How your account works
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Interest is calculated daily and paid annually in March.
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There are no charges for opening an Easy Access Cash ISA or making standard transactions. There may, however, be a charge of £5 for cancelling and reissuing cheques or issuing duplicate statements.
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For more information about how savings in the Easy Access Cash 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 Easy Access Cash 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.
Find out more about how your money is protected when it's held in a bank or building society account by going to the FSCS website. You can also read more about compensation arrangement here on our own site.
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A Nominated Account is a UK personal bank or building society account which you can nominate to receive withdrawal payments. If you haven't already provided us with Nominated Account details and would like to set one up, please call 0345 602 3409 and we will send you a Nominated Account request form or we can take your details over the phone. If you decide to pay into your ISA by Direct Debit, the bank or building society account you use will also be used to set up a Nominated Account.
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You can close your account over the phone or by writing to us. Limits apply and ID may be required.
To close your account by phone, please call 0345 602 3409.
Alternatively, you can write to:
Post Office Savings
PO Box 5179
Brighton
BN50 9UYWhere you ask us to repay your money, you can choose to have the funds paid either by cheque or direct to your Nominated Account, providing you have one set up. Limits apply and ID may be required.
You can transfer your ISA in full to another ISA manager at any time. To arrange for the transfer, you will need to contact the new provider.
Deposits, withdrawals and transferring ISAs
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If you have subscribed or indicated on your application form that you intend to subscribe this tax year, you can pay in additional amounts from a minimum of £1 to your Easy Access Cash ISA in any Post Office branch, by phone or by post.
You can make payments into your ISA in five ways:
- Cash (in-branch only)*
- Cheque – make any cheques payable to yourself (eg Mrs J Smith) and write your address clearly on the back and your ISA number
- Debit card (in branch and by phone only)
- Direct Debit
- Transfer from a Post Office savings account (if you hold an existing Instant Saver account, Easy Saver or Online Saver account)
*Restrictions apply. Please see the Terms and Conditions (PDF, 238KB)
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You can currently invest up to £20,000 between the different types of ISAs this tax year (that’s the period from 6 April to 5 April).
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Ideally, ISAs are best used for medium to long-term savings, but if you need access to your savings you can make unlimited withdrawals per tax year. The minimum withdrawal amount is £10 or the balance in your account, if it's less than £10.
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.
Withdrawals can be requested over the phone or in writing (limits apply and ID may be required). To make a withdrawal by phone, please call 0345 602 3409.
Alternatively, withdrawal requests can be sent to:
Post Office Savings
PO Box 5179
Brighton
BN50 9UYPlease include your name, address, ISA number, withdrawal amount and how you would like the payment to be made.
Withdrawals will be paid by Direct Credit to your Nominated Account or by cheque. Please note, you cannot withdraw money over the counter in a Post Office branch. Limits apply and ID may be required.