What is an ISA?

Your easy access pot is an ISA – this stands for Individual Savings Account, and is a government scheme to help you save.

You’ll be able to save completely tax-free, so you don’t have to worry about tax as your money grows, or when you want to withdraw it.

This means your money could grow much faster, as you keep more of it.

Plus, it saves lots of admin.You can add up to £20,000 per tax year (April 6th to April 5th the following year), and withdraw any time you like (it may take a few days to arrive in your bank account).

You can also re-add any money you withdraw within the same year, without affecting this total.

If you’ve got an existing ISA somewhere else, you can still open one with Beach, and you transfer your money over to Beach if you want to (we can do this for you).

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