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How to top up an ISA

If you’re looking to make the most of your tax-free allowances, topping up an Individual Savings Account (ISA) is an easy way. You can top up a cash ISA whenever you want during the tax year – up to a £20,000 annual limit in 2020/21.

Moving money into your cash ISA

How you top up will vary depending on your ISA provider.

If you’re an HSBC customer, you can move money into a cash ISA the same way you’d move money into another type of current or savings account. You can do this online, or through our mobile banking app.

You can also transfer money – or an existing ISA – from another bank into your HSBC ISA. 

To help ensure you meet your savings goal and maximise your tax-free allowance, you may want to consider a standing order. This will mean you’re making regular payments into the ISA.

What if you haven't topped up your cash ISA in a while?

If you haven’t made a subscription into your cash ISA in the previous tax year, you will need to make a fresh application if you want to make any further subscriptions. 

If you’re an HSBC customer, you can reactivate an ISA by filling out this form (PDF, 613KB).

Why use your cash ISA?

ISAs are an effective way to save and can reduce the amount of tax you have to pay on the interest you earn. 

And if you’re saving for something in particular like a holiday, or a home, every little bit counts. Even if you don’t have a particular goal in mind, the more money you save, the more financially secure you could become. So, it’s worth taking advantage of your tax-free allowance. 

Your allowance will reset when a new tax year starts. The start of a new tax year could also be a good time to look at any savings accounts you currently have to see if they’re still helping you meet your financial goals.

Log on to, or register for, online banking

Things to keep in mind: The value of the tax benefits described depends on individual circumstances. The tax treatment of ISAs could change in the future. Tax free means free of liability to UK Income Tax, or Capital Gains Tax.

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