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Make the most of your ISA allowance

Cash ISA

Make the most of your savings

  • Start saving with as little as £1, and take your money out when you need it
  • Save up to £20,000 tax free
  • Bring your ISA balances together in one place

ISA stands for Individual Savings Account where you don't pay tax on any interest you earn

Summary Box

Account name: Cash ISA

1. What is the interest rate?

Balance

£1 - £24,999
£25,000+

AER/Tax-free p.a. (variable)

1.50%
2.80%
Interest is paid on a tiered basis which means you'll earn one rate on your entire account balance. Interest is calculated daily and paid into your account on the last business day of October and at account closure. If you choose for interest to be paid into a nominated Ulster Bank account in your name(s), then interest will be paid into that account.

2. Can Ulster Bank change the interest rate?

Yes, these rates are variable. If the rates are going down and your balance is £100 or more, we'll give you at least 14 days' notice. If the rates are going down and your balance is less than £100, we'll inform you before the change or shortly afterwards. If the rates are going up, we'll inform you before the change or shortly afterwards. For more information please see the Your Savings Account Terms (PDF, 342 KB)

3. What would the estimated balance be after 12 months based on a range of deposits?

Initial deposit at account opening

£1,000.00
£25,000.00

Balance after 12 months

£1,015.00
£25,700.00

Interest earned

£15.00
£700.00
These are only examples and do not take into account your individual circumstances. They assume that no further deposits or withdrawals are made; there is no change to interest rates and tiers; and any interest earned stays in the account.

4. How do I open and manage my account?

Your eligibility

Cash ISAs are open to customers aged 18+. You must be a resident of the UK for tax purposes.

You can only hold one cash ISA with Ulster Bank.

If you already have a cash ISA with us, keep paying into that account.

You must:

  • not have subscribed to another Cash ISA with us or have subscribed to more than the overall subscription limit in total to a Cash ISA, a Stocks & Shares ISA, an innovative finance ISA and or a lifetime ISA in the same tax year.
  • hold the account solely in your name.

You can open and manage your account on our mobile app, online or by telephone.

To open in branch you must bring your own digital device such as a mobile or tablet and our staff can assist you opening the account yourself. You'll of course be able to phone us too if you need help managing your account. You can also pay money into your account at one of our cash deposit machine

Balance and ISA allowance

There is no minimum deposit required to open the account, no minimum deposit needs to be made on a regular basis, and there is no maximum balance limit.

However, there is a limit on the amount you can pay into your account each tax year (6 April to 5 April). This annual limit, also known as your ISA allowance, is set by the Government and may change from time to time. For the current tax year it is £20,000.

If you pay in more than the limit any excess money will be returned to you.

If you make a payment for a tax year into your Cash ISA, you can’t make any payments for that tax year into any other cash ISA except for an Ulster Bank Help to Buy ISA.

Making payments to both an Ulster Bank Cash ISA and an Ulster Bank Help to Buy ISA

You can make payments to a Help to Buy ISA in the same tax year as an Ulster Bank Cash ISA provided that:

  • the Help to Buy ISA is held with us; and
  • you don’t pay in more than the  ISA allowance between the Cash ISA and the Help to Buy ISA.

You can transfer all or part of any ISA held with another provider to us.

5. Can I withdraw money?

Yes. No notice is required.

You can withdraw money:

  • in branch;
  • by transfer to any other account based in the UK (online, by telephone or on the mobile app)
  • using your CashCard

If you make a withdrawal, you will not be able to deposit more money into your account if it means you will exceed the annual limit.

You can transfer your ISA (or part of it) to another ISA manager.

Please note there are daily limits on the amount that can be transferred from your account online, through telephone or mobile banking.

Information on the current daily limits is available on our website or by contacting Anytime Telephone Banking.

6. Additional Information

Definitions

Annual Equivalent Rate (AER) shows the interest rate if interest is paid and compounded once each year. AER helps you to compare the rates of interest on different accounts.

Compound interest is interest that is earned on interest that’s already been paid.

Gross means the interest rate you are paid on your savings with no compounding.

p.a. per annum (per year).

Tax-free.  We pay all savings interest without the deduction of tax.  You do not pay any UK tax on interest earned in ISAs. You may have to pay tax on interest earned in non-ISA accounts depending on your Personal Savings Allowance. The tax treatment may be subject to change in the future.

Information Message

Bring all your ISAs together to one place

You can transfer funds from an ISA with another provider by completing our Cash ISA transfer form, or if you bank online you can use the paperless transfer request, remember it can take up to 7 days to complete your ISA transfer request.

Information Message

Find out more Open in new window

How do I get additional support with my banking?

Banking My Way is a free service that allows you to record information about the support or adjustments you need to make banking easier. You can also let us know any additional support you may need to ensure all of our colleagues are aware of this. The information will be shared on our internal systems and therefore you will not need to repeat these requirements every time you interact with us.

Once your account is open, you can record this through Anytime Banking or with our colleagues in branches or over the phone.

Learn more about Banking My Way

Information Message

Financial Services Compensation Scheme

Your eligible deposits held by a UK establishment of Ulster Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered.

See FSCS Protecting Your Money (PDF, 3.7 MB) for more information about the scheme and how it protects your money.

Get ready to apply

Before you apply we need to check you're happy with a few things and ask you a few questions up front, then we can make your application as quick and simple as it can be.

First things first. You can apply if you:

  • are aged 18 or over
  • permanently live in the UK for tax purposes

Once your account is open we'll provide your statements within Anytime Banking

Important information

If you carry on applying, it means you're happy with what's in these documents, including the FSCS information sheet. And happy to view your statements in Anytime Banking - not posted. Please take some time to review, print and/or save the important information.

How your information might be used

It's important for you to understand how we use and share your information. Please read this short summary before you continue with your application.

As part of the checks that we will complete to verify your identity, we’ll take an image of your face so that it can be compared with your photo ID and this biometric data is captured.

All okay? You're nearly ready to start.

To speed up your application for our Cash ISA account, we need to do a few final checks with you. They'll only take a minute.

Continue
Do we already know you?
If you have a current account, credit card, loan or savings account with Ulster Bank please let us know.
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Do you have a passport or driving licence?
You can use a full or provisional UK driving licence. We also accept ID cards and driving licences from EU or EEA countries. If you don’t have any of these, you can still setup your account online but will need to visit a branch or post us your info to activate it.
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Great, let's get your application started.

Remember, to apply for a Cash ISA, you must: 

  • Have your National Insurance number. You’ll find it on your payslip, P60 or any letters from HMRC.
  • Be at least 18 years old and a permanent UK resident, or a Crown Servant serving overseas, their spouse or civil partner.
  • Have a phone number and email address we can contact you on
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Ok. Let’s get started

  • Tell us about yourself

We’ll ask you some questions to get your account set up.

  • Reserve your account

Once you’re done we’ll reserve your account and give you a reference number.

  • Visit a branch or post your ID to us

To activate your account you’ll either need to pop into a branch with your reference number and ID or send them to us by post.

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Do you have our Ulster Bank app on a mobile device?
If you're registered for our app on a mobile device, we can pre-fill some of your info, making the application process faster.
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Next

Great, let's get your application started.

Remember, to apply for a Cash ISA, you must: 

  • Have your National Insurance number. You’ll find it on your payslip, P60 or any letters from HMRC.
  • Be at least 18 years old and a permanent UK resident, or a Crown Servant serving overseas, their spouse or civil partner.
  • Have a phone number and email address we can contact you on.

Using a desktop or have the app on another device?

Simply scan the QR code with your mobile or tablet device that has the Ulster Bank app and we'll get you started.  

Can't scan the QR code?

Using your mobile or tablet device now?

If you're already using a device with the Ulster Bank app, select the 'Start your application' button below.

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Do you use Anytime Banking?
If you log in to Anytime Banking we can pre-fill some of the application for you.
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Log in to Anytime Banking

  1. Enter your customer number or 16-digit card number to get started. 
  2. You'll then need to enter your Anytime Banking pin and password.
  3. Once you're logged in, select 'Savings accounts' from the product list. 
  4. Finally, choose the account you want to apply for and complete your application.

Remember, to apply for a Cash ISA, you must: 

  • Have your National Insurance number. You’ll find it on your payslip, P60 or any letters from HMRC.
  • Be at least 18 years old and a permanent UK resident, or a Crown Servant serving overseas, their spouse or civil partner.
  • Have a phone number and email address we can contact you on.
Previous
Log in now

Let’s get you registered for Anytime Banking

You’ll need to sign up for Anytime Banking with us in order to apply for a savings account. The good news is that it normally takes only 5 minutes and all you’ll need is your sort code, account number and your Ulster Bank Debit Card, if you have one.

Once you’ve registered, select ‘Next’ to log in and apply for a Cash ISA account. 

Previous
Next

Log in to Anytime Banking

  1. Enter your customer number or 16-digit card number to get started. 
  2. You'll then need to enter your Anytime Banking pin and password.
  3. Once you're logged in, select 'Savings accounts' from the product list. 
  4. Finally, choose the account you want to apply for and complete your application.
Previous
Log in now