Cash ISA

All topics ISA & GIA Cash ISA Withdrawing from a Cash ISA

Withdrawing from a Cash ISA

You can request a withdrawal from your Cash ISA/Open Access Cash ISA at any time in Settings > Withdraw. If you make a full withdrawal, we’ll prepay any interest you have earned to date.

Note that only completed deposits will be available for withdrawal. You can check the status of any in-flight deposits in Wealth > Select account > Activity.

It’s also worth noting that if your balance dips below £500, a lower interest rate of 0.75% AER (variable) will apply. You’ll earn the higher rate again once your balance increases to £500 or more.

For the Cash ISA only, if you withdraw four or more times within each 12-month period from the date of opening your Cash ISA, you’ll receive the lower rate for the rest of that period. The number of withdrawals you can make without impacting your rate will reset yearly on the date you opened your Cash ISA.

Moneybox does not currently offer a flexible ISA, so ISA withdrawals do not reset your £20,000 contribution allowance for the tax year.

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It's important you know

Capital at risk. All investing should be for the longer term. The value of your investments can go up and down, and you may get back less than you invest. Tax treatment depends on individual circumstances and may be subject to change in the future.

A 25% government penalty applies if you withdraw money from a Lifetime ISA for any reason other than buying your first home (up to £450,000) or for retirement, and you may get back less than you paid into your Lifetime ISA.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Payments you make into your pension won’t be accessible until the minimum pension age (currently 55, increasing to age 57 from 2028). Tax treatment depends on individual circumstances and may be subject to change in the future.

For Business Saver: T&Cs apply. Max one withdrawal per day.

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