What is a Cash Account and why do I need one?

Every Stocks and Shares ISA or Impact Investment Account has a linked Cash Account. Cash Accounts are used for:

  • holding the cash that you will use to make new investments, including regular monthly investments
  • receiving dividend payments
  • receiving proceeds from selling shares
  • holding cash to cover your Annual Service Charge (which is charged quarterly)

You may have more than one Cash Account as a separate Cash Account is needed for each investment account you have. For example, you may have one Stocks and Shares ISA Cash Account, a sole Impact Investment Cash Account and a joint Impact Investment Cash Account.

You will see your Cash Account coupled next to the Stocks and Shares ISA or Impact Investment Account it is linked to, in your account ‘Overview’ in the Triodos Mobile Banking App or Internet Banking.

If you are adding money to your Cash Account for the first time, then this will need to be transferred from your nominated account. Subsequent payments into your Cash Account (ready to purchase more shares or to cover your Annual Service Charge) can come from any of your accounts. Take care to select the correct Cash Account to transfer money into as you may have more than one Cash Account as described above. You can find your Cash Account bank account number within the Mobile App or Internet Banking, use this along with our sort code 16-58-10.

Once you add money into a Stocks and Shares ISA Cash Account linked to a Triodos Stocks and Shares ISA, this will count as an ISA subscription for the current tax year.

Money held in your Cash Account can be transferred out to your nominated account, though you may want to keep some money in your Cash Account to cover the Annual Service charge (charged quarterly), to cover regular monthly investments or to have a balance available to purchase more shares on an ad hoc basis. If you do not keep enough money in your Cash Account to cover your Annual Service Charge, we will instruct to sell shares in your investments to cover the required amount. See What are the charges for investing? for more details on the Annual Service Charge.

You may wish to set up a standing order to make regular payments into your Cash Account, to ensure money is available for your quarterly Annual Service Charge and/or for any regular monthly investments you set up. For more information see How do I add money to my Cash Account?

If you set up a standing order into your account, please ensure the money will be received and cleared in your Cash Account before your monthly investment date, bearing in mind that standing orders will not be processed on a weekend or a bank holiday.

Related FAQs

Related how-to guides

How to set up a regular monthly investment

How to buy shares or top up your impact investment

How to sell your impact investment shares

How to transfer an existing ISA to a Triodos Stocks & Shares ISA

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