Learn about easy access ISAs

Our easy access ISAs are flexible, so you can take money out and replace it later, without it counting towards your annual ISA allowance - as long as you pay the money back in before the end of the same tax year. The amount you take out and can replace is called your ‘flexible ISA allowance’.

How does a flexible ISA allowance work?

The amount you withdraw from a flexible ISA can be paid back in during the same tax year without counting towards your annual ISA allowance of £20,000. This flexible ISA allowance resets to zero every year on 6 April.

Flexible ISA allowance explained - Barry’s Story

Barry's had an easy access ISA for 5 years now, including the current tax year. He wants to buy a new car and has budgeted for £13,000.

Barry has a total of £55,000 in his easy access ISA. He's hasn't added the full £20,000 per year but still tops up his ISA with a significant amount each year. He hasn’t paid anything into his ISA during this tax year yet.

Barry withdraws £13,000 for the car, leaving him with a balance of £42,000 in his ISA.

This tax year, Barry can pay back the £13,000 he took out, as well as deposit his annual ISA allowance of £20,000 - a total of £33,000 during this tax year. This is because the £13,000 is his flexible ISA allowance, which doesn't count towards the current year's allowance.

Explore our ISAs

Is my ISA flexible?

Our Coventry ISAs are flexible. If you have a Coventry fixed rate ISA, it isn't flexible. That’s because our fixed rate ISAs aren't designed for regular payments and withdrawals.

If you’re not sure if your ISA is flexible, simply log in to Online Services here. Alternatively, you can call us or ask in branch.

Can I transfer my flexible allowance to another provider?

You can’t transfer your flexible ISA allowance to another provider.

That is why replacement of flexible ISA funds must be made to the account from which the withdrawal was made.

Remember, if you transfer the ISA to another provider and close the account, you lose any flexible ISA allowance you've created.

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Learn about easy access ISAs

How does a flexible ISA allowance work?

Flexible ISA allowance explained - Barry’s Story

Is my ISA flexible?

Can I transfer my flexible allowance to another provider?

Want help? Our help section is bursting with useful information. If you'd rather chat, just give us a call.

Call us on 0800 121 8899

Want help? Our help section is bursting with useful information. If you'd rather chat, just give us a call.

Call us on

0800 121 8899

Want help?
Our help section is bursting with useful information. If you'd rather chat, just give us a call.

Want help?
Our help section is bursting with useful information. If you'd rather chat, just give us a call.