Leeds Building Society - Online Savings

Watch your savings grow over the Internet with our
online individual savings account.

Online ISA is a simple tax-free savings account, ideal if you want the flexibility to make lump sum deposits or save regularly and still have immediate access to your money.

Of course, with the Online ISA being an Internet-based account, you can access your account at anytime¹ allowing you to check your balance, transfer money and view your statement.

The Financial Services Authority is the independent financial services regulator. It requires us, Leeds Building Society, to give you this important information to help you to decide whether our Online ISA is right for you. You should read this document carefully so that you understand what you are buying, and then keep it safe for future reference.

Summary Box Key Product Information for our Savings Account(s)
Account Name	Online ISA
Interest Rates (AERs)	See the "How much interest will I earn?" table below.
Tax Status	This is a tax-free account so interest payable is exempt from income tax.
Conditions for bonus payment	There is no bonus available on this account.
Withdrawal arrangements	Withdrawals can be made at any time without notice or loss of interest, subject to the minimum balance of £10 being maintained. If the account falls below £10 at any time, the account will be closed. The account can be closed at any time without notice or loss of interest. Withdrawals can only be made by bank transfer and the funds may take up to 5 working days to arrive at the destination account.
Access	Account can only be opened and operated online only.

How much interest will I earn?

Other Product Features:

Minimum and maximum investment and operating balance
The minimum investment is £10 and the maximum investment is £3,600 in any tax year (plus previous years' subscriptions).

When is interest paid?
Interest is paid annually on 5 April.

How is interest paid?
Interest is credited to the account.

Transfers in
To transfer your existing ISA from another ISA provider, simply complete the ISA transfer application form and we’ll do the rest.**

Transfers out
If, before maturity the Online ISA or part of it, is transferred to another ISA manager, the account will be subject to 90 days loss of interest or an equivalent amount on the amount transferred.

Benefits of our ISAs
You can open your Leeds Building Society Online ISA with as little as £10 and add to it at any time, up to a maximum of £3,600 in the 2008/2009 tax year. In subsequent years, you can invest up to the maximum subscription limit for that tax year (provided the product remains an open issue). The maximum limits are for subscriptions to an ISA only and are not affected by withdrawals.

You can make withdrawals without notice or loss of interest and your interest will continue to be paid tax-free.

Remember, if you make a withdrawal and have already subscribed the maximum amount in a particular tax year, you won’t be able to make any additional subscriptions in that tax year, as illustrated below:

What if I change my mind?
From the date of account opening, you have 14 days to notify us (in writing) if you are not happy with your choice of account. Please write to

Investment Services,
Leeds Building Society,
105 Albion Street,
Leeds
LS1 5AS.

Within that period we will, if instructed by you, refund your investment with interest from account opening, or subject to eligibility, transfer the investment to another account of your choice without any penalty for early withdrawal. Any subscriptions cancelled in this way will not count as a subscription to an ISA.

What if I have a complaint?
We aim to provide a high quality service to customers at all times. Unfortunately mistakes do occur, but when this happens we shall do our best to resolve problems or misunderstandings which arise. Should you need to refer a matter of complaint to us, details of the procedure are available from your local branch or our Customer Helpline. Ultimately your complaint may be referred to the Financial Ombudsman Service.

Important notes

¹ The Leeds Building Society Online Savings service will be unavailable each day for 1 hour between 12 midnight and 1am, while our systems update.

§ Tax-free means that interest payable is exempt from income tax.

† AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

** Please note: HM Revenue & Customs guidelines state that the ISA provider has up to 30 days to complete the transfer.

Please note: the tax treatment of ISAs may change. This is a cash ISA. You may only subscribe to (invest in) one cash ISA in each tax year (although in any such year you may also subscribe to a stocks and shares ISA, subject to the overall ISA subscription limits). By opening a cash ISA you will be limiting the amount you can subscribe to a stocks and shares ISA. For further information about ISAs (including subscription limits) please refer to the Society’s leaflet ‘Easy Step Guide to Tax-free Savings’.

Leeds Building Society is a member of the Building Societies' Association. The Society is a participant in the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Payments under the Scheme are limited to a maximum of £50,000 of an investor's total shares and/or deposits in a society. Most investors are covered, including individuals and small firms. A small number of categories of shares and deposits are not covered, for example deferred shares - permanent interest bearing shares. Although most shares and deposits are denominated in sterling, all other currencies are covered. Further details are available on request from the Society.

The Society is covered by the Financial Ombudsman Service. The Society subscribes to the Banking Code, which establishes minimum standards of good banking practice. Details of the Code are available at www.bankingcode.co.uk or in the leaflet 'The Banking code' published by the BBA/BSA.

The Society offers some investment products that may be operated through branches and by post and certain products which can be operated by post only.

Leeds Building Society is authorised and regulated by the Financial Services Authority and our registration number is 164992.

Other taxes or costs may exist that are not paid by Leeds Building Society.