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Online Cash ISA

Manage your tax-free savings through online banking and our mobile app.


  • Earn 0.56% tax-free AER variable, paid annually.
  • Open an account with £1.
    • Get the option to choose your current tax year’s ISA allowance (up to £20,000) and/or transfer in ISA allowances from previous tax year’s.
  • Manage your savings anytime, anywhere with our online banking and mobile app.
    • You cannot deposit or withdraw cash and/or cheques from this account.
  • Available as a sole account only.
  • You'll receive paperless statements, that will be made available through online banking.

Summary Box for Online Cash ISA

  • The information provided below is a summary of the key features of our Online Cash ISA and is not intended to be a substitute for reading its terms and conditions.

Account name


Online Cash ISA

What is the interest rate?


Interest paid annually
Tax-free 0.56% AER 0.56%
  • Interest is calculated daily and will be paid into your account annually on 5 April.

Can The Co-operative Bank change the interest rate?


Yes, the interest rate is variable which means it can go up or down.

We may change your interest rate for various reasons, please see the 'Changing these terms and ending this agreement' section of our General Terms and Conditions for more details.

When we increase our interest rates we'll tell you about the change within 30 days after it's happened.

When we decrease our interest rates we'll inform you by personal notice at least two months before we make the change.

What would the estimated balance be after 12 months, based on a £1,000 deposit?


Initial deposit at account opening £1,000.00
Balance after 12 months £1,005.60

We have worked this out assuming:

  • The 12 months starts on 5 April.
  • You haven't made any additional deposits or withdrawals.
  • We have not changed the interest rate in the 12 month period.

How do I open and manage my account?


Can I apply for this account?

To apply, you must:

  • Be a UK resident (for tax purposes).
  • Be aged 16 or over.
  • Have either a Co-operative Bank Current Account, Current Account Plus, Privilege current account, Privilege Premier current account, Student current account, Cashminder Account, Everyday Extra Current Account or any other account we specify in the future.
  • Be registered for and apply through our online banking.
  • This account can only be opened as a sole account.

How do I apply for this account?

You can only apply for this account through the 'Products' section of online banking therefore you need to be an existing customer who is registered for online banking.

Is there a minimum and a maximum balance?

The minimum opening balance is £1.

The maximum balance is £1,000,000.

You've got 30 days from when we open your account, to pay in the minimum balance of £1. If after 30 days you haven't met the minimum balance, we may close the account immediately and return any funds to you.

How do I make deposits into this account?

If you're using your annual ISA allowance for the current tax year - you can pay money in by:

  • Electronic transfers from another account held with us or another provider (such as by using their app or setting up a standing order).
  • You cannot deposit or withdraw cash and/or cheques from this account.

The maximum you can pay into the Online Cash ISA in the 2018/2019 tax year is £20,000.

If you're transferring your cash ISA to us - you can do this by providing us with a completed ISA transfer authority form.

You'll receive the form in your welcome pack so just complete it, return it to us and we'll arrange the transfer on your behalf.

How do I contact you to discuss this account?

By telephone or visiting a branch.

Can I withdraw money?


Yes - whenever you want as this account has no restrictions on the number of withdrawals. However, as this cash ISA is not a flexible cash ISA, any withdrawn money that you want to replace will count towards your ISA subscriptions for the current tax year, and you are only allowed to deposit up to the maximum ISA limit in a tax year.

So, for example, if you have deposited £10,000 and then withdraw £1,000, you will only be able to deposit a further £10,000 in that tax year.

You can make withdrawals through the following ways:

  • Online and Mobile Banking through electronic transfers to other accounts with us or another provider.
  • You cannot deposit or withdraw cash and/or cheques from this account.

Additional information


Interest earned from this account will not count towards any of your available personal savings allowance.

All interest earned from your ISA will be free of both Income and Capital Gains Tax.

You cannot subscribe to a cash ISA with us if you have already contributed to another cash ISA using this tax year’s ISA allowance, or if you have already invested the full ISA allowance in another type of ISA this tax year.

If you do not place any money in your account during a tax year, you will need to contact us to make a new declaration should you wish to make a deposit in a subsequent 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.

Tax Free - The contractual rate of interest payable where interest is exempt from income tax.

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

Tax-year - A tax year runs from 6 April to 5 April the following year.

To apply, you need to be:

  • A UK resident (for tax purposes).
  • 16 or over.
  • Registered and apply through our online banking.
  • A Co-operative Bank current account customer.
  • You can have either a Co-operative Bank Current Account, Current Account Plus, Privilege current account, Privilege Premier current account, Student Current Account, Cashminder account, Everyday Extra Current Account or any other account we specify in the future.

Approval is based on an assessment of your personal circumstances.

Ready to apply?

Please read our Terms and Conditions and other important documents before applying.
  • All the information you’ve read so far (e.g. features, eligibility) can be found in the important documents below. We recommend that you save a copy of these important documents for future reference.
Start application

Important documents

Product Specific Terms and Conditions, Keyfacts & Summary Box (which contains interest rates)

Download Product Specific Terms and Conditions, Keyfacts & Summary Box (which contains interest rates) PDF (1.19MB)

The Co-operative Bank Savings General Terms and Conditions

Download The Co-operative Bank Savings General Terms and Conditions PDF (1.33MB)

How we use your personal information

Download How we use your personal information PDF (622KB)

Charges for Co-operative Bank Savings Accounts

Download Charges for Co-operative Bank Savings Accounts PDF (731KB)

The Financial Services Compensation Scheme Information Sheet and Exclusion List

Download The Financial Services Compensation Scheme Information Sheet and Exclusion List PDF (3.36MB)

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).