Summary Box for smile Cash ISA

• The information provided below is a summary of the key features of our smile Cash ISA and is not intended to be a substitute for reading the terms and conditions.

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What is the interest rate?

Current rates up to 21/04/2020

New rates from 22/04/2020

• Interest is calculated daily and will be paid into your account annually on 5 April

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Can smile change the interest rate?

Yes - the interest rate is variable, which means it can go up or down.

We may change your interest rate for various reasons, please see the 'Changing these terms and ending this agreement' section of our General Terms and Conditions for more details.

When we increase our interest rates - we'll tell you about the change within 30 days after it's happened.

When we decrease our interest rates - we'll inform you by personal notice at least two months before we make the change.

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What would the estimated balance be after 12 months based on a £1,000 deposit?

If you are a smile current account customer:

Initial deposit at account opening	Balance after 12 months
£1,000.00	£1,005.00

If you are not a smile current account customer:

Initial deposit at account opening	Balance after 12 months
£1,000.00	£1,002.50

We have worked this out assuming:

• The new interest rates apply.
• You haven't made any additional deposits or withdrawals.
• We haven't changed the interest rate in the 12 month period.

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How do I open and manage my account?

Can I apply for this account?

To apply, you must be a UK resident (for tax purposes) aged 18 or over.

• This account can only be opened as a sole account.

How do I apply for this account?

You can apply for this account:

• Online
• Through Online Banking - existing customers can easily apply through the 'Products' section within online banking

Is there a minimum and a maximum balance?

• The minimum opening balance is £1.
• The maximum balance is £1,000,000.

You've got 30 days from when we open your account to pay in the minimum balance of £1. If after 30 days you haven't met the minimum balance, we may close the account immediately and return any funds to you.

How do I make deposits into this account?

If you're using your annual ISA allowance for the current tax year - you can pay money in by:

• electronic transfers from another account held with us or another provider (such as by using their app or setting up a standing order).
• cash or cheques
• visiting any Post Office® in the UK where you can pay in cheques.

The maximum you can pay into the Cash ISA in the 2019/2020 tax year is £20,000.

If you're transferring your cash ISA to us - you can do this by providing us with a completed ISA transfer authority form. You'll receive the form in your welcome pack so just complete it, return it to us and we'll arrange the transfer on your behalf.

How do I contact you to discuss this account?

By sending us a secure message or visiting a branch.

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Can I withdraw money?

Yes - whenever you want as this account has no restrictions on the number of withdrawals. However, as this cash ISA is not a flexible cash ISA , any withdrawn money that you want to replace will count towards your ISA subscriptions for the current tax year, and you are only allowed to deposit up to the maximum ISA limit in a tax year. So, for example, if you have deposited £10,000 and then withdraw £1,000, you will only be able to deposit a further £10,000 in that tax year.

You can make withdrawals through the following ways:

• Online and Mobile Banking - through electronic transfers to other accounts with us or another provider.
• Telephone Banking - through electronic transfers to other accounts with us.
• Branch - withdraw cash over the counter and/or make electronic transfers to other accounts with us or another provider.

You can also request a Banker's cheque withdrawal, however there is a charge for this.

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Additional information

Interest earned from this account will not count towards any of your available personal savings allowance.

All interest earned from your ISA will be free of both Income and Capital Gains Tax.

You cannot subscribe to a cash ISA with us if you have already contributed to another cash ISA using this tax year's ISA allowance, or if you have already invested the full ISA allowance in another type of ISA this tax year.

If you do not place any money in your account during a tax year, you will need to contact us to make a new declaration should you wish to make a deposit in a subsequent tax year.

Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on your individual financial circumstances.

Tax Free - The contractual rate of interest payable where interest is exempt from income tax.

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

Tax-year - A tax year runs from 6 April to 5 April the following year.