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Changes to your savings accounts

Changes to Cash ISAs

We’ve made changes to some of our accounts this year.

Here’s what you need to know if your account has changed.

What’s changed?

To make our savings options simpler, we’ve changed some of our accounts to either an Everyday Saver account or an Instant Cash ISA Issue 1 .

If you had a Direct Access Issue 2 account, a Direct Access Plus Issue 2 account or an e-savings Reward account, your account has changed to an Everyday Saver account.

You can continue to access your money whenever you want, however the interest you earn on your money will be lower.

If you had a Direct Cash ISA Issue 2 , your account has changed to an Instant Cash ISA Issue 1 . You can continue to access your money in the same way.

While the type of account you have has changed, your sort code and account number have stayed the same.

Regular payments into or out of your account continue as usual and you can continue to access your account as normal, including via online and mobile banking or over the phone.

If you have an offset arrangement between your savings account and Offset Mortgage, this will also stay in place.

Any payments you make using the Faster Payments or BACS services stay free of charge, however, CHAPS payments from an Everyday Saver or Instant Cash ISA Issue 1 account do cost £25 each.

The number of accounts you have has stayed the same, however if you already have more than one Instant Cash ISA Issue 1 account, it may be worth consolidating your savings into one account.

This is because the Instant Cash ISA Issue 1 has tiered interest rates – which means that the more you save, the better the interest rate you’ll earn on your money.

If you’d like to consolidate your ISA accounts, please remember to use the ISA Transfer-in service – that way, you’ll keep the tax-free status of your ISA savings. See our Guide to transferring your ISA for more details.