These terms are in addition to the Savings and investments product guide (118kb pdf). You should also read these before applying for any ISA product.

These terms are intended to be as clear as possible. However, if you would like further explanation of any point, please contact us.

You may only subscribe to one Cash ISA in any tax year. A tax year is the period from 6 April to 5 April the following year. Multiple krbs ISA products are treated as a single ISA for HM Revenue & Customs (HMRC) purposes. Therefore, you may split your ISA allowance between multiple krbs ISA products.

The current maximum you can subscribe to a Cash ISA in a tax year is £5,340.  The government may change this limit in the future. Transfers of previous tax year ISA subscriptions from another provider do not count towards this tax year’s ISA subscription limit. Transfers of current tax year ISA subscriptions do count towards this tax year’s ISA subscription limit.

If you subscribe to a Cash ISA you will limit the amount of tax free savings in equities you are allowed to make in a Stocks and shares ISA.

A Cash ISA may only be held by an investor in his or her sole name. A Cash ISA cannot be a joint account or held on behalf of a person other than the account holder.

You must be at least 16 years old to invest in a Cash ISA.

You must be resident or ordinarily resident in the United Kingdom for tax purposes to subscribe to an ISA.

You may make withdrawals from your Cash ISA, subject to the specific terms of the account. Once withdrawn, funds cannot be replaced without counting again towards the annual subscription limit. Therefore, if you have reached the maximum limit at any time within the tax year, you cannot re-invest any withdrawn funds.

You may transfer the whole or part of your cash ISA to another ISA provider, subject to the specific terms of the account. We will complete the transfer within five working days from the date a valid transfer request is received from the new ISA provider or the date the funds become free to transfer, if later, and all other requirements to initiate a transfer are met.

We cannot accept transfers of a Stocks and shares ISA from another provider.

A Cash ISA may not be transferred from one investor to another.

For fixed rate and fixed rate end date cash ISAs with a term of one year or less, we will pay interest when it matures. For all other fixed rate and fixed rate end date cash ISAs, we will pay interest on 5 April each year and on maturity. For variable rate cash ISAs we will pay interest on 5 April each year.

The government may change the tax status of Cash ISAs in the future.

If you die, any interest due up to the date of death will be paid gross. From that date the account will cease to be a Cash ISA and interest will be subject to the deduction of tax.

Your Cash ISA must not be used as security for a loan.

HMRC regulations state that if you do not make a subscription to your Cash ISA in any tax year, you must complete a new application form, if you wish to continue to invest in subsequent years.

We will operate your Cash ISA in accordance with the current rules, regulation and legislation, which may be varied from time to time by the government.

We will notify you if your Cash ISA has, or will, become void because of any failure to satisfy the ISA rules. Any subscriptions received which breach HMRC ISA regulations will be returned to you (or, where appropriate your previous ISA provider) without interest, once we become aware of the breach.

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