Flexi Cash ISA
Our Flexi Cash ISA is a flexible Cash ISA where you have immediate access to your money without charge.
Any withdrawals you make in the current tax year can be replaced without the replacement money counting towards your annual subscription limit.
The replacement money has to be paid back into your ISA in the same tax year it is withdrawn or you will lose the ability to replace it. Interest is earned tax free*.
Anyone aged 16 years or over is eligible to apply for a Cash ISA, must be resident or ordinarily resident in the United Kingdom and hold a National Insurance number (If you do not know it, you should be able to find your NI number on a payslip, form P45 or P60, a letter from the HM Revenue & Customs, a letter from the DWP, or pension order book). If you do not have a National Insurance number please call us to discuss.
Tax Year End 2019/2020
Please note that due to the current tax year ending on non-banking days over a weekend, online deposits and applications for the 2019/2020 tax year will need to be received and completed before 5:00pm on Friday 3rd April 2020.
Applications and deposits in branch can be made during normal business hours on Friday 3rd April 2020. Any cheques posted must also be received by this date.
Telephone applications will not be accepted after Tuesday 31st March 2020 to allow time for documentation to be completed by Friday 3rd April 2020.
Transactions processed via any channel on Saturday 4th and Sunday 5th April 2020 will be processed to the ISA on the next business day, Monday 6th April 2020. As this is the next tax year the deposits will be classed as a subscription to your 2020/2021 ISA Allowance.
- The overall ISA limit for 2019/2020 is £20,000, with the option of saving part or full allowance in cash. You can put money into one cash ISA, one lifetime ISA, one stocks and shares ISA, and one innovative finance ISA each tax year. You can save up to £20,000 in one type of account or split the allowance across two or three types.
- The more you save, the higher the interest rate you could earn, with our tiered rates.
Your money is not tied up and you can take your money out of a Flexi Cash ISA at any time without losing any tax benefits.
Where a withdrawal takes place before the cut-off time on any business day, adjustment of your remaining ISA allowance will not be made until the following business day.
Where a withdrawal takes place after the cut-off time on any business day or at any time on a day which is not a business day, adjustment of your remaining ISA allowance will take place two business days later.
You can ask for the cut-off times which apply to your payments at your nearest branch or by calling 0800 587 5000.
- You can transfer any existing cash ISAs from other providers
- Flexible saving - from a minimum of £10, you can save with regular payments, one-off deposits, or both (up to your annual limit of £20,000).
- Annual interest is paid directly into your account. See Cash ISA tariff
- You can carry out transactions online, by phone, at your local branch, or by post.
||Flexi Cash ISA Account
|What is the interest rate?
||Rates quoted applies to both Gross* & AER+ pa
|£40,000 and over
|£1 - £39,999
Interest is calculated on a daily basis and is paid annually on 31st December or the first business day thereafter. The rate of interest on this account is tiered. You will earn one rate based on your account balance.
|Can Yorkshire Bank change the interest rate?
||Yes, if we decrease your rate we will provide at least 2 months’ notice as described in Section 8. 2 of the Terms and Conditions. We may increase your rate without giving you notice.
|What would the estimated balance be after 12 months based on a range of deposits?
|Initial deposit at account opening
||Balance after 12 months
This is only an example and does not take into account your individual circumstances.
The examples assume that:
- no further deposits or withdrawals are made;
- any interest earned stays in the account; and
- there is no change to interest rates and tiers.
|How do I open and manage my account?
The account can be opened in branch or online, www.ybonline.co.uk or call us on 0800 587 5000. You must be aged 16 or over.
Minimum deposit required to open and maintain this account is £10. The overall ISA limit for 2019/2020 is £20,000.
|Can I withdraw money?
Your money is not tied up and you can take your money out of a Flexi Cash ISA at any time without losing any tax benefits. You can carry out transactions online, by phone, at your local branch and by post. No notice is required to withdraw.
Any subscriptions you make in the current tax year can be withdrawn and replaced without the replacement money counting towards your annual subscription limit.
The replacement money has to be paid back into your ISA in the same tax year it is withdrawn or you will lose the ability to replace it.
Tax free - interest is paid gross.
Gross rate interest is the interest payable without taking account of any tax payable.
AER (Annual Equivalent Rate). The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.