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Compare M&S ISAs

Compare ISAs from M&S 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 M&S Bank?

M&S Bank was launched by Marks and Spencer in 1985 and operates as a retail bank trading in the UK.

The bank is fully authorised and regulated by the FCA, and they specialise in providing personal savings and banking products for individual customers.

The financial services products M&S offer include loans, credit cards, insurance products, current accounts and savings accounts.

One of the savings accounts they provide is a Cash ISA account, with variable and fixed interest rates available.

What is an ISA account?

An ISA account is a type of savings account with added tax benefits.

In a standard savings account, you need to pay income tax on dividends and interest, and capital gains tax on the growth of your investments.

But in an ISA, your investments are always 100% free from tax.

This makes them an attractive savings option for investors, as you get the peace of mind that you’ll never need to declare your ISA savings to the taxman.

The government allows you to invest up to £20,000 in the current tax year into ISAs. Your ISA allowance refreshes each tax year, but this is the current maximum you can contribute.

There are two main types of ISA accounts:

  1. Cash ISAs
  2. Stocks and Shares ISAs

Cash ISAs offer fixed or variable interest rates based on the fixed term of your investment and the flexibility for withdrawals. You always get back at least what you put in provided you don’t withdraw before your term ends, but interest rates are fairly low in the UK currently, and have been since 2008.

Stocks and Shares ISAs allow you to invest your ISA funds in the stock market, either via a ready-made managed portfolio or through your own investment choices. The potential for growth and dividends is much greater, but your investments can both fall as well as rise in value.

What type of ISAs do M&S Bank offer?

The M&S Bank ISA is a Cash ISA, and they offer variable-rate and fixed-rate options.

Fixed-rate Cash ISA:

  1. Gives you a guaranteed rate of interest over a fixed term, from 1 to 5 years
  2. The longer the term, the higher the interest rates
  3. You are charged if you withdraw before the end of your term

Variable-rate Cash ISA:

  1. Gives you a lower rate of interest that can fluctuate over time
  2. You get lower interest rates than fixed-rate ISAs, but you can withdraw without penalty

M&S Bank allow you to mix and match between each of their Cash ISA rates.

For example, you could invest £17,000 into the 3-year fixed-rate ISA and £3,000 into the variable rate ISA so that you have convenient access to £3,000 if you need it while benefiting from higher rates on the fixed portion.

What are the rules and restrictions for ISAs?

HMRC enforce several restrictions to ISA accounts and how you can use them, so it’s important to know the fundamental rules before investing:

  • The maximum amount you can contribute to an ISA this year is £20,000
  • Your ISA allowance is split between both Cash ISAs and Stocks and Shares ISAs, so you can share your contributions between the two types
  • You can't add money to more than one Cash ISA in the same tax year
  • The same goes for Stocks and Shares ISAs – you can’t open two in the same tax year
  • But you can open different Cash ISAs across multiple tax years provided you don’t add to both in the same year
  • You can transfer existing ISAs to a new ISA and it will not be classed as a contribution towards your annual ISA allowance
  • Your ISA allowance doesn’t carry forward to the next tax year - you lose any allowance that you don’t use
  • Your allowance refreshes each tax year on 6th April
  • If you withdraw from an ISA, you can’t put your money back in without having the amount deducted from your annual allowance (unless it's specifically a Flexi-ISA), so be careful when you withdraw

How do I apply for an M&S ISA?

You can apply for an M&S Bank ISA using the following methods:

  • Online
  • Via the telephone
  • By posting an application form

The quickest option is online, and you just need to create an account with a password, apply some basic personal information including your National Insurance Number, and then make a contribution to your account.

You must be at least 16 years old and a UK resident, and you cannot have opened or contributed to another Cash ISA with another provider in the current tax year. 

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.

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. 

No, ISA stands for Individual Savings Account and must be solely owned for tax purposes.

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.

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.