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Closing our cash ISAs frequently asked questions

We're going to stop being an ISA manager on 25 July 2024 and will no longer manage cash ISA's. Here are some FAQs (frequently asked questions) that may be helpful.

We're going to stop being an ISA manager on 25 July 2024, so you need to decide what you want to do.

  • You can transfer your ISA to another provider.
  • You can withdraw the money. Any money withdrawn from the ISA will lose it's tax-free status and if repaid back into an ISA, will count towards your current tax year ISA limit.

You might be eligible for an additional permitted subscription (APS) limit and be able to transfer the APS limit to another provider.

We're giving 90 days' notice, so you have plenty of time to think about what's right for you.

For accounts still open with us on 25 July 2024, we'll change it to a Term Maturity Account. If that happens, it will stop being a cash ISA and the money will lose its tax-free status. Where the spouse or civil partner of a deceased ISA account holder hasn't transferred their APS limit, the ability to do so may also be lost.

Your cash ISA won't automatically be transferred to another ISA manager. If you want to keep the money in an ISA wrapper, you'll need to transfer it to another ISA provider. We won't charge you for doing this, even if your account has a fixed term.

To do this, you'll need to contact your new ISA manager and ask them to arrange a transfer. You'll usually need to fill out an ISA transfer form. Please make sure that we receive your transfer instruction from your new ISA provider no later than 25 June 2024. HMRC advise that a transfer can take up to 30 days, so please make sure you leave enough time for the transfer to take place. You can find out more about the process and rules at

If you withdraw the money out of your account, it will lose its tax-free status. If you then decide to pay it back into an ISA, it will be treated as a new deposit, which means it will count towards your current tax year ISA limit.

If an account holder is deceased, their spouse or civil partner may be eligible for an additional ISA allowance. This is called an additional permitted subscription (APS) limit. You can find more information on APS limits at

APS Value Request Form

Even though the cash ISA with us is closed, if you're the spouse or civil partner of the deceased account holder and you haven't transferred out the APS limit, you will remain entitled to transfer it until we stop being an ISA manager. If you don't transfer the APS limit before we stop being an ISA manager, you may lose that limit. 

If you want to transfer your APS limit, you'll need to contact your chosen ISA provider who will arrange the transfer of the APS limit on your behalf.

We're closing your account under section 17 of our terms and conditions 'Closing your account or ending this agreement'. This means we can close an account if we give you at least 2 months' notice before we do it.

We're sending all impacted customers an email or letter. We'll send an e-mail in the first instance and a letter where we have no active e-mail address.

To support you with the change, we're sending reminders of when we're going to stop being an ISA manager and the actions you need to take.

Cater Allen is part of the Santander Group. Although we'll no longer offer ISA accounts, you can visit their website to see the ISA products available at Santander and how to transfer an existing ISA to them. If you decide to open an ISA with Santander, once its opened, you'll still need to fill out an ISA transfer form. This can be found on their website. You'll need to complete your personal details, including National Insurance number and details of your Cater Allen ISA account. These can be found on Internet Banking or on your account statement.

If you're the spouse or civil partner of a deceased customer, Santander does offer an inheritance ISA, so any APS limit could be transferred to them. Visit their website to find out more. Once you've opened the inheritance ISA in a Santander branch, you'll need to fill out an APS transfer form.

This is an instant access account. You can take the full balance of your money out at any time without charge. You can't make a partial withdrawal, or pay more money in.

Yes, your account number and sort code will stay the same. So will your security details.

When an ISA manager decides to stop managing ISAs, under HMRC regulations they must confirm this to their ISA customers and include certain required information.

If you need any more help, please call us on 0800 092 3300.