Open a Cash ISA

How to get started

1. Open an account. Filling in the application takes about 10 minutes. You may need your National Insurance Number.
2. Choose your savings products. Choose from great rates with terms to suit you and your financial goals.
3. Add money. You don’t need any money when you first open your account. But if you want to start saving straight away, you can start from as little as £1 using your debit card or add cash from your Active Savings Account cash hub.

Eligibilty

To open an account, you must:

• be opening an account for an individual
• be 18 years old or over
• live in the UK
• be a UK resident for tax purposes

If you’re unsure about the above please contact us for more information.

Before you start

Things to remember:

• All money coming in and going out of your Cash ISA goes through the Cash ISA transaction account, currently held with Barclays. It’s covered under their banking licences until it’s cleared. You won’t earn any interest on money held in the Cash ISA transaction account.
• Your Cash ISA will be opened once you instruct us to add money to a savings product.
• Any money withdrawn from the Cash ISA will lose its ISA status, and this can’t be put back into the ISA without using up a further portion of your ISA allowance (if available, for that tax year).
• Tax rules for ISAs can change, and their benefits depend on your circumstances.
• If the rate of interest you receive on your savings is lower than the rate of inflation, the future spending power of your money will be reduced.
• The HL Cash ISA is for people making their own financial decisions and isn’t personal advice. If you’re not sure what’s right for your needs, take advice.

You should:

• check you understand the current tax rules on ISA allowances.
• understand that this is an online-only account with a dedicated helpdesk if you need support.

Protecting your money

• When your money is in a savings product, the FSCS will protect up to £85,000 of your eligible deposits per banking licence. Read more about protection of your money.
• Any money in the Cash ISA transaction account is held in a separate account with Barclays Bank plc. It’s either protected through the FCA’s safeguarding rules if Hargreaves Lansdown Savings Ltd were to fail, or the Financial Services Compensation Scheme (FSCS) if Barclays were to fail.
• If you’re inactive in your account for 5 minutes, you’ll be logged out.
• Log in with two-factor authentication to keep your cash secure.

Documents to read

When you open an HL Cash ISA, it means you agree to our terms.

Make sure you read and understand the documents below. If you’re unsure of anything, contact us so we can support you.

• Cash ISA declaration
• Terms and Conditions (PDF)
• Key Features (PDF)