Is the Help to Buy: ISA included?
Help to Buy: ISA is also included in our prize draw, as long as you increase your balance by £100 or more between 6 March and 30 April 2020 and meet the below terms and conditions.
Terms and Conditions
*By entering the Cash ISA Prize Draw you agree to these terms and conditions.
The Cash ISA Prize Draw is a free prize draw. These terms and conditions are separate to the terms and conditions and interest rate that apply to your cash ISA(s).
You will automatically be entered into the prize draw if you qualify for entry (see ‘How to qualify for entry’ below).
How to qualify for entry
+You must be aged 16 or over and live in England, Wales or Scotland. If you work for Nationwide Building Society, you are not eligible to enter the Cash ISA Prize Draw.
Between 6 March 2020 and 30 April 2020 (the ‘funding window’), you must increase the total amount you hold (your balance) in one or more Nationwide cash ISA products by at least £100.
You can do this by:
- Increasing the total balance in one or more of your existing cash ISA products by at least £100. For example, you can pay £100 into one existing cash ISA product or you can pay £40 to one cash ISA product and £60 to another, as long as the total balance increase is at least £100.
- Opening a new cash ISA product and paying in at least £100
- Paying in at least £100 using a combination of the two ways described above.
You can’t exceed your annual ISA allowance, but you may be able to use your 2019/20 allowance and/or your allowance for 2020/21 to increase the amount you hold in your cash ISA product(s) during the funding window.
Some of our cash ISA products limit the amount you can pay in too. For example, if you already have a Fixed Rate ISA you can’t pay any more money into it, but you may be able to open a new Fixed Rate ISA instead.
You can only qualify for entry into the prize draw once, even if you pay in more than £100 between 6 March 2020 and 30 April 2020.
When you need to increase your balance to qualify
You need to increase the total balance you hold in cash ISA products by at least £100 by 11.59pm on 30 April 2020 to qualify for the prize draw.
For example, if you pay £100 into your cash ISA on 16 March and take out £500 from that cash ISA or any other cash ISA product you hold with us, on 17 March you need to pay in at least £500 more by 30 April and not take any more money out before 1 May 2020.
For money being transferred in from another ISA manager to be included in your balance increase, we must have received your completed transfer instruction by 11.59pm on 30 April 2020.
What doesn’t count towards increasing your balance
- Any money you pay into a Smart Junior ISA.
- Any money paid into one or more of your cash ISA products during the funding window if it’s later rejected. For example, a cheque paid into your account returned unpaid, or a payment that takes you over your annual ISA allowance.
- Any interest paid into your cash ISA products during the funding window.
The prize draw
The prize draw will take place on 21 May 2020. If the prize draw can’t take place on this date, we’ll hold it as soon as we can afterwards.
We’ll choose the winners at random from all the account holders entered in the prize draw.
The prizes for the prize draw are:
10 prizes of £20,000 (the first ten account holders selected in the prize draw)
10 prizes of £10,000 (the next ten account holders selected in the prize draw)
40 prizes of £5,000 (the next forty account holders selected in the prize draw)
We won’t pay the prize draw winnings to anyone other than the winner or their representative. This could be an attorney appointed by the winner.
What happens if you win?
Within 30 days of the prize draw taking place we’ll contact you using the details that we hold for you. You can then ask us to pay the prize to you by sending it to an account in your name, or by sending you a cheque.
We may ask you to take part in publicity relating to the prize draw, but you don’t have to agree to this.
If we’re not able to contact you and the prize remains unclaimed for more than six months, we reserve the right to pay the prize to charity.
**The annual ISA allowance for the 2019/2020 tax year is £20,000.
The treatment of your account for tax purposes will depend on your individual circumstances. All tax information is based on our understanding of current law and HM Revenue & Customs practice, both of which may change.