There are a few rules when it comes to cash ISAs, including: 

• You can only save up to £20,000 per year into your ISA. 
• You must be over the age of 16 to set up a cash ISA in the UK. 
• You can only pay into one of each type of ISA per year. For example, you can pay into one cash ISA, one stocks and shares ISA and one innovative finance ISA in a single tax year, but you can’t pay into two individual cash ISAs in a single tax year. You can, however, open two cash ISA accounts as long as you only pay into one per tax year.  

For a comprehensive overview of your specific cash ISA’s rules, please read the account terms and conditions.  

You can withdraw money from a cash ISA at any given time without losing your tax benefits. However, how withdrawals impact your saving potential will depend on whether your ISA is a flexible account.   

If you save £10,000 in your cash ISA during the 2023/24 tax year and withdraw £2,000, you will now only be able to save a further £10,000 that year (giving you a total of £18,000). But, if your ISA is flexible, you’ll be able to put money you withdraw back into the account, leaving you able to save a further £12,000, taking you to a total of £20,000.   

We work with the cash management platform Akoni Hub Limited, a sister company of Save More Money, which takes care of the administrative functions of our ISAs on behalf of Stubben Edge Risk Limited (SERL) the ISA Manager.

The deposit products underlying the cash ISA we currently offer are from Santander International, but we plan to add more bank partners over time.