A Cash ISA (Individual Savings Account) lets you earn interest without paying tax on it. For the 2024/25 tax year, you can save up to £20,000 across all your ISAs, tax-free.
1. About Cash ISAs
You can save up to £20,000 each tax year across all your ISAs (not just with Tandem).
2. Saving and Allowances
Yes. You can now subscribe to more than one ISA of the same type in the same tax year (since April 2024). Just make sure your combined contributions don’t go over the annual £20,000 limit.
Unlike some providers, Tandem lets you open and hold multiple Cash ISAs with us at the same time (both Instant Access and Fixed Rate), so you can spread your savings across different products and make the most of new rates when they launch.
2. Saving and Allowances
No – all interest earned in your ISA is completely tax-free and doesn’t use up your allowance.
2. Saving and Allowances
Our Instant Access ISA is flexible; you can deposit and withdraw at any time and replace money in the same tax year without eating into your allowance. Our Fixed Rate saver is a bit more rigid; you have a 14-day window where you can deposit and withdraw. After that, you can still withdraw, but you’ll be charged a fee for doing so.
2. Saving and Allowances
Yes. You can transfer an ISA from another provider without it affecting your allowance. Just open a Tandem Cash ISA and start the transfer in the app.
3. Transfers
Yes. Simply start the process with your new provider and they’ll contact us. Transfers normally take up to 15 working days. If you’re in a Fixed Rate ISA, an early withdrawal charge will apply.
3. Transfers
Interest is calculated daily and paid monthly, tax-free.
4. Using Your ISA
Yes. You can hold multiple Tandem ISAs (Instant Access or Fixed Rate), so you can separate savings goals or take advantage of new rates.
4. Using Your ISA
You’ll have a 14-day window to decide whether to reinvest, move into an Instant Access ISA, withdraw, or transfer to another provider. If we don’t hear from you, your funds move into a Matured Funds Cash ISA at a variable rate so they keep earning interest tax-free.
4. Using Your ISA
Yes. Tandem is a fully regulated UK bank. Your savings are protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).
5. Security and Protection
Part of your deposits help fund greener choices for others — like home energy upgrades, EVs, and solar panels. In 2024, Tandem customers helped save over 70,000 tonnes of CO₂, the equivalent of taking 15,000 petrol cars off the road for a year.
6. Tandem’s Greener Impact
Instant Access Cash ISA – variable tax-free rate, dip into your savings anytime.
Fixed Rate Cash ISA – fixed rate, fixed term. Great for long-term saving with a guaranteed return.
Both are flexible and FSCS-protected up to £85,000.
1. About Cash ISAs
