Cash ISA - Only available for existing customers

Key features:

  • Competitive tax-free interest rate
  • Open an account online with just £10
  • Invest up to £20,000 this tax year (2019/2020)
  • Easy access to your money, with no penalties or loss of interest

Financial Services Compensation Scheme

Your eligible deposits with Wesleyan Bank Limited 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.

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Make the most of your tax-free allowance

Whether you're saving for a car, a house or just a rainy day, an easy-to-manage Cash ISA from Wesleyan Bank will help you grow your income with competitive interest rates and no tax to pay on interest earned. We make it quick and easy to start enjoying the benefits of tax-free savings. Open your account online with just a £10 deposit and keep paying in so long as you stay within the annual ISA allowance limits (currently £20,000 this 2019/2020 tax year). You can access your savings whenever you like with no penalty - you don't even need to give us any notice.

The Wesleyan Bank Cash ISA at a glance

  • How much? - For the 2019/20 tax year, the annual ISA allowance is £20,000. You can invest in a Cash ISA, a Stocks and Shares ISA, an Innovative Finance ISA or a Lifetime ISA or a combination of all four in the same tax year - subject to maximum annual limits set by HM Revenue & Customers (£20,000 overall, of which up to £4,000 can be saved in a Lifetime ISA in the 2019/20 tax year).
  • Paying in - pay in any time by cheque, bank giro credit, bank transfer or direct debit.
  • Withdrawals - there's no limit to how much you can withdraw, and you don't need to give us any notice before you take money out. Once you have reached your limit for the tax year, you cannot pay more into the account, even if withdrawals have reduced your balance below your annual limit, in the same tax year.  
  • Access - manage your account by phone, internet and post.
  • Transfers from existing Cash ISAs - you can transfer an existing ISA to the Wesleyan Bank Cash ISA.

Current Interest Rates information

Ready to start saving?

Apply online today and open your new Cash ISA with just £10. Alternatively, call us on 0800 358 11 22 to find out more, or fill in our contact form and we'll call you back.

Further information

What is an ISA?

  • An ISA is a type of savings account with tax advantages. HM Revenue & Customs (HMRC) set how much you can invest each tax year (the tax year runs from 6 April one year to 5 April the following year).
  • You don't pay income tax on any income made from an ISA.
  • You don't pay capital gains tax on any money made from an ISA.
  • You can invest in a Stocks and Shares ISA, a Cash ISA, an Innovative Finance ISA, a Lifetime ISA, or a combination of all four in a single tax year.
  • You can choose one ISA Manager for your Stocks and Shares ISA, one for your Cash ISA, one for your Innovative Finance ISA and for your Lifetime ISA.

Who can open an ISA?

You can open a Cash ISA if you are aged 16 or over and you are:

  • a UK resident for tax purposes (ask your local tax office if you're not sure);
  • a crown employee (such as a diplomat or a member of the armed forces), working overseas and paid by the Government; or
  • the husband, wife or registered civil partner of a crown employee working overseas.
With Profits ISA

With Profits ISA

The With Profits ISA is a Stocks and Shares ISA, giving you access to our With Profits Fund with no tax to pay on the returns.
Call our team free on 0800 358 1122 Monday to Friday 8.00am - 6.00pm, or contact Wesleyan Bank

'WESLEYAN’ is a trading name of the Wesleyan Group of companies.

Wesleyan Assurance Society and Wesleyan Bank Ltd are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Wesleyan Financial Services Ltd, Wesleyan Unit Trust Managers Ltd, Practice Plan Ltd and DPAS Ltd are authorised and regulated by the Financial Conduct Authority.  Advice about investments, insurance and mortgages is provided by Wesleyan Financial Services Ltd.

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