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Compare Bank of Scotland ISAs

Compare ISAs from Bank of Scotland and other ISA options available.

Investment ISAs put your capital at risk & you may get back less than you originally invested

What you're looking for isn't available; however, these brands may offer suitable alternatives

Stocks & Shares ISA

from Nutmeg

Allows ISA Transfers
  • Fund Choice: Nutmeg offer 4 diversified portfolios with ETFs, using technology to keep charges low.
  • Invest From: Min. £500 single

Stocks & Shares ISA

from AJ Bell

Allows ISA Transfers
Regular Savings
  • Fund Choice: Wide range of stocks and shares, over 2,000 funds (unit trusts and OEICs), investment trusts and ETFs. Capital at risk.
  • Invest From: £25 pm

Stocks & Shares ISA

from Interactive Investor

Allows ISA Transfers
Regular Savings
  • Fund Choice: Access 40,000+ UK, US and international shares on 17 global exchanges. Choose from over 3,000 funds. Special offer: Open an ISA with £1,000 or more before Sunday and be in with a chance to win £100 of free trades. New customers only. Terms apply. Capital at risk.
  • Invest From: £25 pm
See Deal Special offer: Transfer an ISA worth £10,000 or more before 30 June and get £100 cashback. New customers only. Terms apply. Capital at risk.

Stocks & Shares ISA

from Hargreaves Lansdown

Allows ISA Transfers
Regular Savings
  • Fund Choice: Choose from over 3,000 funds, shares, investment trusts and more to build your portfolio. Capital at risk.
  • Invest From: £25 pm or £100 lump sum

Stocks & Shares ISA

from Best Invest

ISA Option
Allows ISA Transfers
Regular Savings
  • Fund Choice: Over 2,500 funds, UK shares, investment trusts and ETFs or choose Ready Made & Managed Portfolios
  • Invest From: No minimum

Stocks & Shares ISAs

from Fidelity

Allows ISA Transfers
Regular Savings
  • Fund Choice: Choose from over 4,000 investment options, including one of the widest fund ranges in the UK. With online guidance tools and expert fund ideas to help you choose. Capital at risk
  • Invest From: £25 pm

Stocks & Shares ISA

from Fineco

Allows ISA Transfers
  • Fund Choice: A complete multi-currency platform with low fees. Premium trading without premium prices. Choice of worldwide asset managers.
  • Invest From: £100
See Deal Zero Platform Fees - Until the end of the 2022/23 tax year if you open your ISA by 30 April 2022. 0.25% max when promo ends.

Stocks & Shares ISA

from Wealthify

Allows ISA Transfers
Regular Savings
  • Fund Choice: Choose your risk profile and have an investment Plan built and managed for you.
  • Invest From: £1

Stocks & Shares ISA

from Shepherds

Allows ISA Transfers
Regular Savings
  • Fund Choice: Invest in the Shepherds With Profits Fund which offers medium to low risk investing, with the aim of growing your money in a smooth manner over the long term.
  • Invest From: £30 pm

Stocks & Shares ISA

from Moneyfarm

Allows ISA Transfers
Regular Savings
  • Fund Choice: Choose your risk profile and have it matched to an investment portfolio expertly built and managed.
  • Invest From: £1,500
See Deal Up to £400 for all new users that create an account until the end of April

Stocks & Shares ISA

from InvestEngine

Allows ISA Transfers
Regular Savings
  • Fund Choice: Offering commission-free DIY investing or low-cost, professionally managed income or growth portfolios built for you
  • Invest From: £100

My Choice ISA

from Scottish Friendly

Allows ISA Transfers
Regular Savings
  • Fund Choice: A choice of 10 funds so you can pick those that best suit your needs, whether that is just one, a mixture of all 10 or somewhere in between.
  • Invest From: £10pm

Stocks & Shares ISA

from Beanstalk

Allows ISA Transfers
  • Fund Choice: Choose from two funds: a cash fund that aims to provide returns in line with money market rates and a shares fund that aims to track the performance of global stock markets.
  • Invest From: £10

Stocks & Shares ISA

from Willis Owen

Allows ISA Transfers
Regular Savings
  • Fund Choice: Choose from a wide range of funds, shares, investment trusts and ETFs. Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.
  • Invest From: £25

Investment ISA

from Barclays Smart Investor

Allows ISA Transfers
Regular Savings
  • Fund Choice: Invest in over 2,000 funds, plus Exchange Traded Funds, Investment Trusts, Shares and more. 5 Ready-made Investment funds if you’re not sure where to invest. Capital at risk.
  • Invest From: Any amount

Who are Bank of Scotland?

Bank of Scotland are one of the oldest Banks in the UK, and their history dates back to 1695.

They have been a subsidiary of Lloyds since 2009, and today operate a range of financial services from retail to private banking.

They offer a range of ISA accounts varying from Cash ISAs to Stocks and Shares ISAs, giving customers a healthy selection of tax-efficient savings options to choose from.

What is an ISA account?

ISAs are a type of tax-efficient savings account.

The ISA Basics:

  1. You are allowed to contribute up to £20,000 to ISAs in the current year.
  2. This ISA allowance refreshes each year so you can keep topping up your ISA.
  3. There are two main types of ISAs: Cash ISAs for cash savings, and Stocks and Shares ISAs for stock investments.

ISA Tax Benefits:

  1. Any interest you earn in a Cash ISA is 100% free from income tax.
  2. Any dividends you earn from a Stocks and Shares ISA are 100% free from income tax.
  3. You don’t need to pay capital gains tax on the growth of your Stocks and Shares ISA when you sell your holdings for a profit.

What is the difference between a Cash ISA and a Stocks and Shares ISA?

Cash ISAs keep your money invested solely in cash, and you earn interest on the balance of your account.

Stocks and Shares ISAs allow you to invest your money in the stock market and you can get dividends and growth returns on your investments.

Cash ISA Basics:

  • Your investment cannot decrease in value.
  • You can get a fixed or variable rate of interest on your savings.
  • Fixed interest rate products provide higher returns, but you must commit to a term of 1 to 5 years before you can withdraw without being charged.
  • Variable interest rate products have lower returns, but you can usually withdraw money at any time.
  • Withdrawing early from a fixed Cash ISA results in you losing a portion of your interest or being charged.
  • Ongoing low interest rates in the UK means that Cash ISA returns are very limited.

Stocks and Shares ISA Basics:

  • You can invest in the stock market in shares, funds and ETFs.
  • You can either pick investments yourself or choose a ready-made ISA portfolio that is managed for you (often the more expensive option).
  • Annual management charges apply.
  • You have the potential for higher returns compared to Cash ISAs, but the value of your investments can go down as well as up, - you could get back less than what you originally invested.
  • Withdrawals are usually permitted at any time from a Stocks and Shares ISA.

What type of Cash ISA does Bank of Scotland offer?

Bank of Scotland have two Cash ISA products on offer – a variable-rate Cash ISA and a fixed-rate Cash ISA.

BoS’s variable ISA:

  1. Interest rate can vary
  2. Unlimited free withdrawals
  3. Lower rates than the fixed-term ISA

BoS’s fixed ISA:

  1. Guaranteed interest rate return
  2. Higher rates than the variable option
  3. No withdrawals permitted, and you are charged for closing or transferring your account early

What type of Stocks and Shares ISA does Bank of Scotland provide?

1. Bank of Scotland ready-made ISA portfolios:

  • Invest in a managed, ready-made stock portfolio, controlled by qualified investment professionals.
  • Choose a portfolio based on your attitude to risk, from cautious to adventurous.
  • With this investment method, you get a diversified ISA portfolio managed daily by professionals, but you’ll pay higher charges compared to if you pick funds and shares yourself.

2. Bank of Scotland self-select ISA:

  • Better if you are a more experienced investor comfortable with making your own investment decisions.
  • Choose from shares, funds, ETFs and other investment products.
  • You’ll usually pay dealing charges for purchasing your investments.
  • You’ll likely pay lower fund charges than you would with a ready-made ISA depending on the assets you choose within your own specific portfolio.

How do I open a Bank of Scotland ISA?

The easiest way to open a Bank of Scotland ISA is online, and there are three ways you can make your first contribution to invest:

  1. Debit card payment
  2. Direct debit regular contribution
  3. ISA transfer

If you transfer an existing ISA into a Bank of Scotland Cash or Stocks and Shares ISA it won’t count towards your annual ISA allowance.

You can only add £20,000 of new money to ISAs in one tax year, but you can transfer as many existing ISAs to a new account as you like.

To do so, speak to Bank of Scotland or your new ISA provider to request an ISA transfer form to get the ball rolling.

Make sure to check with your existing ISA provider(s) as to whether you’ll be charged for transferring out or selling down your assets to transfer. 

Sam Hodgson
Edited by Sam Hodgson - ISA.co.uk

Frequently Asked Questions

No. You can switch providers with an ISA transfer if you wish. You can also contribute to other ISA providers in separate tax years.

You can lose money in a Stocks and Shares ISA if your investments go down in value. You cannot lose money with a Cash ISA.

ISA accounts are authorised and regulated by the Financial Conduct Authority (FCA). This means that all ISA providers are covered by the Financial Services Compensation Scheme (FSCS) for up to £85,000 if they go out of business.

Please note that this may not apply to the underlying holdings within a Stocks and Shares ISA, and will not cover standard investment losses. 

Most providers will allow you to withdraw from your ISA online, via a mobile app, telephone, or by written instruction in the post.

The annual ISA allowance is set by HMRC each year, and the current limit is £20,000 per person for the 2022/23 tax year.

The annual ISA allowance runs in line with the normal tax year, which is 6th April to 5th April the following year. Your ISA allowance will refresh on 6th April each year.

A Stocks and Shares ISA provider will charge an ongoing, annual platform fee as well as some ad hoc charges.

A Cash ISA could also charge if you withdraw money before the end of a fixed-term investment.

Important Risk Information:

The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website aims to provide information to help you make your own informed decisions. It does not provide personal advice based on your circumstances. If you are unsure of how suitable an investment is for you, please seek personal advice.