e-saver – using your account

The E-Saver Account is available to all permanent UK residents aged 16 years and over.

It can be opened by an individual or jointly between two people. Only one E-Saver account can be opened per customer within each issue, whether this is a sole or joint application.

You can invest any amount from £1 up to the maximum deposit limit which is detailed in the 'Summary Box'. Joint accounts will also be subject to the maximum deposit limit.

Please note, the maximum holding with Northern Rock is £2 million per customer, so if you have more than one account with us, the combined balances must not exceed this limit.

Please note that accounts operated as Power of Attorney cannot be administered or opened online. All transactions and enquiries must be made via post.

Your initial deposit can be made by:

• transfer from your bank or building society account once you have been advised of your new account number;
• cheque sent to our Head Office with a deposit request form or visit your local Northern Rock branch*. Please make the cheque payable to 'Northern Rock for the account of (insert account holder(s) name(s))' and crossed 'A/c Payee only'. Please also quote your account number on the reverse. The minimum deposit via cheque is £250; or
• online transfer from an existing online account; or
• transfer from an existing Northern Rock account (any withdrawal restrictions on your existing account may apply).

Once you have completed your application for an E-Saver Account, you will be provided with your new account number. If you have opened your new account by closing and transferring an existing online account, you will keep the same account number. You will then receive a welcome letter through the post within five business days. This will include further information about how to operate your account.

You can add to your account at any time by:

• transfer from another Northern Rock account (subject to the terms and conditions of that account)
• complete a transfer request form and return to our Head Office or visit your local Northern Rock branch*;
• cheque sent to our Head Office with a deposit request form or visit your local Northern Rock branch*. Please make the cheque payable to 'Northern Rock for the account of (insert account holder(s) name(s))' and crossed 'A/c Payee only'. Please also quote your account number on the reverse. Minimum deposit via cheque is £250. Cheques drawn in foreign currency or on a foreign address cannot be accepted; or
• electronic transfer (BACS, CHAPS, FPS or Standing Order) from your bank or building society account. The following details need to be quoted for an electronic transfer:

Faster Payments /BACS Transfer (Bankers Automated Clearing Service)	CHAPS Transfer (Clearing House Automated Payment System)
Sort code: 08-60-64	Sort code: 08-02-65
Account number: Your online account number	Account number: 50048407
	Reference: Your online account number and your name

The following details need to be quoted for a CHAPS transfer from a bank outside the UK:

CHAPS Transfer (Clearing House Automated Payment System)
Sort code: 08-00-51
Account number: 50048407
Reference: Your online account number and your name BIC No. CPBKGB22 IBAN No. GB04CPBK08005150048407

The Faster Payments Service aims to process transfers in near real time. However, restrictions may apply. For more details of the Faster Payments Service, see the Faster Payments section of Customer Info.

BACS transfers should reach your account within three business days after they are sent. CHAPS transfers should reach your account the same day they are sent (please note your bank may charge for this service).

Simply log onto your account and arrange to transfer money to your nominated account or to another Northern Rock account (subject to the terms and conditions of that account).

For transactions carried out before 4pm on a business day, the money will usually be credited to your account within three business days (up to a maximum of £200,000) and there is no charge for this service.

If you need funds more quickly, then provided you make your request by 1pm, we can arrange a CHAPS transfer and the funds will normally reach your nominated bank or building society account on the same business day. You can transfer any amount up to the credit balance in your account and a charge of £35 will be made for this service.

You can also transfer to another Northern Rock account. Simply enter the Northern Rock account number and the amount you wish to transfer.

On occasion we may need to verify your identity in order to carry out any instructions you may have given us. Keeping your contact details up to date, will help to avoid delay.

You can amend your details once you've logged in to your account by selecting the relevant amend details option from the 'account options' list. You will then be able to enter your new details.

Please keep us up to date with your personal details and email address.

If you do not need to pay tax on your savings interest, please complete an R85 form for each account you hold with us, and return these to us either via your local branch or our Head Office.

For joint accounts, interest can be paid part net / part gross. So if you don't pay tax, you can still claim gross interest on your equal share.

You can also request a Certificate of Tax Deducted by logging onto your account and highlighting the account for which you require a Certificate. Select 'Go' and then select the 'Customer Services' option followed by 'Request Tax Certificate'. Select the relevant year, then submit your request. You will receive your Certificate of Tax Deducted through the post within five business days.

With E-Saver you can choose to have your interest paid annually or monthly:

• Annual interest is paid on 11 March each year. It can be added to your account, transferred to any Northern Rock account (except ISAs) or paid by electronic transfer into an account with another bank or building society. We credit interest to your account on the next business day following calculation.
• Monthly interest is paid on the 10th of each month and is available on the next business day. It can be transferred into any Northern Rock account (except ISAs), paid by electronic transfer into an account with another bank or building society or added to your account.

If you have requested your interest to be sent to another bank or building society account please allow up to three business days for receipt.

Your interest is calculated daily and adjusted automatically as the balance in your account changes. For joint accounts, interest can be paid part net / part gross, so if you don't pay tax, you can still claim interest on your equal share.

Where the balance falls below £1, interest will be earned at the prevailing basic rate, currently 0.10% gross p.a.

We make charges for some standard services that we make available to you. Full details are available in our savings 'Charges Leaflet'.

E-Saver has been developed with security as a top priority. We have implemented several layers of security and provide a high level of encryption.

Full details about our approach to Internet security can be found in the frequently asked questions section.

We have to provide HM Revenue & Customs with information about the amounts of interest our depositors receive. Therefore, you should include the amount of interest paid on your annual Income Tax Return. If you are a non-taxpayer you may be eligible to have your interest paid gross. You can download a HM Revenue & Customs R85 registration form, and notes on who can qualify for gross interest are available on request from our branches, Northern Rock's Head Office and also from your local tax office.

If you are eligible a HM Revenue & Customs R85 registration form must be completed for each account holder and for each account. Previous registrations will not cover any new accounts which you open.

Please note, the tax treatment or the rate of interest payable depends on the individual circumstances of each banking customer and may be subject to charge in the future.

Please ensure that you have read and understood this product information and the Savings Terms and Conditions before you open an account.

Your online account is classed as a 'payment account', which means that you can use this account to make payments in and out of your account with few restrictions. For example, you can make a withdrawal without having to give notice. Full details of how you can operate your account are contained in this page, the Savings Terms and Conditions and the 'Summary Box'.

Please note, the maximum holding with Northern Rock is £2 million per customer, so if you have more than one account with us, the combined balances must not exceed this limit.

Northern Rock is a member of the Financial Services Compensation Scheme (the 'Scheme') established under the Financial Services and Markets Act 2000. Payments under the Scheme are limited to 100% of the first £50,000 of a depositor's total deposits with the bank. The Scheme limit relates to each depositor for their combined deposits held with Northern Rock and not for each account. In the case of a joint account, the Scheme will assume that the money in the account is split equally between account holders, unless evidence shows otherwise. If you have any further queries about the Scheme, more information can be found on the Scheme's website www.fscs.org.uk.

If you have a complaint, you should telephone us or write to us as soon as possible so that we may investigate the circumstances. You can write with details of your complaint to the Customer Support Team, Northern Rock plc, Gosforth, Newcastle upon Tyne, NE3 4PL or via email to customersupport@northernrock.co.uk. To raise your complaint by telephone, please contact the department you usually deal with.

If we cannot resolve the complaint to your satisfaction you have the right to refer your complaint to the Financial Ombudsman Service, which provides independent adjudication of complaints. A copy of our Internal Complaint Procedures leaflet is available.