Savings Accounts

Below is a list of our most frequently asked questions regarding our savings accounts. For more information please contact us.

What is an ISA? Why should I take out an ISA? Who can provide an ISA? How many types of ISA are available and how much can I invest in each? Can I open both a stocks and shares ISA and a cash ISA? Can I transfer my ISA savings? How do I transfer savings from my Stocks and Shares ISA to a Cash ISA with the Newcastle? Who can tell me about ISAs? How much do I have to invest in my ISA? How can I open an ISA? Can I open a joint ISA? What are Stakeholder Standards? Do I have to invest with the same ISA Manager each year? What period does the tax year cover? What happens if I pay into too many ISAs? What happens if I'm physically unable to sign the ISA forms? Can I invest funds on behalf of someone who is mentally incapable of handling their own affairs? What is a Junior Cash ISA? How do I use my spouse’s ISA allowance on their death? How can I withdraw from my account? Who will the cheque be made payable to? How long does it take to transfer funds to my nominated bank account? Do you offer a faster payment facility? Do you offer a CHAPS facility? What are the bank account details that I need to use for funding the account? Can I send in a cheque to fund my account? Can I change from a single to a joint account? Can I change from a joint to a single account? Can you send correspondence to another address? I have changed address, what do I need to do? I’ve recently got married, what do I need to do to change my account details? How can I change my e-mail address? When will I start to earn interest on my account? When will you inform me of rate changes? Can I change from monthly to annual interest (or vice versa)? Is it possible to receive my interest by cheque? Can I change the bank account I have setup for interest payments? Why do companies check identity? Will the identity search affect my credit history? What happens after I have applied for an account online? Why am I being asked to provide certain information about me and my tax residence status I have submitted my application online; can I cancel as I have changed my mind? Am I able to transfer funds from my building society account to a bank account? What is the maximum withdrawal I can make in branch? Will I need to take identification with me when I want to make a withdrawal in a branch? Is there a charge for cheque withdrawals? Who do I make the cheque payable to? How long will it take for my cheque to clear? Do I have to come into branch to make a withdrawal? Can I have a interest statement for my account? Can I make a withdrawal without my passbook? Is it possible for somebody else other than account holders to transact on my account on my behalf? Following a third party withdrawal why does the cheque need to be sent in the post? What if my passbook/card is lost or stolen? Can I pay bills from my account? Can I have money paid into my account? Where can I find help on using my online Newcastle Building Society Savings account? What is the Financial Services Compensation Scheme (FSCS)? How much of my savings are covered? When would the FSCS pay out? Why doesn’t the Society tell all customers about new accounts that pay a higher rate? Why are Newcastle Building Society interest rates lower than other providers? How does the Sir Bobby Robson Foundation accounts work? Who do I make cheques payable to? What happens to my cheque when it is invested in my Newcastle Account? How soon can I withdraw against a cheque investment? Why do you insist on 6 days before withdrawals are allowed? What if I need to stop a cheque? What if I lose a cheque you have issued? What would happen if I returned my cheque unpaid? What if I forget to cash a cheque issued by Newcastle Building Society? What is a "bounced cheque" and how quickly are you notified of these? Why am I charged for an unpaid cheque? It wasn't my cheque, why have you charged me? My cheque has been debited from my bank account, why can't I withdraw against this? Can I make a withdrawal against an uncleared cheque? What is savings income? Does income from ISAs count towards my Personal Savings Allowance? Will the changes affect savings income received before 6 April 2016? Do taxpayers need to tell account providers about other savings income or their tax rate? If my total taxable income is less than £17,000, what will the changes mean for me? If I'm a basic rate taxpayer, what do the changes mean for me? If I'm a higher rate taxpayer, what do the changes mean for me? If I'm an additional rate taxpayer, do I get a Personal Savings Allowance? If I registered my account to receive interest without tax taken off, what do i need to do now? How does the Personal Savings Allowance effect interest paid on PPI and other compensation payments? How do I claim back tax paid on other savings income? I'm a basic rate taxpayer and my partner’s a higher rate taxpayer; which Personal Savings Allowance applies to our joint account - £1,000 or £500? Will the Personal Savings Allowance affect the new £5,000 Dividend Allowance? I am a business / a charity / a club / an association / a trustee / administering an estate – what will this mean for me? What is a flexible ISA? What is the Community Fund for? Why did you decide to make the Community Fund? Who will benefit from the Fund? What about your relationship with the Sir Bobby Robson Foundation? How will the Fund work? Who can apply? How do you apply? What’s the maximum amount you can apply for? How many grants do you plan to give? How often will you give grants? How will you decide who receives the grant? Who will decide? Can customers get involved? Are you a registered charity? Does this cost me anything as a Member of the Society? Does it cost anything to apply for a grant? How can I find out who has received funding and what it has been used for? How will you ensure the grants you give are used properly?