How do I tell if I have a cash ISA?

Emoch

I've heard cash ISAs aren't really worth it but how do I actually tell if my ISA is a cash ISA? I have my savings in the Nationwide Flexclusive ISA Issue 17 and I've read through all the documentation for it but I still can't tell if it's a cash ISA or not. How would I find out?

bowlhead99

Yes it's a cash ISA. You put cash into it. The cash sits in a building society account with depositary protection from the FSCS and is not subject to investment risk. You can later withdraw or transfer the cash without worrying about potential investment losses or significant withdrawal penalties.

It is not an investment ISA (S&S ISA), innovative finance ISA (peer-to-peer lending) or Lifetime ISA (special government incentives for the under-40s with terms & conditions and withdrawal penalties).

EthicsGradient

It's a cash ISA - see https://www.nationwide.co.uk/support/support-articles/terms-and-conditions/flexclusive-isa "This Key Product Information gives you information that is specific to the particular cash ISA you have with us"

Albermarle

I've heard cash ISAs aren't really worth it

Nowadays there is a certain amount of interest you can earn without paying tax on it.( the exact amount varies depending on your earnings level )
So the original reason for a cash ISA ( to protect interest from tax ) has disappeared for the majority of people.
Typically you can find non ISA accounts paying a little bit better interest rate than Cash ISA accounts.