Changes to Champion savings accounts FAQs

On 1 March 2017, your Champion ISA became Instant ISA Saver, and Champion Saver became Instant Saver. Below are some Frequently Asked Questions that provide information about the changes and what they mean for you.

The interest rate for your Champion ISA and Champion Saver was calculated by taking the average of the five highest Competitor Rates from the Providers and Included Accounts, as taken from Defaqto on the second Monday of each month and we paid at least this rate. This meant that, as interest rates in the savings market continued to fall, so did the rate you received on your Champion ISA and Champion Saver. As a result, we’ve changed your account to a simpler variable rate product. Additionally, at this time we can offer you a higher interest rate on your new account.

No, you don’t need to do anything and you can continue to use your account in the same way.

If you’d like to review your savings needs, see our full range of savings accounts.

These changes happened on 1 March 2017.

Below is a summary of the main changes to your account. You can continue to manage your account in exactly the same way, in branch using your passbook or online using the Internet Bank, if you’re registered. Any payments set up to and from the account will also continue as normal.


Champion Saver Instant Saver (from 1 March 2017)
Your interest rate 0.15% gross p.a./AER (variable) 0.25% gross p.a./AER (variable)
How your rate is calculated Is calculated by taking the average of the five highest branch based competitor rates and paying at least this interest rate each month* A variable rate which we can change both up and down
When your interest is paid 31 December each year 31 December each year
How many times can you take money out As many as you like As many as you like


Champion ISA Instant ISA Saver (from 1 March 2017)
Your interest rate 0.35% AER/tax-free (variable) 0.50% AER/tax-free (variable)
How your rate is calculated Is calculated by taking the average of the five highest branch based competitor rates and paying at least this interest rate each month* A variable rate which we can change both up and down
When your interest is paid 30 September each year 30 September each year
How many times can you take money out As many as you like As many as you like

* Taken and verified by Defaqto on the second Monday of each month from providers Barclays, Halifax, HSBC, Lloyds Bank, The Co-Operative Bank including Britannia, NatWest, Royal Bank of Scotland and Santander. Please see the Champion ISA rates history and Champion Saver rates history support pages for details.

Your new Instant ISA Saver/Instant Saver account has a variable interest rate, which means that it can change in accordance with the terms and conditions of the account. If your rate is going to reduce and you have more than £100 in your account, we’ll write to you at least 14 days before it happens.

No, your account number will stay the same, so you can send and receive money to and from your account as normal.

No, you will not have to re-register for the internet bank. You can continue to have 24/7 access to your accounts, manage payments online and fast track your applications for new accounts.

If you’re not already registered, find out more about the Internet Bank.

Yes, the Savings Promises will continue to apply to your account. However, the guarantee that the Champion ISA rate will match or beat our Champion Saver rate will no longer apply and will be removed from our Savings Promises.

Yes, you can keep the same passbook as your account number is not changing. The name of your account in your passbook will also stay the same, so you may want to write your new account name (i.e. Instant ISA Saver or Instant Saver) on the inside cover.

All Champion Saver/ISA customers will have received a letter telling them about these changes before 30 January 2017. This means that customers will have received a minimum of 30 days’ advance notice in line with the account terms and conditions and the regulations that govern savings accounts.