Who is this suitable for?
- Clients who want to earn tax-free interest
- Clients who are happy to use their account online or by phone
- Clients who have not invested in a cash ISA in the 2018/19 tax year
Who is this not suitable for?
- Clients who want to invest their full allowance in a stocks and shares ISA and/or an innovative finance ISA
- Clients who prefer to use their account at a branch or by post
- Clients who have invested or plan to invest in a cash ISA with another provider this tax year
- Clients who want to transfer in current and previous years’ ISA allowances
- Clients who want a flexible ISA
Before your clients apply to invest, please ask them to read the summary box and the brochure, including the terms and conditions.
FAQs about Direct ISA
No, we do not currently allow transfers into our Direct ISA from other ISA providers. As NS&I is both a government department and an Executive Agency of the Chancellor we have to balance the needs of our savers, taxpayers and the broader financial services market. One of the ways we do this is by making sure we operate as efficiently as possible. ISA transfers involved a manual process, and allowing transfers in would increase the cost to run these accounts.
We keep our product range under constant review to ensure they meet the needs of savers and will be reviewing the plans for the Lifetime ISA over the coming months.
How can my client’s spouse or civil partner apply for an NS&I Direct ISA inherited allowance account?
A client whose spouse or civil partner held an ISA and died on or after 3 December 2014 will inherit an additional ISA allowance equal to the total amount the deceased held in their ISA at the date of death.
You can download and print the Direct ISA inherited allowance application form from our website nsandi-adviser.com, or call us and we’ll send you one. Your client should complete and sign the form and post it to us with a certified copy of their marriage or civil partnership certificate.
We consider this unlikely at this time given our unique 100% security guarantee. However we keep our product range under constant review to ensure they meet the needs of savers and will be reviewing the plans for ISAs over the coming months.