MLC is a member of the National Australia Bank Group of companies which was appointed to manage your Cash ISA. As Yorkshire Bank has now become an ISA Manager it has been decided to transfer the management of the Cash ISAs from MLC to Yorkshire Bank. By consolidating all your existing MLC Cash ISAs into a single Yorkshire Bank Cash ISA you may benefit from our tiered interest rates.

Currently, your MLC Cash ISA money is held on deposit with Yorkshire Bank with the ISA being managed by MLC. The money will remain in Yorkshire Bank, as it is only the manager that is changing not where the money is held on deposit. This means that there is no change to your qualification under the Financial Service Compensation Scheme and your deposits will be secured up to £50,000 under this scheme.

This communication relates to the management of the MLC Cash ISA only.

There is no action required by customers. We will carry out the transfer of the management of the Cash ISA from MLC to Yorkshire Bank. You can continue to operate your ISA under the existing arrangements. As stated in the accompanying letter there will be no change to the benefits of the ISA.

No, there is no impact or change to your ISA allowance as a result of the change of plan manager and there is no loss of your subscriptions. The regulations permit transfer of plan manager without the loss of tax relief under current ISA rules.

Your Direct Debit will continue to be collected for the same amount and on the same day as your MLC Cash ISA payment was collected. You need take no action. In the letter we sent you we enclosed a formal notification of the change we are making in line with the Direct Debit Guarantee scheme.

No, as part of the transfer MLC will amalgamate your separate MLC Cash ISAs and transfer the total amount to one Yorkshire Bank Cash ISA account. This will ensure that you attract the maximum interest on our tiered interest rates.

Yes the interest paid on both MLC and Yorkshire Bank Cash ISAs will be the same at the point of the transfer however, where you hold more than one Cash ISA account, we'll transfer the balances into a single account to ensure that you attract the maximum interest on our tiered interest rates. Following the transfer MLC will no longer offer a Cash ISA element within their ISA offering.

Yorkshire Bank will make the necessary interest adjustment to your new Cash ISA account to make sure you don’t lose out on the interest you could have earned between these dates.

For simplicity we have noted Customer Information - Cut Off Dates, that will apply to money being paid into and out of your Cash ISA account. Due to the volume of accounts being transferred from MLC Cash ISA to Yorkshire Bank Cash ISA there is an agreement between MLC and Yorkshire Bank to ensure any customer instructions not carried out in time for the transfer are passed between Plan Managers to ensure all customer instructions are processed in a timely manner. MLC Contact Centre 0870 607 3344 should be contacted between the hours of 8am–8pm Monday to Friday regarding any enquiries on your MLC Cash ISA. Once your Cash ISA is transferred to Yorkshire Bank you should contact your local branch, Relationship Manager or the Customer Contact Centre on 0800 587 5000 between the hours of 8am–8pm Monday to Friday and 9am-5pm Saturday.
*Yorkshire Bank is a trading name of Clydesdale Bank PLC.

Customer Information – Cut Off Dates
Cash ISA instructions forwarded by post to MLC
15 May 09	Final day MLC can process top-ups into a MLC Cash ISA in branch
22 May 09	Final day MLC can process withdrawals and Transfer Out instructions
22 May 09	Transfer of MLC Savings Cash ISA to Yorkshire Bank Cash ISA
26 May 09	Transfer of MLC Savings Cash ISA to Yorkshire Bank complete – new account opened
Cash ISA transactions in branch
27 May 09	Ability to transact Yorkshire Bank Cash ISA in Yorkshire Bank branches

You will receive confirmation of the transfer from MLC early June

You will receive a closing statement from MLC early August

You will receive confirmation of the transfer to Yorkshire Bank early June

You will receive your first statement from Yorkshire Bank early January 2010 and annually thereafter

No, but you will be able to use Telephone and Internet Banking after 30th June 2009 to top-up, withdraw funds and monitor your Cash ISA account.

a) Yorkshire Bank is a trading name of Clydesdale Bank PLC, which is a member of the National Australia Bank Group (the “Group”). The Group (which is referred to as "we", "us", or "our") includes National Australia Group Europe Limited, each subsidiary or holding company thereof from time to time and each subsidiary from time to time of any such holding company. A complete list is available on request. Yorkshire Bank will share information about you with other members of the Group. The following sections explain in more detail how and for what purposes the Group will use your personal information.
b) We currently may hold personal and financial information about you and may obtain or receive such information about you in the future. The information we process about you will be obtained from various sources including: directly from you; from your dealings with any member of the Group including from the transactions and operation of your accounts and services; from other organisations including fraud prevention agencies; and from persons who know you including joint account holders and persons with whom you are financially linked in the context of a particular product. For our internal operational reasons we may link information concerning your accounts with us to information concerning other products and services we provide to you. We may also link your information to that of other individuals with whom you are financially associated. Such information may also include sensitive personal data, such as information relating to your health; criminal convictions or proceedings. However we only hold such data where we need to for the purposes of the product or services we provide to you or it is in our normal course of business to do so.
c) We will use your information to operate and administer the products and services we provide to you; to assess the suitability of our products and services for you; to analyse the operation of your accounts and services and your purchasing preferences; to develop, improve and market our products and services generally; for the prevention of fraud and money laundering; for market and product analysis purposes; and for debt recovery purposes. We may also use your information for system testing purposes.
d) We will treat all your information as confidential and will not give your information to anyone except where we are permitted to do so by law; we have a public duty to disclose the information; we need to do so to comply with the requirements, codes or recommendations of any of our regulators; we have your consent (which is not necessarily required to be in writing); it is necessary for the performance of any product or service that we provide to you; or we have transferred any of our rights or obligations to another party.
e) If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies. Law enforcement agencies may access and use this information. We and other organisations may also access and use this information to prevent fraud and money laundering, for example, when checking details on applications for credit and credit related or other facilities; managing credit and credit related accounts or facilities; recovering debt; checking details on proposals and claims for all types of insurance; or checking details of job applicants and employees. We and other organisations may access and use from other countries the information recorded by fraud prevention agencies. If you would like details of the agencies from which we obtain and record information about you, please write to: Central Refer Unit, 20 Merrion Way, Leeds LS2 8NZ.
f) From time to time we will engage service providers, agents and subcontractors to provide services. They will have access to, and will process, your information on our behalf to provide such services. We are a Global Group. We may need to transfer your information abroad to other Group companies, service providers, agents and subcontractors in countries where they may not have data protection laws providing the same level of protection as those in the European Economic Area, such as Australia, New Zealand and the USA. In each of the above circumstances, we will ensure that your information is processed only in accordance with the applicable legislation and under strict obligations of confidentiality.
g) We wish our service to meet your expectations on all occasions. To do so we need the information we hold about you to be accurate and up to date. Please help us by informing your branch promptly of any changes to your personal circumstances or details.
h) You are entitled to a copy of the personal information we hold about you on payment of a fee. For further information on your rights under the Data Protection Act, you can contact The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire SK9 5AF, or visit www.ico.gov.uk.
i) We may contact you to inform you about products and services supplied by ourselves or selected third parties that we consider may be of interest to you. We will not pass your information to anyone outside our Group for their own marketing purposes. You can inform us at any time if you do not want to receive marketing information.