Online ISA

  • Choose multiple variable and fixed rates
  • Consolidate ISAs into one place with transfers in
  • Online access always on, all of the time

Online ISA is provided by OneFamily. Savings in Post Office Money® cash ISAs are deposited with Bank of Ireland UK.

Online ISA Rates

Easy Access Issue 6
1.10%tax-free/AER variable for the first 12 months. After 12 months this reverts to 0.65% tax-free/AER variable.

Fixed Rate Issue 6

1 year at 1.15%
tax-free/AER fixed

2 years at 1.20%
tax-free/AER fixed

Is this right for you?

Our Online ISA may be right for you if you want:

  • A savings account that earns tax-free interest.
  • To transfer in savings from existing ISAs. Before making a decision to transfer your ISA to us, you should check if your current provider will charge a fee.
  • The ability to split your cash ISA savings across variable and fixed rate products in one place.
     

Our Online ISA may not be right for you if you:

  • Want to save more than your annual ISA allowance
  • Don’t want to manage your ISA online
  • Are under 16
     

Not the right account for you? See our other ways of saving.

Online ISA Interest rates

Easy Access Issue 6
Benefit from a 1.10% tax-free/AER variable rate which includes a 0.45% tax-free/AER fixed bonus for the first 12 months.

Interest is calculated daily and paid annually in March.

Fixed Rate Issue 6You pick the term you'd like to save for. Choose from:

1 year at 1.15% tax-free/AER fixed
2 years at 1.20% tax-free/AER fixed

Interest is calculated daily and paid annually on the anniversary of the account opening. At the end of the fixed term the value along with any interest earned, will be paid into the Holding Account of your Online ISA.

Please note: no additional deposits or withdrawals are permitted during the fixed term. If you need to close your product during the fixed term, a Breakage Charge will be applied, unless it is within the first 14 days of opening. If the interest you’ve earned doesn’t cover this, you may get back less than you put in.

Holding AccountBenefit from a 0.65% tax-free/AER variable rate.

Interest is calculated daily and paid annually in March.

Please note: The tax advantages of ISAs depend on your individual circumstances and the tax treatment of ISAs may change in the future.

For help with key terms, please see the Definitions tab.

How it works

Our Online ISA gives you the ability to take advantage of fixed rates and variable rates all within one account. Save from £500 up to £15,240 in this tax year, subject to any stocks and shares or innovative finance ISA contributions, or transfer an existing ISA you hold – no maximum limit. Before making a decision to transfer your ISA to us, you should check if your current provider will charge a fee.

Putting your investment in fixed rate products will often give you a higher rate of interest, but means you could limit your ability to move money around.

The variable rate products give you ready access to your money. You can make additional deposits, have unlimited withdrawals or move money around into other products within your Online ISA.

There’s also a holding account that is designed to take care of your money until you decide whether you’d like to put it into fixed or variable. The Holding Account can also be used to bring together all your cash ISA savings from other providers, please see Key Information pack or FAQs for more information.

You can spread your annual allowance across as many products as you need to meet individual savings goals, and request unlimited transfers-in from other providers.

Please note, the products or rates of interest can be changed or withdrawn at any time. If you are using the Holding Account to consolidate or split your cash ISA savings before opening a specific product, there is a risk that the product or rate of interest you wanted will no longer be available by the time any funds are received.

Withdrawals can be made to either the Holding Account, where the funds can then be reinvested into other products within your Online ISA, or your Nominated Account.  Any payment sent to your Nominated Account will no longer benefit from the tax advantages of ISAs.

The minimum amount you can withdraw from any product is £10, or the value of that product, whichever is less.

If you have paid into your Online ISA in the same tax year you close it, you won’t be able to pay money into another cash ISA in that tax year.

Cancellation

If you change your mind, you have 14 days from the date your Online ISA opens to cancel your account. If you decide to cancel your Online ISA, any products you’ve opened within it will be closed and you will receive a full refund of any deposits you’ve made plus tax-free interest. Any returned deposits will not be regarded as having been paid into the ISA, and so will not count towards your ISA allowance for the current tax year.

You cannot ‘cancel’ individual products that you’ve selected to open within your Online ISA. This means that unless you cancel your entire Online ISA within the 14-day cancellation period, any deposits you’ve made into your product(s) will count towards your annual ISA allowance.

Partial transfers are not permitted, and you will not be able to transfer out individual products held within your Online ISA. 

If you decide to transfer your Online ISA and you have a product which is within a fixed term, you'll incur a Breakage Charge. If the interest you've earned doesn't cover this, you'll get back less than you put in.

Before you apply

Please make sure you're eligible by checking the below information:

  • You’re a UK resident for tax purposes and aged 16 or over
  • You have a UK personal bank or building society account in your name (either sole or joint)
  • You can deposit at least £100 (Easy Access product or Holding Account) or £500 (Fixed Rate product)
  • You’ve got a valid email address. This is how we’ll send you information about your account
  • You don’t already hold an Online ISA with us

 

What you need to apply

  • Your home address including postcode (we don’t accept c/o or PO box addresses)
  • Your National Insurance Number
  • Your bank or building society account number and sort code
  • Your debit card, if you want to open your Online ISA using this method
  • Details of your existing ISA, if you want to transfer this to us, to open your Online ISA


Once you’ve completed your application

You’ll receive an email asking you to confirm your email address – it’s important to do this in order to get unrestricted access to your Online ISA and to receive email reminders when you have new messages from us.

Once your application has been processed, we’ll send you another email asking you to log in to your Online ISA. Please note it can take up to 24 hours before your account is ready to access.

Summary Box

Summary Box 

Key Product Information for the Online ISA

Account name Online ISA
Interest rates
(AERs)
The Online ISA allows you to split your cash ISA savings into a selection of variable and fixed rate products, all held within your online account.
Each product will have a Product Factsheet, which details the interest rate you will receive and when interest will be paid.
Current interest rates can be found online or in the relevant Product Factsheets.
Tax status Tax-free
Conditions for bonus payments N/A (for further information about interest, please refer to the individual Product Factsheets).
Withdrawal arrangements

The minimum amount you can withdraw from any product is £10, or the value of that product, whichever is less.

Some products have restrictions on the number of withdrawals you can make during each tax year or have a Breakage Charge associated with closing the product during a fixed term. The Product Factsheet will contain information on any restrictions that you need to be aware of.

Withdrawals can be made to either the Holding Account, where the funds can then be reinvested into other products within your Online ISA, or to the bank or building society account you have previously nominated (i.e. your Nominated Account).

Any payment you request to have paid to your Nominated Account will no longer benefit from the tax advantages of ISAs.

This ISA does not have flexible features. This means that once withdrawn, your money will lose the tax advantages of ISAs and cannot be replaced within this ISA without affecting your annual ISA allowance.

If you have paid into your Online ISA in the same tax year you close it, you won’t be able to pay money into another cash ISA in that tax year.

Access

Access: 
The Online ISA can only be accessed and managed online. Once you access your account, you’ll be able to request to open additional products (when available), move money between existing products (providing this is an option within the Product Factsheets) and request withdrawals. You’ll be able to contact us by sending us a ‘secure message’. Secure messages are available to send and view by accessing your account online.

Account details: You can obtain a value and any other details about your Online ISA, including information about the products you hold within it, by accessing your account online. 

Making payments: 
To make an additional payment into your Online ISA once it is open you will need to access your account online and select an available product to pay into. Payments can then be made by:

  • debit card payment online; or,
  • sending us a cheque; or,
  • requesting to transfer funds from an existing ISA you hold; or,
  • moving money from a product already held within your Online ISA (providing this is allowed in the Product Factsheet).
     

Please note, before making any decision to transfer to us, you should check if your current provider will charge a fee.

Withdrawing money:
You can request a withdrawal or to close a product by accessing your account online. You can either select the product you’d like to make the withdrawal or closure from on your ‘ISA Summary’ screen or you can select the ‘Withdrawals and closures’ area of your account.

Please note, you will not be able to access or manage your Online ISA by telephone, post or at Post Office branches.

 

For more information on paying money in, Nominated Accounts and withdrawals, please see the relevant sections of the Key Information Pack and the individual Product Factsheet(s).

FAQs

Answers to some of your most common questions

What is an ISA?

An ISA is an Individual Savings Account, which offers a tax-efficient way to save as you pay no tax on the interest earned in an ISA.

There are three types of ISA - cash ISAs (which can have a fixed or variable interest rate), stocks and shares ISAs (where your money is usually invested in stocks and shares) and innovative finance ISAs (where you earn interest on peer-to-peer lending platforms).

How much can I pay into my ISA?

You can pay in up to £15,240 between a cash ISA, a stocks and shares ISA and an innovative finance ISA this tax tear (that's the period from 6th April to 5th April). You can only pay into one cash ISA, one stocks and shares ISA and one innovative finance ISA in each tax year.

Who can open the Online ISA?

To open the Online ISA you have to:

  • be aged 16 or over and a UK resident for tax purposes
  • hold a UK personal bank or building society account in your name (sole or joint)
  • not already hold an Online ISA with us

 

The minimum opening amount is £100 (minimum opening amounts vary between the products within the Online ISA). Please note, you’ll also need a valid email address, as this is how we’ll correspond with you about your ISA.

Do I pay tax on my savings in an ISA?

The interest earned in the Online ISA is tax-free. Tax-free means the interest paid will be free from UK Income Tax and Capital Gains Tax. The tax advantages depend on your individual circumstances and the tax treatment of ISAs may change in the future.

How can I open an Online ISA?

Please make sure you read the Key Information Pack (which contains the Terms and Conditions) and any relevant Product Factsheets before you apply.

Once you're ready to apply, please complete an online application by selecting ‘Apply Now’. We are not able to accept paper or telephone applications.

You can open the Online ISA with a deposit by debit card, cheque, or by transferring another ISA you hold. You’ll be given the option to choose one product you wish to open within your Online ISA. If you’d like to split your funds across more than one product, you can choose to put your money in the Holding Account and move your funds once your account has been set up.

Please note, the products or rates of interest on offer can be changed or withdrawn at any time. If you are using the Holding Account to consolidate or split your ISA savings before opening a specific product, there is a risk that the product or rate of interest you wanted will no longer be available by the time any funds are received.

Will I be required to provide proof of identity?

We’ll use electronic checks to confirm your identity (if you’re over 18 and are not applying on behalf of someone else) as part of the Online ISA application process. If we’ve been unable to confirm your identity electronically, we’ll contact you by secure message to request identification before we can open your account.

For fraud prevention and so that we can comply with anti-money laundering legislation, we may also ask for identification to be provided at other times. Please see the 'How do I certify my documents?' section for further information.

How does the Online ISA work?

The Online ISA allows you to manage your ISA savings online. Once your account is open you can pay in your savings across different types of products (fixed rate with different terms or variable rate products), or put it all into a single product offered within the Online ISA. When your Online ISA is open and you have logged in, you’ll be able to make deposits, transfer in other ISAs, open new products and move money between products. You can also view your personal details, statements and important documentation related to your ISA.

Can I split my annual ISA allowance or existing ISA savings between multiple products within the Online ISA?

Yes, you can select to open multiple products within the Online ISA (subject to the Terms and Conditions and Product Factsheets). You can open a new product with a deposit or a transfer of funds from another ISA provider. Before making a decision to transfer your existing ISA to us you should check if your current provider will charge a fee.

If you would like to split your ISA savings between products, or would like to consolidate funds from previous years’ ISAs before opening a product, you can choose to put your funds into the Holding Account. You can then split the funds in the Holding Account to fund the opening of one or more products. For example, if you had £15,240 available, you could split this according to your needs, and choose to pay in £1,000 into product A, £4,240 into product B, and £10,000 into product C.

Please note, the products or rates of interest on offer can be changed or withdrawn at any time. If you are using the Holding Account to consolidate or split your ISA savings before opening a specific product, there is a risk that the product or rate of interest you wanted will no longer be available by the time any funds are received.

Can I transfer my stocks and shares ISA to the Online ISA?

Yes. You can transfer the value of your stocks and shares ISA to the Online ISA. 

Please be aware that the Online ISA is a cash ISA. Once your stocks and shares ISA is transferred, these will become cash ISA funds.

Before making a decision to transfer your existing ISA to us you should check if your current provider will charge a fee.

Please note, there will be on-screen instructions provided when you request an ISA transfer, and you may need to print out relevant documents and send them to us by post.

How do I open the Online ISA with a transfer from another ISA provider?

When you complete the online application you’ll be asked how you’d like to fund the product you're opening in your Online ISA. From the drop down options select 'ISA Transfer' and press 'Next'.

The on-screen guidance will explain how to complete the transfer form. Please note, depending on which provider you are transferring funds from, you may need to print a paper form to send to us in the post (to the address below): 

Post Office Money Savings
PO Box 5179
Brighton
BN50 9UY

We’ll inform you when your transfer has been completed.

Before making a decision to transfer your existing ISA to us you should check if your current provider will charge a fee.

Can I transfer funds from another Post Office savings account to the Online ISA?

You cannot currently transfer funds directly from another Post Office savings account into the Online ISA unless it is another ISA you already hold with the Post Office. If funds are withdrawn from the Post Office savings account, you can then pay in to the Online ISA by cheque or debit card. Please be sure to check whether withdrawing funds from your existing Post Office savings account would incur any charges.

Who is OneFamily

OneFamily is the ISA Manager for the Online ISA. OneFamily manage the ISA and provide the servicing on behalf of the Post Office. 

OneFamily is a trading name of Family Investment Management Limited and Family Equity Plan Limited, which are authorised and regulated by the Financial Conduct Authority. The registered address of Family investments is 16-17 West Street, Brighton, BN1 2RL, United Kingdom.

Money paid into the Online ISA is deposited with Bank of Ireland UK.

Who is Bank of Ireland (UK)?

Money paid into the Online ISA is held by OneFamily and deposited with Bank of Ireland (UK) plc (Bank of Ireland UK).

Their principal place of business is Bow Bells House, 1 Bread Street, London EC4M 9BE.

To understand how your savings are protected please refer to the FAQ ‘How are savings in the Online ISA protected?’

How are savings in the Online ISA protected?

For more information about how savings in the Online ISA are protected, please read the Deposit Information Sheet. This sets out details of how your money is protected with Bank of Ireland UK, who is the `deposit taker' for the Online ISA.

If you make payments directly to us, we will initially pay these into an account held with NatWest. We will then transfer this money to Bank of Ireland UK. This is also what happens if we receive a transfer cheque from another ISA provider. Please note that any money you hold in other accounts with NatWest will count towards compensation limits.
 
You can find out more about how your money is protected when it's held in a bank or building society account by going to the "What we cover" section of the FSCS website at www.fscs.org.uk.

Further information about compensation arrangement is also available at http://www.postoffice.co.uk/your-savings-are-protected

How do I make an additional deposit to my Online ISA?

Once your Online ISA is open and you've logged into it, you can make additional deposits into either a new product (when available) or into existing products held in your Online ISA (if they accept additional deposits) by debit card payment online or by cheque. 

The minimum deposit amount can be found in the Key Information Pack (for existing products) or the Product Factsheet (for new products).

You can see your remaining subscription allowance for the current tax year (subject to any stocks and shares or innovative finance ISA contributions) on your 'ISA Overview’ page.

Can I withdraw funds from my Online ISA?

Once your Online ISA is open, you can withdraw funds from it at any time by accessing your account online. You can either select the product you'd like to make the withdrawal from on your 'ISA Summary' screen or you can select the 'Withdrawals and closures' area of your account. Please note this ISA does not have flexible features. This means that once withdrawn, your money will lose the tax advantages of ISAs and cannot be replaced within this ISA without affecting your annual ISA allowance.

Whether there is a charge depends on which Online ISA product(s) your savings are held in. There are no restrictions on the number of withdrawals that can be made from Easy Access products or the Holding Account.

Withdrawals are not permitted during the fixed term of the Fixed Rate product. If you need access to your money during the fixed term, you’ll need to close the product, which will incur a Breakage Charge. If the interest you’ve earned doesn’t cover this, you’ll get back less than you put in. Please note, the Breakage Charge will not be applied if you close your product within 14 days of opening.

If you are opening a new product, the number of withdrawals allowed is displayed in the product selection tables and in the Product Factsheets, so you can make sure the features of the product suit your requirements.

What interest rates apply?

If you do not yet have an Online ISA with us, you can see the current range of Post Office ISAs (and interest rates) available by visiting www.postoffice.co.uk/savings-accounts.

If you already have an Online ISA with us, you can see the current interest rates that apply to your products on the ISA Overview page once you’re logged in. For more information on how your interest rates work, please refer to the Key Information Pack and Product Factsheet saved in your 'My Documents' area.

When will I start to earn interest?

Opening the Online ISA:

Please be aware, if we’ve asked for proof of identity or any other information before we can open your account, then no interest will be earned until we’ve received the required information.

Once your ISA is open your payments will start to earn interest as detailed below:

Debit card – will start to earn interest two working days after your payment is authorised (e.g. deposits authorised on a Saturday will start earning interest on a Tuesday).

Cheques – will start to earn interest from the day we receive the cheque. Please note, we only accept deposits by cheque on working days.

A transfer from a cash ISA – will start to earn interest from the earlier of either the date on the cheque or the date the electronic transfer payment is sent to us from your old provider (depending on the method of transfer), but no later than the 16th working day after we received your application.

A transfer from a stocks and shares ISA –  will start to earn interest from the working day we receive the transfer cheque and valid Transfer History Form from your old provider.

A transfer from another Post Office ISA – If you are transferring from an existing Post Office cash ISA, the transfer value will start to earn interest 2 working days after your application or transfer instruction is accepted. For a transfer from a Post Office stocks and shares ISA this would be 3 working days after your application or transfer instruction is accepted.

Funding from another product within the Online ISA – on the same (working) day that it is processed.

Please note, working days do not include a Saturday, Sunday or English Bank Holidays.

When do I receive my interest on my Online ISA?

Please note this information is available in the Product Factsheets, which are available before you apply for a product. A copy of the Product Factsheet can also be found for any products you hold in your Online ISA ‘My Documents’ area.

Holding Account

Funds in the Holding Account will earn a variable rate of interest. Interest will be calculated daily and paid annually into the Holding Account on 20th March each year.

Easy Access products

Funds in the Easy Access product will earn a variable rate of interest. A fixed bonus will also be paid as detailed in the Product Factsheet. Interest is calculated daily and will be paid annually on 20th March each year. Interest will also be paid on closure of your product.

Fixed Rate products

During the fixed term, funds in a Fixed Rate product will earn a fixed rate of interest. Interest is calculated daily and will be added to the Fixed Rate products on the anniversary of the start date each year and also on the date the fixed term ends.

After the end of the fixed term the full value of the Fixed Rate product, including interest received, will be paid into the Holding Account, which earns a variable rate of interest.

Are there any fees or charges?

We do not charge for any of our standard services (as described in the Online ISA Terms and Conditions).

A Breakage Charge will be applied for early closure of a Fixed Rate product. Early closure includes closing a Fixed Rate product during its fixed term, or transferring or closing your Online ISA while you have funds in a Fixed Rate product still within its fixed term. Early closure does not include closure within the first 14 days of having opened a Fixed Rate product within your Online ISA.

If a Breakage Charge is applied, it will be deducted from the any interest earned. In the instance where not enough interest has been earned to cover the Breakage Charge, it will be deducted from the balance of the product. This will reduce the total balance in the product to be returned to you.

Details of the Breakage Charge can be found in the Product Factsheets. The Breakage Charge equals 90 or 180 days' loss of interest, depending on the length of the fixed term. The Breakage Charge will be calculated assuming a 365 day year.

Charges may change in the future. For more details about charges and changes to charges, please see the Key Information Pack, which contains the Terms and Conditions of the Online ISA.

How do I change my address / personal details?

To change your email address, residential address, telephone number or marketing preferences please log in to your Online ISA and visit your 'Personal Details' page. If any other of your personal details need updating you can contact customer services by sending a secure message.

Please note that for a change of name or date of birth we’ll require certified evidence of the change. For more information on how to certify documents, please see our FAQ ‘How do I certify my documents? (In the category ‘What identification do I need to provide?)
Once certified, please send your documents to us at:

Post Office Money Savings
PO Box 5179
Brighton
BN50 9UY

What do I do if I cannot remember my log in details?

You can reset your password by selecting 'I have forgotten my password' on the log in page. If you cannot remember any of your log in details, please contact customer services on 0345 602 3409* who will be happy to help.

*Open 9am-7pm weekdays and 9am-1pm Saturdays. Calls cost no more than calls to geographic numbers (01 or 02). Calls from landlines and mobiles are included in free call packages. Calls may be monitored and recorded for training purposes.

How do I make a complaint?

If you need to make a complaint, please contact us and we’ll do everything we can to resolve your complaint as quickly as possible, but please allow up to 5 working days for a reply. 

When we first write to you, we’ll send you a summary of the procedures that we’ll follow when resolving your complaint. 

If you want to contact us to make a complaint you can do so by sending us a secure message from your Online ISA or by writing to the following address: 

Post Office Money Savings
PO Box 5179
Brighton
BN50 9UY

Alternatively, you can speak to our Customer Service Team on 0800 169 7500*.

Calls to 0800 numbers are normally free from UK landlines and mobile phones. 

If you are not satisfied with the response to your complaint, you may be able to refer it to the Financial Ombudsman Service (FOS). Making a complaint won’t affect your legal rights. You can contact the FOS by writing to:

Financial Ombudsman Service (FOS),
Exchange Tower 
London
E14 9SR

0300 123 9123

www.financial-ombudsman.org.uk

email: complaint.info@financial-ombudsman.org.uk

* Calls may be recorded, monitored and used for training and compliance purposes. Open from 9am – 7pm weekdays and 9am – 1pm on Saturdays

If I change my mind, can I cancel my Online ISA?

Yes, you have 14 days from the date your Online ISA opens to cancel your account. You can let us know you’d like to cancel by sending us a secure message. If you decide to cancel, your Online ISA and any products you’ve opened within it will be closed and you’ll receive a full refund of any deposits made plus tax-free interest. Any returned deposits will not be regarded as having been paid into the ISA, and so will not count towards your ISA allowance for the current tax year.

If you do not cancel within the 14-day cancellation period and request to close your Online ISA after this date, your money will no longer benefit from the tax advantages of an ISA. If you’ve paid in to your Online ISA in the same tax year that you close it, you won’t be able to pay money in to another cash ISA in the same tax year.

Can I cancel individual products that I open in my Online ISA?

You cannot ‘cancel’ individual products you've opened within your Online ISA. This means that unless you cancel your entire Online ISA within the 14-day cancellation period, any deposits you’ve made into your product(s) will count towards your annual ISA allowance. 

Although you can’t cancel individual products, you can request to close any product held within your Online ISA at any time. Some products will also allow you to take partial withdrawals from them. To request a withdrawal or to a close a product, you’ll need to send us a secure message. Any associated withdrawal restrictions or Breakage Charges will apply. You can find information about these within your Product Factsheets. 

When you request a withdrawal or to close the product, you can ask to have the money paid either to your Nominated Account or to the Holding Account of your Online ISA. If you’ve requested to have the money paid to your Nominated Account, the money will lose its tax advantage; however, if the money is paid to your Holding Account you can reinvest these funds into other products within your Online ISA and it will retain its tax advantages. 

Please note, if the product you’ve selected to open has a Breakage Charge associated with early closure, this will be waived providing your request to close is received within 14 days of the product opening. If this is an option for your product, it will be stated in its Product Factsheet.

How do I close my Online ISA?

Once withdrawn your money will no longer benefit from the tax advantages of ISAs. If you decide to close your account and you’ve made deposits into your Online ISA in the tax year you close it, you will not be able to make deposits into another cash ISA until the next tax year.

If your request includes closing a Fixed Rate product which is in its fixed term, a Breakage Charge will be applied to that product, which will be detailed in the Product Factsheet. This will also be confirmed before you complete your closure request.

If you have not yet verified your Nominated Account details you will need to provide proof of your Nominated Account before we can proceed with your Online ISA closure. This means we’ll need you to send us a photocopy of one of the following from your bank, dated within the last three months, showing your name, the bank sort code and your account number:

  • A statement
  • An online statement
  • A letter from your bank

 

Finally, please write your Online ISA number on the back and post it to us at:

Post Office Money Savings
PO Box 5179
Brighton
BN50 9UY

Can I transfer my Online ISA to another provider?

Yes, you can transfer your Online ISA in full to another provider. Partial transfers are not permitted. To transfer your Online ISA please contact your new provider. You’ll need to supply your Online ISA number, which can be found on your ISA Overview page.

If you have paid in to multiple products within your Online ISA you cannot transfer out a single product. You’ll have to close your whole Online ISA and transfer out the total value. This may mean that you’ll incur Breakage Charges, dependent on the products you hold within your Online ISA.

What does my Holding Account do?

A Holding Account will automatically be set up for you when you open the Online ISA. You can use the Holding Account to consolidate funds before paying into a product, or to distribute one lump sum deposit across multiple products of your choice within the Online ISA. 

The Holding Account is also where your savings will be placed when products within your Online ISA are closed, e.g. when a Fixed Rate product comes to the end of its term.

Consolidating funds

Some products within the Online ISA only accept a single deposit (such as Fixed Rate products). If you have ISAs with several different providers, you could transfer all the funds to the Holding Account. This would then offer you a single, larger sum that could be paid as a single deposit.

Splitting funds

If you wished to use a lump sum deposit to fund multiple products, you have the option of paying this into the Holding Account. You can then split the funds in the Holding Account to fund the opening of one or more products. For example, if you had £15,240 available, you could split this according to your needs, and choose to pay in £1,000 into product A, £4,240 into product B, and £10,000 into product C.

Please note, the products or rates of interest on offer can be changed or withdrawn at any time. If you are using the Holding Account to consolidate or split your ISA savings before opening a specific product, there is a risk that the product or rate of interest you wanted will no longer be available by the time any funds are received.

Can I transfer funds from another Post Office ISA to an Online ISA?

If you have existing Post Office ISAs these can be transferred in the same way as any other ISA. When you are given the option to select how you wish to fund a new or existing product, select ISA transfer and then choose ‘Post Office’ as the provider and follow the on-screen instructions.

If you're unsure whether you'll be charged a fee for transferring your existing Post Office ISA, please contact us.

How do I certify my documents?

We can only accept photocopies of documents where each page has been certified in the style described, i.e. each page must be certified in original ink (we cannot accept photocopies of documents after they have been certified) and the certifier cannot appear as a named person within the document.

Any documents that are not correctly certified will be returned to you for re-certification.

Please do not send original documents as we’re unable to guarantee their safe return.

Please send the required information to:

Post Office Money Savings
PO Box 5179
Brighton
BN50 9UY

A relative cannot certify your identification. However, the following people can certify your identification:

  • Accountant
  • Barrister, Solicitor
  • Bank or Building Society Official
  • Commissioner of Oaths/Notary Public
  • Justice of the Peace
  • FCA registered broker/introducer
  • Post Office Official (UK only)
  • Attorney

 

The certifier must:

  • Write on each photocopy, 'I certify this is a true copy'
  • State their profession
  • Print their name, address and phone number (staff number or authorised signatory number if appropriate)
  • Sign and date the photocopy

 

Acceptable forms of identity are as follows:

  • Current valid signed passport/EU National identity card
  • Firearms Certificate
  • Electoral ID Card (Northern Ireland only)
  • Current full old style UK driving licence (non-photo card type driving licence)*
  • Current UK/EU photo card driving licence*
  • Correspondence from the DWP (Dept. of Work and Pensions)/Benefits agency (dated within the last 6 months)*

 

Acceptable proof of address:

  • Current Electricity Bill (dated within the last 3 months)
  • Current Gas Bill (dated within the last 3 months) 
  • Current Landline Telephone Bill (dated within the last 3 months)
  • Current Water/Sewerage Bill (dated within the last 3 months)
  • Current full old style UK driving licence (non-photo card type driving licence)*
  • Current UK/EU photo card driving licence*
  • Correspondence from the DWP (Dept. of Work and Pensions)/Benefits agency (dated within the last 6 months)
  • Bank/Building Society/Mortgage/Credit Union or Credit Card statement (dated within the last 3 months)**
  • Local authority correspondence valid for the current year, e.g. Rate/Council tax (dated within the last 12 months)
  • HM Revenue & Customs/Revenue Commissioners correspondence, e.g. tax coding notice (dated within the last 3 months). Note P60 and P45 are not acceptable.

*These items may be used to evidence identity or address, but not both.
**This item may be used to evidence address and nominated bank accounts

I am already a Post Office savings customer, why do I have to provide proof of ID again?

OneFamily manage the Online ISA on behalf of the Post Office. For fraud prevention and so that we can comply with anti-money laundering legislation, an identity check needs to be completed at the point of applying for the Online ISA. Please note this check will be independent of any previous checks carried out for any other Post Office savings or Post Office ISAs you have previously applied for.

How do I log in to my Online ISA?

To log in to your Online ISA you'll be asked to provide your username and password that you selected when opening the account. You'll then be asked to confirm some information from your memorable questions.

You can reset your password by selecting 'I have forgotten my password' on the log in page. If you cannot remember any of your log in details, please contact customer services on 0345 602 3409* who will be happy to help.

*Open 9am-7pm weekdays and 9am-1pm Saturdays. Calls cost no more than calls to geographic numbers (01 or 02). Calls from landlines and mobiles are included in free call packages. Calls may be monitored and recorded for training purposes.

What happens when my fixed bonus ends?

A fixed bonus will be paid as detailed in the Product Factsheet. We’ll notify you when your fixed bonus comes to an end a minimum of 14 days prior to the end of your fixed bonus.

When the fixed bonus comes to an end your product will only earn the variable rate of interest.

What happens when my fixed term ends?

We’ll notify you a minimum of 14 days prior to the end of your fixed term.

At the end of the fixed term the product will close and your funds, including any interest earned, will move into your Holding Account within your Online ISA. You can then manage these funds from the Holding Account by choosing whether to reinvest into another Fixed Rate product, move it into an Easy Access product, spread it across these products or withdraw it.

Can I transfer funds from another ISA provider to the Online ISA?

If you already have an existing ISA with another provider you can transfer your savings into your Online ISA. 

Transferring funds from a previous tax year's ISA will not affect your ISA limit for this tax year.

You can choose whether to use the transfer to pay into an existing product (if the product allows additional payments), fund a new product or transfer the ISA into the Holding Account and then split your funds across the products of your choice.

Before making a decision to transfer your existing ISA to us you should check if your current provider will charge a fee.

What happens if I need to access my money before my fixed term ends?

If you need to access funds held in a Fixed Rate product before the term has ended you’ll have to close your product. If the Fixed Rate product has been open for more than 14 days, there will be a Breakage Charge to close your product. If the interest you’ve earned doesn’t cover this, you’ll get back less than you put in.

You can request to close a product by accessing your account online. You can either select the product you’d like to make the closure from on your ‘ISA Summary’ screen or you can select the ‘Withdrawals and closures’ area of your account.

You can request to close a product in your Online ISA at any time. Payments can either be sent to the Holding Account of your Online ISA, where the money can be moved to other products in your account, or to your Nominated Account, where the money will lose its tax advantages.

The Online ISA does not have flexible features. This means that once withdrawn to your Nominated Account, your money will lose the tax advantages of ISAs and cannot be replaced within your Online ISA without affecting your annual ISA allowance. If you have already used your full allowance in a tax year, you will not be able to make further deposits into your Online ISA in that tax year, even if you’ve made a withdrawal from a product in your account.

You cannot close your Holding Account unless you transfer or close your entire Online ISA, although you can withdraw. 

I've looked through the FAQs and still cannot find the answer to my question. What do I do now?

If you're existing customer please log in to your Online ISA and send us a secure message. Alternatively please send your query to:

Post Office Money Savings
PO Box 5179
Brighton
BN50 9UY

Or call us on 0345 602 34 09*

*Calls cost no more than calls to geographic numbers (01 or 02). Calls from landlines and mobiles are included in free call package.

Definitions

Definitions

0800: All calls to 0800 numbers are free of charge whether made from a landline or mobile phone. Calls may be monitored or recorded for training and compliance purposes.

0345: Calls to 03 numbers will cost no more than calling a standard geographic number starting with 01 or 02 from your fixed line or mobile and may be included in your call package dependent on your service provider. Calls may be monitored or recorded for training and compliance purposes.

Breakage Charge: A charge applied for early closure of a product. Early closure includes closing a product while it is within a fixed term, or transferring or closing your Online ISA while a product within it is in a fixed term. Early closure does not include closure within the first 14 days of having opened a product.

AER: AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Fixed: A fixed rate of interest remains the same and doesn’t change for the duration of the fixed term.

Variable: A variable rate of interest can go up or down throughout the lifetime of a savings account.

ISA: An ISA is an Individual Savings Account. They are a tax-efficient way to save money as you pay no tax on the interest you earn. There are three types of ISA - cash ISAs (which have a fixed or variable rate), stocks and shares ISAs and innovative finance ISAs. You can invest up to £15.240 between a cash ISA, a stocks and shares ISA and an innovative finance ISA this tax year (that's the period from 6th April to 5th April). You can only invest in one cash ISA, one stocks and shares ISA and one innovative finance ISA in each tax year.

Tax-free: Tax-free means the interest paid will be free from UK Income Tax and Capital Gains Tax. The tax advantages depend on your individual circumstances and the tax treatment of ISAs may change in the future.

Nominated Account: A Nominated Account is a current account that we link to your savings account so that you can transfer money safely and securely. It must be a UK personal bank or building society account in your name(s) that accepts Direct Credits.

Secure Message: The method of contact that will be used when communicating about your account. Secure messages can be viewed or sent by accessing your account online. 

Online application is fast and secure (you'll need your National Insurance number)

Other Post Office Money ISAs you might be interested in

Post Office Money ISAs are provided by OneFamily. Savings in Post Office Money Cash ISAs are deposited with Bank of Ireland UK.

Premier Cash ISA

Key features:

  • Up to 2 withdrawals per year
  • Tax-free savings from just £100

FIND OUT MORE

Fixed Rate Cash ISA

Key features:

  • Choose your term – 1 or 2 years
  • Tax-free savings from just £500

FIND OUT MORE

Small print


Information correct as at 6th April 2016.

About OneFamily

OneFamily is a trading name of Family Investment Management Limited (Co. No. 1915516) and Family Equity Plan Limited (Co. No. 2208249), which are authorised and regulated by the Financial Conduct Authority. Registered in England and Wales at 16-17 West Street, Brighton, BN1 2RL, United Kingdom. 
 

About the Post Office

Bank of Ireland UK is a trading name of Bank of Ireland (UK) plc which is registered in England and Wales (No. 07022885). Registered office: Bow Bells House. 1 Bread Street, London, EC4M 9BE.

Post Office Limited is registered in England and Wales. Registered number 2154540. Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ. Post Office Money and the Post Office Money logo are registered trademarks of Post Office Limited.