iDealing | Cash ISA Terms & Conditions

Cash ISA Terms & conditions

The Terms & Conditions set out below, including the Risk Warning Notices, (together, "the Conditions") constitute the Terms and Conditions governing the agreement between you, the client, and iDealing.com Limited ("iDealing") in respect of the use of iDealing's services. Your use of any part of the iDealing services is subject to your acceptance of these Conditions as made available or provided to you from time to time in any form specified by us. Any use or attempted use of such services shall constitute your acceptance and agreement to comply with these Conditions.

Definitions
1. "Account" or "ISA" - an individual savings account which is a cash account only under the Regulations.
2. "Account Manager" - iDealing, who is responsible for administering your Account in accordance with the Regulations.
3. "Account Withdrawal Form" - a form providing for an Account to be transferred from iDealing to another manager, as provided by iDealing.
4. "Agreement" - the agreement between the client and iDealing for the provision of an Account on the terms set out in these Conditions and incorporating any webpage (or part) of iDealing detailing any applicable Cash Savings Product, as well as the Application Form.
5. "Application Form" - a cash ISA application form, as provided by iDealing.
6. "Applicable Regulations" means:
  1. FCA Rules or any other rules of a relevant regulatory authority;
  2. the Regulations; and
  3. all other applicable laws, rules and regulations as in force from time to time.
7. "Business Day" - a day (other than a Saturday or Sunday) on which banks are open for business in London.
8. "Cash Savings Product" - in relation to cash standing to the credit of your account, an amount committed or to be committed to be held for the period specified in return for the interest specified to be paid upon the applicable Maturity Date.
9. "Event of Default" means any of the following events:
  1. you fail to pay us any sum payable, when due, or
  2. you fail to observe or perform any provision of this Agreement, or
  3. the taking of any step in connection with any voluntary arrangement or any other compromise or arrangement for the benefit of any of your creditors, or
  4. the presentation of a petition for a bankruptcy order or the making of a bankruptcy order against you.
10. "FCA" - the Financial Conduct Authority and any successor body.
11. "iDealing", "iDealing.com Limited", "Account Manager", "we" and "us" all refer to iDealing.com Limited.
12. "Maturity Date" - in relation to each Cash Savings Product, the date upon which the term ends as a result of which the cash deposited plus interest is credited to your Account.
13. "Maturity Date Exception" - in relation to a Cash Savings Product means circumstances where withdrawal before the Maturity Date is permitted, the circumstances being your death or due to a court order. In the event of a Maturity Date Exception the impact on interest payable will be as specified in the Product Summary Box.
14. "Product Summary Box" - the features of each Cash Savings Product as referred to in these Conditions.
15. "Regulations" - The Individual Savings Account Regulations 1998, as from time to time amended and in force.
16. "Services and Prices" - in relation to an Account, refers to those items where iDealing may charge fees for specified services.
17. "Tax" - income tax in the United Kingdom.
18. "Year" - a tax year beginning on 6 April in any calendar year and ending on 5 April in the following year.
19. "You" or "the client" - the individual who has opened an Account under this Agreement.
Account eligibility
1. You must be aged 18 or over.
2. You must be resident in the United Kingdom to be eligible to subscribe for an ISA. The United Kingdom (UK) means England, Wales, Scotland and Northern Ireland. It does not include anywhere outside of the UK. In particular it does not include the Channel Islands or the Isle of Man.
3. Subscriptions must be made in your own name. Joint subscriptions are not permitted.
4. You must not exceed the overall subscription limit in any tax year.
Account application
1. An application to open an Account must be made on an Application Form, which must be completed in full. Such application will be for the first relevant tax year in which it is received by us with a valid subscription and the declaration made by the applicant in the application shall have effect for that first year and each successive year until the account is closed. Your Account will be subject to the conditions specified in the Conditions as well as applicable ISA regulations.
2. Your Account is a cash account. You are responsible for making all the Cash Savings Product decisions.
3. The Agreement governed by the Conditions will come into force when we accept your Application Form. We reserve the right to reject any application without giving a reason.
4. If your Application Form is not completed in full, we will not open your Account. We may return the form and any other documentation to you for amendment.
5. If applicable, funds will only be transferred from another account that you have with us to your Account following approval of the ISA application.
Account cash
1. iDealing has elected, in respect of your ISA, to opt-in to the treatment of your money in accordance with the FCA’s "client money rules".
2. Cash held in your Account, including cash included within any Cash Savings Product, will be held on your behalf in "client money account"(s) with an approved bank(s).
3. Cash held in your account outside of any Cash Savings Product will benefit from interest paid at the rate specified from time to time by iDealing.
4. Available Cash Savings Products will be detailed from time to time by iDealing. The features of each Cash Savings Product will be set out in a "Product Summary Box", namely (i) any minimum or maximum deposit into the product, (ii) the period of time for which the cash deposited must be kept in the product, (iii) the Maturity Date, (iv) the interest rate that will be paid on cash credited to the product upon the Maturity Date and (v) the interest rate (if any) that will apply in the event that you decide to withdraw cash from the product before the Maturity Date.
5. Cash Savings Products will be set out on iDealing’s website from time to time. Such products may be made available for a limited period or for a limited number of customers, all such products may be introduced and withdrawn at the discretion of iDealing.
6. In the event that a Maturity Date of any Cash Savings Product does not fall on a Business Day your cash from such product together with interest to the Maturity Date will be credited to your Account on the next Business Day.
7. In relation to each Cash Savings Product for a specified term and hence Maturity Date, you agree that you will not be permitted to withdraw cash from your Account included in such product, provided always that early withdrawal will be permitted (i) as specified in the Product Summary Box, or (ii) a Maturity Date Exception applies.
Account transfers
1. It is possible to transfer existing ISA accounts with another manager to a cash ISA account managed by iDealing. This can be done by registering for an Account and completing a Transfer Form. iDealing reserve the right to refuse transfers into our management.
2. Upon receipt of a signed Account Withdrawal Form an iDealing ISA may be transferred to another manager.
Withdrawals and transfers of cash
1. Subject to the terms of any applicable Cash Savings Product, you may request a withdrawal at any time from your Account. All requests for withdrawals must be made on the relevant iDealing form.
2. For any ISA, regardless of the number of withdrawals you have made, you cannot make any further subscriptions should you have reached the annual ISA subscription limit for that tax year.
3. When a client instructs cash to be transferred either into or out of their accounts such instruction shall always be subject to satisfactory completion of any applicable anti-money laundering enquiries. iDealing may choose in its sole discretion decide whether or not to carry out a transfer instruction, unless the transfer service is compulsory under the Applicable Regulations. Clients should be aware that the speed with which transfers are effected once iDealing has issued the initial instruction lies outside of iDealing's control and within the control of third parties. Therefore, no guarantees can be given regarding the speed of transfers.
Payments
1. All payments made by you shall be without any deduction or withholding. Notwithstanding any value-date attributed to any telegraphic/electronic payment method, value of funds will only be irrecoverably posted to your account(s) upon actual receipt by our bankers of an irrecoverable credit.
2. You will be solely responsible for ensuring that the transfer of any funds to our bankers is effected without freezing/embargo instigated by any third party, (including without limitation our bankers, their correspondent banks, governmental or quasi-governmental agencies, and/or judicial order) where the cause, whether directly or indirectly, is due to your status, activities or circumstances.
3. We will only make telegraphic/electronic payments to a bank account in your name that you have registered with us and which we have identified and verified. We will not make telegraphic/electronic payments to any third party. We will only make a payment to a third party where that third party is either (1) a named Executor or Personal Representative on the official Grant of Probate for your Estate, or (2) the receiving broker of the cash component of an ISA transfer to your ISA account with them. In both of these cases payment to the third party will only be made by cheque and in British pounds. All payments are subject to amount limits set by our internal controls and procedures and/or our bank mandate(s), and/or to comply with relevant Applicable Regulations or guidance thereto.
Cancellation rights
1. You can cancel your application to open an Account, free of charge, within 14 days of your Account being opened. If you wish to cancel you must send us an email message.
2. If you cancel within the 14 day period we will return your cash to you as soon as possible and in any event within 30 days of our receiving a valid and acknowledged cancellation request.
3. If you have cancellation rights in relation to any Cash Savings Product then this will be set out in the Product Summary Box.
Cessation of account
1. If you breach the Regulations or your ISA is otherwise in breach of the Regulations then you may lose tax benefits and your ISA may be voided.
2. You may not assign your ISA. Any purported assignment will likely result in the loss of tax benefits and the voiding of your ISA.
3. The Account Manager may deduct any charges or other amounts due to it, any tax liabilities under the Account and any additional expenses incurred in terminating or voiding the Account.
4. In the event of your death the representatives of your estate must arrange to provide us with an original or certified copy (certified by a Solicitor, Commissioner for Oaths or Justice of the Peace) of your Death Certificate in order for us to proceed winding up your ISA account.
Personal data and information, data protection
1. We reserve the right to refuse your application for an Account if we believe that any information provided by you is incorrect or if we believe that you are not eligible.
2. You must provide us with the information referred to as mandatory on our Application Form. Your failure to do so will result in a delay in processing your application.
3. iDealing is registered under The Data Protection Act 1998 to collect and retain personal information on customers relevant to iDealing’s business. The 1998 Act (as amended from time to time) provides customers with the right to receive copies of their personal information held on our computer systems and certain other written records on written request and payment of an appropriate fee. If you require a copy of such information you should write to the Operations Manager at iDealing. For further information please see the Privacy Policy on the iDealing website.
Charges
1. A copy of the latest Services and Prices can be viewed online at www.iDealing.com. Where applicable, you will pay iDealing the reserved fee for the specified service.
2. All charges are subject to change at the discretion of the Account Manager.
Liability
1. Liabilities incurred by the Account Manager specifically in connection with your Account, which arise due to your breach of the Agreement (including the Regulations), shall be paid by you to the Account Manager upon the Account Manager providing details of the same, provided always that the Account Manager may only claim for its reasonable costs and expenses in connection with your breach.
2. To the extent permitted by the rules of the FCA, the Account Manager accepts no responsibility for your Account until cleared funds are received, nor for any loss or delay caused in the payment or transfer of funds to the Account Manager.
3. For the purpose of this Clause references to you include your personal representatives and references to the Account Manager include its nominee(s) appointed in connection with the account.
Advice and client categorisation
1. We are unable to and therefore do not provide investment, tax or other advice. Any queries that you may have regarding Cash Savings Products, or whether an ISA is suitable for you, should be referred by you to a professionally qualified financial adviser.
2. Unless advised otherwise by iDealing, we will categorise you as a retail client.
Regulations
1. These Conditions are based upon our understanding of the Regulations and applicable HMRC practice. These may change from time to time.
2. Your ISA is at all times subject to the Regulations, which, in the event of inconsistency, take precedence over this Agreement.
3. The iDealing ISA does not meet the Government's CAT standards.
4. In the event that the Amount Manager delegates any of its functions or responsibilities under this Agreement to another person then the Account Manager shall satisfy itself that such person is competent to carry out those functions or responsibilities.
5. In the event that there has been a failure to satisfy the provisions of the Regulations such that an ISA is or will become no longer exempt from tax by virtue of regulation 22(1) of the Regulations, then the Account Manager shall notify you.
Subscriptions
1. iDealing imposes no minimum on the amount of a subscription, apart from the minimum initial deposit requirement, which is £1,000.
Notification of security threats to your account
1. You must contact iDealing immediately if you suspect that your username and/or password has been disclosed to, or obtained by, a third party and/or that its integrity is threatened. Until such notification is received and confirmed to you by us as having been so received, iDealing shall be entitled to assume that any instructions which have been authenticated and/or referred to by your username and password, or client code are from you, and are genuine and valid; and we may act accordingly. You will assume full settlement responsibility for all such transactions.
2. All usernames and passwords must not be disclosed, or be allowed to be disclosed, to third parties. You are strongly advised to change your password from time to time.
No liability for interruption
1. iDealing shall not be liable for any direct or indirect, special, incidental or consequential loss or damages arising from the inability to use, interruption or non-availability of our website, including access to your Account, any computer viruses, loss of data or otherwise in respect of the use of the iDealing website or any software made available by iDealing.
Client responsible for equipment
1. The installation and maintenance of all computer hardware, software and communications devices needed by you to access your Account and provide instructions in relation to it are solely your responsibility.
Client’s email address
1. It is in the client’s best interest to ensure iDealing have a correct and active e-mail address and the accuracy of such address is the sole responsibility of the client. You can update your email address with us online.
Changes in bank details
1. A request to change registered bank details must be notified to iDealing in writing and be signed by you. All such requests will be subject to anti-money laundering, anti-fraud and other applicable verification requirements made by iDealing.
Financial Services Compensation Scheme
1. As a customer of a UK firm regulated by the FSA, you may be eligible to receive the protection offered by the FSCS, accountable to the FCA, in the event of our failure. Further information on the FSCS can be obtained from the FCA or directly on the FSCS website, www.fscs.org.uk
Commencement
1. These Conditions supersede any previous agreement between us on the same subject matter. You acknowledge that you have not relied on or been induced to enter into this Agreement by a representation other than those expressly set out in this Agreement.
Complaints procedure
1. We have internal procedures for handling complaints fairly and promptly. You may submit a complaint to us, for example by letter or e-mail. We will send you a written acknowledgement of your complaint promptly, and normally within 5 business days of receipt, enclosing details of our complaints procedures, including when and how you may be able to refer your complaint to the Financial Ombudsman Service.
2. The Financial Ombudsman Service is a scheme under which certain disputes may be resolved quickly and with minimum formality by an independent person. Established by the Financial Services and Markets Act 2000 (FSMA), it is a free service to which eligible complainants can refer eligible complaints. Its website address is: www.financial-ombudsman.org.uk .
Allocated but unclaimed Client Money
1. You agree that, subject to the Applicable Regulations, we may release your client money balances held on your behalf to a registered charity of our choice when we have determined that there has been no movement on your account balance for a period of at least six years (disregarding any payment or receipt of interest, charges, or similar items) and where we have taken reasonable steps to trace you and return your client money balances to you. We undertake to make good any valid claim against released balances.
Right of application of Client Money
1. Where any obligations owing to us from you under this Agreement are due and payable to us, we shall cease to treat as client money so much of the money held on your behalf as equals the amount of those obligations in accordance with the FSA "Client Money" rules. You agree that we may apply that money in or towards satisfaction of all or part of those obligations due and payable to us.
Notices
1. Unless otherwise agreed, all notices to you may be provided by us by posting a notice onto our website. Other instructions and communications to be given by one of us to the other under this Agreement shall be given to the postal address or registered e-mail address registered with us.
2. Any notice, instruction or other communication shall be deemed to take effect in the case of e-mail, on dispatch; in the case of our website, on posting; and in the case of first class pre-paid post, two Business Days after dispatch.
Amendment of Conditions by iDealing
1. These Conditions may be amended by iDealing by not less than ten Business Days’ notice to you, except where it is impracticable in the circumstances. Any other amendment must be agreed in writing between us. You can view the most recent version of our terms and conditions, including our current Services and Prices, online at www.iDealing.com.
Termination
1. Unless required by Applicable Regulations, either party may terminate this Agreement (and the relationship between us) by giving 7 days written notice of termination on the other. We may terminate this Agreement immediately if you fail to observe or perform any provision of this Agreement or in the event of your insolvency. Upon terminating this Agreement, all amounts payable by you to us will become immediately due and payable including (but without limitation) all outstanding fees, charges and commissions.
Existing rights
1. Termination shall not affect then outstanding rights and obligations and Transactions which shall continue to be governed by this Agreement and the particular clauses agreed between us in relation to such Transactions until all obligations have been fully performed.
Entire Agreement
1. These Conditions together with any documents referred to in these Conditions and any duly completed client forms or web pages shall constitute the entire agreement between iDealing and you, the client, in respect of the services.
Governing law and jurisdiction
1. This Agreement shall be governed by and construed in accordance with English law and the English Courts shall have exclusive jurisdiction to settle any dispute.

Cash ISA Terms & Conditions

Declaration

Cash ISA Terms & conditions

RISK WARNING NOTICES