To open an account, please visit one of our branches.
This account is only for UK resident individuals aged 16 or over (subject to an exception for certain Crown employees, their spouse or registered civil partner).
From 6 April 2023 the overall ISA subscription limit for 2023-24 will be £20,000. New subscriptions can be split in any proportion between Cash and Stocks and Shares ISAs as the saver chooses. However, a saver will only be able to pay into a maximum of one Cash ISA and one Stocks and Shares ISA each year.
Accounts can be opened with a minimum amount of £1000 and the maximum that can be held in this account is £500,000. You may invest up to the maximum Cash ISA limit in a single tax year.
Withdrawals have no effect on the subscription limits. This means that once the limit has been reached for the tax year you cannot make any further investments in that year regardless of any withdrawals made.
Transfers in of ISA funds are permitted – please visit one of our branches for details.
Please note that we do not allow transfers of Stocks & Shares ISAs.
- Investments must be in your sole name only
- You may subscribe to only one Cash ISA in any one tax year
- You must be resident and ordinarily reside in the UK
- You will be and must remain in beneficial ownership of the investment and it must not be used as security for a loan
- The Society will notify you, if by reason of any failure to satisfy the provisions of the ISA Regulations, your Cash ISA has, or will, become void
- In the event of death before 6th April 2024, any interest due up to the date of death will qualify for income tax exemption, but not thereafter as the account will cease to be an ISA
- In the event of death on or after 6th April 2024, the account will be designated as a "continuing account of a deceased investor" or "continuing ISA" and interest accrued before and after date of death will be exempt from tax. The ISA will continue until either:
a) the completion of the deceased's estate
b) the day after the 3rd anniversary of the investor's death
c) the closure of the account.
- In the event of you opening a Cash ISA, the application remains valid for subscriptions made in the next and consecutive years. However, where a break between subscriptions lasts for a whole tax year, we will need a fresh application before subscriptions can recommence.
Whilst this product is available, you can pay in any amount up to the annual ISA subscription limit. Once the product has been withdrawn, you will not be able to pay in any further funds to this account.
This means that you may not be able to utilise your full ISA allowance, unless you deposit £20,000 at account opening.
To open an account, please visit one of our branches. Manage your account by visiting a branch or by forwarding your written instructions to us.
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