Frequently asked questions

Banking Panel

How many banks and building societies do you have on your panel?

We partner with 50 banks and building societies, including small challenger banks with competitive rates and large high street banks with strong credit ratings.

Do you have any Sharia-compliant banks/building societies?

Yes, we have a few Sharia-compliant banks on our panel.

Do you have any ethical banks?

Yes, we have ethical banks on our panel.

Are all your banks/building societies covered under the FSCS (Financial Services Compensation Scheme) scheme?

All our banks and building societies are covered under the FSCS scheme up to £85,000 per depositor, except for a Guernsey-based building society, which is covered under the Guernsey Banking Deposit Compensation Scheme (up to £50,000 per individual).

Does FSCS protection apply to all accounts you open?

All accounts offered through Insignis are covered by the FSCS or equivalent depositor protection coverage.

Do any of your banks/building societies share the same banking license?

Most banks and building societies operate under their own banking license.

Please note RateSetter by Metro Bank operates under Metro Bank’s deposit-taking license, with combined FSCS protection up to £85,000 per UK depositor.

Do you have the credit ratings for your banks/building societies?

We have partnered with Fitch Ratings to give clients, on request, sight of the credit ratings of the institutions on our banking panels.

What due diligence do you do on your banks/building societies?

All institutions are authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) in the UK, appearing on the Bank of England’s list of authorised banks and classed as dual-regulated deposit-takers.

Can banks contact clients directly?

All our banks and building societies have agreed that they will not contact our clients to avoid any cross selling.

Opening An Account

Who can open an Insignis account?

To open an account, all the beneficiaries must be:

• Over 18 years old (unless in the case of a trust)
• UK citizens
• Permanent UK residents (residency permit will be required where the client is not a UK citizen)
• UK incorporated legal entities or arrangements
• UK tax-payers

Please note we cannot open accounts for any individuals living outside the UK or US Persons submitting tax returns to the US Inland Revenue Service (IRS).

Do you only offer individual and joint accounts?

We offer over 26 client types, including corporates, charities, trusts, power of attorney, court of protection, SIPPs, SSASs, and more.

What documents are required to open an account?

We require appropriate verification of identity and address for personal customers. For legal entities or arrangements, we need identification and verification of beneficial owners, controlling parties, and business activities. Evidence of the source of funds and assessment of source of wealth are also necessary. Additional information or documentation may be required to meet regulatory requirements.

Do I have to change my current day-to-day banking provider?

No, you do not need to change your current daily banking relationships, unless you have accounts with a provider not on appearing on the Bank of England’s list of authorised banks.

You can deposit and place surplus on our platform while keeping day-to-day transactions with your existing banking provider.

Do you offer accounts in other currencies?

We offer US dollar and Euro accounts across our individual, joint, corporate, charity and trust accounts.

Do you accept paper application forms?

We accept paper application forms, although processing may take longer to process.

Do you conduct anti-money laundering checks on your clients?

We conduct anti-money laundering checks on all clients as required by banks the law and regulations that apply to us.

How secure is client data?

Client data, including personal and organisational information is encrypted using proprietary encryption methods. All Personal data is encrypted when data is at rest and access is only permitted to authorised personnel.

Access to the Cash Management Platform is secured using Strong Customer Authentication (SCA username, password, and PIN code sent to registered mobile).

How long does it take for funds to appear in the Insignis Hub account?

Funds can take up to one business day to appear in the Insignis Hub account, provided they come from the client’s linked account with the correct reference. Clients receive an email notification once the funds are available to be placed.

How many people can have access to the corporate account?

You can have as many people as you would like with ‘view only’ access on the account and these individuals can be added once your Insignis account is opened. In addition, when completing your application, you can choose to have either one (single authority) or two (dual authority) on the account. This/these individual/s will be responsible for adding, moving, and withdrawing funds from the Insignis platform.

Can I open an account for a holding company?

You can open an Insignis account for a holding company as well as trading companies.

Can I open multiple corporate accounts?

You can open multiple Insignis corporate accounts for your different businesses, however, you will need to have separate email addresses for each account.

Do you only offer corporate accounts?

We offer multiple account types, including, but not limited to, individual, joint, charity, trust, and pension accounts. Please get in touch with info@insigniscash.com if you would like to open a second account.

Fees

Do you charge transaction fees or a sign-up fee?

Our only charge is the annual account service fee, which is based on the total deposit, which is due monthly in arrears. There are no other fees for the Insignis service.

How do you take your fee?

Once a client deposits funds into their Hub account, we set aside the annual account service fee and draw down monthly payments in arrears from this fee reserve account. We charge a minimum of one quarter of the fees, after which fees are charged pro rata. While the funds are in the fee reserve, they remain in the client’s name. There are no other fees for the Insignis service.

Do you charge the banks or building societies that offer products on the Insignis platform?

We don’t charge the banks or building societies that offer products on the Insignis platform, meaning the client receives the full interest rate that the bank is offering. The only fee for the Insignis service is out annual account service fee, which is based on your total deposit.

Account Set-up

When will a client be able to deposit their funds?

Once the application is accepted account is opened, the client and, if applicable, the adviser receives a welcome email informing them that the account is now open and operational with all the information needed to deposit the funds.

How can clients send across their deposit?

Funds can be paid into the Insignis Hub Account via bank transfer or cheque. Bank details can be found on the Insignis platform under the ‘Action’ menu ‘Add Funds’ option.

It is a large deposit; does it need to be sent in one go?

Clients can add funds to the Insignis Hub account anytime, but how much you can send in one go may be determined by any limits set by your bank. Insignis applies no limit on the amount.

Do clients have to deposit funds within a certain period of the account opening?

There is no time limit to deposit the funds.

Can clients make additional deposits into their account?

There is no limit to the amount of cash that Insignis can manage for you. Many clients see the interest returns on their initial deposit and then choose to increase their funds in the service.

Do clients need to hold a minimum amount in their Insignis account to keep it open?

There is no minimum to keep an account open.

How long does it take for funds to appear in the Insignis Hub account?

Can clients send funds from their Insignis account to any bank account?

For security reasons, funds can only be withdrawn back to the linked account; they cannot be sent to other accounts or third parties. In exceptional circumstances, we may allow funds to be sent to authorised third parties, such as in cases of bereavement or customers in certain vulnerable circumstances, with the relevant legal documentation.

What is the linked account and can clients have more than one linked account?

The linked account is the account to which funds are sent back when clients request a withdrawal and for security reasons, clients can only have one linked account at the moment.

What reporting do you offer?

On the Insignis platform, clients can generate three reports at any time:

• Portfolio Summary: an overview of all the funds currently on our platform.
• Transaction History: lists all movements on the account, for any period, including details of charges made.
• Interest Received: summarises all the interest received across all the products in the Portfolio.

What happens to clients’ deposits if Insignis ceases to trade?

Clients’ funds are securely held by the relevant financial institutions, not by Insignis. Funds would be retained by the banks and building societies until maturity (if applicable), when the funds will be returned to the linked account.

Placing Funds

What length terms are the accounts you offer?

We offer a wide range of account terms, including Easy Access, Notice Accounts, and Fixed Term Deposits up to 5 years.

Are clients automatically eligible for any new banks/building societies that join the panel?

Clients are eligible for any new banks and building societies joining our panel without the need for further documentation, dependent on client type.

How long does it take for funds to appear in the different spoke accounts?

Funds are available by close of the next business day, to move from the Insignis Hub account to any spoke account.

Do clients get confirmation from the banks/building societies that the funds are with them?

Once funds have been placed into a spoke account, the account will automatically move from “Pending” to “My deposit” view on the platform.

Who is the beneficial owner of the funds while they are placed with the banks/building societies?

The client always stays the beneficial owner of the funds throughout the process. The funds never touch Insignis.

How is interest accrued?

Interest is accrued according to the terms of the chosen spoke account, which can be monthly, quarterly, annually, or on the anniversary.

Can clients set up a standing order to have interest paid out to their linked account each month?

Clients cannot set up a standing order to have interest paid out to their linked account each month as the interest accrued varies depending on the spoke accounts selected.

How do clients know if there are better rates available?

Clients can log into the Insignis Platform and view all available rates across banks and building societies at any point.

How do clients know what rates are available to them?

Clients can log into the Insignis Platform and see all the rates available to them across banks and building societies at any point.

Can clients break their accounts early?

Our deposit takers may allow accounts to be broken early in cases of bereavement, on provision of the relevant legal documentation. Other than bereavement, they will consider breakage requests where valid reasons may include customers in vulnerable circumstances (e.g., terminal illness) or sometimes cases of extreme financial hardship. Deposit takers review all breakage requests on a case-by-case basis. If the conditions are not met, notice must be served or maturity reached, for clients to access their funds.

How long does it take for funds to return to the linked bank account following a withdrawal request?

When clients request a withdrawal from the Hub account, funds will be returned to their linked account by close of the next business day.

How does dual authority work on the Insignis platform?

Insignis allows dual authorisation on transactions which means one individual requests a transaction (movement or withdrawal of funds) and a second individual approves the transaction. The approver will receive an email notification when a transaction is requested.

Access Rights

Who handles moving funds within the Insignis account?

Clients are responsible for moving funds within their Insignis account. They can do this easily on the Insignis Platform or authorise their Adviser to transfer funds on their behalf. Insignis can only move funds with prior permission from clients.

Can I move funds on my client’s behalf?

As an Adviser, you can transact on behalf of your client if you have been authorised by your clients on the application form. Clients can also transact themselves by contacting our Client Services team.

Can I view my client’s Insignis account?

As an Adviser, you can view your client’s account through the Insignis Platform if you have been authorised by your clients on the application form.

CASH ISAs: About ISAs

What is an Individual Savings Account (ISA)?

An ISA is a tax-efficient way to save or invest. Any interest, income, or gains earned within an ISA are completely tax-free.

What types of ISAs are there?

Currently there are five types of ISA:
1. Cash ISA - a tax-free savings account offering interest on cash deposits. Stocks and Shares ISA - allows a holder to invest in assets such as stocks, bonds, funds etc. and obtain tax-free returns.

2. Innovative Finance ISA – allows a holder to earn tax-free interest by lending money through peer-to-peer platforms or crowdfunding investments.

3. Lifetime ISA - designed for people aged 18–39, a LISA allows an individual to subscribe up to £4,000 per year towards the purchase of a first home or retirement; a 25% government bonus is added annually. Funds subscribed can be held in cash or invested.

4. Junior ISA - a long-term, tax-free savings or investment account for children under 18, with a £9,000 annual limit; a JISA converts to an adult ISA when the child in whose name it was established turns 18.

What type of ISA does Insignis offer?

Insignis offers a cash ISA, where all interest earned is tax-free.

The Insignis cash ISA is not a flexible ISA, i.e., if you withdraw and replace money within the same tax year, the replacement will be considered a new subscription and so will count towards your annual ISA allowance.

Can more than one ISA be paid into in the same tax year?

Yes. HMRC rules allow contributions to more than one ISA in a single tax year; these may be ISAs of different types or multiple ISAs of the same type (e.g. two cash ISAs). The exception is the lifetime ISA; subscription can only be made to one such ISA in a single tax year.

However many ISAs you contribute to in a tax year, it is your responsibility to ensure the total amount you subscribe does not exceed the annual allowance for that year.

What is the annual ISA allowance and how does it work?

The ISA allowance for the current tax year is £20,000. This can be split across any combination of ISA types.

The lifetime ISA has its own limit of £4,000 per tax year, which counts towards the overall £20,000 ISA allowance.

Does the ISA allowance affect my Personal Savings Allowance?

No. Interest earned in an ISA is tax-free and does not count towards the Personal Savings Allowance.

When does the ISA allowance reset?

The ISA allowance resets at the start of each tax year, which begins on 6 April and ends on 5 April the following year.

Can unused ISA allowance be carried over?

No. Any unused ISA allowance cannot be carried over to the next tax year. Once the tax year ends, any remaining allowance is lost.

CASH ISAs: Opening the cash ISA

Who can open an Insignis cash ISA?

To open an account, you must be:
- Aged 18 or over; and
- Resident in the UK for tax purposes; or
- Working as a Crown employee serving overseas and paid out of the public revenue of the UK (this will typically apply to individuals who are serving members of the armed forces or diplomats), or be married to, or in a civil partnership with, a person who performs such duties

Please note we cannot open accounts for either an individual living outside the UK or a US Person submitting tax returns to the US Inland Revenue Service (IRS).

Is there a minimum subscription amount for the Insignis cash ISA?

Yes, a minimum of £10,000 is required.

Is the Insignis cash ISA open to both new and existing clients?

Yes, both new and existing clients are able to open an ISA if they are eligible (please see ‘Who can open an Insignis cash ISA?’).

Please note that an ISA can only be opened in the name of a single person therefore existing Joint account holders would each need to apply for an ISA in their individual names.

How can a new client open an Insignis cash ISA?

Please speak with your financial adviser, who can either complete the application on your behalf or send it to you for completion.

How can an existing Individual or Joint client open an Insignis cash ISA?

How long does it take to open a cash ISA?

New clients: A maximum of five (5) working days from our receiving a completed application and required documentation.

Existing clients: Your cash ISA will be opened instantly, unless further bank verification of your nominated linked account is required (up to 2 working days).

What documents are required to open an Insignis cash ISA account?

New clients: Proof of identity and address; other documentation may be required to satisfy our due diligence checks and we will advise you promptly should this be the case.

Existing client: No additional documentation unless personal details have changed in which case please contact the Client Services team by telephone, +44 (0)1223 200674, or email client.services@insigniscash.com to advise them of necessary updates.

How can I receive a cash ISA illustration?

Financial advisers: Use the ‘Instant Illustrator’ in the Partner Portal.

Clients: Speak with your adviser or contact the Client Services team by telephone, +44 (0)1223 200674, or email client.services@insigniscash.com.

Will the lead-time to open an account change in the lead-up to the tax year end?

Yes. Cut-off dates will be published on our website and shared by email with clients and advisers. Applications submitted after the deadline may still be processed, but ISA eligibility for the current tax year cannot be guaranteed.

Can I cancel my Insignis cash ISA?

The Insignis cash ISA can be cancelled within 14 days of application, known as the cooling off period. If cancelled during this time, all funds will be returned along with any interest earned, The subscription will not count towards your annual ISA allowance, meaning the returned funds will be available to pay into another ISA within the same tax year.  

There is no notice period or cancellation charge unless funds have been placed in a fixed-term product. In such cases, early withdrawal may be subject to breakage charges as outlined in the product summary provided by the deposit partner.
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To cancel within the 14-day period contact the Client Services team by phone on +44 (0)1223 200 674, by email to client.services@insigniscash.com. No reminder will be issued before the end of the cooling-off period. 

If the ISA is not cancelled within the 14 days, the subscription will count for the current tax year.

Can the Insignis cash ISA be closed?

Yes, the Insignis cash ISA can be closed at any time. To close your Insignis cash ISA, contact the Client Services team by phone on +44 (0)1223 200 674, by email to client.services@insigniscash.com.

CASH ISAs: Deposit into the cash ISA

How can the Insignis cash ISA be funded?

There are three methods available for depositing funds in the Insignis cash ISA:
- transferring in existing ISA(s) monies;
- a bank transfer from your linked account; or
- a Hub-to-Hub transfer from an existing Insignis Hub.

How can a bank transfer be made to the Insignis cash ISA?

After logging into the Client Platform and navigating to the cash ISA Hub, select ‘Add Funds to Hub’ and then ‘Bank Transfer’.

The Insignis bank details for the cash ISA will be displayed. Please note that the bank details for cash ISA deposits are different from those for non-ISA deposits.

What payment reference should be used when making a bank transfer?

Use your ISA account reference, found under ‘Bank Transfer’ in your cash ISA Hub.Yes, both new and existing clients are able to open an ISA if they are eligible (please see ‘Who can open an Insignis cash ISA?’).

Are there any restrictions in making a bank transfer?

You can make a lump sum bank deposit or choose to make multiple payments throughout the tax year subject to your total subscriptions not exceeding your ISA allowance.

Insignis will not collect regular payments from your nominated link account. You will have to send the funds from your linked account to your cash ISA Hub as you require them.

What happens if I make a payment that results in my total subscriptions exceeding my available ISA allowance?

Any payment that causes you to exceed your available ISA allowance will be returned to the originating account. It is your responsibility to ensure the total amount you subscribe across all your ISAs does not exceed the annual allowance for that year.

What bank account can bank transfers be made from?

Bank transfers can only be made from the nominated linked account affiliated with your cash ISA Hub.

How long does it take to allocate the deposits from the nominated linked account?

Deposits received into the Insignis Barclays bank account will be processed and allocated to the cash ISA Hub the next working day. Further information on the Insignis Barclays bank account can be found in the question ‘How can a bank transfer be made to the Insignis cash ISA?’ above.

How can I process a Hub-to-Hub transfer?

After logging into the Client Platform and navigating to your cash ISA Hub, select ‘Add Funds to Hub’, then ‘Individual Hub’ or ‘Joint Hub’, and enter the amount to be transferred.

The transfer cannot be submitted if the amount to be transferred is more than the available amount in your Individual or Joint Hub or is more than your available Insignis ISA allowance.

How long does it take to process a Hub-to-Hub transfer?

Hub-to-Hub transfers will be processed and the funds allocated to the cash ISA Hub within 1 working day of the instruction being submitted.

Where can I find my available Insignis ISA allowance?

You will find the available Insignis cash ISA allowance on the ISA Portfolio page within your Client Platform.

CASH ISAs: Transfer in an existing ISA

How can existing ISAs be transferred?

New clients: You can request a transfer as part of your cash ISA application. Please note that the transfer will only be processed once your Insignis cash ISA account is open.

Once your cash ISA account has been opened, you will also be able to submit a transfer request from the Client Platform.

Existing clients: Once your cash ISA account is open, log in to the Client Platform, navigate to the cash ISA Hub, select ‘Add Funds to Hub’ and then ‘Transfer In’.

What information is required to transfer in an existing ISA?

To transfer in an existing ISA the following information will be required:
- The name of the existing ISA provider
- The account details of the existing ISA
- The type of ISA that is being transferred. Transfers from cash ISAs, stocks and shares ISA and innovative finance ISAs are accepted
- The total value that is being transferred. Full or partial transfers are accepted
- Whether current tax year subscriptions are being transferred and the value of the current tax year subscriptions included in the transfer
- When the transfer should take place

What can be transferred?

Only cash can be transferred into an Insignis cash ISA.

If you are transferring from a stocks and shares ISA or an innovative finance ISA, your existing ISA provider will need to sell the appropriate amount of your investments to make the funds available.

This applies in the case of a partial transfer. For a full transfer, Insignis will provide you with an authority instruction which your current ISA manager will use to sell down the investments and release the full cash balance for transfer to Insignis.

How is the ISA transfer request submitted?

Once you have entered the required information a DocuSign document will be generated enabling you to sign the transfer form electronically. Following receipt of the signed form, the Insignis ISA team will begin their processing. You will also a receive a signed copy of the form by email for your records.

What happens after the ISA transfer form is submitted to the ISA team?

The Insignis ISA team will verify the details and send the form to your existing ISA provider with whom we will coordinate to complete the transfer.

How long does it take to transfer an ISA?

Transfers in from a cash ISA are expected to complete within 15 working days.

Transfers in from a stocks and shares ISA are expected to complete within 30 calendar days.

This is dependent on the appropriate amount of investments being sold and the cash being made available to process the transfer. Insignis cannot accept an in-specie transfer or re-registration of assets.

Please speak with your existing innovative finance ISA provider on their transfer completion times.

You will receive an email confirmation once the transfer is complete and the funds are available in your cash ISA Hub, and ready to be placed with our banking partners.

CASH ISAs: FSCS Protection

Is money held in a Cash ISA subject to FSCS protection?

Yes, subject to depositor eligibility. The £85k FSCS protection limit applies per depositor (i.e., not per account and not per product), per authorised firm operating under a separate banking licence.

CASH ISAs: ISA Allowance

What happens if the maximum annual ISA subscription allowance has been exceeded?

We monitor the total level of deposits made during the tax year to the Insignis cash ISA, and if we receive a payment that takes the account above the maximum annual ISA allowance, we will return the whole amount of that individual payment. It is your responsibility to ensure the total amount you subscribe across all of your ISAs does not exceed the annual allowance for that year. 

Can I contribute to more than one cash ISA in a tax year?

Yes. As of 2024, ISA regulations allow contributions to multiple cash ISAs within the same tax year.

However, Insignis only permits one active cash ISA per client per tax year. If you choose to open another ISA with a different provider, you are responsible for ensuring your total contributions remain within the annual ISA threshold.

CASH ISAs: Placing Funds

Does placing funds from the cash ISA Hub into a banking partner’s ISA product impact the ISA allowance?

No. Moving funds from the cash ISA Hub into a banking partner’s ISA product does not affect your ISA allowance.

Can I cancel the ISA saving product within the Insignis cash ISA?

Cancellation terms vary by product. Please refer to the banking provider’s Product Terms and Conditions, available on the Client Platform, for details on cancellation periods and any applicable charges.

Further questions on placing funds can be found above.

CASH ISAs: Withdrawals

Are withdrawals allowed from the Insignis cash ISA?

Yes, funds can be withdrawn from the Insignis cash ISA at any time. Please note that if funds are withdrawn to your linked bank account, they cannot be replaced in the same tax year without impacting your ISA allowance. This is due to the Insignis cash ISA not being a flexible ISA.

See the section, ‘Transferring an ISA to another ISA provider’, below if you want to transfer funds to another ISA provider.

How can funds be withdrawn from the Insignis cash ISA?

Log in to the Client Platform, navigate to the cash ISA Hub, and select ‘Withdraw Funds’. Follow the on-screen instructions to submit your withdrawal request.

How long do ISA withdrawals take?

Withdrawals will normally be paid into the linked account you have designated within 5 working days of Insignis receiving your request.

Can funds be sent from the Insignis cash ISA account to any bank account?

For security reasons, funds can only be withdrawn back to the nominated linked account or to another ISA manager in the case of a transfer out.

We will allow funds to be sent to authorised third parties, in exceptional cases such as bereavement, subject to receipt of the relevant legal documentation.

Can fixed term products be broken early?

Yes, under certain conditions. Please refer to the ISA banking provider’s Product Terms and Conditions on the Client Platform for details on breakage charges. All requests are reviewed on a case-by-case basis by the ISA banking partner.

Do withdrawals from the ISA saving products into the cash ISA Hub impact the ISA allowance?

No. Withdrawing funds from ISA saving products into the cash ISA Hub does not affect your ISA allowance.

There is no penalty for withdrawing from an easy access savings product, and there are no limits on the number of withdrawals you can make from such products.

Can I move cash from the cash ISA Hub into the Individual or Joint Hub?

No. Transfers from the cash ISA Hub to the Individual or Joint Hub are not permitted.

If you wish to move funds, you must first withdraw them to your linked account and then deposit them into the desired Hub. Please note that if funds are withdrawn to your linked bank account, they cannot be replaced in the same tax year without impacting the ISA allowance as the Insignis cash ISA is not a flexible ISA.

CASH ISAs: Transferring an ISA to another ISA provider

Are withdrawals allowed from the Insignis cash ISA?

Please contact the new ISA provider to initiate the ISA transfer. Do not withdraw the funds yourself, as this will result in the loss of the ISA’s tax benefits.

What is required to facilitate a transfer to another ISA provider?

The required amount of cash must be in the cash ISA Hub to facilitate the transfer. If the required amount of cash is held within the ISA savings products, we will contact you to submit the withdrawal to Hub instruction. Insignis will not withdraw funds that are placed with the ISA banking partners on your behalf.

What about if my existing ISA funds are placed in a fixed term ISA product?

If your transfer out instruction specifies to wait until maturity, the transfer will be paused until the product matures (up to 30 days).

If maturity exceeds 30 days, the instruction will be rejected, and a new one will be required.

If your instruction specifies to transfer out as soon as possible, we will liaise with the ISA banking partner to break the fixed-term product.

Please note: We do not confirm breakage charges in advance. Ensure you understand the potential charges before submitting your instruction.

Breakage details are available in the ISA banking provider’s Product Terms and Conditions on the Client Platform.

Are there any charges for a transfer out?

Insignis does not charge to transfer an ISA out to another ISA provider. However, early breakage charges may apply if a fixed-term product is broken before maturity. Refer to the ISA banking provider’s Product Terms and Conditions for details on the Client Platform.

How long does it take to transfer an ISA to another ISA provider?

Once the paperwork has been received by Insignis from the receiving ISA provider, the funds and transfer information will be sent to the new ISA provider within 5 working days, subject to the funds being available in the cash ISA Hub.

A transfer of a cash ISA to another cash ISA transfer should be completed within 15 working days, assuming all information is correct, and the transfer is not on hold due to fixed term product(s) maturing.

This timescale does not apply to transfers of a cash ISA to a stocks and shares ISA or innovative finance ISAs.

CASH ISAs: Fees

Is there a fee for the Insignis cash ISA?

Yes. Insignis will charge a fee for the cash ISA. The fee is calculated by the application of a fee rate to the daily balance held in your ISA account. When you fund your ISA, the expected annual fee will be set aside in a designed fee reserve.

Does the Insignis cash ISA have its own fee reserve?

Yes. The Insignis cash ISA has its own fee reserve which fees are drawn from every month.

Can these funds in the fee reserve be placed in an ISA savings product?

No. the funds in the fee reserve cannot be placed in an ISA savings product.

Are there any other fees?

No. You will not be charged for account set-up, undertaking transfers or withdrawing cash. Although, certain banks may apply charges should you wish to withdraw money from a term product which has not matured.

If I have both an Insignis cash ISA and an Insignis cash management account, will they be grouped when calculating fees?

Yes. If you hold multiple accounts with Insignis, the fee rate applied will be based on your total portfolio. Moreover, if you and your direct family hold Insignis accounts, the balance of all of these accounts will be grouped for the purpose of determining the applicable rate.

CASH ISAs: Changes to your circumstances

What happens to my cash ISA if I move abroad?

Your Insignis cash ISA does not need to be closed if you move abroad, subject to your continuing to be eligible to hold an ISA.

However, you will no longer be able to add funds or apply for new products under your Insignis cash ISA.

What happens if I become a US Person?

If you become a US Person at any point, you will be required to close your Insignis cash ISA. Please seek appropriate financial advice to understand the implications.

CASH ISAs: Bereavement

What happens to my ISA if I pass away?

In the event of death, the Insignis cash ISA will be designated as a continuing cash ISA of a deceased Investor, and it will remain open until the earlier of:
- The completion of the administration the estate; or
- The closure of the Insignis cash ISA; or
- The third anniversary of your death.

What happens after the third anniversary of death?

If, after the third anniversary of death and the Insignis cash ISA remains open, any tax advantages will be removed, and the account will no longer be deemed an ISA.