Easy Access Cash ISA
Our ISA has complete flexibility and lets you replace any withdrawals without affecting your £20,000 tax-free allowance.
Same-day withdrawals and deposits.
Earn interest monthly, completely tax-free.
Start saving from £10,000 - or £1 if you’re an existing client.
Our Easy Access Cash ISA rate
4.76
%
£4.5 Billion
Full control of your savings, with flexible ISA benefits
Earn 4.76% AER (variable), tax-free
We continuously monitor our rates to keep them competitive and help your money grow.
No hidden penalties, easy withdrawals
Some providers reduce your interest after taking money out multiple times - we never do. Access your savings anytime, with instant transfers to your linked account, and no penalties.
Open your ISA in minutes
After downloading our app, all you need to do is provide some personal details and National Insurance number.
Transfers in - coming soon
Transfers from existing ISAs aren’t available yet, but we’re working on it. By early 2025, you’ll be able to transfer your funds easily, keeping all your savings in one place.
How our Easy Access Cash ISA works
You can open a Monument ISA with £10,000 as a new client, or from £1 if you're already banking with us.
Add money
Deposit your savings into your Easy Access Cash ISA and earn monthly interest without paying tax on it.
Withdraw money anytime
You can withdraw from your ISA anytime without penalty.
Replace money you withdrew in the same tax year
Top up money without affecting your total £20,000 tax-free allowance.
Keep your tax-free allowance
Once you've put the money back, your savings continue to grow, and you keep your tax-free allowance.
Your money is safe with us. Eligible savings are protected up to £85,000 by the Financial Service Compensation Scheme (FSCS).
Exceptional service
isn’t our aim.
It’s our guarantee
Our app is easy to use, but our client services team is always available to help if you need it.
Enjoy an effortless experience
Open an account in minutes then deposit funds straight away.
Monument clients love our app and rate us ”Excellent” on Trustpilot.
Always speak to a person
Unlike other banks, we never use chatbots.
Speak to our UK-based team instantly in the app or pick up the phone — we answer 90% of calls in under 20 seconds.
Be rewarded for your loyalty
If you’re a Fixed Term Account saver who chooses to stay with us, we’ll thank you with a special rate.
Start saving now
1
Download the app
Get the app from the Apple App Store or Google Play.
2
Choose the right Savings Account for you
Provide us with your personal details so we can securely open your account.
3
Add money
Set up your Linked Account and make a deposit to start earning interest immediately.
What our clients say
Who is Monument?
Monument is a fully regulated, UK bank built to help you manage, grow and enjoy your wealth.
More than 50,000 clients save with Monument and benefit from our range of Lifestyle services and UK-based client servicing team.
Your money is protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).
What is a Cash ISA?
A Cash ISA is a savings account where you can earn tax-free interest. If you are 18 years old or over and a UK resident, you can apply and start to save up to the £20,000 ISA allowance (set by HMRC) each tax year without paying tax on the interest earned.
Your annual ISA allowance is the total you can pay each tax year into any ISAs you hold, including those with other ISA providers.
Is our Monument Easy Access Cash ISA flexible?
Yes, our Easy Access Cash ISA is flexible which means you can withdraw and replace any amount in the same tax year without affecting your annual ISA allowance.
What is the minimum balance?
If you only have a Monument Easy Access Cash ISA, the minimum balance is £10,000.
If you hold any additional Monument savings account(s), you must have a minimum total balance of £25,000 across all Monument savings accounts you hold. The balance in your Easy Access Cash ISA will count towards the total balance.
For example, if you have a Notice Account and an Easy Access Cash ISA with us you must hold a minimum of £25,000 in total across both accounts. This can be any combination, for example £10,000 in your Easy Access Cash ISA and £15,000 in your Notice Account, or £5,000 in your Easy Access Cash ISA and £20,000 in your Notice Account.
How do I add money to my Easy Access Cash ISA account?
After opening your Easy Access Cash ISA account, you will be given a sort code and an account number which you can use to make electronic payments into your Monument account from your Linked Account.
Your Linked Account is a personal UK* bank account in your name which you’ll provide when you open your account. In certain circumstances, we may be able to accept an account held with a UK* electronic money institution (known as an e-money account). Any funds received from another bank account will be returned.
You can also move money into your Easy Access Cash ISA account from an eligible existing Monument savings account if you have one, subject to the terms of that account.
We currently don’t accept transfers in from other ISA providers.
*UK means England, Wales, Scotland and Northern Ireland and does not include the Channel Islands and Isle of Man.
Account name
Easy Access Cash ISA
What is the interest rate?
4.66% gross / 4.76% AER (variable).
Rate effective 21 November 2024.
Interest is calculated daily and paid monthly to this account.
AER stands for Annual Equivalent Rate. This shows you what the interest rate would be if interest was paid and compounded once each year.
Gross is the rate of interest payable before income tax is deducted. As this is an ISA, interest earned is tax-free.
Can Monument change the interest rate?
Yes, the interest rate is variable and may change.
We can change the interest rate at our discretion for any of the reasons detailed in Section 5 of our Easy Access Cash ISA Terms.
We will contact you if your rate is going up or going down. We will give you at least 14 days’ notice in advance of any rate reduction. If we increase the rate, we will apply it immediately and we will inform you of the increase within 30 days of it being made.
What would the estimated balance be after 12 months based on a £1,000 or £10,000 deposit?
£1,047.60 at an interest rate of 4.76% AER (variable).
£10,476.00 at an interest rate of 4.76% AER (variable).
For the purposes of this calculations we assume that:
- You make a deposit of £1,000 or £10,000 on the account opening date.
- You make no additional deposits or withdrawals.
- The interest rate remains the same for 12 months.
- The interest is paid into your Easy Access Cash ISA.
The above is for illustrative purposes only and does not take into account any individual circumstances.
How do I open and manage my account?
You can open and manage your account through the Monument mobile app.
Eligibility:
- You must be aged 18 or over.
- You must be a UK resident.
- This account can only be opened in one person’s name.
- You must have a personal UK bank account that allows transfers to be made to and from your Monument Easy Access Cash ISA.
- You must have not already used up your total annual ISA allowance of £20,000 this tax year.
Minimum and Maximum Balance:
- If you only have an Easy Access Cash ISA with Monument, the minimum balance is £10,000.
- If you hold any additional Monument savings account(s), you must have a minimum total balance of £25,000 across all Monument savings accounts you hold. The balance in your Easy Access Cash ISA will count towards the total balance.
- You can deposit up to a maximum of £20,000 per tax year in this account, reflecting the annual ISA allowance set by HM Revenue & Customs.
- £2,000,000 maximum total balance across all Monument savings accounts you hold including this one.
Making Deposits:
- Deposits can only be made by electronic payment from the personal UK bank account linked to your Easy Access Cash ISA (your Linked Account) or from another Monument Savings Account in your name (subject to the terms of that account).
- Any funds received from another account that is not your Linked Account will be returned.
- You need to make your first payment into your Easy Access Cash ISA within 30 days from the date your account is opened. If you don’t, your Easy Access Cash ISA will be closed.
- We do not accept deposits in cash or cheque.
- This account doesn’t currently accept transfers of existing ISA money from other providers.
Can I withdraw money?
Yes, you have 24/7 access to your savings via the Monument mobile app.
Monument Easy Access Cash ISA is flexible, which means you can withdraw and replace any amount in the same tax year without affecting your annual ISA allowance.
An unlimited number of withdrawals can be made through the mobile app. For your security, higher value withdrawals may require additional verification checks.
Funds withdrawn can be paid to your Linked Account or another Monument savings account in your name (subject to the terms of that account).
If you want to move some or all of your ISA money to another ISA provider and keep the tax-free benefits on the money transferred, you’ll need to speak to your new provider to start this process.
Additional information
ISAs are a savings scheme operated by HM Revenue & Customs. Interest on ISAs is tax-free, providing the account is operated in line with ISA regulations.
If you change your mind you can close this ISA within 14 days of opening. Any funds from an ISA closed in this way won’t count towards your ISA allowance.
Please note: The information provided here is a summary of the key features of our Easy Access Cash ISA account. Further information can be found in our Easy Access Cash ISA Terms.
Not the right account for you?
If you’re looking for a regular savings account, learn more about our Easy Access Savings, Fixed Term Deposits or Notice Accounts.
