Investing into a Stocks and Shares ISA can be a great way for savers and investors to diversify their holdings – but where do you get them from? We’ve broken down the places you should be looking for your Investment ISA.
Who can I get an ISA account from?
While they are an account, it would be a misnomer to call them a ‘bank account’ – as ISAs can be held with all types of institutions, not just banks.
You can get an Investment ISA with…
- Building societies
- Financial Services Companies
- Credit Unions
- Friendly societies
- Peer to peer lending services
- Crowdfunding companies
How do I go about opening an ISA?
The main factor which will dictate how you open an ISA is the provider you’ve chosen. Most providers support online
- Online: Thanks to the advent of the digital age, most providers now support online account set-up, meaning you can open an account from your computer from the comfort of your couch. Check the website of your desired provider to see if this is possible.
- Phone: Many providers support the opening of ISA accounts via phone – check their website to see if this is the case, and if so they will have listed the number there.
- Bricks-and-Mortar Branch: Some providers, such as traditional banks, will allow you to open an ISA in-branch by a face-to-face meeting with a branch worker.
Some providers support all three of these options – do your research and see what your desired provider offers to see where you should go to open your account.
What do I need to open a Stocks and Shares ISA?
To open an Investment ISA you’ll need…
- Your National Insurance Number
- Your bank account details
- You might need a debit card
You can’t open an Investment ISA with a credit card, so if your are asked for your card details you should give debit card information.
How can I compare providers?
If you’re thinking about opening an ISA to utilise your tax allowance before the clock runs out, you’re going to want to shop around.