Put your money where your values are
Money doesn’t stay still. It’s always moving, travelling, leaving its mark. And wherever you choose to save, your money starts a journey. Sometimes it does good along the way, sometimes it doesn’t.
Given the choice, wouldn’t you like to know where your money goes? Wouldn’t you want it to only work for good and help make the world a better place?
At Charity Bank, when you open a Cash ISA with us we give you a fair rate of interest, whilst making sure your money takes a shorter journey, invested directly in charities and projects that benefit people across the UK.
We're a bank for good
With a Charity Bank Ethical Cash ISA, your money is a powerful force for good.
With us your savings become part of a social mission: they might be used to build affordable homes, open a safe house for victims of domestic violence or support disadvantaged young people.
That’s because we’re an ethical bank, solely owned by charities and social purpose organisations. We do not pay staff bonuses, set hard sales targets or pay fees to our non-executive directors.
So, if you’re looking for a bank that will help you to put your money where your values are, you’re in the right place.
- Available to individuals aged 16 years or over, resident in the UK and only liable to pay tax in the UK
- 1.07% Gross/AER*
- 33-day notice period
- Transfers in allowed (applications made online only)
Ethical 33-Day Notice Cash ISA (Gross/AER)* - Managed Rate
|Notice period||Interest rate (minimum saving £250)|
*Gross is the interest rate without tax deducted.
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
|Payment of interest||Interest is paid gross without the deduction of income tax and doesn't count towards your Personal Savings Allowance.|
|Notice period||33 days.|
|Minimum initial deposit||£250.|
|Maximum deposit||The maximum deposit for this account is the 2018/19 ISA allowance of £20,000. You may transfer existing ISA balances from other providers into this account up to our published cap of £500,000. Applications to transfer existing ISAs can only be made when applying online.|
|Withdrawals||You can make unlimited withdrawals, but you must give 33 days' notice for each withdrawal. Your money can be returned to your nominated account, transferred to any other Personal Savings account you hold with us that accepts deposits or transferred to another ISA manager. Please be aware this is not a Flexible ISA.|
|Paying money in||First payment by cheque, electronic transfer, UK debit card or transfer in. Subsequent payments by direct debit, cheque, electronic transfer or UK debit card.|
|Number of account holders||One.|
|How we calculate interest||Interest is calculated daily and paid annually to your account on the last business day of December. There is no bonus interest payable.|
|What would the estimated balance be after 12 months based on a £1,000 deposit?||Based on an interest rate of 1.07% gross, the balance on a £1,000 deposit after 12 months would be £1,010.70. This illustrative example assumes no withdrawals, no changes to the managed interest rate over the period and interest is paid and compounded annually. (The illustrative example does not take into account the individual circumstances of a customer).|
|Can Charity Bank change the interest rate?||The interest rate is managed and may be altered in accordance with Section 8 'Changes to interest rates' of our Terms for Personal Savers.|
|Managing your account||All accounts are operated by post. We can answer any questions directly by email or over the phone.|
- Access: Open an account with just £250 or transfer an existing ISA to us.
- Flexibility: Add to your savings at any time or set up a direct debit up to £20,000 (2018/19 tax year ISA allowance).
- Social impact: Your money will be used to support charities and social enterprises, whilst earning you a fair return.
- The Ethical 33-Day Notice Cash ISA is available to individuals 16 years or over and living in the UK.
- There are no restrictions on the number of withdrawals you can request. Early withdrawals (sooner than 33 days' notice) are not allowed.
- You can make unlimited deposits up to £20,000 (2018/19 tax year ISA allowance). Once you’ve paid in your full year’s Cash ISA allowance, you can’t replace any money you have withdrawn, i.e. this is not a Flexible ISA.
- You may transfer existing ISAs from other ISA managers into this account. Please select 'APPLY ONLINE' if you would like to do this. You will need to print an Application Summary and Cash ISA Transfer Form at the end of the online process to sign and return to us. N.B.: If you already hold a current tax year Cash ISA with us, please contact us to discuss how to transfer in funds from another ISA manager.
- Your eligible deposits with Charity Bank are currently protected up to the limit of £85,000 under the Financial Services Compensation Scheme.
- If you change your mind within 14 days of opening your account, we will cancel your account without notice or penalty.
- View our full Terms for Personal Savers click here.
- Once you've opened your account with us, we'll send you a welcome pack explaining how to manage your account and where we’re investing your money.
- You’ll receive annual bank statements with an ethical twist: see how your savings have grown and learn about some of the organisations your savings have supported.
- When you need to access your money, give us 33 days' notice and send your request in writing to Fosse House, 182 High Street, Tonbridge, Kent TN9 1BE.
- Call us directly to check your account details and rates or if you have any questions.
- t: 01732 441944 e: firstname.lastname@example.org
Read about the organisations we support
Read about how our borrowers are using loans to grow, innovate or simply support their work as they breathe life back into communities and help people in challenging situations to live the lives they want.
YMCA London South West: smart design, better housing
YMCAs have been tackling youth homelessness for over a century. Richard James, CEO of YMCA LSW, explains how a Charity Bank loan will help formerly homeless young people learn to live independently.
Greenwich Steiner School: an alternative education
Adrian Dow, Headmaster at Greenwich Steiner School, talks about how a Charity Bank loan is enabling it to refinance an existing loan, putting the school in a stronger financial position to extend its building and eventually include education up to A-level.
YMCA Downslink Group: helping young people to thrive
Chas Walker, CEO of YMCA Downslink Group, explains how its decision to borrow from Charity Bank was influenced by a desire to work with a likeminded organisation with aligned values.
Cosgarne Hall: beating addiction
Cosgarne Hall helps homeless people to take control of their lives, operating an alcohol and substance tolerant policy. Since 2009, ten lives have been saved and last year alone 70 people were supported to live independently.