Tell me more
Tax efficient savings
Instant accounts
Fixed Term Savings
Guides
Useful Information
Existing RBS ISA customer?
Guides
Q. How do I credit my cash ISA?
- Branch - pay in cheques or cash at any RBS branch.
- Rapid Deposit machine - these can be found within many RBS branches and allow you to pay in cheques or cash (notes only) into your account quickly.
- Cash machines - over 750 RBS cash machines allow you to pay cheques or cash (not coins) into your account. Just fill in a paying-in slip and follow the instructions on the screen
- Online - once you've signed up to RBS Digital banking, you can transfer funds between your RBS accounts online instantly. You can also transfer funds between your cash ISA and an account in your name at another bank. This may take up to 3 working days, but in most cases will be instant.
- Phone – once you've signed up to Telephone banking, you can transfer funds between your RBS accounts. Please call us on 0845 724 2424 (calls may be recorded).
- Post - you can post cheques (not cash) straight to your RBS branch. Send them in an envelope with a completed paying-in slip. To find the address of your branch, please use our branch locator.
- Standing order – pay in regular amounts from another account (check with your Bank that the account you are debiting can have standing orders payable from it).
Q. How do I withdraw money from my Cash ISA?
A. Providing the rules of the ISA allow it, you can have full, instant access to your money without losing the tax benefits on the rest of your savings in the ISA.
However, any money withdrawn can only be re-deposited up to the maximum of your available subscription amount i.e. if you subscribed £5,760 into a cash ISA in 2013/14 and £500 is withdrawn, the £500 cannot be replaced.
- Branch - you can withdraw money over the counter at any of our branches. Find your local branch.
- Online - once you've signed up to RBS Digital banking, you can transfer funds between your RBS accounts online instantly. You can also transfer funds between your cash ISA and an account in your name at another bank. This may take up to 3 working days, but in most cases will be instant.
- Phone – once you've signed up to Telephone banking, you can transfer funds between your RBS accounts instantly.
Q. Are there any penalties?
A. No. You can withdraw your money or close your account at any time. We’ll simply pay interest on the daily cleared balance.
However if you have an old 60 day ISA account, there will be a penalty if adequate notice is not given. You will lose 60 days’ interest on the sum withdrawn. For more information please see the product terms and conditions (PDF, 556KB).
Q. I am registered with Digital Banking, how do I check what my cash ISA limit is?
A. You can check how much you can pay/have paid in to your cash ISA account on the 'View Account Details' screen.
You can access that screen by selecting your cash ISA account on the 'Accounts Summary' and then selecting the 'View Account Details' button, near the bottom of the screen.
If you have not used any of your cash ISA allowance for the tax year, it will show the 'Deposits allowed this year'.
If you have used some, but not all, of your cash ISA allowance for the tax year, it will show the 'Deposits allowed this year' and 'Deposits so far this year'.
If you have used all of your cash ISA allowance for the tax year, it will show the 'Deposits so far this year'.
Setting up a Standing Order
Setting up a standing order to your cash ISA is a good way to regularly save money. You tell us to pay a fixed amount from another account at regular intervals and watch your savings grow faster.
To arrange a standing order from a RBS account, just complete a standing order form which you can pick up from any RBS branch or download. If you are arranging a standing order from another bank, please contact them for a form directly.
You can also set up standing order payments from your RBS account through telephone or online banking.
We recommend avoiding dates between 2nd and 5th of the month to allow for possible delays at the end of the tax year.
Re-activating your ISA
If you haven’t paid money into your RBS ISA for over a year, it needs reactivating
Q. Why does my Cash ISA need re-activating?
HM Revenue & Customs ISA regulations say that if you do not make any deposits for a complete tax year you’ll need to re-activate your account to make further deposits. However, your account continues to receive gross interest and you can still make withdrawals. Completing this reactivation form will let you pay money into your cash ISA again – the more you save, the higher the interest you’ll earn. Simply take your completed form into your local branch or post it to: Central Tax Unit, 9th Floor, 1 Hardman Boulevard, Manchester M3 3AQ.
Converting your cash ISA
If you have another cash ISA with us and want to convert it to an Instant Access Cash ISA or e-ISA.
Do you have a 60-Day ISA or Cash ISA – TESSA funds account?
If the answer is yes, would you like to convert your 60-Day or Cash ISA – TESSA funds account to our Instant Access ISA or e-ISA?
Simply complete the cash ISA conversion form and drop it into your local branch or post it to Central Tax Unit, 9th Floor, 1 Hardman Boulevard, Manchester, M3 3AQ.
Transferring an ISA into RBS?
Please use the links below to check the final dates for paying and transferring money into your Fixed Rate ISA:
Q. How do I credit my Fixed Rate ISA?
A. You can pay into your Fixed Rate ISA by cheque, cash or transfer-in from other financial institutions via any RBS branch within the specified date.
Q. Is there a cooling off period for Fixed Rate ISA?
A. Yes the Fixed Rate ISA will be subject to a 14 day cooling off period from the day you open their account or from the day they receive the documentation relating to Fixed Rate ISA (whichever is later), in which if the customer changes their mind they are entitled to close the account without any penalty.
Q. How do I withdraw money from my Fixed Rate ISA?
A. You would need to close the Fixed Rate ISA account first by filling out an account closure form. The account can then be converted to a Cash ISA and funds can then be withdrawn via the standard processes. This enables the remaining funds after the withdrawal to retain their tax-free status. Please remember that you will be charged for closing the Fixed Rate ISA before the maturity date.
Q. Will I get a Certificate of Deposit after I have subscribed into a Fixed Rate ISA?
A. Yes, you will be sent a Certificate of Deposit (as stated in the Information Sheet).
Please note that there is a limited period that you can transfer into a Fixed Rate ISA. You should have received an Information Sheet which will provide you with information about the key dates which apply to you. For further information about the key dates applicable to you, please use the links below:
Q. Transferring an ISA into RBS?
A. HM Revenue & Customs (HMRC) rules state that all ISA providers MUST allow Transfers out. You can transfer funds into our Fixed Rate ISA. Your existing ISA provider has a maximum of 5 working
days, or to the end of any required notice period, after receiving your transfer request to send your ISA monies to us. This period is specified within the HMRC ISA rules. This period may be longer if your existing ISA has a notice period / maturity date and you do not waive the notice. Please note, you must have already have a Fixed Rate ISA account open with us first or arrange to open one. This can be done easily via any of our branches, internet or by phone.
If you'd like more information on how to transfer your ISA, here is a simple guide provided by the British Bankers Association (PDF, 354KB).
Existing customers: Complete a cash ISA transfer form and take this to any branch or post to Central Tax, 9th Floor, 1 Hardman Boulevard, Manchester M3 3AQ.
Q. How much can I transfer into RBS?
A. You can choose to transfer either:
- the whole balance or
- all / some previous year subscriptions and / or
- all current year subscriptions
Q. Can I transfer money in from more than one bank or building society?
A. Yes. Simply fill out a cash ISA transfer form for each one you want to transfer. Please note, you must have already have a Fixed Rate ISA account open with us first or arrange to open one. This can be done easily via any of our branches, internet or by phone.
Cash ISAs are classed as tax free which means that interest payable is exempt from UK income tax.
