ISA Accounts
Frequently asked questions
How do I apply for an account?
Once you have decided which account you would like to open, simply click on the ‘Apply’ button in the Summary Box window for that account and complete the application form online. You can also follow this link to head directly to the application form.
What is an ISA?
An ISA (Individual Savings Account) is a savings account where the interest payments are tax free. This means your money could grow faster than in an account paying the same rate of interest which doesn’t have the same tax benefits. Interest from ISAs does not count towards your Personal Savings Allowance.
You can only subscribe to one cash ISA in each tax year (6 April to 5 April).
What are the ISA allowances?
The Government sets the maximum amount that can be saved in an ISA in any tax year – you can find details of this year’s ISA allowance on the HMRC website. The annual allowance can be split across a Cash ISA, Stocks and Shares ISA, Innovative Finance ISA and Lifetime ISA, if you wish. The minimum balance for an ISA with United Trust Bank is £5,000.
What type of ISA do you offer?
Our ISA products are similar to our standard Fixed Term Bonds in that you can choose a term that has a fixed interest rate for a fixed period of time.
Do you accept Additional Permitted Subscriptions (APS)?
No, we do not accept Additional Permitted Subscriptions (APS).
What is the maximum I can invest in an ISA?
The Government sets the maximum amount that can be saved in an ISA in any tax year – you can find details of this year’s ISA allowance on the HMRC website. The annual allowance can be split across a Cash ISA, Stocks and Shares ISA, Innovative Finance ISA and Lifetime ISA, if you wish.
Do you accept cash & stocks and shares ISA transfers?
We only accept Cash ISA transfers from existing providers, not Stocks and Shares ISA transfers.
However, if you have a Stocks and Shares ISA that you have converted into cash, we can accept the transfer.
Can I transfer multiple ISAs to you?
Yes, you can. You will need to complete the online application form and enter the details of each provider separately.
Can I transfer part of my ISA to you?
Yes, we can accept partial ISA transfers, provided they are from a previous tax year. If you are transferring funds from the current tax year, you must transfer the full balance.
I want to transfer an ISA to United Trust Bank. Do I need to contact my existing ISA provider?
No. You only have to apply with us. When we receive your transfer request, we will contact your current ISA provider to arrange for the funds to be sent to us.
How long will the transfer of my ISA take?
ISA transfers can take up to 15 working days, but it’s usually done sooner.
Can I transfer my ISA to another provider?
If you wish to transfer your United Trust Bank ISA to another provider, please contact them to arrange the transfer. They will get in touch with us with details of the request.
Please note, if you transfer your ISA before your account reaches maturity, you may be subject to an early withdrawal charge.