Single Access ISA (App) (Issue 2)

Account name

Single Access ISA (Mobile App Account) (Issue 2) 

When you're ready to open your account, simply visit the Tipton App to find out more.

What is the interest rate?

The tiered variable rates below apply from 22 November 2024. Interest is paid at the same rate on the whole balance of the account. Interest is calculated daily and paid annually on 5 April.

£5,000 - £9,999.99 - 4.60% tax free/AER
£10,000 - £24,999.99 - 4.60% tax free/AER
£25,000 - £100,000 - 4.60% tax free/AER

When you're ready to open your account, simply visit the Tipton App to find out more.

Can Tipton & Coseley Building Society change the interest rate?

We may increase or decrease the tiered interest rates at any time. Further details of when we do this and how we will let you know, can be found in our Terms and Conditions for savings accounts, available on our website, in branch or in your welcome pack.

When you're ready to open your account, simply visit the Tipton App to find out more.

What would the estimated balance be after 12 months based on a £5,000 deposit?

The balance after 12 months based on an initial deposit of £5,000 with an interest rate of 4.60% Tax Free/AER (variable) would be £5,230.00.

The balance after 12 months based on an initial deposit of £10,000 with an interest rate of 4.60% Tax Free/AER (variable) would be £10,460.00.

The balance after 12 months based on an initial deposit of £25,000 with an interest rate of 4.60% Tax Free/AER (variable) would be £26,150.00.

These estimations are an example only and assumes:

• there are no additional deposits or withdrawals made;
• interest is paid gross and added to the account on 5 April; and
• there is no change to the interest rate.

These estimations are only examples, and do not take into account any individual circumstances. 

When you're ready to open your account, simply visit the Tipton App to find out more.

How do I open and manage my account?

You can open the account via the Tipton App only, available in the Google Play Store and Apple Store. To view our acceptable identification, please click here.

To open and operate your account with the Tipton App, you will need to choose a bank account as your nominated bank account. This means all deposits into your Single Access ISA (App) (Issue 2) must come from this nominated account. You can add money to your account by electronic payment from your nominated bank account, and will be shown on your App transactions the next working day.

Joint accounts cannot be opened. Only one account can be opened per customer. The account is available to anyone aged 18 or over. 

The account is only available for UK residents and your National Insurance Number will be needed at the time of account opening. 

The minimum amount to open this account is £5,000. You must have at least £5,000 in the account to keep it open. Withdrawals taking the balance below £5,000, will only be allowed when you are closing your account. Opening balances must be made by electronic payment from your nominated bank account, and must be sent within 14 days, or the account will automatically be closed. The maximum amount that can be held is £100,000 per account. 

The ISA allowance for this tax year is £20,000, which can be split between both Cash and Stocks and Shares ISAs. Please note, we do not provide Stocks and Shares ISAs at the Tipton and we do not allow transfers in from Stocks and Shares ISAs. You can only pay into one ISA per tax year with ourselves.

We can only accept the transfer in of current years subscriptions if they are transferred to us in full, you may however transfer part of previous year subscriptions. 

When you're ready to open your account, simply visit the Tipton App to find out more.

Can I withdraw money?

Withdrawals are limited to one withdrawal each calendar year. After your one withdrawal, 60 days interest will be lost on the amount withdrawn. You can give notice to withdraw on the App, through our secure messaging service, or by calling us. 

Withdrawals must be made by electronic transfer to your nominated account only. No cash withdrawals or internal transfers are available. No faster payment withdrawals are available. 

Closure or transfer to another provider are allowed within your one withdrawal per calendar year. If you have already made one withdrawal within the calendar year, 60 days interest will be lost. Transfers out of current year subscriptions must be transferred in full, you may transfer part of previous year subscriptions. 

Please note, for any withdrawals from this account where the funds have not been transferred to another ISA, the funds will no longer be eligible for the tax benefits of an ISA. 

We aim to complete transfers out within 5 working days. 

When you're ready to open your account, simply visit the Tipton App to find out more.

Additional information

Interest is paid without tax deducted.

If you decide within 14 days of opening your account that this isn't the right account for you, you can have your money back without charge. We'll arrange to close the account and return your money to you, or transfer it to another one of our savings accounts. 

The Tipton offer a range of savings accounts on a non-advised basis. There may be another savings account which may have a higher rate of interest and/or be better suited to your personal needs. Please speak to a member of the team for other product information.

Tax-Free - Interest earned on ISAs is tax free as long as the statutory conditions of the scheme are not breached. Tax treatment depends on your individual circumstances and may be subject to change in the future. We’ll notify you if, by reason of any failure to satisfy the provisions of the ISA Regulations, an ISA has, or will, become void. Any tax due on interest paid will be debited to the account on closure. Where a break between subscriptions lasts for a whole tax year you must make a new application before you can continue subscriptions. None of the rights of the account holder in respect of the ISA may be assigned or used as security for a loan. Tax assumptions are based on current legislation. The favourable tax treatment may not be maintained as it is the Government that is responsible for the tax treatment. Cash ISAs can remain open following the death of an account holder but will be closed when the deceased’s estate is finalised. An account will cease to be a Cash ISA if the account holder becomes bankrupt. Where we are instructed by the member or HM Revenue & Customs to cancel an ISA due to breaches of regulations, any interest paid will not be exempt from tax.

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

Issued date: 22 November 2024

When you're ready to open your account, simply visit the Tipton App to find out more.