Cash ISAs

You can open an ISA with us if:

• You’re at least 18 years old
• You’re a permanent UK resident, and only subject to UK tax
• Your cash ISA will be in your name only (we don’t offer joint ISAs)

You can only open and subscribe to one cash ISA account with Shawbrook in any given tax year. You cannot open a cash ISA acting on behalf of an account holder with power of attorney, guardianship or an intervention order.

The differences between withdrawing and transferring an ISA  

There is a difference between withdrawing and transferring. If you withdraw money from an ISA into a non-ISA, before then placing it into another ISA, the money will lose its tax-free status. 

If the money was deposited in the same tax-year, it will also reduce how much money you can pay back into an ISA during that tax-year given the Annual ISA Allowance of £20,000.  

Transferring from one ISA to another ISA ensures you maintain ISA tax-free status benefits.  

Flexible ISAs are the exception. A flexible ISA allows withdrawals and replacement of money during the same tax year, without affecting your annual ISA allowance year. Shawbrook does not offer flexible ISAs.

Operating multiple ISAs across different providers  

In 2024, it became possible to operate more than one ISA in the current tax year. This means you can invest in multiple ISAs with different providers at the same time – spreading your annual allowance across them all.   

Therefore, you may want to consider all options before transferring your ISA from one provider to another. For example, you now could open an additional cash ISA with another provider and keep contributing to your Shawbrook ISA instead of undertaking a transfer provided you do not exceed your annual allowance.   

While you can open and invest in several cash ISAs in one tax year, at Shawbrook we currently only allow you to open one cash ISA per tax year with us.  

For more information, visit our 2024/25 cash ISA allowance page.  

Transferring an ISA is a straightforward process, provided you follow the correct steps to maintain your tax-free benefits. Before proceeding with the transfer, please consult our guidance: What You Should Know About Transferring an ISA.  

Transferring an ISA from another provider to a new Shawbrook ISA 
To transfer an existing ISA from another provider across to a Shawbrook ISA, you should complete an application for a new ISA. As part of your application process, we will capture the details of your current ISA. We will then work with your existing ISA provider to complete the transfer for you, and you'll keep your ISA tax-free status benefits.  

Transferring from one Shawbrook ISA to another Shawbrook ISA 
To transfer your Shawbrook ISA to another Shawbrook ISA you just need to let us know with a secure message by logging into our customer portal and we will complete the transfer.  

Transferring  a Shawbrook ISA to another provider 
If you want to transfer your Shawbrook ISA to a new provider, you need to follow their process for transferring ISAs to them. The information your new ISA provider asks for may vary, but in general you will need to provide a sort code and account number of your Shawbrook ISA.   

Your account number - You can find your account number by logging in to your account. Your account number is displayed on the home screen next to your account name.  

Your sort code - Our sort code is 16-58-73. This is the same sort code used on all Shawbrook savings accounts.    

Other references - Your new provider may ask you for information like a roll number or reference number. We don't use role numbers or reference numbers, so you can leave this blank if your new provider asks for it.    

What happens next  
Your new provider will manage the transfer, confirm next steps and let you know if they have any questions. They'll also confirm when the transfer is complete.  

Partial Transfers 
We don't offer partial transfers, so if you wish to transfer funds from your Shawbrook ISA to another provider, you’ll need to transfer the whole amount and close your Shawbrook ISA.