Mobile App Only ISAs
Compare ISA’s available only via a mobile app to give you potentially higher rates on offer
- Term: Instant Access
- Invest From: £1
Mobile app only account. *Sign up to Chip and enter the rate boost promo code MARCHBOOST deposit at least £1 within 14 calendar days and you will get a boosted rate of 0.68% AER on top of your Chip Cash ISA account (basic rate 4.32% AER). Interest paid monthly. Built to move inline with Bank of England base rate. Unlimited deposits and withdrawals. Flexible ISA: withdraw and deposit as many times as you like, without it affecting your annual ISA allowance. ISA transfers also allowed in. Open in minutes: No forms, no fuss. All you need is an existing bank account and your National Insurance number. Covered by FSCS. Must be UK resident and be aged 18 or older
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Mobile App only ISA account. *Up to three withdrawals can be made within each 12-month without affecting the interest rate. The Moneybox Cash ISA includes a 4.20% AER variable underlying rate and a bonus rate of 0.57% for the first 12 months. More than three withdrawals made within each 12-month period, a lower rate of 0.75% (variable) will be applied. Up to three withdrawals can be made within each 12-month period from the date of opening without affecting the interest rate. Transfer in any ISAs you hold with other providers into a Moneybox Cash ISA, entirely in-app. Covered by FSCS. If more than three withdrawals made within each 12-month period, a lower rate of 0.75% (variable) will be applied for the rest of that 12-month period. The lower interest rate of 0.75% will also apply if the account balance dips below £500, automatically returning to the higher interest rate when the balance returns to £500 or more again. Must be UK resident and be aged 18 or older
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Mobile App only ISA account. *Up to three withdrawals can be made within each 12-month without affecting the interest rate. The Plum Cash ISA includes a 3.54% AER variable underlying rate and a bonus rate of 1.22% for the first 12 months. More than three withdrawals made within each 12-month period, a lower rate of 2.50% (variable) will be applied. Includes a bonus of 1.22% AER (variable) if account held for 12 months. Transfer in any ISAs you hold with other providers. Interest rates drop if more than three withdrawals per year. Covered by FSCS. Rate when you transfer in your existing ISA – 3.54% AER (variable). Rate for each 12-month period after your first 12 months – 3.79% AER (variable). Rate when balance drops below £100 or after your fourth annual withdrawal – 2.50% AER (variable). Must be UK resident and be aged 18 or older
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Lightyear’s Cash ISA pays whatever the current Bank of England base rate is (currently 4.50%). Unlimited deposits within HMRC ISA limits, and withdrawals. Transfer in any ISAs you hold with other providers. Flexible ISA: withdraw and repay into the same ISA in the same tax year without it counting towards your annual allowance. Interest earned daily, paid monthly. Variable rate of interest, will move in line with Bank of England base rate. Must be UK resident and be aged 18 or older. Lightyear Cash ISA money is invested into QMMFs and therefore capital is at risk.
Show MoreEasy Access ISA
The Individual Savings Account is becoming the first port of call for tax free saving in the UK. Available to UK savers, the ISA is an account where no tax is charged on the interest. That means that any money accrued over the period of saving or investment, is not tax deductible.
There are a number of account types under the ISA, one of which is the Easy Access ISA. An easy access ISA is one that does as it literally denotes. The account holder is allowed a lot of leeway in accessing the account. The easier access to the account means that the individual can withdraw money without restrictions in duration. In most instances, the withdrawals do not have a penalty fee regardless of amount and times withdrawn. This is however dependent on the bank that you are registered with. Similarly, you get the ease of depositing money into the account. A typical ISA allows for a certain standard limit on the total amount that can be deposited into the account on an annual basis. With an easy access ISA, you get to deposit as much money as you wish into the account without restrictions.
Easy Access ISA Restrictions
Though the account allows for easier access to funds transfer, there will be often certain restrictions put in place by the ISA provider. These might include:
- The amount of money that can be withdrawn is only limited to that which is within a tax year and cannot be from the previous year
- The amount of money that can be deposited; though with greater fluctuation in terms of period and amount per instalment, should not exceed the limit. The limit is £20,000 for the 2023/24 tax year
- The money that can be withdrawn is limited – this may be stipulated by the bank.
Conclusion
An easy access ISA is a great account option for an individual who requires flexibility in withdrawal and deposit of money within the account. However, since there are often fixed or predetermined rates of withdrawal, one should always check with the bank before signing up for the account. Individual banks and credit institutions have different restrictions so it is best that you do your research before getting the account. It is also best to familiarize oneself with other ISA account types so as to explore all options.