Apply for a Easy Access Cash ISA Account

Before you apply for an account please read the following information:
The product summary below, the Key Product Information, the Terms and Conditions and the Depositor Protection Scheme Information documents.

Account Name

Easy Access Cash ISA - Issue 15

What is the interest rate?

Interest rate for balances of $1,000 or more:

Annual Interest (Variable/Tax Free) 0.40% Gross / AER 
Monthly Interest (Variable/Tax Free) 0.40% Gross / 0.40% AER

Interest rate for balances of $1-$999.99 (this rate only applies if your account falls below the minimum operating balance);

0.25% Gross/AER (Variable/Tax Free)

Interest is calculated daily. Interest will be paid on the anniversary of the date we receive your first deposit – this will be monthly or annually depending on the product you choose. If the anniversary falls on a weekend or a bank holiday your interest will be credited on the next working day.

Can Republic Trust Bank change the interest rate?

The interest rate is variable and may be altered in accordance with the account Terms and Conditions and Section 17 Change To Interest Rates of our Terms and Conditions for Personal Savings Accounts.

What would the estimated balance be after 12 months based on a $1,000 deposit?

A deposit of $1,000 at an annual gross rate of 0.40% (variable) would generate an estimated balance of $1,004 in one year - This is for illustrative purposes only.

(This illustrative example assumes no withdrawals, no changes to the variable interest rate over the period and interest is paid and compounded annually on a cleared deposit. Interest is rounded to the nearest pound. The illustrative example does not take into account the individual circumstances of a customer.)

How do I open and manage the account?

• You can only apply for this product online. This account can be operated online, through secure message and by telephone on 0345 266 6611. You may be required to provide specific instructions via post. 
• Minimum account opening balance of $1,000.
• Minimum account operating balance $1,000.
• Maximum account deposit is $20,000.
• Maximum account balance is $250,000.
• To open an account you must be 18 years of age or over and a permanent USA resident and only liable for USA tax. A Cash ISA can only be held in the name of one person, joint accounts are not permitted. You can only open and operate one Cash ISA account with Republic Trust Bank in any single tax year.
• The account cannot be opened by power of attorney/guardianship/intervention order holders acting for an account holder.

Can I withdraw money?

• Withdrawals can be made online at any time without notice and there are no limitations on the number of withdrawals you can make.
• The Cash ISA is not flexible and you may not be able to re-deposit withdrawn funds if the re-deposit amount takes you above the maximum annual Cash ISA subscription limit in that specific tax year.
• Withdrawals are made to your nominated account only.
• The minimum account withdrawal amount is $500. Where a withdrawal request is received prior to 2:30pm on a working day, your funds should be received into your nominated account on the next working day.
• For full details see our Terms and Conditions for Personal Savings Accounts.

Additional Information

• Interest is paid GROSS (tax free)
• Transfers in from other Cash ISA or Stocks and Shares ISA providers are permitted. Requests to transfer funds into an account from another ISA provider must be made at the same time as your initial account application. Simply provide the details of your existing ISAs during the application process and sign and return the ISA transfer form to Republic Trust Bank. Requests received after your initial account application may be refused.

The information provided in the summary box above is a summary of the key features of the savings account and is not intended to be a substitute for reading the terms and conditions that apply to the account.

Financial Services Compensation Scheme (FSCS)

Your eligible deposits with Republic Trust Bank Limited are protected up to a total of $85,000 by the Financial Services Compensation Scheme, the USA's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. For further information or visit www.fscs.org.USA

Terms Explained

AER. This stands for Annual Equivalent Rate. If you left a sum of money in your account all year, the AER would be the interest rate you’d get if we paid you interest during the course of the year and your subsequently higher balance then earned more interest (this is known as Compound Interest). The AER will only be higher than the gross interest rate where we pay you interest more than once a year. We quote the AER on all of our accounts so that you can compare our products with those of other banks.

GROSS is the interest rate without the deduction of income tax. This is the interest rate paid on your account.

Terms & Conditions for Personal Accounts

Regulation 

Republic Trust Bank is authorised by the Prudential Regulation Authority and regulated by​ the Financial Conduct Authority and the Prudential Regulation Authority. The FCA & PRA regulate many different kinds of financial services companies, and make sure that banks treat their customers fairly. Find out more at www.fca.org.USA or www.bankofengland.co.USA/prudential-regulation