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Cash ISA - Barclays Cash ISA

  • A cash ISA 2 (Individual Savings Account) that earns you tax-free interest
  • Earn 0.10% AER/ 0.10% tax-free pa1 variable
  • Interest calculated daily and paid annually
  • Instant access to your money when you need it. But you can only invest a maximum of £5,100 in the 2010/11 tax year 5, regardless of any withdrawals made
  • Manage your cash ISA online, by phone or in branch
  • Easy to open from as little as £1

Your ISA limit will increase to £10,680 from 6 April 2011, of which, up to the first £5,340 can be saved in a cash ISA account from one provider.

Key product information for our savings accounts - Barclays Cash ISA

Account name Barclays Cash ISA
Interest rates (AERs) Barclays Cash ISA
Tax status Tax free: Interest is exempt from UK income tax provided all ISA conditions are met.
Conditions for bonus payment N/A
Withdrawal arrangements Instant access without loss of interest.
Access In branch. Additionally if you are a Barclays current account holder you can access your account by phone or online.

Read our brochure for the full details of our Barclays Cash ISA. You can print it or save it to your computer 3

ISA Key Facts brochure 1.74 MB

 

Barclays Cash ISA

Additional ISA Terms and Conditions – March 2010

These additional conditions relate to Barclays Cash ISA and Golden ISA – Issue 2, which supplement and amend the general conditions of your Customer Agreement with us (Barclays Bank PLC), and should be read in conjunction with the declaration you made when opening your account. In the event of any inconsistency between these additional conditions and the general conditions of the Customer Agreement, these terms will apply in relation to your cash ISA.

Definition
1.1 Barclays Cash ISA and Golden ISA - Issue 2 are cash ISAs
 

Availability
2.1 To have this account you must be at least 16 and resident or ordinarily resident in the UK for tax purposes. Accounts must be held in your sole name only.
2.2 The ISA investments will be, and must remain in, the beneficial ownership of the investor and must not be used as security for a loan.
2.3 In accordance with HM Revenue & Customs ISA Regulations, you are not eligible to apply if you have already subscribed to a cash ISA, or have already subscribed the maximum allowance to a stocks and shares ISA, either with us or another ISA manager, in the same tax year as you are applying for this ISA account. These restrictions do not apply if you are transferring an existing cash ISA to us from another ISA manager in circumstances where this is permitted under the ISA regulations.

Cash ISA Terms
Payments into and out of the account
3.1 You must make an initial deposit of at least £1 (with the exception of transfers-in) when you open the account after which you can make deposits at any time.
3.2 The maximum amount you can subscribe is the maximum cash ISA limit per tax year as prescribed in the HM Revenue & Customs ISA Regulations irrespective of any withdrawals made. Any deposit counts towards your maximum subscription limit for the relevant tax year even if you subsequently make a withdrawal.
3.3 If you make deposits into your ISA account more than the amount prescribed in the ISA Regulations the excess will be returned to you.
3.4 Payments out of the account are allowed at any time with no notice.

Transfers-in
4.1 For Barclays Cash ISA only, in addition to the annual ISA subscription limits, you may also transfer the funds held in an existing cash ISA either with us or another ISA manager into your ISA account.
4.2 When opening a cash ISA with the intention of transferring another cash ISA into it no initial deposit is required.

Interest
5.1 Interest can only be paid into the account.
5.2 Current interest rates and tiers are set out in our interest rate leaflet and on our website.
5.3 Interest is payable without the deduction of tax as long as you comply with the relevant ISA Regulations. The value of tax relief depends on individual circumstances.

Closure of your account
6.1 You can close your ISA at any time without notice by providing written instructions signed by you. If you have subscribed to your ISA during a tax year and then close the account, you will not be able to re-open the account or subscribe to another cash ISA either with us or any other ISA manager in the same tax year.
6.2 If you wish to close your ISA account and notify us within 14 days of the opening day of the account or within 14 days of the day you receive these Terms and Conditions, whichever is the later, the agreement between us will be cancelled. The balance on your account and any gross interest earned will be repaid to you. Subject to HM Revenue & Customs conditions, you will still be able to open an ISA and your full annual subscription limits will remain.
6.3 We may close your account by immediate written notice to you if we are directed to close it by HM Revenue & Customs.
6.4 We may close your account by immediate written notice in the circumstances set out in condition 9.4 if the failure cannot be corrected or if you fail to take any action requested by us in writing within a reasonable period.

Transfer of your ISA to another ISA Manager
7.1 To transfer your ISA (or part of the balance on your ISA account) to another ISA manager you must give written instructions to your new ISA manager who will forward your request on to us. These instructions must: (a) be in writing; (b) be signed by you; and (c) state when you want the transfer to occur.
7.2 On receipt of your instructions we will transfer your account in accordance with your instructions subject to any reasonable period up to 30 days to enable the practical implementation of your instructions.

Death
8.1 ISA tax exemptions will no longer apply if you die during the term of your ISA. Interest will be paid without the deduction of tax only up until the date of death. When we receive notification of your death we will close your ISA and transfer the balance to a Barclays instant access savings account available at that time which we will open in your name. We will pay any amount held in that account to your legal personal representatives when we receive the necessary legal confirmations. When we close the instant access account the interest paid to the account will reflect the interest rates payable on your ISA.

General
9.1 You may not transfer the ownership of your ISA account to anyone else or use your ISA account as security for any borrowing.
9.2 If you fail to subscribe to your ISA account in any tax year, under ISA Regulations you will be required to make a new ISA declaration should you wish to continue to make further contributions.
9.3 We will only delegate our duties under the terms of this agreement to another account manager or a third party acting as our agent if we are satisfied that they are competent to carry out those duties.
9.4 We will notify you if, for any reason, your ISA account has or will become void because of a failure to satisfy the ISA Regulations.

 

Your Feedback
We want to hear from you if you feel unhappy with the service you have received from us. Letting us know your concerns gives us the opportunity to put matters right for you and improve our service to all our customers. You can complain in person at your branch, in writing, by email or by telephone. A leaflet detailing how we deal with complaints is available on request in any of our branches, from the Barclays Information Line on 0800 400 100 6 or at www.barclays.co.uk Alternatively you can write to Barclays, Leicester LE87 2BB.

If we do not resolve your complaint internally to your satisfaction, you may be able to refer it to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR (Tel: 08000 234 567 6 ). The Financial Ombudsman Service is an organisation set up by law to give consumers a free and independent service for resolving disputes with financial firms. Details of those who are eligible complainants can be obtained from the Financial Ombudsman Service.

This could suit you if:

  • You have existing cash ISAs to transfer
  • You haven't used your ISA allowance for this tax year

See our alternative accounts if:

  • You want an ISA that invests in stocks and shares

Alternative accounts

Loyalty Reward ISA - Make the most of your current tax year allowance if you don't want to transfer funds from an existing ISA

Investment ISAs - Provides potential for growth over five years and repays your capital at maturity


Important information
1. Tax-free: Indicates that interest is exempt from UK income and capital gains tax provided all ISA conditions are met. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
2. Applicants must be 16 years old and over, and resident and ordinarily resident in the UK for tax purposes. You must not have subscribed to another cash ISA or used your total annual ISA allowance in a stocks and shares ISA during the same tax year. Annual ISA subscription limits are subject to review. The Government's favourable tax treatment of ISAs may not be maintained
3. To view Adobe® Acrobat® (PDF) files you will need Adobe® Acrobat®, available from Adobe Systems Incorporated. Adobe® and Acrobat® are the registered trade marks of Adobe Systems Incorporated in the United States and/or other countries. For more information on accessibility please see the Adobe Accessibility site. Barclays is not responsible for the accuracy or content of web sites of other providers that may have links from this website. In creating hypertext links to any other web site, Barclays is not recommending that web site or giving any assurances as to its standing.
4. To maintain a quality service, we may monitor or record phone calls. Call charges
5. Your annual ISA allowance is £10,200 in the 2010/11 tax year. Of this, up to the first £5,100 can be saved in a cash ISA with one provider. All of your allowance or the remainder can be saved in a stocks and shares ISA. The value of tax relief depends on individual circumstances. Annual limits are subject to review. The Government's favourable tax treatment of ISAs may not be maintained.
6. To maintain a quality service, we may monitor and record phone calls. Calls to 0800 numbers are free when calling from a UK landline. Charges may apply when using a mobile phone or when calling from abroad. Call charges

Barclays Bank PLC. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 122702). Barclays Bank PLC subscribes to the Lending Code which is monitored and enforced by the Lending Standards Board. Further details can be found at www.lendingstandardsboard.org.uk. Barclays Insurance Services Company Limited is authorised and regulated by the Financial Conduct Authority (Financial Services Register number: 312078).

Barclays Bank PLC. Registered in England. Registered no. 1026167. Barclays Insurance Services Company Limited. Registered in England. Registered no. 973765. Registered office for both: 1 Churchill Place, London E14 5HP. ‘The Woolwich’ and ‘Woolwich’ are trademarks and trading names of Barclays Bank PLC. Barclays Business is a trading name of Barclays Bank PLC.


 

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