Account name

Easy Access ISA (Issue 22)

What is the interest rate?

AER/tax-free (variable) for the first 12 months from account opening

• We work out the interest we’ll pay on the account each day.
• We pay interest into the account once a year in March. 

Can Santander change the interest rate?

Yes, we can change the interest rate on this account as explained in the general terms.

What would the estimated balance be after 12 months based on a £1,000 deposit?

To work out the estimated balance, we’ve assumed that: 

• The account is opened and the initial payment into the account is made on the first day of the month.
• You don’t pay in any more money or take any out.
• There is no change to the interest rate.

These illustrations are only examples and don’t take into account individual circumstances.

How do I open and manage my account?

Eligibility 

You can have this cash ISA if you’re 18 or over and a UK resident. You can only open this account in your sole name – joint ISAs aren’t allowed. 

How to open the account 

You can apply for an account in branch, by mobile or online. 

Managing the account 

You can manage your account using Online or Mobile Banking, by branch or by telephone.

Paying money in 

You can only pay into one Santander cash ISA each tax year, but other providers may let you pay into more than one ISA of the same type within the same tax year. A tax year runs from 6 April in one year to 5 April the next. 

The UK government sets an ‘annual allowance’ which is the total you can pay into all of your ISAs each tax year.

The ISA allowance for the 2024/25 tax year is £20,000. Deposits can be made from 6 April 2024 up to and including 5 April 2025. 
 

• Minimum balance: £500. You can open the account with a zero balance if you are transferring in existing ISAs with a balance of at least £500. 
• Maximum balance: £2 million – but you can only pay in up to your ISA allowance each tax year. 

You can pay money in electronically or you can ask us to do a transfer for you from an existing ISA with another provider.
 
This product doesn’t accept additional permitted subscriptions

Can I withdraw money?

You can take money out of your account at any time using Online or Mobile Banking, by Branch or by telephone. If you want to make cash withdrawals by card, you can also ask us for a cash card. 

Or, you can link the account to a Santander cash card you already have. This will let you take money out at Santander and other cash machines.

This ISA isn’t flexible. That means if you take money out, it will lose its tax-free status. If it’s repaid into an ISA, it’ll count towards your ISA allowance for the current tax year. 

You can also transfer your cash ISA to another provider by contacting the new ISA provider. 

At the end of term

The term of this account is 12 months. At the end of the term, we’ll transfer your account to an ISA Saver. We’ll contact you with more details, together with your new interest rate, closer to the time. 

Additional information

Tell us if you change your mind

You can cancel your account at any time during your ‘cancellation period’ – we won’t charge you for it. This is 14 days, starting the day after we confirmed your account is open.

If you do this, we’ll return your money together with any interest we owe you. We’ll do this as soon as we can (and within 30 days from when you tell us). 

If you transferred money from another ISA provider and you cancel this account, that provider may not accept the return of the money. If that happens, you can keep the account open or transfer your money in full to another ISA provider. You’ll need to contact your new ISA provider to arrange the transfer.

You can also close your account at any other time outside this cancellation period – we won’t charge you. 

Tax status

An ISA allows you to earn interest on your savings without paying tax. That means any interest you receive won’t contribute towards your Personal Savings Allowance.

ISAs are subject to the Individual Savings Account Regulations 1998 and other government rules. 

If you don’t follow those rules, your ISA might become ‘void’ and you may need to pay tax on interest paid.

Statements 

We’ll send you a statement once a year in March.

The favourable tax treatment of ISAs may change in the future and is subject to individual circumstances. 

Subject to availability and may be withdrawn without notice. Rates and information correct as at 26 September 2024.

How we manage scam claims

We’ll support you if you’ve fallen victim to fraud. Find out more about our approach to fraud.

Transferring ISAs from other providers

You can transfer ISAs you have with other providers at any time. 

Before you transfer your ISA to us you’ll need to consider these points:

• You’ll first need to open a Santander ISA.
• We don't charge a transfer fee but other providers may.
• You can transfer some or all the money that you’ve paid into an ISA in previous tax years. If you want to transfer money that you’ve paid into an ISA in the current tax year, you’ll need to transfer all of it. From 6 April 2024, some providers may allow you to transfer some of your current tax year subscriptions. However, Santander only accepts transfers of current tax year subscriptions in full.
• If you transfer an ISA in full to us and have built up previous tax year flexible allowances with your current provider, you’ll lose that allowance when you move to Santander.
• If you want to use the flexible allowance you should re-deposit into your existing ISA before you transfer to us.
• Transferring money out of a Help to Buy: ISA will impact the bonus you may receive.

If you want to transfer your ISA to another provider

You can transfer all or part of your savings in an ISA to another provider. Check your ISA terms and conditions for any restrictions. You’ll need to contact your new provider to arrange the transfer on your behalf.
 

If your Child Trust Fund (CTF) is due to mature or has matured

You can transfer all or part of your maturing CTF, your matured CTF or Protected ISA to one of our cash ISAs. If your CTF is maturing, the transfer will only happen at the point of maturity, on your 18th birthday. You are allowed to transfer part of the money held in your account. Before doing that, you must tell your existing provider what you want to do with the rest of the money.

The ISA manager for Santander cash ISAs is Santander UK plc. For Santander stocks and shares ISAs the ISA manager is Santander ISA Managers Limited. This means that transfers between Santander cash ISAs and Santander stocks and shares ISAs should be treated as transfers between ISA providers.

ISAs with a roll number

For ISAs with a roll number, please use the cash ISA transfer form below to transfer them. Be sure to quote the roll number, account number, and sort code.

When quoting the roll number, please remove any special characters (e.g. – or / ). These will not be accepted on the form and your transfer will not be processed.

• Cash ISA transfer form
• Stocks and Shares ISA transfer form (PDF - 75 KB)
• Innovative Finance ISA transfer form (PDF - 77 KB)
• Lifetime ISA transfer form (PDF - 71 KB)
• Matured Child Trust Fund and Protected ISA transfer form (PDF - 76 KB)

Transferring other Santander cash ISAs

You can combine all of your Santander cash ISA balances into one cash ISA. 

To combine your cash ISAs, please use the Santander Cash ISA transfer form below. 

Santander Cash ISA transfer form (PDF - 78 KB)

Withdrawals

To keep your money tax-free when transferring between ISAs, you must arrange it as an ISA transfer. If you withdraw money from your ISA it will lose its tax-free status and if you pay it back into an ISA, this will count towards your annual allowance for the current tax year.

Everything you need to know before you apply

We recommend reading the information in the documents below before you apply. You may like to save or print them so you can refer to them in the future.

• Easy Access ISA Key Facts Document
• General Terms & Conditions (PDF - 289 KB)

 To view these documents, you may need to download Adobe Reader

Subscribing to your existing ISA

If you haven't made a deposit into your cash ISA for a whole tax year, you must complete an ISA declaration. You must do this before you can make any more subscriptions. To do this, log into Online Banking, click the chat button and type ‘Fund my ISA’ into the chat or contact us.