About this product
The Moneybox Cash ISA opens with £500 or an ISA transfer. The higher variable rate requires a balance of at least £500 and fewer than four withdrawals in each account year. A fourth withdrawal reduces the rate for the rest of that year; a balance below £500 also reduces the rate. Introductory bonuses expire after 12 months. This ISA is not flexible: withdrawals do not restore the annual ISA subscription allowance. Moneybox’s separate Open Access Cash ISA has different withdrawal conditions.
Advantages
- No account fees
- App-based saving and ISA transfers
Things to consider
- Fourth withdrawal in an account year reduces the rate until the next account anniversary
- Balance below £500 earns a lower rate
- Not a flexible ISA; withdrawals do not restore subscription allowance
- Introductory bonus expires after 12 months
Regulation and protection
Check the provider banking licence and current FSCS eligibility before depositing money.