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Cash ISA FAQ's - click here
Q.
How do I get application forms to
open an account with KRBS?
You may call us at 08451 22 00 22*
or e-mail us at mail@krbs.com
with your name and address, specifying
the forms you require. You could also
download them from the downloads
section on our website. For passbook
based accounts you may contact our
branch
or agency network in Kent.
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Q. What
are the ID's I need to send along with the
application forms?
We conduct an electronic check to establish
proof of your identity and address. We will
write to you asking for ID, only if we are
unable to sufficiently verify your name and
address through our electronic verification
process. In this case, our letter to you will
specify the valid ID's we require. |
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Q. How do I notify you
of my change of address?
Simply notify us about your change of address
in writing at Kent Reliance Building Society,
Reliance House, Sun Pier, Chatham, Kent ME4
4ET. Please note that we do not accept notification
through e-mail, fax, phone, etc. to protect
your account. We will not require proof of
your new address. Passbook based account holders
can come directly to our branch or any agency
to notify us of a change of address. |
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Q. How do I notify you
of my change of name?
Kindly send this in writing with your new
and old signatures. Please enclose a proof
of name change. The Marriage certificate or
Name change deed poll. The document could
be original or a certified copy. Passbook
based account holders can contact any branch
or agency. |
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Q. Can I access my account
online?
We are in the process of developing a system
where you could have online access to your
account. We have completed phase 2 of the
project - visit www.internetbuildingsociety.com
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Q. How do I make a further
deposit in to my Kent Reliance account?
You can send us a cheque made payable to yourself
with your account number and address written
on the reverse of the cheque. Alternatively,
you can pay into a Kent Reliance account
by setting up a standing order, via BACS or
using an online funds transfer facility. You will
need to supply the following details to your
bank: |
| a) |
Sort
code: 62-24-97. |
| b) |
Account Number:
00000000 (eight zeroes). |
| c) |
Reference/Roll
Number: Your Kent Reliance
Account Number
for example DIS5123456ABC. |
| d) |
Amount to
be transferred. |
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If you are paying in by CHAPS,
you will need the following details,
| a) |
Sortcode:
60-05-09. |
| b) |
Account Number:
55258085. |
| c) |
Reference/Roll
Number: Your Kent Reliance
Account Number
for example DIS5123456ABC. |
| d) |
Amount to
be transferred. |
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Passbook based account holders
can pay in cash or by cheque at a branch or
agency (only in Kent). Please note that cash
cannot be sent through the post to Head Office.
Note: You are now allowed to invest up to
£3,600 in Cash ISAs for a tax year. |
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Q. How do I make a
withdrawal from my account?
You can withdraw money by postal requests
to Head Office or through our branch or agency
network.
If you have a passbook based account, we will
need your passbook along with your postal
request. Alternatively, you can make withdrawals
from our branch or agency network.
We can send cheque's or transfer the funds
directly into a nominated bank/building society
account via BACS free of charge. A fee of
£25 is applicable for CHAPS withdrawals. The
funds will be available in the designated
account by the end of the same business day.
For more details please click
here |
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Q. How do I obtain
the necessary stationery to operate my account?
You may request stationery by contacting us
by phone, e-mail or by writing to our
Head Office. You could also download additional stationery
from the downloads
section on our website. |
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Q. When will my account
start earning interest?
Your account will start earning interest from
the day it was opened. For Cash ISA transfers
in and additional deposits made, the interest
is payable from the day we receive the cheque. |
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Q. How long do I have
to wait before I can withdraw against a cheque
deposit?
You must allow six clear working days for
clearance on all cheques paid in before withdrawal
can be made against them. |
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Q. How can the interest
be paid gross to me?
A completed R85 form should accompany your
application for the interest to be paid gross.
Please note that one R85 form is required
for each new account opened. A completed R85
form is required even for the Children's account
in order for the interest to be paid gross. |
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Q. How do I know the
interest added to my account?
The annual statement of interest will be sent
to all account holders, shortly after 5th
of April every year. |
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Q. When will I get statements
of my account?
Annual statements of accounts will be sent
after the end of the tax year in April. Quarterly
statements will be sent for Direct ISA, Direct
regular savings account and Direct 60+ savings
account holders in January, July, and October.
This will be only to those account holders
who make a minimum of one transaction in that
respective quarter of the year. |
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Q. How safe is my money
with Kent Reliance?
We are regulated by the FSA and we are a member
of the Financial Services Compensation Scheme. With effect from 7 October 2008, the limit for compensation payments is 100%
of the first £50,000 for each depositor. Please
note that we do not lend in the sub prime
market and more than 80% of the capital raised
at Kent Reliance is from our members. |
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Q. How do I add or remove
someone from my account?
To add another applicant to an account, kindly
send us a fresh application with the details
of both the applicants and a covering letter.
To remove someone from a joint account, simply
send a written request to the Head Office
with the signature of both parties. |
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Q. Can Kent Reliance
offer me advice?
Kent Reliance does not offer advice but we
can give you all the information you would
like about our products and services, to enable
you to make an informed decision. |
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Q. I am the executor
for the estate of a deceased Kent Reliance
Account holder. How do I go ahead about closing
this account?
Please send us the death certificate and the
probate along with a covering letter. The
probate is required if the aggregate balance
of all the accounts of the deceased exceeds
£5,000. We will need either an original copy
or a certified photocopy of the death certificate.
However, the probate sent should be the original
copy. |
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Q. How do I operate
my Direct 60+ savings account?
You can make payments by sending us a cheque
made payable to yourself with your account
number on the reverse. Alternatively, you may
arrange for a BACS transfer in or set up standing
orders. For withdrawals simply send us a withdrawal
slip or a standard letter and we will transfer
the money via BACS into the nominated account.
Please note that we do not allow cheque withdrawals
for this account. |
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| Cash
ISA FAQ's |
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Q. What are my ISA
investment options?
From April 2008, you will be able to invest
in one Cash ISA and one Stocks and shares
ISA each tax year. The annual ISA investment
allowance has now risen to £7,200 per tax
year. Up to £3,600 of that allowance can be
saved in cash with one provider. The remainder
of the £7,200 can be invested in a Stocks
and shares ISA with either the same or another
provider.
The maximum amount that can be invested in
a Cash ISA for this tax year is £3,600. |
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Q. What happened to
my existing ISAs?
Mini cash ISAs, TOISA's and the cash component
of a maxi ISA are reclassified as 'Cash ISAs'.
Mini stocks and shares ISAs and the stocks
and shares component of a maxi ISA are reclassified
as 'Stocks and shares ISAs' (Kent Reliance
does not offer a Stocks and shares ISA). |
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Q. I have a Tessa only
ISA with you. Will that be converted to Cash
ISA now?
All the Tessa only ISAs will now be treated
as Cash ISAs. This means that the Cash ISA
allowance for the current tax year can be
paid into this account or to your existing
Cash ISA account (if you also had a mini cash ISA with us). Please note that you can
make the payment only to one of these accounts. |
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Q. Do I have to complete
any additional forms to make a deposit into
my Cash ISA for this tax year?
You do not need to send us any additional
forms while making an additional deposit into
your Cash ISA for this tax year. However,
you will be asked to complete a missed subscription
form if you did not subscribe to an ISA with
us the previous tax year. This form will be
automatically sent out on receipt of the deposit. |
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Q. How do I transfer
out my Cash ISA (previously Direct mini cash/TESSA
only ISA) with Kent Reliance to another provider?
Is there a fee or notice period required?
You will need to contact the new provider
for this. There are no fees for transferring
out a Kent Reliance Cash ISA and no notice
period has to be served. Kent Reliance does
not offer partial transfers out. |
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Q. How long will it
take for the transfer? Will I lose the interest
for these days?
Kent Reliance subscribes to the Banking Code
which makes us liable by law to action the
transfer within 30 days from the date of receipt
of the transfer request from the new provider.
Please note that we pay interest until the
day your account is closed with us. |
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Q. Do you accept transfers in
of Cash ISAs (Previously Mini Cash ISAs/TESSA
only ISAs)? How do I go about it?
Yes, we do accept transfers in of Cash ISAs.
All you need to do is simply send us a completed
transfer form for a Cash ISA along with an
application form for a Cash ISA. We will write
to your existing provider requesting for the
funds to be transferred to us. (Please note that existing KRBS ISA account holders do not need to send an application form). You could also download
forms from the downloads
section on our website. Alternatively, we can
post the relevant forms if you contact us
via phone, e-mail or letter. |
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Q. I have already invested
this year's allowance with another provider.
But I want to transfer my previous year's
ISA balances to you. Is that possible?
Yes, it is possible. You could transfer your
previous year's Mini Cash ISA, TESSA only
ISA or cash component of a Maxi ISA to us.
*Calls to 08451 numbers
from BT landlines will cost no more
than 5p per minute, the price of calls
from other telephone companies may
vary. For customer service and training
purposes, calls to Kent Reliance may
be monitored and/or recorded. |