A guide to your inherited ISA allowance

A guide to your inherited ISA allowance

We re here for you We re so sorry to hear your partner has passed away. And we re here to help you in any way we can. This leaflet will tell you everything you need to know about your inherited ISA allowance, but if you have any questions, just ask. Call into a branch, visit nationwide.co.uk or phone us on 0800 30 20 11. Contents What s an inherited ISA allowance? Page 2 How it works if you want to register your inherited ISA allowance with us Page 3 Your questions answered Page 5 Important information about our charitable assignment scheme Page 6 Customer identification Page 7 Current terms and conditions Page 9 Other important information Page 14 Summary of changes to the terms and conditions Page 15 New Cash ISA Terms and Conditions (including Key Product Information) Page 17 What s an inherited ISA allowance? If your husband, wife or civil partner has passed away and they had an ISA, you ll inherit their ISA allowance. This is sometimes known as an additional permitted subscription (or APS), but we call it an inherited ISA allowance. The inherited ISA allowance doesn t mean the money that s in your partner s ISA, but the allowance that will be registered in your name. The allowance amount will be the same as the amount of money that was in all of your partner s ISAs with a provider. For example, if the value in the ISA was 25,000 then your new allowance will be an additional 25,000. If your partner died on or before 5 April 2018 Your inherited ISA allowance will be the value of your partner s ISA(s) at the date of death. If your partner died on or after 6 April 2018, the value of your inherited ISA allowance will either be: - based on the balance of your partner s ISA(s) at the date of death; or - if the ISA(s) remains open following death, it will be based on the balance at the earlier of: the date the administration of the estate is completed; the date the account is closed; or the third anniversary of the date of death The allowance is available for three years after your partner has passed away, or 180 days after the administration of the estate has been completed whichever is the later date. You can only put your own money into the account. Any money you save will count towards your inherited ISA allowance. You can t replace any money you take out. You can only use up your remaining allowance. Here s an example of how it works: Your partner s ISA 1 8,000 Your partner s ISA 2 7,000 Your partner s ISA 3 10,000 Total 25,000 Your total inherited ISA allowance 25,000 Your ISA allowance 20,000* This doesn t affect your annual ISA allowance. You ll still have it on top of your inherited ISA allowance. * in this tax year 1 2

How it works if you want to register your inherited ISA allowance with us If you ve decided to register your inheritance ISA allowance with us, there are four steps to set up, save against and close your inherited ISA allowance. For extra information, go to tisa.uk.com/publication.html?type=18 Step 1 Make sure you ve registered your partner s death with us Step 2 Register your inherited ISA allowance with us Step 3 Start saving against your allowance Step 4 What you ll need to do What we ll do Things to remember What to do when you ve finished saving against your allowance Step 1: Make sure you ve registered your partner s death with us Step 2: Register your inherited ISA allowance with us What you ll need to do What we ll do Things to remember If your partner s ISAs were with Nationwide, all you ll need to do is complete part I of the Inheritance ISA form. If they held ISAs with other providers, you ll also need to fill in part II of the form so that we can register those allowances with us. How long will it take? We ll register your allowance and let you know when we ve done this. If you re registering allowances from other providers, we ll contact them for you and make sure the total allowance is registered with us. You can only choose one provider to register each allowance with. At this stage, you re registering the inherited ISA allowance, not moving any money. Once you ve registered, we ll send you a letter to confirm your total inherited ISA allowance. If the ISAs are already with Nationwide, we ll register your allowance within 5-10 working days, but it might take up to 30 working days to move your allowance from other providers. Step 3: Start saving against your allowance What you ll need to do What we ll do Things to remember Provide us with a copy of your partner s original death certificate. You can send this to us or bring it into a branch. Remember to do this with any other providers that your partner had ISAs with, too. We ll register your partner s death and let you know when we ve done this. We ll also let you know which accounts your partner held with us. Once you ve done this, you ll know what ISAs your partner held and who with. You can register the inherited ISA allowance from each provider with any ISA provider that offers inheritance ISAs, alternatively you can transfer multiple inherited ISA allowances to a single provider. If you add up the amount of money held in all of their ISA s, this will be your new inherited ISA allowance that you will be registering with us. When you first register your inherited ISA allowance, you can pay money in by cheque, or transfer it from another Nationwide account that s not an ISA. Once your allowance is registered, whenever you pay in money you ll need to complete a paying- in slip. You can then post this to us or drop it into a branch. We ll make sure your money is saved against your allowance. Once it s in there, we ll write to you to let you know how much of your inherited ISA allowance you ve used. If you pay in more than your inherited ISA allowance, we ll send the excess money back to you by cheque. You can only put your own money into the account. You can pay in money as and when you like, whether it s one lump sum or every now and again. If you need more paying- in slips, just call us on 0800 30 20 11 or pop into a branch. How long will it take? When you register your allowance and pay your money in using a transfer request, we ll make sure the money s there by the end of the next working day. If you pay it in using a cheque, the money will be paid in after the cheque has cleared. Clearing times can vary; to see how long your cheque will take to clear please see nationwide.co.uk/cheque-calculator 3 4

Step 4: What to do when you ve finished saving against your allowance If you ve used up your inherited ISA allowance or you don t want to pay in any more money, you can move your money into a regular cash ISA. What you ll need to do What we ll do Things to remember You can move your money into another cash ISA in branch. You ll just need to fill out a form to let us know which account to move it to. You can also do this using the Internet Bank, if you re registered. You can also take the money out as cash, but this means it ll lose its tax-free ISA status. How long will it take? We ll transfer your money into the account you ve chosen. if you close your account before all of your allowance has been used, you can still register a new allowance. You ll just need to make sure it s within three years of your partner passing away, or 180 days after the administration of the estate has been completed (whichever is the later date). If you re transferring your money to a Nationwide cash ISA, it takes 5 working days after we receive your request. If you re transferring to another provider, it can take up to 15 working days to move your money. Your questions answered Can I apply for an inherited ISA allowance?, if your partner passed away on or after 3 December 2014. You ll need to have been married to, or in a civil partnership with, your partner when they passed away. You need to have been living together and not legally separated or about to become legally separated. Should I apply for an inherited ISA allowance? You might want to think about it as it could mean you re paying less tax on your savings. And if your personal ISA is with us, your ISA allowance will all be in one place. It s up to you. How do I let you know my partner has passed away? Before registering your inherited ISA allowance, make sure you ve registered your partner s death with us and, if they held ISAs with other providers, contact them, too. You can let us know by writing to us or coming to see us in branch, and we ll need to see a copy of their original death certificate. What information will I need to give you? You ll need to complete an application form for your new inherited ISA allowance. This will ask you for information including: the date of your marriage or civil partnership your partner s date of birth and the date they passed away your partner s address at the time they passed away yours and your partner s National Insurance numbers if this will be your first Nationwide account, you ll also need to show us some ID, such as your passport or driver s licence. How do I transfer my inherited ISA allowance from another provider to Nationwide? You ll just need to make sure you ve completed both parts I and II of the Inheritance ISA form. What if I want to register my allowance with another provider? You ll need to contact the other provider who will manage this for you. How can I manage my allowance? Each time you pay money into your account, we ll write to you to confirm your new balance and how much of your inherited ISA allowance is left. We ll also send you a summary of this once a year. You can check your balance over the phone, in branch or, if you re registered, using the Internet Bank or our Banking app. How does the inherited ISA allowance affect my personal annual ISA allowance? The inherited ISA allowance is in addition to your personal annual ISA allowance, so that won t be affected at all. You can use your personal annual ISA allowance with the same ISA provider or a different one. Can I move money from my personal ISA to my Inheritance ISA? Unfortunately not. You can only pay into your Inheritance ISA from accounts which aren t ISAs. Do all my partner s ISAs count towards my new inherited ISA allowance? Cash ISAs, stocks & shares ISAs, innovative finance ISAs and Lifetime ISAs all count towards your allowance. The only one that doesn t count is a Junior ISA. Are there any time limits on my inherited ISA allowance? Your allowance is available for three years after your partner has passed away. If the administration of the estate takes longer than this to complete, we ll just need to see some evidence so we can still let you put money in (up to the inherited ISA allowance limit). You ll be able to do that until 180 days after the administration of the estate has been completed. To find out what you can use as evidence, just call us on 0800 30 20 11. What else might you need to think about? You might want to think about how you can make the most of your money, for example by moving it into another cash ISA. You can even do this immediately after you ve opened the account. You ll just need to fill out part I, section C of the inheritance ISA form when you re registering your allowance. Important information about our charitable assignment scheme Since 3 November 1997, customers who have become members of Nationwide on opening a current account, savings account or mortgage account have (with certain exceptions) been required to sign up to our charitable assignment scheme. Unless you have been a member of the Society continuously from 2 November 1997 or fall into a special group to which the scheme doesn t apply, you will become legally bound by our charitable assignment scheme when your account is opened. Under the scheme: You ll become a member of Nationwide Foundation if you are not a member already. The Foundation is a registered charity and is a focus for our charitable giving. You agree with us and with the Foundation to assign to the Foundation your rights to any windfall benefits you might otherwise have received in the unlikely event that we transfer our business to a company. The terms binding you to the scheme are set out in the Other important information section of this leaflet. 5 6

Customer identification Why do I need to prove my identity? Whether you re a new or existing customer, we must verify your identity when you open a new account. This is so that we can meet UK money laundering regulations to help stop criminals from using financial products or services for their own benefit. We will only ask for enough information to allow us to open your account. What do I need to provide? Existing customers we ll tell you if you need to provide evidence of your name and address once we ve received your application. New customers in order to confirm your identity, we need to verify your name and address. There are two ways to do this: 1. We may be able to check your identity electronically by using credit reference agencies to search sources of information relating to you (an Identity search); this search will not affect your credit rating. OR 2. We may also ask you to provide paper ID evidence. If we do ask, please provide original items as we are not able to accept statements or bills printed from the internet. You can usually show us your ID in one of our branches, or you can post it to us. The tables that follow explain which route (branch or post) is acceptable for each form of ID. We ll return any documents you send to us within seven days of receipt. If we cannot confirm your identity, we will not be able to continue with your application. Paper ID documents for UK and European Economic Area (EEA) Nationals resident in the UK We need to verify your identity (your name and address). We will try to do this electronically, but if we ask to see paper ID evidence, you can provide either of the following: one document from the UK Photo ID list (must be taken into a branch; please do not post) OR two separate documents: one from the Proof of name list below and one from the Proof of current address list. The same document can t be used to prove your name and address. UK Photo ID: Evidence we need to see Applying in a branch Applying by post Valid full UK Passport No Valid full UK Photocard Driving Licence No Proof of name: Evidence we need to see Applying in a branch Applying by post Valid full UK driving licence (old style paper) No Valid provisional UK photocard driving licence No Valid full EEA passport or EU member state national ID card No UK-based bank or building society statement (which must be less than three months old) with a debit or credit card. Don t send this by post UK-based bank or building society statement (which must be less than three months old) Letter from Benefits Agency, including Universal Credit welcome letters (which must be less than 12 months old) Letter from a professional person who knows you (solicitor, accountant, doctor, social worker or probation officer). No No Proof of current address: Evidence we need to see Applying in a branch Applying by post Valid full UK driving licence (old style paper) No Valid provisional UK photocard driving licence No UK-based bank or building society statement (must be less than three months old) UK mortgage statement (must be less than 12 months old) UK gas or electricity bill (must be less than three months old) UK phone bill (not mobile) (must be less than three months old) UK water bill (must be less than 12 months old) UK council tax bill (must be less than 12 months old) UK Credit Union statement (must be less than three months old) Letter from Benefits Agency, including Universal Credit welcome letters (must be less than 12 months old) Benefit letter from your local housing authority (must be less than 12 months old) Tenancy agreement from a housing association or a council Paper ID documents for Non European Economic Area Nationals resident in the UK If you don t come from the European Economic Area, we will ask you to provide two documents for ID purposes. Proof of name: Evidence we need to see Applying in a branch Applying by post Your national passport No Proof of current address: Evidence we need to see Applying in a branch Applying by post Proof of your current address. You will need to provide one document from the Proof of current address list shown above Further help See Proof of current address list for details If you cannot produce any of the documents from the tables, please contact your local branch as there may be other forms of identification you can use. Thank you for helping to stop financial crime. (V1.9) 7 8

Current terms and conditions This document contains i) our current Savings General Terms and Conditions ii) our current additional product terms and conditions that apply to our Inheritance Cash ISA iii) a summary of the main changes we are making to the current terms and conditions and iv) our new Cash ISA Terms and Conditions including new Key Product Information for our Inheritance ISA. The changes will apply automatically from 1 May 2018 and by agreeing to the current terms and conditions for your account, you will also be agreeing to the new Cash ISA Terms and Conditions and the Key Product Information which will replace the current terms and conditions from that date. Our current Savings General Terms and Conditions We strongly advise you to read all of the terms and conditions as you will be legally bound by them. Subject to any additional conditions for your account, the following conditions will apply. Meaning of words and expressions 1. In these conditions the following words and expressions have the following meanings: i. Agreement means these terms and conditions and any additional conditions applying to your account. ii. Card means a card we may issue on your account. iii. Month means a calendar month. iv. Our/us/we means Nationwide Building Society, Head Office, Nationwide House, Pipers Way, Swindon, Wiltshire SN38 1NW. v. PIN means the Personal Identification Number to be used with a card. vi. Working day means Monday to Friday, excluding Saturday, Sunday and bank holidays. vii. You/your means the account holder(s). Part I Account holding and ownership 2. Your account is a share of Nationwide Building Society. It will give membership rights to the account holder(s). By opening the account, you agree to be bound by both our Rules and these conditions. A copy of our Rules is available from any of our branches or on our website at nationwide.co.uk 3. The account must not be used for business purposes. 4. We are not responsible for failure of any machine, data processing system, transmission link, or any industrial dispute or circumstances beyond our control which obstructs or disrupts the provision of services to you. 5. We have complete discretion as to whether and on what terms, we will accept instruction by fax and email (except those via Nationwide s Internet Banking messaging facilities from registered Nationwide Internet Banking users) in relation to your account. 6. This agreement and the operation of the account will be governed by English Law and the language we will use in our communications will be English. 7. Credit facilities are not available on the account. If any withdrawal or payment creates an overdraft (and without prejudice to our right to refuse an overdraft), the account must be brought back into credit immediately. 8. On the death of an account holder (other than a nominee or trustee) the balance in the account together with interest and any bonus will be paid to their personal representatives without notice or loss of interest. 9. We may discontinue or stop offering the account to new customers without telling you. 10. From time to time we may publish Savings Promises. These will be clearly promoted as such and entitled Our Savings Promises. These Savings Promises are incorporated into and form part of these terms and conditions. 11. If any money you owe Nationwide (for example on a loan, credit card, mortgage, overdraft or otherwise) is overdue for payment, we may use any money you have in any of your accounts with Nationwide to reduce or repay what you owe, by way of set-off. Nationwide can use this right of set-off against accounts which are in your sole name as well as joint accounts you hold with Nationwide. We will tell you at least 14 days before we exercise this right of set-off. For the purposes of this condition only, Nationwide means Nationwide Building Society, its subsidiaries which include The Mortgage Works (UK) plc and UCB Home Loans Ltd. Joint accounts 12. Joint account holders shall choose the order of names on the account and only the first named account holder will be entitled to voting rights in respect of the account. 13. As joint account holders these conditions apply to you individually and jointly with the other account holder(s). 14. For joint accounts the authority of both or all of you is taken to have been given in respect of all transactions. 15. On the death of a joint account holder, the balance together with interest and any bonus will be payable to the surviving account holder(s) without notice or loss of interest or the surviving account holder(s) can choose to keep the account in their name(s). 16. In the event of a dispute between joint account holders, we may freeze the account until we receive written instructions from all of you. Paying money in 17. Cash and automated credits deposited into the account will earn interest from the date of deposit. 18. There may be a delay of one working day if deposits are made at a Nationwide cash machine. We will credit your account with the amount which has been verified and accepted by us when we check the deposit. 19. Banking of cheques for payment will at all times be subject to the rules, and clearing processes, of any cheque clearing system(s) used by us. There are three elements in the cheque clearing cycle:- i. Clearing for interest (when we start paying interest on any cheque you deposit with us). ii. Clearing for withdrawal (when we will allow you to withdraw against any cheque you deposit with us). iii. Clearing for certainty (when you can be certain that we will not debit any cheque you deposit with us which is returned unpaid (unless you are a knowing party to fraud), without your permission). The period of each of the above elements is detailed below. Interest paid from: The start of the 2nd working day following the day of deposit. If a cheque is paid in to the account on a Saturday, Sunday or bank holiday then the day of deposit will be the next working day. Withdrawals allowed from: The start of the 5th working day following the day of deposit subject to any additional conditions for your account for withdrawing money. If a cheque is paid in to the account on a Saturday, Sunday or bank holiday then the day of deposit will be the next working day. Certainty from: The end of the 6th working day following the day of deposit. If a cheque is paid in to the account on a Saturday, Sunday or bank holiday then the day of deposit will be the next working day. 20. Certainty applies from the end of the 6th working day (11.59pm) following the day of deposit. Although we will let you withdraw against cheques as shown above, this does not mean the cheque has cleared for certainty. Cheques can be returned unpaid before certainty and if so, will be debited from your account. 21. Cheques drawn from or paid into the account will be treated as valid for six months from the date of the cheque. Cheques must not be post dated. Taking money out 22. Subject to any additional conditions on your account regarding withdrawals the card, certificate or passbook must accompany any request for a withdrawal from the account. 23. Subject to any additional conditions on your account regarding withdrawing money, you may withdraw up to 500 in cash each day or up to 500,000 by cheque from a Nationwide branch immediately. Larger amounts may be withdrawn by cheque after making an arrangement with any Nationwide branch. 24. Subject to any additional conditions on your account, cash and automated credits deposited into the account will be available for withdrawal immediately. 25. Subject to any additional conditions on your account, withdrawal of funds by international transfer and CHAPS payments are available and are subject to an administration charge. Details of charges, foreign exchange conversion and timescales are available on request or when a transaction is authorised. 26. Standing orders, direct debits and bill payments cannot be made from the account. 27. We will debit the account with all payments and withdrawals authorised by you together with any charges in accordance with our published charges. Interest 28. Unless the account has a fixed interest rate, we may vary interest rates. We will only vary the rate for one or more of the following reasons: i. To reflect changes in general interest rates, including the interest rates or terms on which similar accounts are offered by other providers of financial services; ii. To reflect any changes or anticipated changes in the law, regulations or codes of practice or to respond to a decision by a court, ombudsman or regulator; iii. To respond to changes in the rates applying to our mortgage business; iv. To reflect changes to our costs, including administrative costs, costs involved in providing services or facilities or changes in the costs to us of borrowing funds; v. To maintain our financial strength for the benefit of our members. 29. If we vary the rate for one of these reasons, we will tell you about it by putting a notice in our branches and/or on our website or an advertisement in the press. If we vary the rate for any other reason we will notify you personally at least 30 days in advance and ignore any notice period on your account for at least 60 days starting on the date of the notice to allow you to close or switch the account without loss of interest. 30. Interest is paid without tax deducted. 31. The interest rate that applies to your account is available at nationwide.co.uk or by phoning 0800 30 20 11 or from any of our branches. 32. Interest is calculated differently in a leap year and deposits made after 29 February will receive less interest than they would in a non-leap year. For further information please visit your local branch. 33. If the date for payment of interest is a Saturday, Sunday or bank holiday it will be paid on the next working day and backdated to the due date. Variation of terms and conditions 34. We may make changes to: i. the terms in Part I of this agreement, and ii. any additional terms and conditions applying to your account. We will make these changes as set out below unless, in the case of additional terms and conditions applying to your account, those additional terms and conditions set out how those additional terms and conditions can be varied, in which case the terms in the additional terms and conditions will prevail. 35. If the change is to your disadvantage we will tell you about it personally, either by letter, email or secure personal message within the Nationwide Internet Banking site, at least 30 days before we make the change. At any time up to 60 days from the date of this notice you may switch your account or close it without having to pay any charges or interest for doing this. We may make any other change immediately and tell you about it by putting a notice in our branches and/or on the website or an advertisement in the press. Closing and cancellation 36. Under normal circumstances, we may close the account by giving you at least 30 days notice. We may close your account immediately in exceptional circumstances, which might include a legal obligation to close the account or threatening or abusive behaviour towards our staff. 37. After opening the account you may transfer the balance to another account with us or have your money returned without notice or charge, provided that you tell us of your intention within 14 days from the date the account was opened. If your original deposit was by cheque, you cannot transfer or close the account until your cheque has cleared through the banking system. This condition does not apply to fixed rate accounts apart from Fixed Rate ISAs. 38. Requests to close your account can only be carried out when all the funds in the account are cleared. 39. Interest will not accrue to the account following closure. 9 10

If you re not happy 40. We have a complaints procedure and for more information, or to make a complaint, please: (a) visit our website and click on the option Contact us ; (b) phone 0800 30 20 11; or (c) visit one of our branches. If you are not satisfied with the way we have dealt with your complaint you may refer it to the Financial Ombudsman Service. You can also refer your complaint to them first without giving us the opportunity to resolve it, but if you do this, they will only consider your complaint with our consent. The Financial Ombudsman Service provides a free, independent, complaint resolution service. Details about their service and how to refer a complaint to them can be found on their website at financial-ombudsman.org.uk If you purchased your account online, you may also have the option to refer your complaint to the Financial Ombudsman Service using the Online Dispute Resolution platform. The platform has been established by the European Commission to provide an online tool for consumers to resolve disputes about goods and services purchased online. The platform can be found at ec.europa.eu/consumers/odr Part II The following terms apply to the payment services provided as part of your account. 41. We may make changes to the terms in Part II of this agreement and we will give you not less than two months personal notification before the change takes effect. You have the right to close or switch your account without charge before the date any changes come into effect. If you do not close your account you will be treated as having accepted the changes. Payment services The following are examples of the main payment services you can carry out on your account (subject to any other conditions on your account): 42. Pay in and withdraw money; 43. Transfer money between certain Nationwide accounts; 44. Make electronic payments such as CHAPS and overseas electronic payments. Making payments 45. Before we can act on your instructions to make payments or withdrawals, we will require your consent and may require proof of identification. How we obtain your consent may include the use of passwords, cards, card readers, PINs or encryption devices and card verification. 46. When making payments, the following information is required from you about the company or person you are paying: (a) For CHAPS payments, the bank s name and address, sort code, account number and, if applicable, reference. (b) For overseas electronic payments, you must give us the bank s name and address, sort code, account number, Bank Identifier Code (BIC) or national bank code and, if applicable, reference. For certain overseas payments we will also require an International Bank Account Number (IBAN). 47. If you give us the wrong account details for one of these types of payment we will try to recover the funds for you if you ask us to, but we may charge you for doing so. 48. For transactions at a cash machine using your card, you will usually be asked to enter your PIN. 49. The following table details when payments can be made, when they are received and how they can be cancelled. Payment type Internal transfers to Nationwide accounts CHAPS - payments within the UK Overseas electronic payments When we can accept your payment instructions At any time using the Internet Bank and Telephone Banking (where applicable). During opening hours at a branch. During opening hours at a branch. For same day payments we must receive your instruction by 3pm on a working day. During opening hours at a branch. For same day payments we must receive your instruction by 1pm on a working day. When payments usually arrive Immediately. Payment normally arrives on the same working day. Payment normally arrives within one working day for EEA countries. Other countries may take longer. How to cancel your instruction You cannot normally cancel a payment after we have accepted your instruction. You cannot normally cancel a payment after we have accepted your instruction. You cannot normally cancel a payment after we have accepted your instruction. 50. If you receive a refund on any of the transactions listed above, we will pay the amount of the refund into your account when we receive it. 51. You remain liable to make a payment even if we cannot debit your account due to it being closed; machine, data processing or transmission link failure; industrial dispute; or any other factors outside of our, our agents or subcontractors control. 52. Payments from your account will only be made if there are enough cleared funds available in your account. 53. Payments into and out of the account can only be made in sterling. Cards Where a card has been issued to you to use with your account, the following conditions apply: 54. You may be given a PIN to withdraw cash with your card, either at a branch and/or from a cash machine, subject to the additional conditions of your account. 55. You can also use your card and PIN to pay in cash using our Fast Cash and Cheque machines. 56. Cards will be re-issued from time to time and these conditions will apply to new cards. 57. All cards issued by us remain our property and must be returned on demand. We can suspend or cancel your right to use cards and PIN(s) at any time without notice where we believe that it is necessary for your and/or our protection, for example where we suspect the card is being used for fraudulent purposes or where you have breached a term of our agreement with you. If we are unable to inform you before we do this, we will inform you immediately after. In situations where we consider that urgent action is unnecessary, we will give you at least seven days notice before we exercise our right to suspend or cancel your right to use cards and PIN(s). 58. Any cash machine may retain your card following the repeated keying of the wrong PIN or a technical failure. If this happens, you must inform us as soon as possible. We accept no liability for any loss if your card is retained or you experience a technical failure. 59. If cards reported lost or stolen are found or returned you should destroy them. Security 60. The care of your passbooks, certificates, cards, PINs, statements and other security information is essential to help prevent fraud and protect your accounts. Please make sure that you follow the steps below: i. Always take reasonable steps to keep your card safe and your PIN, password and other security information secret at all times. ii. If your card requires a signature, you should sign it upon receipt. iii. You must memorise your PIN immediately and destroy the notification promptly on receipt. You must keep your PIN secret. You must not tell anyone your number not even our staff or the police. You should never write down your PIN. iv. If you fail to receive a statement or any other expected financial information, you should contact us immediately. v. You should check statements and passbooks regularly and alert us to any irregularities. You can obtain information on your transactions or obtain copies of your statements at any time by contacting us. You can also access statement information via our online services. 61. For your protection we may require proof of identity before allowing withdrawals from your account. 62. You must tell us as soon as possible by contacting your branch (during opening hours) or call us on 0800 30 20 11 (24 hours) if: i. Your card, passbook or certificate is lost or stolen or; ii. Someone else knows your PIN or; iii. You think someone else may be using your card, passbook or PIN without your permission. 63. You must tell us straightaway if you change your name, address telephone number or, if we communicate with you by email, your email address. Limits 64. Limits apply to: (a) the amount that may be paid by the methods detailed in the table in point 49; (b) the amount you can withdraw at a cash machine or Nationwide branch counter; (c) the amount that you can withdraw from your account each day. For details of these limits see our website or contact your local branch. Stopping transactions on your account 65. We may refuse to carry out any transaction on your account that you might request if: i. we reasonably believe that you did not give us the instruction; ii. we reasonably suspect fraudulent activity; iii. your instructions are unclear, incomplete or the recipient s details are incorrect (as set out in the Making payments section above); iv. it might cause us to act contrary to a law, regulation, code or other duty which applies to us; v. it would cause you to exceed any limit or restriction which applies to your account (such as a daily cash withdrawal limit from cash machines). Unauthorised payments 66. To dispute a transaction that you do not recognise, or you do not believe that you carried out, and to claim a refund you will need to contact us as soon as possible but no later than 13 months from the date it was debited from your account and we will investigate the dispute and notify you of the outcome. To notify us of a disputed transaction you should report it to your branch (during opening hours) or call us on 0800 30 20 11 (24 hours). 67. If we have to take action against another party as a result of a transaction on your account, you must assist us and provide all available information to enable us to pursue this action. Liability for losses 68. If we are liable for any losses due to a delay or error by us in carrying out your instructions to make or stop a payment, or for unauthorised payments our liability will be limited to: i. the amount of such payment; and ii. the amount of any interest you do not receive or any interest and charges you have to pay directly as a result of such delay or error. If our liability is established we will refund the above amount immediately. 69. Your maximum liability for unauthorised transactions is 50 before you report the items lost or stolen. You may be liable for all losses incurred if you have acted fraudulently or you have failed to take any of the steps listed in the Security section of this agreement. Our current Inheritance Cash ISA Terms and Conditions In addition to the Savings General Terms and Conditions, the following terms and conditions apply to the Inheritance Cash ISA. If there is a conflict between the Savings General Terms and Conditions and these Inheritance Cash ISA Terms and Conditions, these Inheritance Cash ISA Terms and Conditions will take priority. Meanings of words and expressions 1. In these conditions the following words and expressions have the following meanings: (a) Account means a Nationwide Inheritance Cash ISA. (b) Deceased means an individual who was your spouse or civil partner who died on or after 3 December 2014 with whom you were living at the date of the Deceased s death and who, at the date of their death, was an ISA account holder. (c) Deceased s Account(s) means the ISA(s) which the Deceased held with us or with another ISA provider at the date of the Deceased s death. (d) Inherited ISA Allowance means the maximum amount, in aggregate, that can be paid into your Inheritance Cash ISA with us which equates to the Value of the Deceased s Account(s) that you choose to have with us. (e) Permitted Period is a period of time beginning with the date of the Deceased s death and ending either: i. 3 years thereafter; or ii. 180 days after the administration of the estate is complete; whichever is the later. For the purposes of calculating the Permitted Period, where the Deceased died in the period beginning 3 December 2014 and ending on 5 April 2015, the date of death will be taken as 6 April 2015. (f) Regulations means the Individual Savings Account Regulations 1998 as particularly amended by the Individual Savings Account (Amendment) Regulations 2015, or as otherwise amended from time to time. (g) You/your means the holder of the Account and who is the surviving spouse or civil partner of the Deceased. (h) Value means the value of the Deceased s Account(s) calculated either: (i) at the date of death; or (ii) (where the Deceased died on or after 6 April 2018 and the Deceased s Account(s) remains open following the date of death and before you open an Inheritance Cash 11 12

ISA with us) at the earliest of the following dates to occur: the date that administration of the Deceased s estate is completed; or the day falling on the third anniversary of the date of death; or the date of closure of the Deceased s Account(s). Please note that where the Deceased died on or after 6 April 2018 and the Value has been calculated in accordance with (i) and money has been paid into your account towards this Value, it is not possible to recalculate the Value in accordance with (ii) at a later date. Account holding and ownership 2. An application for an Inheritance Cash ISA can only be made: (a) by an individual who is the surviving spouse or civil partner of the Deceased; and (b) within the Permitted Period. Under the Regulations, you have a choice about how you want to use the ISA allowance you have inherited from the Deceased. For each Deceased s Account where you choose to use the associated ISA allowance, you ll decide whether you want to stay with the ISA provider of the Deceased s Account or whether you want to move the ISA allowance you have inherited to another ISA provider (including to us). You cannot pay in money towards the ISA allowance with a second ISA provider after you have opened an account for your ISA allowance with a first ISA provider. 3. You agree that in subscribing to this Account and when making future deposits, if any, you will not exceed your Inherited ISA Allowance. 4. The Account is only available to individuals who are aged 16 or over. 5. Proof of your identity, verification of your address and your National Insurance Number may be required on Account opening. 6. The Account will be, and must remain in, your beneficial ownership and must not be used as security for a loan. 7. You may only hold one Inheritance Cash ISA with Nationwide in relation to a Deceased at any given time. 8. Subject to the Regulations and your personal annual ISA allowance(s), you may be entitled to subscribe to another ISA in the same tax year as subscribing to this one. This is because your Inherited ISA Allowance is in addition to your personal annual ISA allowance(s). For more information about your personal annual ISA allowance(s), Inherited ISA Allowance and any other permissible subscriptions please visit us in branch or visit our website nationwide.co.uk or HMRC s website hmrc.gov.uk for further details. Interest 9. Interest is calculated daily and paid annually on 30 September and on closure. 10. Interest will not accrue to the Inheritance Cash ISA following closure. 11. Interest can be paid into the Account, a Nationwide current or savings account (subject to any restrictions on deposits into that account) or a current account with another bank or building society. Interest is paid tax-free. 12. We will calculate interest on each whole pound in the Account. 13. The interest rate payable on the Account is variable. Paying money in 14. You may only make deposits into the Account within the Permitted Period. 15. The minimum amount for any deposit is 1. 16. Payments into the Account must not cause you to exceed your Inherited ISA Allowance. Taking money out 17. You can withdraw any available funds in the Account without notice or loss of interest. 18. If you wish to transfer all or part of your Inheritance Cash ISA with us to another cash ISA provider we will send the funds and accompanying information to the new provider within 5 business days of the date of receipt of a transfer instruction from the new provider. 19. If you wish to transfer all or part of your Inheritance Cash ISA with us to a stocks and shares ISA provider we will transfer the account within the time stipulated by you or within 30 days of receiving the request from your new provider, whichever is the longer. 20. If you transfer all or part of your Inheritance Cash ISA with us to another ISA provider before you have fully used up your Inherited ISA Allowance within the Permitted Period, you will only be able to make any future deposits in relation to the Inherited ISA Allowance to an Account held with us, and not to the ISA provider you have transferred to. These terms and conditions will continue to apply to any such future deposits. 21. Any deposit that is made into the Account counts towards your Inherited ISA Allowance. So if, after the cancellation period (within 30 days of Account opening), any funds are withdrawn from the Account you cannot pay any more money into the Account if it means that you would exceed your Inherited ISA Allowance. 22. If you withdraw funds from the Account and wish to replace them in the same tax year, you can only replace these funds in another cash ISA product with us. The replacement will not count towards your personal annual ISA allowance. If you transfer your Inheritance Cash ISA to another ISA provider you will not be able to replace those funds. Closing the account and cancellation 23. If, after opening the Account, you do not consider it to be suitable you may transfer the balance to another Account with us, or have the money returned. In either case we must receive notification of your intention within 30 days from the date that the Account was opened. Interest will be paid tax free and the subscription will not count towards your Inherited ISA Allowance which can be deposited into an Inheritance Cash ISA with us, or similar product with another ISA provider, in the Permitted Period. You can open a subsequent Inheritance Cash ISA with us or a similar product with another ISA provider within the Permitted Period up to the value of your Inherited ISA Allowance. 24. If, after the cancellation period (within 30 days of Account opening), you close the Account any deposits made before closure count towards your Inherited ISA Allowance and cannot be reinvested. If you have not reached your Inherited ISA Allowance, the remaining amount can be reinvested into another Account opened with us provided this is during the Permitted Period. 25. Your Inheritance Cash ISA will close and tax exemption will end; (a) on your death; (b) upon the direct instruction of HM Revenue & Customs. 26. If your Inheritance Cash ISA breaches the Regulations we reserve the right to: (a) convert all or part of the Account to an instant access savings account, or similar account, without prior notice; or (b) close the account; or, (c) where a subscription is invalid, reject the subscription and return the funds. 27. You may not make any further deposits into the Account: (a) after the end of the Permitted Period (which we will assume is 3 years from the date of the Deceased s death unless you inform us that an extended period applies); or (b) if you have reached your Inherited ISA Allowance. 28. If you die on or before 5th April 2018 then on your death, no further deposits can be made into the Account, your Inheritance Cash ISA will close and the tax exemption will end. The capital value of your Inheritance Cash ISA at the date of your death and the accrued tax-free interest is payable to your personal representatives, without notice or loss of interest. A tax liability may arise in respect of any interest earned after the date of death.. 29. If you die on or after 6th April 2018, no further deposits can be made into the Account. However, the Account will not close on your death and your tax exemption will continue during the administration of your estate for the period specified in the Regulations up to a maximum period of 3 years from the date of your death. Interest will continue to accrue tax-free during Other important information this period provided it remains in the account where it accrues. Condition 11 above ceases to apply and interest can only be paid into the Account (even if there were arrangements to pay the interest elsewhere before the date of your death). At the end of the period specified in the Regulations, the capital value of your Inheritance Cash ISA and the accrued tax-free interest is payable to your personal representatives without loss of interest. General terms 30. We will notify you if, due to any failure to satisfy the provisions of the Regulations, your Inheritance Cash ISA has, or will, become void. 31. If we delegate any of our functions or responsibilities under these terms and conditions we will satisfy ourselves that the person or organisation we delegate to will be competent to carry out those functions or responsibilities. 32. In the case of conflict, the Regulations take priority over these terms and conditions. This document also includes Use of my information and Charitable assignment sections. The Use of my information section is a notice which sets out how we may use any personal information we hold about you. The Charitable assignment section is an important but separate legal agreement that applies to you. Neither of these sections form part of the terms and conditions for your account. Use of my information (a) Any information about me and my account may be shared within Nationwide to open and manage the account, make lending decisions, collect debts, trace debtors, prevent fraud and money laundering and for business analysis. It may also be shared within Nationwide and with specialist companies for market research purposes on behalf of Nationwide. It may also be shared with other organisations for the purposes of them providing products and services in association with or on behalf of Nationwide. We will use the email address you have provided to contact you about your application and servicing your account; this may include sending you important legal documentation. Nationwide may use my information to populate application forms for products provided or introduced by Nationwide. If I notify you of changes to my personal details, it is your normal practice to update all of my accounts unless I ask you not to. If I have opened an account or policy with another organisation introduced or provided to me by Nationwide, I will need to contact them to update my details. (b) Nationwide may inform me of special offers, products and services, either by letter, telephone or email. If I am a new Nationwide Building Society customer and I do not wish to receive marketing material by letter, telephone or email, or any combination of these I can write to you at Nationwide Building Society, Marketing opt-out, FREEPOST SCE 7125, Swindon SN38 9LY. If I am an existing Nationwide Building Society customer my current marketing preferences will continue unless I tell you otherwise. If I have given a previous marketing instruction to any subsidiary or trading division of Nationwide Building Society, my request to them will not change. If I require further information I can ask for a copy of your leaflet How Nationwide uses your personal information. This can be requested from a branch and is also available online at nationwide.co.uk. Nationwide means Nationwide Building Society, its subsidiaries and trading divisions. (c) You may make searches about me at credit reference agencies who will supply you with information, including information from the Electoral Register, for the purpose of verifying my identity. The agencies will record details of the search whether or not my application proceeds. The searches will not be seen or used by lenders to assess my ability to obtain credit. You may use scoring methods to assess my application and to verify my identity. Credit searches and other information which is provided to you and/or the credit reference agencies, about me and those with whom I am linked financially, may be used by Nationwide and other companies if I apply for other facilities including insurance applications and claims. This information may also be used for debt tracing and the prevention of money laundering as well as the management of my account. Alternatively, you may ask me to provide physical forms of identification. (d) Any information about me and my account can be shared within Nationwide to prevent or detect fraud, or to assist in verifying my identity. You may also search the records of fraud prevention agencies who will supply you with information. You may pass information to financial and other organisations involved in fraud prevention to protect yourselves and your customers from theft and fraud. If I give you false or inaccurate information and you identify fraud, you will record this and pass it to fraud prevention agencies to prevent fraud and money laundering. (e) I have the right of access to my personal records held by you and the credit and fraud agencies. I can ask for a copy of your leaflet How Nationwide uses your personal information which will tell me how to apply for my records and explains in more detail how my information will be used by Nationwide, the fraud prevention agencies and any permitted third parties. You may make changes from time to time to this leaflet and I can obtain a copy of the most recent version at any time from a branch or online at nationwide.co.uk (f) You may transfer my information to a country that is outside the European Economic Area for the purposes of managing and administering my account and you will ensure that the security of my data is maintained. In the above section, we / the Society / Nationwide means Nationwide Building Society and its subsidiaries (which includes the Mortgage Works (UK) plc and UCB Home Loans Ltd. 13 14