Opening and Managing a Cash ISA

Opening a Cash ISA

You can open a Cash ISA with us in a number of ways, depending on the account you choose.

• Open in branch, by phone or by post
• Selected Cash ISAs can also be opened online or via The Cambridge Money App.
• Minimum opening deposit varies depending on the Cash ISA you choose.
• You can fund your account with a new deposit or by transferring ISA funds from another ISA provider or from an existing ISA with The Cambridge.

 

Before you apply

Before opening a Cambridge Cash ISA, please read: 

• The product specific terms and conditions for your chosen ISA 
• our Terms and Conditions for Savers booklet and
• ISA booklet

These contain important information about your account and how it operates. For new customers, under regulations for prevention and detection of financial crime, we’ll need to verify your name and address. We use an electronic verification system to do this, however in certain cases we’ll need further proof of your identity.

Products are subject to availability and may be withdrawn without notice.

 

Paying into your ISA

You can continue your Cash ISA each tax year without needing to re-apply for a new account, subject to product terms and conditions. This means that you won't be able to subscribe to another Cash ISA with The Cambridge during the same tax year.

With our Cash ISAs, you can pay money in by:

• cash
• cheque at any of our branches,
• debit card
• transferring funds from an existing Cambridge Building Society account
• transferring funds from another bank/building society account.
• regular deposits - call the team on 0345 601 3344 or pop into branch to set this up

 

Managing your ISA

All our Cash ISAs can be managed in branch, by phone or by post.

You can also manage your Cash ISA online or via our app, if you're registered for online services.

 

Withdrawing from your Cash ISA

You can make withdrawals from your Cash ISA in one of the following ways:

In branch - visit one of our branches with your passbook.

    •   Up to £500 in cash over the counter
    •   Up to £250,000 by cheque

Transfer to your nominated bank account – this can be arranged:

    •  in branch
    •  by telephone
    •  online via secure message

Withdrawal options, limits and conditions vary depending on your chosen ISA. Selected accounts may also allow electronic withdrawals to your nominated account. Please refer to the product terms and conditions for full details.

For larger withdrawals - please contact us in advance. We'll discuss the available payment options and whether any notice is required.

 

You have 14 days to change your mind

If in the first 14 days of opening your account, you decide that the account you’ve chosen isn’t right for you, you can have your money back – without penalty. We’ll arrange to close the account and return your money or to switch your funds to another of our savings accounts.

We’ll pay you interest on the balance of your account up to the day before closure at the appropriate ISA rate. Your account won’t be classed as an ISA.

 

Financial Services Compensation Scheme

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a building society is unable to meet its financial obligations.

For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please ask at your nearest branch, email us at savings@cambridgebs.co.uk, refer to the FSCS website or call the FSCS on 020 7741 4100 or 0800 678 1100. Please note that only compensation queries should be directed to the FSCS.