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Information about Flexible and Innovative ISAs


See below for information about Flexible and Innovative ISAs that were introduced by the government on 6 April 2016.

  • Please note: We offer a range of cash ISAs but do not offer flexible cash ISAs, stocks and shares ISAs or innovative finance ISAs.

Are your ISAs flexible?

Our ISAs aren’t flexible, where you can take money out of a cash ISA and return it in the same tax year. While flexibility benefits some customers, we’ve prioritised other products and services that more customers find valuable.

We won’t rule out the possibility of flexible ISAs being available in future, as we continually review our products and services to ensure they still meet your needs.

What are innovative finance ISAs?

An innovative finance ISA is a new type of ISA, which lets you get the most of tax-free interest and arrange loans through peer-to-peer platforms. As an ISA customer, some banks let you loan your money out to other customers. However, this is considered a more risky type of loan, so we don’t offer this to our savings or loan customers.

So from 6 April 2016 you can save up to the annual ISA allowance (£15,240) in a cash ISA, a stocks and shares ISA, an innovative finance ISA or any combination of the three. However you can only subscribe to one of each type of ISA each tax year.

Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on your individual financial circumstances.

The Co-operative Bank reserves the right to decline or accept any application and/or deposit.

  • Remember you can subscribe to a Co-operative Bank/ Britannia Cash ISA as long as you have not subscribed to another cash ISA with another provider in the current tax year.

smile, The Co-operative Bank and Britannia are trading names of The Co-operative Bank plc, which is a member of the Financial Services Compensation Scheme (FSCS).

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