ISA Cash Park FAQs

No, the ISA Cash Park is a temporary cash holding within a stocks and shares ISA.

Our rate is competitively set at 0.4% below the Bank of England bank rate and is 4.6% (4.7% AER. This illustrates what the interest rate would be if interest was compounded and paid once a year. Interest rate correct as at 10.04.08.)

The ISA manager must deduct a flat rate 20% charge and pay it to HM Revenue & Customs. This is not reclaimable.

Interest accrues daily and is paid monthly.

When you move money from the ISA Cash Park into a fund that has an initial charge, a charge will be made. No charge will be made when moving money from the Cash Park into a fund that has no initial charge. Fidelity will typically retain 0.4% of the interest earned while in the ISA Cash Park. Fidelity can provide details on request.

The Fidelity ISA Cash Park is a temporary cash holding service. When you invest in the Cash Park you're committed to investing the money in funds available from FundsNetwork.

HM Revenue & Customs (HMRC) may require us to redeem your holding and send the money back to you. This may happen if HMRC believes it's being held as an investment rather than temporarily with the intention to invest into qualifying stocks and shares investments. In this situation, you would lose your ISA tax benefits for the money.

We will send you a letter to remind you that you need to reinvest in qualifying funds when we send your statement and valuation.

No. ISA regulations don’t allow for any cash fund investments within a stocks and shares ISA.

You can invest the unused balance of your £7,200 allowance.

You can make the minimum initial investment of £1,000 in the ISA Cash Park if you haven't used your ISA allowance this tax year. You can't make monthly payments into the ISA Cash Park and there's no phased investment or withdrawal plan option available with the ISA Cash Park.

ISA Cash Park is only available for a stocks and shares ISA. Once you've invested in Cash Park, you can't move the money to a cash ISA.