new! Cash ISA limits increased
In the 2009 Budget Report published on 22 April 2009, the Chancellor announced plans to increase the annual Cash ISA allowance from £3,600 to £5,100.
This increase will apply to all Cash ISA customers from the beginning of the next tax year, 6 April 2010. However, if you are aged 50 or over in this tax year (6 April 2009 to 5 April 2010) then you can take advantage of the increase from 6 October 2009.
If you are eligible and have opened any of our Cash ISAs in this tax year from 6 April 2009 to 6 October 2009, you will be able to make additional deposits into your account up to the new limit of £5,100 until 5 April 2010. This includes Fixed Rate Cash ISAs that are no longer available to new customers.
If you open a new Fixed Rate Cash ISA after 6 October 2009, you can still deposit up to the new limit of £5,100, but this will be subject to our usual terms and conditions whereby customers may only subscribe during the offer period.
how to top up your Cash ISA
Making an additional deposit is easy, you can choose to add to your account in the following ways:
top up in a branch
Visit your nearest branch1 and deposit by cash or cheque2.
Find your nearest branchtop up by post
There are two options to choose from if you are applying by post:
- send a cheque to our Head Office address stated below
- transfer from an existing Northern Rock account (not online operated) by sending your written instructions along with the passbook, if applicable, to the address below:
Savings Department
Northern Rock House,
Gosforth,
Newcastle upon Tyne
NE3 4PL.
top up online
If you are transferring from an existing Northern Rock account that is operated online, follow these simple steps:
- log on to your online account
- select 'Northern Rock Transfer' from the 'Take Money Out' menu option
- transfer the top up amount to your Cash ISA (Your account number will appear in the top right hand corner of your statement and will contain 5 numbers followed by a letter, then a hyphen, then a further 5 numbers.)
other electronic options
You can also choose to transfer funds electronically in the following ways:
- via telegraphic transfer (CHAPS3) by asking your bank to send us a payment quoting your account number and the following:
- other electronic means (Faster Payments Service, BACS, Standing Order) by asking your bank to send us a payment quoting your account number and the following details:
| Sort code: | 08-02-65 |
| Account number: | 50048407 |
| Reference: | Your Cash ISA account number and your name |
| Sort code: | 08-61-15 |
| Account number: | 00000515 |
| Reference: | Your Cash ISA account number |
transfer your cash ISA from
another provider
If you have a Cash ISA with another provider and you wish to transfer your funds to Northern Rock, all you need to do is complete a transfer authority form and we’ll do the rest!
You can download the transfer authority form, complete one in a branch or contact us on 0845 600 7301*.
If you have any questions about your Cash ISA please visit our frequently asked questions page or contact us on 0845 600 1568*.
remember
Please note that under HM Revenue & Customs guidelines, you can only subscribe to one Cash ISA in this tax year (6 April 2009 to 5 April 2010).
From 6 October 2009 for anyone born on or before 5 April 1960, the overall ISA subscription limit will increase to £10,200 (Cash and Stocks and Shares) of which up to £5,100 of the new ISA limit can be saved in a Cash ISA with one provider.
The changes in subscription limits do not affect your ability to withdraw from your account, please refer to the terms and conditions and account information you received upon opening your Cash ISA for further details.
1. Not all of our branches can offer full banking services. Any facility which is not available at your local branch, excluding cash deposits and general cash transactions, can be processed at our Head Office.
2. Please make the cheque payable to 'Northern Rock for the account of (insert account holder's name)' and crossed 'A/c Payee Only'. Please ensure you sign and date the cheque and also include your Account Number on the reverse.
3. A charge of £35 will be incurred for a CHAPS transfer
*Lines are open 8am to 8pm business days, 8am to 4pm Saturday and 10am to 3pm Sunday. Calls are charged at your service provider's prevailing rate and may be monitored and recorded.
top up your ISA