Cash ISA
Easy-access
Flexible
Trading 212 Cash ISA
interest rate
£20,000
maximum per year
by WInvest
Who is Trading 212?
Trading 212 is a UK-based online investment platform and broker that offers commission-free trading in stocks, ETFs and ISAs through a mobile and web app. It has become one of the UK’s most popular investing apps, known for its intuitive interface and low costs, and is regulated by the UK’s Financial Conduct Authority (FCA), with client assets protected under the Financial Services Compensation Scheme (FSCS) up to limits set by UK rules.
Pros and cons
- Pros
- Competitive interest rates on uninvested cash and cash ISAs, often higher than traditional banks
- User-friendly app and platform with easy navigation and low or no commission on many services
- Broad access to stocks, ETFs, fractional shares, and easy fund transfers
- Cons
- Customer support can be limited (e.g., no telephone service) and sometimes slow
- Research tools and educational resources are relatively basic compared with larger brokers
- Some users report occasional app lag or interface quirks, and the platform may feel simplistic for very advanced traders
What is a Cash ISA?
A Cash ISA is a savings account where all interest you earn is completely tax-free. Every UK resident aged 18 or over gets an annual ISA allowance at the start of each tax year. For the 2025/26 tax year (ending 5 April 2026), the allowance is £20,000, and from April 2027 it will reduce to £12,000. Cash ISAs come in different types, including easy-access accounts and fixed-term accounts.
What is an easy-access Cash ISA?
An easy-access Cash ISA allows you to withdraw your money whenever you need it, without paying any penalties. The interest rate is variable, so it can rise or fall over time. Some easy-access ISAs are also flexible, meaning withdrawn money can be replaced without affecting your allowance.
What is a flexible Cash ISA?
A flexible ISA lets you withdraw money and put it back in again within the same tax year—up to 5 April—without reducing your annual ISA allowance. For example, if you had £1,000 in a flexible Cash ISA and withdrew £500, you could pay that £500 back in later in the year without it counting towards your £20,000 allowance. Current-year ISA subscriptions can be replaced in any ISA (not just a flexible one) without using up your allowance, but previous-year subscriptions must be replaced into the same ISA you withdrew from. By contrast, withdrawing £500 from a non-flexible ISA would permanently reduce the amount you can pay in for that year, even if you later put the £500 back.
Who is Trading 212 Cash ISA good for?
The Trading 212 Cash ISA is well-suited to beginners and everyday savers who want to make the most of their annual ISA allowance with a straightforward, app-based experience and competitive interest rates. It’s also attractive to those who already use the platform for investing and want to keep savings and investments in the same ecosystem. While experienced investors may find more advanced platforms preferable for research tools, the Trading 212 Cash ISA offers a simple, tax-efficient way for many UK savers to grow their cash.
WInvest Rating
4.6 ★★★★★
5.0 ★★★★★
Nice and intuitive interface. Good for beginners and serious traders. I like the feature of practice mode with real prices but fake money.
5.0 ★★★★★
I have an ISA which so far has been trouble free here. I like getting monthly statements and seeing interest grow.
5.0 ★★★★★
Easy to use, good rates, good for beginner investors
Easy to use app and platform. Transfers between banks and ISAs easy. Great way to save tax free within ISA limits.
5.0 ★★★★★
Trading 212 has one of the best cash ISA rates about. Their app is pretty easy to use and they’re FSCS guaranteed so money up to £85k in a cash account is protected by the UK gov.
5.0 ★★★★★
A Great Platform For Beginner Investors
I first started using Trading 212 in October 2024, initially taking out a Cash ISA with then due to interest rate & a Stocks & Shares ISA in November 2024. I find the platform very easy to use, the monthly auto invest & pie features make regular investing straight forward & hassle free. What’s more there are no monthly fee for use of the platform, although, you do pay FX fees on foreign investment transactions, which are minimal. I would highly recommend Trading 212 to anybody thinking of starting on their investing journey.
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Cash ISA
Easy-access
Flexible
Minimum deposit
Maximum allowance
£20,000 per year
How to open?
Interest paid
Is flexible?
To Note
- Lower 3.60% on transfers of previous years’ deposits
- 1-year 0.68% new customer bonus is available through MoneySavingExpert