FAQs

To get started simply download the app from our download page.

If you have pensions from old jobs (or even other pensions you’ve set up yourself), we can transfer them over to your Beach pension pot. Allowing you to see and manage all your retirement savings in one place.

It’s only a few details and we’ll handle the whole pension transfer process.

To transfer a pension, navigate to ‘Settings’ within the app (top left on the app), and select ‘Transfer a pension from a previous job to Beach’, and follow the simple steps to confirm your transfer. You’ll need the name of your existing provider, and if you have it, your policy or reference number (which should be on any documents you have).

We’ll handle the rest, and your money will turn up in your account within around 6 weeks (although it can take longer depending on the provider you are transferring from).

Pensions you can transfer

• Personal pensions – From an old job, or one you’ve set up yourself (and haven’t withdrawn money from it).
• Pension from your current job
• Pensions with defined benefits – Such as where you receive a guaranteed income (common in public sector jobs such as the NHS).This includes ‘defined contribution schemes’ with guaranteed benefits too.

Note: We won't charge a fee. However, your current provider may charge a fee. They should let you know.

If you have an ISA (Individual Savings Account), or multiple ISAs from different providers (companies), we can transfer them over to your Beach easy access pot. Allowing you to manage all your savings in one place.

It’s only a few details and we’ll handle the whole ISA transfer process.

To transfer an ISA, navigate to ‘Settings’ within the app (top left of the app), and then tap ‘Transfer an ISA to Beach’, and follow the simple steps to confirm your transfer. You’ll need the name of your existing provider, and your policy or reference number (which should be on any documents you have.)

We’ll handle the rest, and your money will turn up in your account within a few weeks (although it can take longer depending on the provider you are transferring from.)

ISAs you can transfer

• Stocks and Shares ISA (can also be called an investment ISA)
• Cash ISA

Note: We won't charge a fee. However, your current provider may charge a fee. They should let you know.

To find out how much Beach costs visit our pricing page.

Alongside aiming to grow your money sensibly over time, the investments also have a focus on making the world a better place in the future.

They consider things like reducing the impact of climate change by reducing carbon emissions.

Here's where you can find more about the investment plans we offer.

We're open Monday to Friday (8am to 6pm) and Saturday (8am to 1pm).

We’ll aim to respond within 4 hours of our opening times.

Heads up – we’re unable to provide personal investment or tax advice.

Why pay tax when you don’t need to?

With Beach, you can open an ISA and a pension, both offering great tax saving benefits.

This means your savings could grow much more over time.

Advantages

• Tax relief from the government, added automatically (25% bonus).
• Claim back 40% or 45% tax if you’ve paid it on your income.
• Grows tax-free (you might pay tax when you withdraw it).
• 25% can typically be withdrawn tax-free (up to £268,275).
• Passes to your family tax-free if you pass away under the age of 75.

To consider

• Save up to your yearly income each tax year (with a maximum of £60,000).
• Can’t withdraw until you’re 55 (57 from 2028), or terminally ill.

Advantages

• Never pay any tax on the money you make (meaning your money could grow much faster over time).
• Access your money whenever you like (typically within a few days, but could be around a week).

To consider

• Save up to £20,000 per tax year.

Beach provides you the ability to save and invest your money for your future, and we offer investments managed by the largest investment company in the world, BlackRock.

The aim of these investments is to grow in value over time. Typically the longer you save for, the more chance it has to grow.

A sensible investment strategy (such as our plans with BlackRock), will usually mean your investments go up in value over time (typically over a period of 5 years or more).

However, your money will go up and down in value, often daily, and this can mean your money could be worth less than you put in when you want to withdraw it.

These ups and downs shouldn’t be feared – they’re the reason why your money could grow very large over time.

However, there are no guarantees, so you'll need to be prepared for your investments to go down in value, as well as up – there’s no reward without risk as they say.

Your money will be invested in a fund, which is a collection of lots of other people’s money, all pooled together, and managed by BlackRock, the largest investment company in the world.

Their experts know a thing or two about investing, and aim to grow your money over time using sensible investment strategies. Your money will be invested in a range of different investments globally – so your eggs aren’t all in one basket.

And, they’ll constantly monitor the risk and performance – but there’s no guarantee your money will grow, investments can go up and down in value over time.

The investments also have a focus on making the world a better place in the future. They consider things like reducing the impact of climate change by reducing carbon emissions.

This means that they're doing good in the world, something we proudly support.

Here's where you can find more about the investment plans we offer.

A pension pot is for saving towards retirement. You can start withdrawing your money from age 55 (57 from 2028).

Every time you add money, you’ll get a 25% bonus added automatically (this usually arrives at the end of the following month).

We call this a bonus as it’s like free money from the government. It’s actually tax relief, and is to refund tax you’ve paid (or will pay) on your income.

If you pay 40% or 45% tax, you can claim more back via a Self Assessment tax return.

Keep in mind, tax rules may change, and your tax benefits depend on your circumstances.

Money added can be put in one pot, or split between the two.

Providing the flexibility to save for now and your future at the same time.

Note: we’re unable to provide advice on how to split your money between pots.

An easy access pot is ideal for general savings

Save tax-free, and access your money within a few days (but could be around a week).

A pension pot is ideal for retirement savings (25% bonus)

You can start withdrawing money from age 55 (57 from 2028).

Set your own default savings split

For example, 50% into your easy access pot and 50% into you pension pot. Or, you could put all your money in one pot.

Notes: This applies to new money added from your bank, and can be changed any time. We’re unable to provide advice on how to split your money between pots.

You’ll need a standard account in order to save with Beach. We use this account for essential features such as adding money from your bank account.

You can use this account as an alternative to an ISA within your easy access pot, or in addition if you’ve reached your yearly limits on your ISA and pension.

We’ll automatically invest your money in this account if you save more than £20,000 per tax year into your ISA.

There’s no tax-efficient saving benefits, so you might have to pay tax on the money you make.

Note: the government could change these tax or any other rules in the future, and your overall tax treatment will depend on your individual circumstances.

Within your easy access pot is an ISA (Individual Savings Account), which is a tax-free savings account, where you won’t pay any tax on the money you make within it (which can be a huge saving over time).

You can save up to £20,000 per tax year (April 6th to April 5th the following year).

If this limit is reached, or you don’t want to save within an ISA, a standard account will be used (this doesn’t have any tax-free benefits).

You can access money within a few days but could be around a week.

Note: the government could change these tax rules in the future, and your overall tax treatment will depend on your individual circumstances.

Within your easy access pot is an ISA, which is a tax-free savings account, meaning you won’t pay any tax on the money you make within it (which can be a huge saving over time).

You can save up to £20,000 per tax year (April 6th to April 5th the following year).

If this limit is reached, or you don’t want to save within an ISA, a standard account will be used (this doesn’t have any tax-free benefits).

You can access money within a few days but could be around a week. Investments must be sold first, which takes time and only occurs on weekdays.

Note: the government could change these tax or any other rules in the future, and your overall tax treatment will depend on your individual circumstances.

Beach customers are protected by the Financial Services Compensation Scheme (FSCS).

The Financial Services Compensation Scheme (FSCS) can provide compensation to you should a financial company holding your money end up going out of business and is not able to return any or some of your money to you.

The FSCS is currently able to award up to £85,000 per financial company.

With investments, your money is held within the investments themselves, which are held in your name, and the financial company would not be able to access your investments for any reason. They can only be returned to you.

This means although the FSCS is great to have, there’s even more protection behind the scenes for you and your investments.

Having said that, if your investments go down in value, this is not covered. It is just if something happens outside of your control.

Every time you add money to your pension pot, you’ll get a 25% bonus from the government. This is added to your pension pot automatically.

So, the more you save, the bigger your bonus.

We call this a bonus as it’s like free money from the government, which you’ll only get from saving into your pension.

It’s technically called tax relief, and it’s to refund tax you’ve already paid, or will pay, on your income (as pensions are tax-free).

If you pay 40% or 45% tax, you can claim more back via a Self Assessment tax return (we can help point you in the right direction).

Note: the government could change these tax rules in the future, and your overall tax treatment will depend on your individual circumstances.

We provide an easy way to help you save for a brighter future.

We’ll arrange all the bits behind the scenes, such as buying, selling, and the safekeeping of your investments.

However, we’re unable to provide financial, legal, investment or tax advice, or any other type of advice, assessment or recommendations.

It is your responsibility to decide if the pots and investments offered are suitable for you.

Safety and security

Your money will be held within investments managed by BlackRock, the largest investment company in the world. These investments are held all in your name (you own them), and can only be withdrawn by you.

In the unlikely event we were to go out of business, your investments and accounts would still remain, and will be transferred to another provider, or you’ll be able to withdraw to your bank account (if within an ISA or standard account).

You are also covered by the Financial Services Compensation Scheme (FSCS), up to £85,000 (subject to eligibility).

To manage your investments, we partner with BlackRock, the largest investment company in the world.

Their experts know a thing or two about investing, and aim to grow your money over time using sensible investment strategies.

There’s a different investment plan for our easy access pot and pension pot.

The easy access pot is designed to steadily grow over time, and contains a wide range of investments, including some of the biggest companies in the world, so all your eggs aren’t in one basket.

With the pension pot, the investments will change as you progress through life. When you’re younger, the goal is to grow your pension larger, and that means bigger ups and downs in value. As you age, the investments will gradually adjust to have less ups and downs, until it’s time for retirement, where a steady income is planned.

Head over to our investment plans page to learn more about each investment plan.

Remember, your money will go up and down, so you could get back less than you put in.

BlackRock is the largest investment company in the world, established over 30 years ago.

As an investment company, they develop sensible, tried and tested, investment strategies to grow money over time, which includes buying and holding lots of different types of investments, such as shares in companies (shares represent the ownership of a company), with the view these investments will grow over time.

BlackRock will look after (hold) all the investments on behalf of investors, and make gradual changes over time to ensure the investments are always on the right path to long-term growth.

They're very good at this, and in fact, they manage an astonishing £8 trillion.

Your money will be in expert hands, but there’s no guarantees. Your money will go up and down in value, meaning you could get back less than you put in.

There’s lots of things behind the scenes when it comes to saving and investing, and to help us manage your account and investments, we partner with a company called WealthKernel...

WealthKernel manages your standard account, ISA and pension, on our behalf, and through these accounts, purchases and holds the investments directly. Everything remains in your name, and you own it.

To make things as smooth as possible, when you add money to your account, it goes directly to your account(s) with WealthKernel – all safe and secure.

WealthKernel Limited is authorised and regulated by the Financial Conduct Authority (number 723719), and registered in England and Wales (company number 09686970).

WealthKernel terms and conditions

Retail client Terms and Conditions

Terms for the SIPP (pension)

Terms for the Stocks and Shares ISA