Moneyfarm, the European digital wealth manager, has announced the launch of a competitive, easy access Cash ISA, designed to help clients achieve their short-term financial goals with the added benefit of tax-free savings.
Moneyfarm’s Cash ISA will offer a competitive 4.70% AER* (variable) interest rate for the first year for new customers (4.23% the AER (variable) for the following years).
For existing Moneyfarm customers, rates are 4.43% AER* (variable) for the first year. Cash held in a client’s ISA account will earn daily interest in a secure, protected account that is easy to access with no penalties.
Clients will also benefit from Moneyfarm’s transfer service, which allows them to seamlessly transfer existing ISAs with no fees, consolidating their savings under one roof without impacting their annual ISA allowance. Additionally, unlike other offerings available in the market, transfers are included in the boosted rate.
While investing is crucial for long-term financial planning, maintaining cash savings provides short-term flexibility, whether that be for an easily accessible emergency fund that is still receiving interest, or to support with key financial goals. The Moneyfarm Cash ISA is an essential tool in a wealth-building kit, offering higher interest rates than standard savings accounts and complementing long-term investments.
This latest offering is part of Moneyfarm’s continued commitment to supporting clients as a total wealth manager, helping them build their wealth with ease, efficiency, and transparency.
The launch of the Cash ISA is the latest addition to Moneyfarm’s growing range of products, following the recent introduction of the Guidance+ investment solution, which provides personalised support tailored to meet clients’ individual needs when evaluating different investment scenarios. Additionally, over the past year, Moneyfarm has also launched a 100% equity portfolio, catering to clients comfortable with higher volatility and focused on long-term investments.
Chris Rudden, Head of Investment Consultants UK, said: “We are pleased to introduce the Moneyfarm Cash ISA, the latest addition to our growing suite of savings solutions for our clients. This product is designed to help our clients save smarter and achieve their short term financial goals with the security and flexibility they need. Whether you’re building an emergency fund or saving for a big milestone, the Moneyfarm Cash ISA offers tax-free growth and flexible access to your funds, making it an essential tool within your overall allocation.”
