Office of the Public Guardian, and the date of registration must be clearly stamped on the first page.

Enduring Power of Attorney

Where an unregistered Enduring Power of Attorney is presented to us, we may require written approval from the donor before opening the account.

Court of Protection Order (previously known as a Receivership Order)

A Court of Protection Order must be registered with the Office of the Public Guardian with a Court of Protection stamp on each page.

Important

We're unable to accept General Powers of Attorney.

By appointing an attorney to operate the Account, the account holder will be unable to do so.

How do I change my Nominated Account?

If you wish to change the Nominated Account linked to your online savings account, and you’re a sole account holder you can log in to your account to do this. If you’re a joint online account holder, you can log in and you’ll be asked to download and print a Change of nominated bank account form. You should then return the form to us at the address found on the contacts us page.

If you have a postal account or you are an Attorney for accounts operated under a Power of Attorney, please call us on 0800 032 9999 to request a Change of nominated bank account form and we’ll post one to you.

We'll email you when your new Nominated Account details are available to use, which is usually 6 working days after we receive your request. Until we have changed your nominated account you can continue to use your old bank account.

How do I inform you of changes to my name or address?

If any of your personal details have changed please print, complete and sign the Change of personal details form.

We may need further information to be sent with the form. If you’re changing your name we’ll require an original or certified copy of a marriage certificate, deed poll (or statutory declaration) or decree absolute together with your marriage certificate if reverting back to your maiden name.

How do I change the email address registered to my account?

You can update your registered email address by logging in to your online account. You'll need your user ID, password and memorable details.

Once logged in to your account please select 'Change details' and then 'Change email'. You’ll need to re-enter your account password before the change will be accepted.

How do I register for gross interest?

The Government has changed the way tax is charged on the interest you earn on your UK savings accounts. Previously, we automatically deducted 20% tax from the interest earned on your Charter Savings Bank accounts before we paid it to you (unless you’d registered to receive your interest gross).

On 6 April 2016, the Government introduced a tax-free Personal Savings Allowance: £1,000 a year for basic rate taxpayers and £500 a year for higher rate taxpayers (additional rate taxpayers are not entitled to a Personal Savings Allowance).

This means that you will not pay tax on the first £1,000 of interest you earn (or £500 for higher rate taxpayers) on any savings you have with us or with another bank or building society.

You can find further information in the Personal Savings Allowance guide, which will help you understand these changes and answer any questions you may have.

For Cash ISAs, you do not pay tax on the interest you earn.

How do I add a second account holder?

If you wish to apply to add a second account holder to your account please print, complete and sign the Addition of second account holder form.

Please note there is a maximum of 2 account holders per account.

You cannot add a second account holder to an ISA, as they are Individual Savings Accounts only.

How do I remove an account holder?

If you wish to remove an account holder from your account please send a letter to our postal address on the contact us page, confirming the name of the account holder who is to be removed. Please note that the letter must include your account number and be signed by both account holders.

We’ll send written confirmation as soon as the change has been made.

How do I view my statement?

Online accounts

When you're logged in your online account, you can print details of your transactions easily and quickly by following the instructions below.

To view a specific monthly statement online:

Log in to your account at chartersavingsbank.co.uk
Select the ‘Account Options’ button next to the account you’d like to view
Select ‘Monthly statement’
Select ’View’ for the monthly statement you’re interested in
Click the ‘Print’ or ‘Download PDF’ button

We recommend that you print or download your monthly statement for your future reference, as this information will not be available to view if you close your account at any time in the future.

Other date ranges

If you have an online account and you’d like to view a statement for a particular period of time:

Log in to your account at chartersavingsbank.co.uk
Select the ‘Account Options’ button against the account you’d like to view
Select ‘Account statement’
Choose whether you’d like a mini statement or a custom one covering a specific period
If you choose custom, add in the date from and date to details
Click the ‘Print’ or ‘Download PDF’ button

Postal accounts

If you have a postal account, we’ll write to you with a statement each month there is activity on your account. Or you can request a copy of your statement by writing to us the address found on the contact us page. Please remember to include your account number and signature every time you write to us.

System Requirements for online accounts

If you’re using any of the following, you’ll be unable to access any of your existing accounts, or apply for a new one:

Internet Explorer versions 8, 9 or 10
Any version of Internet Explorer on Windows XP or Vista.

If you’re using the Google Chrome or Mozilla Firefox browsers on a Windows XP or Vista system, you can still access your account(s) as long as they are version 49 or above.

What do I need to do?

Browsers

You can check which version of Internet Explorer you’re using by opening your browser, selecting the Help menu and then ‘About Internet Explorer’.

Operating Systems

Microsoft recommends you upgrade your operating system if you’re still using XP or Vista, as they are vulnerable to viruses, malware or other security-related threats.

You can find more information on the internet on what options are open to you, especially if you visit www.microsoft.com.

What will happen if I don’t upgrade my browser and/or operating system?

It also means you won’t be able to apply for a new account.

Your savings will remain safe, secure and protected by the FSCS scheme, but you won’t be able to view or manage your account(s).

Would you like further help and information?

Maturity of Fixed Rate accounts (Bonds and Cash ISAs)

What happens when my Fixed Rate account reaches its maturity date?

Online accounts

To ensure everything goes smoothly, we’ll contact you at least one month beforehand to remind you of the maturity date and ask you to log in to your online account and check your personal details are up to date.

At least 2 weeks prior to maturity, we’ll contact you again to let you know that your maturity options are available to review and ask you to choose where you’d like your savings transferred to.

Postal accounts

If you have a postal account, we’ll write to you giving you plenty of time to decide where you’d like to transfer funds to.

Postal and online accounts

Once your savings have been transferred, we’ll contact you again to confirm we have carried out your instructions and your new account (if selected) is open.

Do I need to do anything before the maturity date?

Online accounts

Please log in and check that all of your personal details are up to date including your preferred email address and your Nominated Account details (the UK bank account where you send money to and from your Charter Savings Bank account).

Postal accounts

If any of your personal details have changed, especially your postal address, please print, complete and sign the Change of personal details form and return it to the address found on the contact us page.

Important

We'll contact you when your new Nominated Account details are available to use, which is usually 6 working days after we receive your request. Your existing Nominated Account will continue to be used until then.

What can I choose to do with my savings when my Fixed Rate account matures?

Once your account reaches maturity, you can choose where you’d like to transfer your savings to. This can be to more than one place if you wish and, providing this meets the rules for the chosen account(s), we’ll make sure this happens automatically upon maturity.

You can choose to transfer your funds to:

a new account selected from the options provided either by post or on the Maturity options page in your online account
an existing account you have with us
your Nominated Account
a new account from the range available on our website

Please remember, if you choose to transfer some or all of your savings from a Cash ISA to a non-ISA account (this includes your Nominated Account), you will lose the tax free status of the amount transferred and it cannot be reinstated into another ISA in the same tax year without impacting your annual ISA allowance for that tax year.

Transfer to a new ISA provider

If you would like to transfer your savings to a new ISA provider, choose the Cash ISA Saver from the ‘Maturity options’ page. This is an easy access account that retains your tax free status and enables you to move your savings to another ISA provider at a time of your choosing.

To make an ISA transfer, you will need to contact your new ISA provider and ask to make an ISA transfer - they will then arrange this for you. Don’t forget to tell your new provider the account number(s) for all the accounts you wish to transfer.

If you choose to open the Cash ISA Saver, you will receive a new account number, so we recommend you wait until after your new Cash ISA Saver is open and you know your new account number before requesting the transfer.

Important: To avoid incurring a charge through loss of interest, tick the relevant box on the new provider’s ISA transfer form requesting that the transfer takes place after your maturity date.

How do I find my options?

Online accounts

We’ll contact you by email to confirm your options are available to review, which you’ll find by logging in to your account, identifying the account that is about to mature and selecting:

'Account Options' from the 'Account summary' screen.
'Maturity options' button (this will only show when your options are available).

Postal accounts

We’ll send you a letter confirming your options, giving you plenty of time to decide where you’d like to transfer funds to.

How do I let you know what I’d like to do?

If you’re an online customer, you can select your maturity options using your online account and the steps below.

If you have a postal account, we’ll write to you giving you plenty of time to decide where you’d like to transfer funds to. You’ll be given a form to complete and return, confirming your choices.

Selecting your maturity options online

Please log in to your account, identify the account that is about to mature and select:

'Account Options' from the 'Account summary' screen.
'Maturity options' button (this will only show when your options are available).

Once in the Maturity options page, please select where you’d like to transfer your savings to (this can be to more than one place if you wish) and, providing this meets the rules for the chosen account, we’ll make sure this happens automatically upon maturity.

You can choose to transfer your funds to:

a new account selected from the table below
an existing account you have with us
your Nominated Account
a new account from the range available on our website

Important: you don’t have to choose one of the maturity accounts we offer you

As we constantly review our accounts, you may find one you prefer on our website which you can open quickly and simply from your online banking page, or by calling us on 0800 032 9999 if you have a postal account.

Important: you must select an option no later than 2 calendar days before your maturity date.

If you don’t select an option, your savings will automatically transfer into an Easy Access Saver Account for maturing Bonds, or a Cash ISA Saver for maturing Cash ISAs. We will tell you more about the Saver account and the interest rate payable when we write to tell you about your maturity options.

Transfer to a new ISA provider

Important: To avoid incurring a charge through loss of interest, tick the relevant box on the new provider’s ISA transfer form requesting that the transfer takes place after your maturity date.

If I choose to transfer my savings into a new Charter Savings Bank account, how long will it take to set up?

If you choose to open a new account from the options provided prior to the maturity of your existing account, it will be created using the same details from your existing account. For example, if interest is paid into your existing account monthly, it will be paid into your new account monthly.

If you choose to transfer all or part of your balance to a new or an existing account with us, your savings will arrive on the maturity date. Any amount transferred to your external Nominated Account will arrive within 2 working days of the maturity date.

Transfer to a new ISA provider

Important: To avoid incurring a charge through loss of interest, tick the relevant box on the new provider’s ISA transfer form requesting that the transfer takes place after your maturity date.

If I choose to transfer all or some of my savings to my external Nominated Account, when will it arrive?

Any amount transferred to your external Nominated Account will arrive within 2 working days of your savings account maturing.

Transfer to a new ISA provider

Important: To avoid incurring a charge through loss of interest, tick the relevant box on the new provider’s ISA transfer form requesting that the transfer takes place after your maturity date.

What will happen with any unpaid interest?

If interest will be unpaid on your maturity date, and you have an online account, you’ll see an Unpaid interest section at the bottom of the page when selecting your maturity options. If this is applicable to you, you’ll be asked to confirm where you’d like any unpaid interest to be paid after your existing account has matured.

If this is not applicable to you, this section will not be displayed.

If you have a postal account, we’ll write to you letting you know that you have unpaid interest.

Please note:

if you already have interest paid to your external Nominated Account this cannot be changed and will arrive in your account on the maturity date or the next working day.
if your account matures over the weekend or on a Bank Holiday and you are transferring some or all of your savings to a new or existing Charter Savings Bank account, your interest will transfer on that day.
if your account matures over the weekend or on a Bank Holiday and you are transferring some or all of your savings to your external Nominated Account, you may earn additional interest for these non-working days which will be included in the amount transferred.

Can I make additional deposits into my new Charter Savings Bank account?

If you select a new online Charter Savings Bank Fixed Rate Bond and want to make a further deposit into it, you’ll have 14 days from the maturity date to do so.

If you have selected a new postal Fixed Rate Bond account, and want to make a further deposit into it, you’ll have 30 days from the maturity date to do so.

If you select a new Charter Savings Bank Fixed Rate Cash ISA and want to make a further deposit into it, you’ll have 30 days from the maturity date to do so.

Please use your new 7 digit account number and your surname as the payment reference – any money sent using your old account details may be returned without interest.

The total amount you can deposit will be dependent on the maximum balance applicable to the account you choose.

Please see paying money into your account for more information.

What will happen if I don’t select an option?

If you don’t select any of the options available to you, your savings will automatically transfer into an easy access account allowing you to move your savings to a new or existing Charter Savings Bank account (subject to the rules of the account) or to transfer them back to your Nominated Account if you prefer.

Transfer to a new ISA provider

Important: To avoid incurring a charge through loss of interest, tick the relevant box on the new provider’s ISA transfer form requesting that the transfer takes place after your maturity date.

Opening an ISA

What is an ISA?

An ISA (Individual Savings Account) allows you to keep your hard earned savings safe from the taxman. You don’t pay tax on the interest on cash in an ISA or on income or capital gains from investments in an ISA.

Interest from ISAs doesn’t count towards your Personal Savings Allowance.

Every tax year, the Government sets a maximum amount that can be saved in an ISA in that year – you can find details of this year’s ISA allowance on the HMRC website. The annual allowance can be split across a cash ISA, stocks and shares ISA, innovative finance ISA and lifetime ISA.

You can only subscribe to one cash ISA in each tax year (6 April to 5 April).

What type of ISAs do you offer?

We only offer Cash ISAs.

Our ISA products are similar to our standard savings accounts. You can choose from products that provide a fixed interest rate for a fixed period of time, a variable interest rate where you can make a charge-free withdrawal after providing a certain notice period, or a variable interest rate where you can make a charge-free withdrawal at any time.

Please note withdrawals from certain types of Cash ISAs may be subject to a charge by way of loss of interest – please refer to your Account’s Specific Conditions for details.

What is a Mix & Match ISA?

At Charter Savings Bank we offer a Cash ISA platform called the Mix & Match ISA. This allows you to have more than one product within your Cash ISA with us.

With our Mix & Match ISA you don’t have to put all of your annual allowance into one ISA product at the same time. For example, you could open an Easy Access Cash ISA with £5,000 and then the following month deposit £10,000 in a 1 Year Fixed Rate Cash ISA product. If you have more money available you could open a third Cash ISA product with us using the remaining £5,000 of your annual allowance.

The types of Cash ISAs you can open will depend on the products we have available at the time.

No matter how many Cash ISAs you hold with Charter Savings Bank, they will all be held within one ISA wrapper.

Are your Cash ISAs covered by the FSCS (Financial Services Compensations Scheme)?

Yes, your eligible deposits with Charter Savings Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered.

For further information, please read this guide to the Financial Services Compensation Scheme or visit www.fscs.org.uk.

Will the interest earned count towards my Personal Savings Allowance?

No. Interest earned in an ISA does not count towards your Personal Savings Allowance.

Can I have more than one ISA?

You can only subscribe to one cash ISA in each tax year (6 April to 5 April) however you can hold more than one Cash ISA product within the Charter Savings Bank Mix & Match ISA to suit your needs (e.g. one Fixed Rate Cash ISA, one Easy Access Cash ISA).

Subscriptions to one or more of our ISA products in a tax year doesn’t constitute a subscription to another Cash ISA in that tax year.

Please note even if you have paid new funds into a cash ISA this tax year and don’t wish to transfer those, whilst you can’t pay new funds to an ISA product with us in the same tax year you can still transfer funds from ISAs with another ISA provider for previous tax years.

Do you accept Additional Permitted Subscriptions (APS)?

No, we don’t accept Additional Permitted Subscriptions.

Please note: The tax treatment of ISAs may change in the future and is based on your individual circumstances.

Paying money into your ISA

How do I pay money into my Cash ISA?

Simply tell your bank or building society that you would like to make an electronic payment from your Nominated Account and provide them with the following information:

our Account Number: 83495248
our Sort Code: 20-19-90
beneficiary: Charter Savings Bank
reference: your 7 digit account number and Surname

Please ensure your bank or building society correctly quotes your reference; without this we may not be able to allocate your money to your Account and may have to return it without interest.

Standing Orders (from your Nominated Account)

Standing orders can only be made into a Notice or Easy Access Cash ISA – they cannot be made into a Fixed Rate Cash ISA. Any payment received that would take you above your annual ISA allowance will be returned to your Nominated Account without interest.

You can ask your bank to set up a standing order from your Nominated Account for payments to be made into your Account at regular frequencies. Tell your bank or building society that you would like to set up a standing order and provide them with the following information:

our Account Number: 83495248
our Sort Code: 20-19-90
beneficiary: Charter Savings Bank
reference: your 7 digit account number and Surname
frequency of payments

Cheques for initial deposits only (from your Nominated Account)

Cheques are only accepted for initial deposits when opening a new Account and must be from your Nominated Account.

You can send a cheque from your Nominated Account made payable to Charter Savings Bank and your application reference number or seven digit account number.

Transfer from another Charter Savings Bank account

If you’d like to transfer money from a postal account, you’ll need to wait until it reaches maturity. We’ll write to you giving you plenty of time to decide where you’d like to transfer funds to.

If you have an online account, log in to your account, select the account you wish to make the transfer from, the amount and the account you wish to transfer to. The money will reach your Cash ISA within one working day of the date you request the transfer.

How much can I deposit into my Cash ISA?

Every year, the Government sets a maximum amount that can be saved in an ISA in that year – you can find details of this year’s ISA allowance on the HMRC website.

The annual allowance can be split across a cash ISA, stocks and shares ISA, innovative finance ISA and lifetime ISA.

You can only subscribe to one cash ISA in each tax year (6 April to 5 April).

Can I split my allowance between ISAs?

You can split your annual ISA allowance between multiple Cash ISA products held with us.

Your Cash ISA products will be held within our Mix & Match ISA and will count as one Cash ISA for the purposes of your annual allowance and for reporting to HMRC.

Subscriptions to one or more of our ISA products in a tax year doesn’t constitute a subscription to a second Cash ISA in that tax year.

Operating your ISA

Are there any charges for operating my Cash ISA?

We don’t charge you for any of the normal things you need to do to manage your Cash ISA, however there will be a charge if you request a CHAPS electronic payment.

We may also make a charge by way of loss of interest if the Specific Conditions of your Account allow you to make a withdrawal or transfer from your Account during any fixed rate period or without giving any notice that would normally be required. For more information please check the Specific Conditions of your Account.

In addition we can make charges to you in accordance with the General Savings Conditions, which you can find in our Useful documents, and from time to time you may ask us to carry out certain other things that do incur charges, but we’ll always let you know beforehand.

Please see our Tariff of fees for details.

Can I make a withdrawal from a Fixed Rate Cash ISA?

Yes, although this will be subject to a charge by way of loss of interest, the amount of which depends on the term of your Account. Please refer to your Account’s Specific Conditions for details which are part of the Key Features & Summary Box document which you accepted when you applied for your Account.

Any amounts you withdraw will no longer be held in your Cash ISA. This means that any tax benefits in respect of the amount withdrawn will be lost and the money withdrawn cannot be reinstated in your Cash ISA later in that tax year without impacting your annual ISA allowance for that tax year.

If you experience any difficulty requesting a withdrawal or transfer to another account with us then please phone us as this may be because the amount of the charge exceeds the interest due.

If you wish to make a withdrawal, please log in to your Account.

Can I make a withdrawal from a Notice Cash ISA?

Yes, although you will be required to give a number of days’ notice before accessing the funds. You can, alternatively, make a withdrawal at any time, without giving notice, but this will be subject to a charge by way of loss of interest. The amount of notice required or charge by way of loss of interest made depends on the notice period of your account. Please refer to your Account’s Specific Conditions for details which are part of the Key Features & Summary Box document which you accepted when you applied for your Account.

If you experience any difficulty requesting a withdrawal or transfer to another account with us then please phone us as this may be because the amount of the charge exceeds the interest due.

If you wish to make a withdrawal, please log in to your Account.

When will my money be available for withdrawal?

If we receive money by electronic payment such as BACS, CHAPS, Faster Payments and standing order, it will be available for withdrawal from the working day we receive it provided we receive it before 4pm on a working day, otherwise it will be the next working day. This also applies to electronic ISA transfers from your previous ISA provider.

If we receive money by cheque (initial deposit only) you will be able to withdraw these funds on the 6th working day after we receive it. This also applies to paper ISA transfers from your previous ISA provider where we receive the funds being transferred by cheque.

How do I withdraw money from my Cash ISA?

You can arrange a withdrawal by logging in to your online account. You’ll need your User ID, password and memorable details.

Please note withdrawals from certain types of Cash ISAs may be subject to a charge by way of loss of interest, or require notice to be given – please refer to your Account’s Key Features & Summary Box document for more information.

If you experience any difficulty requesting a withdrawal then please phone us as this may be because the amount of the charge exceeds the interest due.

Can I transfer my existing ISAs from another provider?

Yes. You can transfer all of this year’s subscriptions and those from previous years when you open a new Cash ISA with us. You can provide us with the details of your request during the online application; this can also be done after you have opened a Cash ISA with us by downloading the relevant Transfer Authority Form from our Useful Documents page.

You can transfer from one cash ISA into a new one with a new provider, and you can also transfer money from an existing stocks and shares ISA into a cash ISA.

When transferring an ISA you should always make sure you do it through an ISA transfer request with your bank or building society, otherwise if you make a withdrawal it will no longer be held in your Cash ISA. This means that any tax benefits in respect of the amount withdrawn will be lost and the money withdrawn cannot be repaid into a Cash ISA later in that tax year without impacting your annual ISA allowance for that tax year.

If you want to transfer your Cash ISA for the current tax year you must do so in full. If you have already subscribed to an ISA with another ISA provider in this tax year, you should not make a deposit into an ISA with us for this tax year until the ISA has been transferred in full.

You should check the terms and conditions of the ISA you are transferring from, before you request the transfer as there may be restrictions or charges that apply if you are transferring.

Can I transfer my Charter Savings Bank Cash ISA to another provider?

We hope you choose to stay with Charter Savings Bank, however it is possible to transfer your Cash ISA to another provider should you wish to.

You must not withdraw any funds from the account and pay them to your new ISA as those funds will lose their ISA status. You must request the transfer through your new ISA provider, making a separate request for each Cash ISA product you have with us.

You will need to provide them with:

our name: Charter Court Financial Services (Charter Savings Bank)
our Account Number: 83495248
our Sort Code: 20-19-90
the account number of each Charter Savings Bank Cash ISA product you want to transfer

If you wish to transfer subscriptions you have made to your Cash ISA with us for the current tax year, you will need to transfer all of those subscriptions in full. For example, if you have a 1 year Fixed Rate ISA and an Easy Access ISA within our Mix & Match ISA platform, you will need to transfer all deposits made in that tax year for both Cash ISA products. In these circumstances you will need to give your new provider the account numbers for the products you wish to transfer.

For Fixed Rate Cash ISAs, you can transfer your Cash ISA to another provider within the fixed rate period, however you will incur a charge by way of loss of interest on each amount you transfer as detailed in the Key Features & Summary Box document.

For Notice Cash ISAs, you can transfer your Cash ISA to another provider within the notice period, however you will incur a charge by way of loss of interest on each amount you transfer as detailed in the Key Features & Summary Box document.

We will continue to pay interest on your savings up to the day your money is sent to your new provider, which will be within 5 working days of us receiving the fully completed ISA Transfer Instruction Form from your new provider.

What happens when my Fixed Rate Cash ISA reaches its maturity date?

At least 2 weeks prior to maturity, we’ll contact you again to let you know that your maturity options are available to review and ask you to choose where you’d like your savings transferred to.

If we don’t hear from you, we’ll transfer your savings into a Cash ISA Saver.

How do I close my Cash ISA?

You can close your account by logging in to your online account. You'll need your user ID, password and memorable details.

When you're in your account, select ‘Make a Transaction' and arrange to withdraw all of your money. Please ensure you tick the box to confirm you would like to close the account.

Dependent upon which type of Cash ISA you hold, there may be restrictions or charges by way of loss of interest when closing it. Please see your Key Features & Summary Box document for details.

If you experience any difficulty closing your Account with us then please phone us as this may be because the amount of the charge exceeds the interest due.

Can I change my mind?

Plans can sometimes change, so if you decide within 14 days of opening your Cash ISA that it’s not right for you and you’d like to cancel your ISA, please call us on 0800 032 9999 or send a secure message from your online Account using your login details, and we’ll close your Account and return your savings as well as any interest you’ve earned.

Please see the Points to Note in the Key Features & Summary Box document for more information.

Your security

How can I help keep my online account(s) secure?

It's vital that you take care of your Personal Security Details and selected personal information, to help prevent fraud and protect your Account(s).

We may contact you if we suspect or if you inform us that there are unusual transactions on your Account(s).

For more information on your responsibilities for ensuring the security of your Account(s), please refer to Paragraph 15 (Security and some of your key responsibilities) in your General Savings Conditions, which you can find in our Useful documents.

I've forgotten my password - what do I do?

You can reset your password in minutes simply by clicking the 'Log in' button on our website and then clicking the 'Forgotten Password?' button.

Someone else may know my password or memorable details - what do I do?

You must tell us as soon as possible by logging in to our online banking service and sending us a secure message or calling us on 0800 032 9999 (or 0330 123 1111 if calling from a mobile phone).

System time-out

For your security we will automatically log you out of your account after a period of inactivity.

Whilst you should always log off whenever you leave your computer, the automatic time-out provides additional protection.

Keep your internet browser and operating system up-to-date

It’s important to keep the devices you use to access your online banking up-to-date - this includes your operating system and your browser, so that your computer has the latest security upgrades to help keep it safe.

See System Requirements for online accounts for more information.

Online Banking Commitment

Keeping your money safe is important to us. You should check your statement regularly and tell us about any unauthorised withdrawals as soon as possible. We'll normally refund any unauthorised withdrawals and any lost interest provided you’ve taken reasonable precautions to keep your security details safe and not acted fraudulently.

For more information and guidance on this, on security and your part in keeping your details secure please see the General Savings Conditions in our Useful documents. If you believe someone may know your password or memorable details, please contact us immediately. We’ll check your account and set up new security details straight away.

Help

Financial Services Compensation Scheme

Your eligible deposits with Charter Savings Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered. Please click here for further information or visit www.fscs.org.uk.