Transfer an ISA
If you already have Cash ISAs with other providers, and you’d like to benefit from the competitive rates we offer for new deposits, you can transfer an ISA to Bank of Cyprus UK. You can fix the rate of your ISA transfer when you switch to ensure you benefit from our best rates and make the most of your tax-free savings.
- Highly competitive fixed and variable rates.
- Quick and easy transfer - we do the hard work for you.
- Interest is calculated daily and paid annually. Variable interest is paid at the end of the tax year. Fixed interest is paid on the anniversary of the account opening.
- £500 minimum opening deposit.
- Fee-free withdrawals from the fixed rate are permitted at the end of the fixed term.
- Restrictions apply for earlier access.
- Fee-free withdrawals from the variable rate are subject to 35 days' notice.
- Customers holding any account with Bank of Cyprus UK which was opened on or before 31 December 2012 will receive the loyalty rates.
You can apply to transfer an ISA to us if you are a UK resident aged 18 or over. Please read the following documents before you apply to ensure you understand the features and conditions of the account:
- Cash ISA Conditions
You should read this document carefully so that you understand what you are buying, and keep a copy for future reference.
- Cash ISA Transfer form
You can download and complete this form to apply by post, or in person at our North London branch.
|Term||Loyalty rates||Advertised rates|
|Fixed rate||3 years||2.30%||2.30%||2.20%||2.20%|
3 steps to a better deal for your Cash ISA
- Call 0845 850 5555 and quote switch for our latest fixed and variable rates.
- We'll send you a transfer form for you to complete and return to us.
- We'll contact your current provider and handle the ISA transfer on your behalf.
You are restricted in the total amount you can invest in ISAs. Opening a Cash ISA will limit the amount that you can invest in a Stocks and Shares ISA.
Fee-free withdrawals are permitted at the end of the fixed term for funds deposited at the fixed rate. If you make a withdrawal during the term you will lose 180 days’ interest on the amount withdrawn. Fee-free withdrawals from the variable rate are subject to 35 days’ notice. If you make a withdrawal without notice, you will lose 35 days’ interest on the amount withdrawn.
You can only pay in up to the maximum annual deposit amount for the tax year, regardless of withdrawals made during the tax year.
Tax-free is the contractual rate of interest payable where interest is exempt from income tax. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest were paid and compounded once each year.
The tax treatment depends on individual circumstances and may be subject to change in the future.