Notices

Savings customers - the interest rates on many of our variable rate savings products will be decreasing from 6 January 2025. Find out more

We will be emailing or writing to you shortly to let you know of how these decreases affect you. In the meantime, you can see all of these changes here.
Mortgage customers - our Managed Mortgage Rate (MMR) will decrease by 0.25% from 20 January 2025. Find out more:

From 20 January 2025, we'll be decreasing our Managed Mortgage Rates (MMR) by 0.25%. All on-sale discounted variable product rates and other details, including representative examples displayed on our website, have been updated to reflect these lower rates.
We will be writing to existing customers who have been impacted by this change, shortly, with details relevant to them.
View our Christmas opening hours here. For information on bank transfer processing times over the Christmas period please click here.
Rate changes following Bank of England decision to decrease its Bank Rate by 0.25% to 4.75% on 7 November 2024. Find out more

Savings: Interest rates for Windfall Bond and Tracker Savings Bond will decrease by 0.25% from 1 December 2024. We will be writing to all customers individually to confirm the new rates.
Mortgages: Tracker mortgages will change on 25 December 2024 and we will write to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage.
(Notice updated 08/11)

Flexible ISA (3)

Easy access to your savings with the ability to withdraw and replace money without affecting your annual ISA allowance.

Your savings are protected.

Annual interest (AER gross)	Account rate type	Minimum opening amount	Additional information	Monthly interest option?	Withdrawal limits	Available to new customers?
3.25%	Variable	£500	Manage online.	No	12 allowed annually.	Yes

Key features

View summary box

Apply for an account online, by post or at our Epsom branch
Save from £500 up to £250,000
Minimum withdrawal £100
Save up to the annual statutory limit of £20,000 for the 2024 / 2025 tax year
Tax-free interest earned from the day we receive your investment (subject to identification requirements being met)
Variable interest rate - may go down as well as up
Interest paid annually on 30 September and added to the account
Add to your savings* by debit card (online only via the Online Service), by transfer from your bank account, by cheque, by transfer from another savings account with us or by cash
Transfers from ﬂexible and non-ﬂexible Cash ISAs are accepted however cannot be applied for online
Transfers of any current tax year subscriptions would need to be made in full, however you can transfer part or all of any previous years' Cash ISA savings
Please note, transfers from Stocks & Shares ISAs are not permitted
Easy access to your savings with up to 12 withdrawals available per calendar year without an access charge and can be paid by transfer to your bank account, by transfer to another account with us or by cash
Withdrawals, closure and transfer to another ISA provider without an access charge
Ability to withdraw and replace money without the replacement counting towards your annual ISA subscription limit
Replacement money must be repaid in the same tax year it was withdrawn
Withdrawn money from previous years’ ISA subscriptions can only be replaced in the account from which it was withdrawn
This account can be opened and/or operated by an Attorneys, Deputies or Third Parties (see below for more details).

* You can pay into your savings account by bank transfer, or if you’re registered for our Online Service you can add to your savings account using your debit card. You can find more details about how to fund your savings account here.

Before you apply, please read the account summary box below. It is not intended to be a substitute for reading the Product Features leaflet and General Conditions for our Savings Account booklet.

Apply online Account info downloads Request a callback

Already an existing customer registered to our Online Service? You can apply using our Online Service

Account summary box

Account name

Flexible ISA (3)

What is the interest rate?

Rate effective from 7 September 2024	Tax-free¹AER²
£500+	3.25%
Rate effective from 6 January 2025	Tax-free¹AER²
£500+	3.10%
Interest is calculated daily and paid annually on 30 September.

Can the Family Building Society change the interest rate?

Yes, the interest rate is variable and may be changed. Please refer to Section 14 of the General Conditions for our Savings Accounts booklet for more information on when we may make changes to the interest rate and how this will be communicated.

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

Opening balance	Projected balance (Gross)
£1,000	£1,032.50
This projection assumes that the account is opened with the stated amount with no additions or withdrawals made. Projected balance is at the end of 12 months All projections are provided for illustrative purposes only and do not take into account individual circumstances Actual interest may depend on the date the account is opened and the date that interest is paid.

How do I open and manage my account?

This ISA can be applied for online, by post or at our Epsom branch
Transfers from flexible and non-flexible Cash ISAs are accepted however cannot be applied for online. Please allow up to 15 working days for the transfer process to fully complete. If you’re transferring in current tax year subscriptions, then you must transfer all of this value to us. We will not accept partial transfers of any current tax year subscriptions. However, you can transfer part or all of any previous tax year Cash ISA savings
A minimum of £500 must be deposited
An annual statutory limit of £20,000 for the tax year 2024 / 2025 can be deposited, plus transfers of previous tax years' subscriptions
A maximum of £250,000 may be held in the account
Instructions for the account can be made via the Online Service, by phone, by post or at our Epsom branch.

Can I withdraw money?

Up to 12 withdrawals are permitted per calendar year, with a minimum withdrawal of £100, and can be paid by transfer to your bank account, transfer to another savings account with us or by cash. Please see the ‘Taking money out’ section of the Product Features leaflet for full information
Withdrawals can be replaced without counting towards your annual ISA subscription limit
Replacement money must be repaid in the same tax year that it was withdrawn
Withdrawn money from previous years’ ISA subscriptions can only be replaced in the account from which it was withdrawn
Transfer to another ISA provider is allowed, however, we do not allow partial transfers of current tax year subscriptions.

How can I make deposits?

Additions are allowed but not required on a regular basis
Additions to the account can be made by debit card (online only via the Online Service), by transfer from your bank account, by cheque, by transfer from another savings account with us or by cash
An annual statutory limit of £20,000 for the tax year 2024 / 2025 can be deposited, plus transfers of previous tax years' subscriptions.

Additional information

Tax status: Tax-free (the future tax treatment of Individual Savings Accounts may vary) Interest is paid annually on 30 September and available the following day.

This issue may be withdrawn at any time without prior notice.

¹Interest is paid tax-free as it is currently exempt from income tax. The future tax treatment of Individual Savings Accounts may vary.

²AER stands for Annual Equivalent Rate and illustrates what the annual rate would be if interest was compounded.

All financial information correct on 13 December 2024.

Account information downloads

Flexible ISA Product Features Leaflet
Flexible ISA Summary Box Flyer
Financial Services Compensation Scheme Information Sheet
How we use your personal information
General Conditions for our Savings Accounts
Tariff of savings charges

How to apply – Transfer of an existing Cash ISA only

You can apply to transfer an existing Cash ISA to a new Flexible ISA account in the following ways:

• By visiting our Epsom branch, which can be found in Ashley Square, Epsom, Surrey, KT18 5DD
• Request an application pack over the phone: Call us on 03330 140141

Please note, you can't apply online to transfer an existing Cash ISA into a new Flexible ISA if you are not adding new money as part of this year's ISA subscription. However, you will be able to manage your account online once it has been opened. If you are a new customer, you should wait to receive your new ISA account number from us before registering for our Online Service. Your account number will be sent to you once the transfer has been completed and your new account opened. If you already use our Online Service, you do not need to register again to view the account once it has been opened.

To transfer your existing Cash ISA to the Family Building Society, you will need to complete and send us both a Flexible ISA Application Form AND a Cash ISA Transfer Authority Form. We will then notify your current ISA provider so that the transfer can begin in line with their terms and conditions. The process can take up to 15 working days from receipt of an application form and transfer request form to the new account being opened. It varies depending on the speed with which your existing ISA manager responds to our request.

How to apply – Current year’s ISA subscription

You can apply to open a Flexible ISA account with money for this year’s ISA subscription in the following ways:

By visiting our Epsom branch, which can be found in Ashley Square, Epsom, Surrey, KT18 5DD
Request an application pack over the phone: Call us on 03330 140141

Please note, if you are a new customer to the Family Building Society, the verification code needed to use the Online Service to view and manage your account will be sent to you when your new account is opened.

If you are transferring an existing Cash ISA to the Family Building Society as well as adding money as part of this year’s ISA subscription, you will need to complete a Cash ISA Transfer Authority Form as well as a Flexible ISA Application Form (obtained either from your online application or the application we send you in the post). On receipt of these we will then notify your current ISA provider so that the transfer can begin in line with their terms and conditions. The process can take up to 15 working days from receipt of an application form and transfer request form to the new account being opened. It varies depending on the speed with which your existing ISA manager responds to our request.

Operating an account on behalf of someone else

This account can be opened and operated by Attorneys and Deputies. It can also be operated by Third Parties. For full details click here.

Use of a debit card to deposit savings

To add to your account using your debit card, you will need to register for our Online Service. You can’t use your debit card to add money to your account over the phone. Please note that the debit card you use to deposit money via the Online Service should be registered to the address we hold for you.

Debit card transactions are subject to approval by your bank and may be declined if you do not have sufficient funds available in your bank account or the transaction exceeds your bank's anti-fraud limits.