Instant Access Cash ISA

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.

• Personal accounts – new daily limit £5,000*
• Business accounts (including community accounts) – new daily limit £10,000*

  *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:

• be named on the account, or
• have authority to manage the account – e.g. power of attorney, or
• be paying less than £250 into a Young Savers account if you are not named on the account (the account holder or a named person on the account can pay in larger amounts), or
• an employee paying into a business or commercial account for your employer, using a pre-printed paying-in slip issued to the account holder.

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

Yes – however you must make sure that any new money you pay into your ISA does not go over the ISA allowance for that tax year. Any payments out need to be replaced before the 5th April of that year. The allowance for 2024/2025 is £20,000.

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 Amaze Direct on 0345 0808 500.

Call charges might apply – please check with your service provider.

You can close your account anytime by visiting your local store or by calling Amaze Direct on 0345 0808 500. Call charges might apply – please check with your service provider.

If there is a balance in the account then the funds will need to transferred out before the account can be closed.