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Cash ISA
Cash ISA offering a rate from 1.75% AER/Tax-free p.a. (variable)
Interest is calculated daily and paid tax free into your account on the last business day of October
No withdrawal penalties
Instant access to your money 24/7
There is a maximum deposit of £20,000 into a cash ISA for the current tax year
Easy to manage via this app, Anytime Banking, branch and phone
To top up your existing Ulster Bank Cash ISA, click the 'X' above. Tap 'Home' and choose 'Transfer' from another Ulster account
Balance
£1 - £24,999
£25,000+
AER/Tax-free p.a. (variable)
1.75%
3.20%
|
- Interest is calculated daily and paid annually on the first business day in January and at account closure
2. Can Ulster Bank change the interest rate?
Yes, these rates are variable.
They may be changed for any of the reasons set out in Term 11.1 of Personal Banking - terms and conditions, Your savings account terms e.g. to take account of Bank of England base rate changes or changes in the rates paid by other banks. 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. Term 11.1 contains details of the notice we’ll give you.
Initial deposit at account opening
£1,000.00
£25,000.00
Balance (including interest) after 12 months
£1,017.50
£25,800.00
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 the interest rates or tiers;
And any interest earned stays in the account.
4. How do I open and manage an account?
Eligibility
Cash ISAs are open to customers aged 18+. You must be a resident of the UK for tax purposes.
You can apply for a Ulster Bank current account at the same time as your cash ISA application if you don't already have one.
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.
We will also need your email address and mobile number to open your account and send you important account opening documents.
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
The interest payable is tax-free. The tax treatment may be subject to change in the future and depends on your individual circumstances.
Annual Equivalent Rate (AER)
This is a notional rate used for interest bearing accounts, which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.
Gross Rate
The interest rate you are paid without the deduction of income tax.
p.a. Per annum (per year).
Tax-free:
Interest which is exempt from UK income tax.
Have your statements at your fingertips
We'll send you an email when your statements are ready to view in online banking. You can check it whenever you want.
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.
How do we use your information
We sometimes need to use your information to help us both.
Why do you share it?
We share your information so we can:
∙ protect you
∙ check your identity
∙ Make sure you have the right products for your needs
∙ prevent fraud and money laundering
∙ help us comply with laws, manage our risk and protect our business
Who do you share it with?
We share your information with:
∙ other companies in our group
∙ fraud prevention agencies, and we also record any identified or suspected fraud, which could mean we refuse to provide you with services
∙ our business partners, like the company that makes our debit and credit cards
∙ industry regulators, government departments and similar organisations, like HM Revenue and Customs, who might in turn have to share it with other countries
We also share your information with credit reference agencies, so we can:
∙ do a credit check – this can affect your credit score (we don’t do one if you’re just opening a savings account)
∙ do an identity check – this could be done on you and anyone else who’s linked to the account, but it doesn’t affect your credit score
∙ protect you and comply with laws – we must share information about how you manage your account, like payments made in, your balance, credit limits and any missed loan payments. They may also share this with other organisations.
Credit reference and fraud prevention agencies use your information because they have to prevent fraud and money laundering, to protect you, their business and to comply with laws.
What can happen?
We’ll make decisions based on the automated checks of data we hold and receive about you. You have rights in relation to these decisions, including a right to appeal if your application is declined. If it’s declined, we’ll usually keep your information for 5 years or longer if needed to comply with the law.
If you want more details about how we use your information or your rights, please read our full Privacy Notice
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.
If you’d prefer to progress without sharing biometric data, you'll need to apply for the account by calling our specialist team. This means you may wait a little longer to get your account open. You can call us on 0800 158 8784 Relay UK: 18001 0800 158 8784 - Monday-Friday 8am-8pm, Saturday 9am-3pm, Sunday closed. Excluding public holidays
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 guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.
Find out more about the scheme and how it protects your money
Important Documents
Please read before you apply
A guide to personal accounts fees & interest brochure
Personal Banking – terms and conditions, Your Savings Account Terms brochure
Financial Services Compensation Scheme - Information Sheet and Exclusions list
When your account is open we'll provide your statements within online banking.
Not the right account for you? To view our full range of savings accounts visit ulsterbank.co.uk/savings
Please ensure that you have read and downloaded a copy of the above documents including the FSCS Information Sheet and Exclusions List and accept that upon completing this application, you will become bound by the terms contained in those documents.