E-Saver - using this account

E-Saver 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, whether this is a sole or joint application.

You can invest any amount from just £1 up to a maximum deposit limit which is detailed in the 'rates for this account' section

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 registered Head Office. In the interest of security please make your cheque payable to 'Northern Rock for the account of (insert Account Holder(s) name(s))' and crossed 'A/c Payee only'. Minimum deposit via cheque is £250;
• 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, up to the maximum deposit limit of the account at any time by:

• transfer from another Northern Rock account - complete a transfer request form and return to our registered Head Office;
• cheque sent to our registered Head Office with a deposit request form. 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; or
• electronic transfer from your bank or building society account. The following details need to be quoted for an electronic transfer.
• If a deposit results in your Account exceeding the maximum deposit limit we will return the deposit to you in full. This does not include any interest paid if you requested interest to be added direct to your Account.

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

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 E-Saver Account within three business days after they are sent. CHAPS transfers should reach your E-Saver 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 5pm 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 – and we’ll keep you up to date with our news.

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 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 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 working 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 E-Saver Account, transferred to any Northern Rock account or paid by electronic transfer into an account with another bank or building society. We credit interest to your Account on the business day following calculation.
• Monthly interest is paid on 10th of each month and is available on the next working day. It can be transferred into any Northern Rock account, paid by electronic transfer into an account with another bank or building society or added to your E-Saver Account.

With interest payments sent to another bank or building society account, please allow up to four working days for receipt.

Your interest is calculated daily and adjusted automatically as the balance of your Account changes. For more information regarding how we calculate interest please refer to our interest calculation leaflet.

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

If we change the rate of interest on your Account we will notify you personally via secure email at least the day before it becomes effective. It is therefore important that you ensure your email address is complete and kept up to date.

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 Help section.

An Online helpful information document is provided in Adobe Acrobat PDF format. This will assist you with our most frequently asked questions.