Pitfall 1 when switching cash isa

Withdrawing and re-depositing burns the annual ISA allowance — the transfer route is the one that preserves the wrapper.

Pitfall 2 when switching cash isa

Some fixed-rate Cash ISAs charge an exit fee. Easy-access ones generally don’t.

Pitfall 3 when switching cash isa

Transfer times can spike near tax-year-end (early April).

Illustrative switching guide.Process information and reference data only. Not regulated by the FCA, not personal financial advice or a recommendation. Verify the current rate / fee on the provider’s site before acting.

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Switching guide · Cash ISA

How to switch your cash isa.

You’ve got a Cash ISA with one of the big high-street banks (Lloyds, Halifax, Barclays, NatWest), where rates typically sit well below the top of the market. What follows is illustrative — the sequence a typical switch goes through, and the parts the receiving provider handles for you.

The typical sequence.

01
Open a new Cash ISA at a higher-rate provider. The cash stays put for now — withdrawing it manually loses the ISA wrapper.
02
Ask the new provider to run a Cash ISA transfer. Most have an online form — usually around 5 minutes to fill in.
03
The new provider contacts the old one and pulls the money across. Typically 7–15 working days.
04
The new rate applies once the transfer settles.

Gotchas.

!Withdrawing and re-depositing burns the annual ISA allowance — the transfer route is the one that preserves the wrapper.
!Some fixed-rate Cash ISAs charge an exit fee. Easy-access ones generally don’t.
!Transfer times can spike near tax-year-end (early April).

Who Feefee compares.

Trading 2123.60% AER
Free S&S ISA — no platform, dealing or custody fee. Pays 3.8% on uninvested GBP cash (via QMMF — Qualifying Money Market Fund, NOT FSCS-protected as cash). Cash ISA standard 3.60% AER (BoE base − 0.15%); 12-month new-customer promo at 4.51% drops to standard after. SIPP now generally available and free of platform, custody and dealing fees (Trading 212 operates the pension itself since its Feb 2026 FCA authorisation — no operator/trustee fee); 0.15% FX applies on non-GBP trades. "Free" is funded by four less-visible levers: (1) 0.15% FX fee + an undisclosed FX spread on every non-GBP trade, (2) securities-lending revenue (~50/50 split with you, opt-out in settings), (3) net interest margin on uninvested QMMF cash (you get the QMMF yield; Trading 212 keeps the spread between underlying and what's passed on), and (4) CFD bid/ask spreads + overnight financing on the CFD side of the business — which is where most of Trading 212's £277m+ 2025 revenue actually came from. UK best-execution rules block a discretionary mark-up on Invest/ISA share trades, but execution quality is a real, hard-to-audit lever. Trading 212 publicly states no PFOF.
Chip3.75% AER
App-only, smooth UX, FSCS protected. Smart Cash ISA (successor product — the original Chip Cash ISA is closed to new customers): 3.75% AER standard, tracking BoE base − 0.06% gross, provided via Chip Financial (Investments) Ltd. New customers can get 4.55% incl. the 12-month 0.80% boost. Easy-access 3.20% standard.
Plum2.54% AER
Free Cash ISA tier: 2.54% standard (4.31% incl. 12-month bonus). Transfer-in promo rate 4.20% also boosted. S&S requires Plus subscription.
Santander (savings)2.00% AER
Easy Access ISA 2.00% AER (variable, 12-month issue). Easy Access Saver (Issue 31) 2.00% AER — also a 12-month issue, then converts to the lower-rate Everyday Saver.
Lloyds Bank (savings)0.75% AER
Branch-network bank — Cash ISA Saver 0.75% AER (£1–£24,999, 0.90% £25k+). Easy Saver 1.10–1.40% tiered. Substantial gap to challenger rates. FSCS deposit cover (£120,000 per eligible person from 1 Dec 2025) is SHARED with Halifax, Bank of Scotland and BM Savings — all on the Lloyds Banking Group authorisation. Don't double up across these brands expecting separate cover.
Halifax (savings)1.05% AER
Branch-network bank. ISA Saver Variable 1.05–1.20% tiered. Everyday Saver up to 1.00%. ISA Reward Bonus Saver 2.75% available as a higher tier. FSCS deposit cover (£120,000 per eligible person from 1 Dec 2025) SHARED with Lloyds / Bank of Scotland / BM Savings (same Lloyds Banking Group licence).
Barclays (savings)1.00% AER
Branch-network bank — Instant Cash ISA and Everyday Saver both 1.00% AER from 11 March 2026.
NatWest (savings)1.15% AER
Branch-network bank. Instant Access Cash ISA 1.15% (entry), 2.45% £25k+. Flexible Saver 1.35% mid-tier.
HSBC UK (savings)2.50% AER
Loyalty Cash ISA 2.50% (Premier 3.00%). Online Bonus Saver 1.05% AER standard (3.35% incl. no-withdrawal bonus — lost in any month a withdrawal is made).
Zopa Bank3.25% AER
App-only challenger bank. Cash ISA Access pots 3.25% AER standard; a 1-year Fixed Term ISA pays up to 4.50%. Easy-access Access pots 2.95% AER; notice pots pay 3.08–3.55%. Regular Saver promo 7.1% AER for 6 months, capped at £300/month deposit, and requires a Zopa Biscuit current account. Fixed-rate 1-year 4.55%. FSCS protected.
Atom Bank4.25% AER
App-only digital challenger. Instant Saver Reward 2.00% AER withdrawal rate (3.49% reward rate in months with no withdrawal — the drop applies only to the monthly interest period in which you withdraw). Fixed Saver 1-year 4.55%, 2-year 4.68%. Cash ISA 4.25% AER (unlimited access, not flexible). FSCS deposit cover £120k (from 1 Dec 2025).
Tandem Bank3.75% AER
Digital-first 'green' bank — savings money funds green mortgages and home-improvement loans. Instant Access 3.15% AER standard (3.40% incl. 12-month top-up, until 3 Sep 2026). Cash ISA 3.75% standard (4.00% incl. 12-month top-up). Fixed-rate 1-year 4.60%. FSCS deposit cover £120k (from 1 Dec 2025).
Cynergy Bank4.15% AER
Online-only bank. Online Easy Access 2.15% AER standard (4.15% incl. 2.00% bonus for the first 12 months). Online ISA 4.15% AER. Fixed-rate 1-year 4.35% (min £1,000). FSCS deposit cover £120k (from 1 Dec 2025).
OakNorth Bank2.75% AER
App-only challenger. Easy Access Tracker 3.50% (tracks Bank of England base rate minus 0.25 percentage points), Cash ISA 2.75%, Fixed 12-month 4.50% (24-month 4.55%). FSCS-protected.
Charter Savings Bank4.23% AER
Online savings specialist (part of Charter Court). Consistently among the higher easy-access rates Feefee tracks. Easy Access 4.21%, Cash ISA 4.23%, Fixed 1-year 4.71%. FSCS-protected.
Aldermore Bank4.20% AER
Specialist savings & lending challenger. Double Access Saver 3.75% (drops to 1.50% from the third withdrawal until the account anniversary), Cash ISA 4.20%, Fixed-rate 1-year 4.44%. FSCS-protected.
Coventry Building Society2.00% AER
Mainstream high-street building society. Easy Access Saver (8) 2.00% with unlimited access (the withdrawal-capped 5 Access Saver pays 3.50%), Easy Access ISA (12) 2.00% (the limited-access 4 Access ISA pays 4.25%), Regular Saver 4.00% (£500/month, 12-month term). The Triple Access Saver was withdrawn from sale. FSCS-protected.
Nationwide3.30% AER
Largest UK building society. Members benefit from a 6.50% AER Flex Regular Saver (£200/mo, 12-month term). Triple Access ISA 3.30% (drops to 1.05% after a fourth withdrawal in the year). Flex Instant Saver 2.30% — requires a Nationwide current account. FSCS-protected.
Other / not listed—
Not on the list? Pick this and tell Feefee what you're getting (rate or fee). We'll compare against the lowest-fee or highest-rate alternative we track.

Eligible switch alternatives showing provider, fee or rate, and notes.
Provider	Fee / Rate	Notes
Trading 212	3.60% AER	Free S&S ISA — no platform, dealing or custody fee. Pays 3.8% on uninvested GBP cash (via QMMF — Qualifying Money Market Fund, NOT FSCS-protected as cash). Cash ISA standard 3.60% AER (BoE base − 0.15%); 12-month new-customer promo at 4.51% drops to standard after. SIPP now generally available and free of platform, custody and dealing fees (Trading 212 operates the pension itself since its Feb 2026 FCA authorisation — no operator/trustee fee); 0.15% FX applies on non-GBP trades. "Free" is funded by four less-visible levers: (1) 0.15% FX fee + an undisclosed FX spread on every non-GBP trade, (2) securities-lending revenue (~50/50 split with you, opt-out in settings), (3) net interest margin on uninvested QMMF cash (you get the QMMF yield; Trading 212 keeps the spread between underlying and what's passed on), and (4) CFD bid/ask spreads + overnight financing on the CFD side of the business — which is where most of Trading 212's £277m+ 2025 revenue actually came from. UK best-execution rules block a discretionary mark-up on Invest/ISA share trades, but execution quality is a real, hard-to-audit lever. Trading 212 publicly states no PFOF.
Chip	3.75% AER	App-only, smooth UX, FSCS protected. Smart Cash ISA (successor product — the original Chip Cash ISA is closed to new customers): 3.75% AER standard, tracking BoE base − 0.06% gross, provided via Chip Financial (Investments) Ltd. New customers can get 4.55% incl. the 12-month 0.80% boost. Easy-access 3.20% standard.
Plum	2.54% AER	Free Cash ISA tier: 2.54% standard (4.31% incl. 12-month bonus). Transfer-in promo rate 4.20% also boosted. S&S requires Plus subscription.
Santander (savings)	2.00% AER	Easy Access ISA 2.00% AER (variable, 12-month issue). Easy Access Saver (Issue 31) 2.00% AER — also a 12-month issue, then converts to the lower-rate Everyday Saver.
Lloyds Bank (savings)	0.75% AER	Branch-network bank — Cash ISA Saver 0.75% AER (£1–£24,999, 0.90% £25k+). Easy Saver 1.10–1.40% tiered. Substantial gap to challenger rates. FSCS deposit cover (£120,000 per eligible person from 1 Dec 2025) is SHARED with Halifax, Bank of Scotland and BM Savings — all on the Lloyds Banking Group authorisation. Don't double up across these brands expecting separate cover.
Halifax (savings)	1.05% AER	Branch-network bank. ISA Saver Variable 1.05–1.20% tiered. Everyday Saver up to 1.00%. ISA Reward Bonus Saver 2.75% available as a higher tier. FSCS deposit cover (£120,000 per eligible person from 1 Dec 2025) SHARED with Lloyds / Bank of Scotland / BM Savings (same Lloyds Banking Group licence).
Barclays (savings)	1.00% AER	Branch-network bank — Instant Cash ISA and Everyday Saver both 1.00% AER from 11 March 2026.
NatWest (savings)	1.15% AER	Branch-network bank. Instant Access Cash ISA 1.15% (entry), 2.45% £25k+. Flexible Saver 1.35% mid-tier.
HSBC UK (savings)	2.50% AER	Loyalty Cash ISA 2.50% (Premier 3.00%). Online Bonus Saver 1.05% AER standard (3.35% incl. no-withdrawal bonus — lost in any month a withdrawal is made).
Zopa Bank	3.25% AER	App-only challenger bank. Cash ISA Access pots 3.25% AER standard; a 1-year Fixed Term ISA pays up to 4.50%. Easy-access Access pots 2.95% AER; notice pots pay 3.08–3.55%. Regular Saver promo 7.1% AER for 6 months, capped at £300/month deposit, and requires a Zopa Biscuit current account. Fixed-rate 1-year 4.55%. FSCS protected.
Atom Bank	4.25% AER	App-only digital challenger. Instant Saver Reward 2.00% AER withdrawal rate (3.49% reward rate in months with no withdrawal — the drop applies only to the monthly interest period in which you withdraw). Fixed Saver 1-year 4.55%, 2-year 4.68%. Cash ISA 4.25% AER (unlimited access, not flexible). FSCS deposit cover £120k (from 1 Dec 2025).
Tandem Bank	3.75% AER	Digital-first 'green' bank — savings money funds green mortgages and home-improvement loans. Instant Access 3.15% AER standard (3.40% incl. 12-month top-up, until 3 Sep 2026). Cash ISA 3.75% standard (4.00% incl. 12-month top-up). Fixed-rate 1-year 4.60%. FSCS deposit cover £120k (from 1 Dec 2025).
Cynergy Bank	4.15% AER	Online-only bank. Online Easy Access 2.15% AER standard (4.15% incl. 2.00% bonus for the first 12 months). Online ISA 4.15% AER. Fixed-rate 1-year 4.35% (min £1,000). FSCS deposit cover £120k (from 1 Dec 2025).
OakNorth Bank	2.75% AER	App-only challenger. Easy Access Tracker 3.50% (tracks Bank of England base rate minus 0.25 percentage points), Cash ISA 2.75%, Fixed 12-month 4.50% (24-month 4.55%). FSCS-protected.
Charter Savings Bank	4.23% AER	Online savings specialist (part of Charter Court). Consistently among the higher easy-access rates Feefee tracks. Easy Access 4.21%, Cash ISA 4.23%, Fixed 1-year 4.71%. FSCS-protected.
Aldermore Bank	4.20% AER	Specialist savings & lending challenger. Double Access Saver 3.75% (drops to 1.50% from the third withdrawal until the account anniversary), Cash ISA 4.20%, Fixed-rate 1-year 4.44%. FSCS-protected.
Coventry Building Society	2.00% AER	Mainstream high-street building society. Easy Access Saver (8) 2.00% with unlimited access (the withdrawal-capped 5 Access Saver pays 3.50%), Easy Access ISA (12) 2.00% (the limited-access 4 Access ISA pays 4.25%), Regular Saver 4.00% (£500/month, 12-month term). The Triple Access Saver was withdrawn from sale. FSCS-protected.
Nationwide	3.30% AER	Largest UK building society. Members benefit from a 6.50% AER Flex Regular Saver (£200/mo, 12-month term). Triple Access ISA 3.30% (drops to 1.05% after a fourth withdrawal in the year). Flex Instant Saver 2.30% — requires a Nationwide current account. FSCS-protected.
Other / not listed	—	Not on the list? Pick this and tell Feefee what you're getting (rate or fee). We'll compare against the lowest-fee or highest-rate alternative we track.

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