Cash ISA application
If you’re new to the M&S Cash ISA, it only takes a few minutes to apply online. Before you start, please look at the What you should know before you apply section below.
Please note, rates on Advantage ISA are changing with effect from 18 October 2016. Please see our savings rates for more details.
M&S Tracker Cash ISA and Flexi Cash ISA
On 16 October 2016, we'll be making our Cash ISA options simpler by removing our Tracker Cash ISA and Flexi Cash ISA options.
Any customer with subscriptions in either of the two options will be moved to our Advantage Cash ISA on this date and benefit from the improved interest rate.
Want to top up your M&S Cash ISA?
If you have an existing M&S Cash ISA you can use this top-up form to top up any remaining cash ISA allowance into the M&S Advantage Cash ISA option or M&S Fixed Rate Savings option. Please note that the minimum you can top up into the M&S Advantage Cash ISA option online is £100. If you would like to top up less than £100 please call us on 0808 002 2222.
What you should know before you apply
Important information for first-time home buyers
Subscribing to an M&S Cash ISA may affect your eligibility to subscribe to a Help to Buy: ISA in the same tax year.
Am I eligible?
To apply for a cash ISA you have to be aged 16 or above and be a UK resident, or if not so resident, be a Crown employee serving overseas, or be married to, or in a civil partnership with, such a person. The M&S Cash ISA is not available to residents of the Channel Islands and the Isle of Man.
How much can I save?
You can save up to £15,240 in a cash ISA during the current tax year (ends 5 April 2017).
What you'll be asked for
- Your residential address including post code (we are unable to accept c/o or PO Box addresses). You'll also need to provide your previous residential address if you've been at your current address for less than 3 years.
- Your National Insurance number
- Your email address
- Your bank or building society details for future income or withdrawal payments. We will write to you to request suitable verification of your bank details, at a later stage, in order for us to make payments directly to your bank or building society account.
- Your debit card details - make sure you've got enough cleared funds in your account to make a deposit. Your debit card should be registered to your residential address.
To comply with regulatory obligations we need to collect certain personal information from you, including your employment and income details and how you will fund your account. We will conduct various checks on applications and transactions.
Your name and address will be checked with a credit reference agency to verify your identity and for crime prevention measures, using information from the Voters Roll and other public sources. If we're unable to confirm your details we will write to you to request verification prior to accepting and completing your application.
We will check to confirm the card being used is yours by using a database maintained by the UK banks (Address Verification System). If we are unable to confirm the card is yours we will write to you requesting additional documentation to verify the transaction and outline the action we will take if we do not receive the documentation.
What you should read
Before you start, you need to read (and agree to) our M&S Cash ISA Terms and Conditions and the Fixed Rate Savings Issue 27 (Cash ISA) Terms and Conditions. You should also read the M&S Cash ISA Summary Box, M&S Cash ISA Key Features and UK FSCS Information Sheet and Exclusions List.
Transferring an existing ISA
It’s easy to transfer from another provider’s ISA into the M&S Cash ISA. All you have to do is complete and send back to us one of the transfer forms below, and we’ll do the rest.
- Transfer an existing cash ISA to the M&S Cash ISA
- Transfer an existing stocks and shares ISA to the M&S Cash ISA
Once the transfer is complete, we’ll let you know.
Where you are transferring in a stocks and shares ISA to a cash ISA, your stocks and shares ISA manager will, after receiving the instruction to transfer, sell your investments and make the transfer to us in cash.
Lines are open Monday to Friday - 8am to 8pm, Saturday - 9am to 5pm.
*Please note that the value of stocks and shares ISAs (and any income received from them) can fall as well as rise and you may not get back what you invested. For some investments this can also happen as a result of exchange rate fluctuations as shares and funds may have an overseas exposure.