With our Instant Access Cash ISA you can earn tax-free interest. Keep your money stashed away all year, or take it out and put it back in whenever you like - it's your choice.
You can pay in money when you like up to £20,000. Plus, you can transfer in money from previous years’ ISAs.
Earn 1.40% AER* / UK Tax Free on your savings
Take money out and put it back in the same tax year, as long as you don’t go over £20,000.
See how much you could save with an Instant Access Cash ISA Account when you try our new Savings Calculator tool.
We’re up front with our customers about everything. We’ve created this handy summary of our Instant Access Cash ISA's key features so you can see the important information from the get-go.
Interest rate | Minimum balance | Interest paid |
---|---|---|
Standard Variable Rate of 1.40% AER* / UK Tax Free (variable) |
£1 |
Annually |
*AER stands for annual equivalent rate. It shows how much the interest rate would be if the interest was worked out once a year. You can use it to compare different financial products.
Gross rate is an annual contractual rate which is calculated daily and paid out at a frequency applicable to the product.
You can apply to open an account if:
You are allowed to subscribe to multiple cash ISAs in a tax year from 06 April 2024 across all ISA providers, but will be able to subscribe to only one Metro Bank ISA in a tax year. You can save or invest up to £20,000 in total the 2024/25 tax year into a combination of the following ISA types; Cash ISAs, Stocks and Shares ISAs, one Lifetime ISA and Innovative Finance ISAs.
Unlimited access to your money. No notice needed. Funds withdrawn can be replaced in the same tax year.
You can transfer money from an ISA with another bank or building society to our Instant Access Cash ISA. And you’ll earn interest on this money before it even arrives in your account – we'll backdate the interest to the date the transfer form was signed.
This doesn’t apply to transfers from accounts where you have to give notice to take money out. It also doesn’t apply when you’re transferring money from a stocks and shares ISA. In these instances interest will start from the day funds are received.
You can transfer as many previous years’ funds as you like and this will not impact this year’s ISA subscription amount.
If you wish to transfer in previous years funds, please visit your local store.
We’ll charge you for issuing a banker’s cheque. Each cheque costs £15.
Download our PDF to read when you like - it contains all the ins and outs of our Instant Access Cash ISA.
Instant Access Cash ISA Details (PDF)(846KB)
Our Service Relationship with Personal Customers (PDF)(1.2MB)
For more information regarding your FSCS protection, please see the FSCS Information Sheet and Exclusion List.
We'll write to existing customers who are impacted by a change, in line with the timescales outlined in our Terms & Conditions. We'll also update our website with any pending changes.
There are a few different ways you can pay money into your Metro Bank account, the fastest being a payment from one bank to another. You can also deposit a cheque or pay cash* into your account at your nearest store.
*Please note that you may be asked additional questions about the source of funds to help keep your money safe.
We’ve introduced limits on the amount of cash customers can pay into their Metro Bank account each day.
*If you are depositing foreign currency into a ‘regular’ GBP or a Foreign Currency Account, this will be the GBP equivalent of the above limits using the exchange rate on the day of the deposit
The new cash deposit limit for Commercial Current Accounts won’t be introduced until early 2023. If you have this type of account, your Relationship Manager will be in touch nearer the time to discuss the new limit with you.
Changes to who can pay in cash
To pay cash into a Metro Bank account you must either:
Exchanging cash
You can only exchange cash over the counter if you’re a Metro Bank customer.
We give you interest on the money you put away in your cash ISA. You don’t have to pay UK income tax or capital gains tax on this interest. It doesn’t count towards your Personal Savings Allowance and you don’t need to put it on your tax return.
The interest from ISAs doesn’t count towards your Personal Savings Allowance.
Yes. You can take money out whenever you like. If you can afford to put some money away for longer, you might be interested in our Fixed Rate Cash ISA
You can find the rates for any account that is not listed on the current rates page set out in Rates for Closed Products.
Our Limited Edition rates are variable throughout the term and we review these regularly in line with changes in the savings market. We’ll let you know if we decide to change the rates on any savings accounts, including Limited Edition rates, in line with our Terms and Conditions.
Limited Edition rates will not drop below the Standard Variable Rate for each product.
Our Limited Edition rates are variable throughout the term and we review these regularly in line with changes in the savings market. In line with our Terms and Conditions, if we decide to make any changes to interest rates, we’ll let you know by email or letter.
Yes. Customers who are aged over 16 but under 18, with an existing Metro Bank Cash ISA can continue to subscribe to this.
No. From 06 April 2024 you need to be 18 or over to open a new ISA with Metro Bank.
No. You are able to subscribe to only one Metro Bank ISA in a tax year and will need to ask us to transfer your current year's subscription to a new Metro Bank ISA if you'd like to subscribe to another one with us.
You can withdraw funds from your Instant Access ISA by visiting your local store or by calling us on 0345 0808 500.
Call charges might apply – please check with your service provider.
You can close your account by visiting your local store or by calling us on 0345 0808 500. Call charges might apply – please check with your service provider.
If there’s a balance in the account, the funds will need to be withdrawn before the account can be closed.
Switching your current account to Metro Bank is simple and hassle-free. And we guarantee to have it all done and dusted for you in 7 days.
You can open your account on the same day providing relevant checks have passed. Having the right documents will help make the process go smoothly.
Never mind under a mattress or in a sock drawer – your valuables need proper security. We have 5 sizes of Safe Deposit Boxes available.
Your eligible deposits with Metro Bank are protected by the FSCS.