Differences between Fixed Rate Cash ISAs and Fixed Rate ISAs
Our Fixed Rate ISAs are no longer available. Instead, we now offer Fixed Rate Cash ISAs.
There are some differences between our Fixed Rate Cash ISAs and our previous Fixed Rate ISAs. If you've ever held a Fixed Rate ISA, it's important to be aware of these differences.
| Fixed Rate ISA – no longer available | Fixed Rate Cash ISA | |
|---|---|---|
| Interest | Interest was paid annually or monthly. Interest could be paid into another account. | Interest is paid annually. It can only be paid into the ISA, not into another account. |
| Welcome letter | If you reinvested into a new Fixed Rate ISA, you would have received a welcome letter. | You won't receive a welcome letter if you reinvest. We'll send you a closure letter for your old ISA. This will show the account number of the new ISA you have reinvested into. |
| Certificate | You would have received an ISA certificate with your welcome letter. | You won't receive an ISA certificate. A statement will be available after the first month. |
| Statements | Statements for Fixed Rate ISAs were only provided at closure. |
Statements will be provided at opening, closure and when interest is added. You can view your statements through the Internet Bank, or you can ask for one in branch. Your first statement will be available after the first month and will show your opening balance. If you want to check your opening balance before you receive your first statement you can do so through the Internet Bank, Banking app, or in branch. |
| Account number | If you reinvested into a new Fixed Rate ISA, your existing ISA account number would have stayed the same. | You will get a new account number and sort code when you first reinvest into a Fixed Rate Cash ISA. |