If you are looking to invest for the long term, want stock market linked returns but accept the risk to capital that comes with investing in the stock market, you could invest in a Wealthify Stocks & Shares ISA or Junior ISA. As with all investments, your capital is at risk and you may get back less than you invest.
Once we've received this, we'll ask your existing provider to transfer the money to us.
We'll pay interest at your new rate from the day we receive your completed transfer application - provided your funds are free to move.
If there is a delay in the transfer because your existing ISA has a notice period or restriction, your current provider will let us know when it will be free to move to us and we'll pay the interest from that date.
Check with your current provider if there are any costs to transfer your cash ISA.
Cash ISAs will take no more than 15 working days to transfer.
Stocks and shares or innovative finance ISAs will take no more than 30 days to transfer. To transfer an innovative finance ISA you will need to pop into branch.
You cannot transfer a Lifetime ISA to us.
Remember if you withdraw money from a previous ISA with another provider, you will need to replace the withdrawn money before you transfer it to us, otherwise you will no longer be able to repay that money in to your ISA, and it won't be tax-free.
An ISA (Individual Savings Account) is a tax efficient way to save or invest. Unlike other savings accounts you don’t pay tax on money held in an ISA, regardless of your balance or how much income tax you pay.
Tax free means the interest paid will be free from UK Income Tax. The tax advantages depend on your individual circumstances and the tax treatment of your ISA may change in the future.
What is the ISA allowance?
The government sets an allowance for each tax year which states the maximum you can save tax free. Each tax year runs from 6 April to 5 April the following year. The ISA allowance for the 2020/2021 tax year is £20,000 and £9,000 for Junior Cash ISAs.
Who can apply for an ISA?
You must be a UK resident and 16 years old or over to apply for a Cash ISA. Under 18s can apply for a Junior Cash ISA.
TSB Cash ISAs
Cash ISAs allow you to save tax free. They give you instant access to your savings or a fixed rate of interest over a few years. If you’re starting to think about saving, a Cash ISA could be a good place to start. TSB offers four different ISAs.
How do I top up an existing TSB Cash ISA?
If you already have an existing TSB Cash ISA, you can top it up in one of three ways:
Internet Banking - select the account you want to make the payment from and then select "Make a transfer"
Mobile app – tap “Move money” and then follow the steps
Some customers may be prevented initially from adding money to their existing cash ISAs from 6 April. This is due to the Government’s requirement to request that customers agree a new ISA declaration if they did not add money to their cash ISA in the previous tax year. It’s easy to reactivate your cash ISA. Simply log in to Internet Banking, select the cash ISA you want to add money into, click reactivate and follow the online instructions.