Stocks & Shares ISA -Frequently Asked Questions

From managing and tracking your account, to general information and transfer options, we explore the most common questions around your stocks & shares ISA.

What is a Stocks & Shares ISA?

Is this the right product for me?

Can I open a Stocks & Shares ISA?

How can I pay into my ISA?

You can only pay into one stocks and shares ISA during each Tax Year.
You can make payments by monthly direct debit, or lump sum payments by debit card.

You may also be able to transfer into your ISA from an ISA or Matured Child Trust Fund, held with us or another provider (please check our website for transfer options available).

Payments will take time to clear and invest in you fund, for details of these timescales see the Terms and Conditions.

How much can I pay in?

Will I pay tax on growth?

Will you charge me for looking after my ISA?

Yes. We have tried to keep this simple and transparent with a single charge that reflects the cost of managing your account and funds.

This will take the form of an Annual Management Charge which will be a percentage of your investment value. This charge may vary by fund. You can find details of these charges in the Key Information Document for the fund you are invested in.

We may also charge a small administration fee for cancelling and reissuing cheques or issuing duplicate or additional statements. You will be told whether we will make a charge and how much it will be when you make a request.

How will my money be invested?

We will provide a simple choice of funds when you set up your ISA. The choice you will need to make will be based on your attitude towards risk – lower risk funds will have a lower stocks and shares content, whilst higher risk funds will be invested up to 100% in stocks and shares.

All our ISA funds will be invested responsibly aiming to make a positive impact on our climate whilst still focussing on optimising growth for our customers.

For more information on the fund options see our website and the Key Information Documents for each fund available.

Did you know? We assess companies on 5 key factors before we invest into them, including their green revenues and carbon intensity. Find out more about our climate friendly investments.

Can I switch funds if I am not happy with the fund I have chosen?

Can I transfer products held with another provider to the OneFamily ISA?

Can I transfer my OneFamily ISA to another provider’s ISA?

How can I keep up to date with my account?

Our ISA account is managed via our online service. You will be required to sign up for this service as part of the application process.

Using this service, you can access your account information and up to date valuation at any time 24/7, we will also upload quarterly statements. We will email you when statements are available.

It is important that you ensure your details (in particular your email address) are kept up to date so we can continue to provide you with this service.

Can I withdraw my money?

You can withdraw some, or all, your money at any time. If you would like to withdraw some of your money you will be required to leave the minimum account balance of £250 within your account.

If you take all of your money, we will close the account and you may not be able to open another stocks and shares ISA with another provider until the next tax year.

If you would like to move your ISA to an ISA with another provider, we recommend you use the transfer process by contacting the new provider.

Can I change my mind?

Yes. Once we have accepted your application and your first contribution, you will have 30 days to cancel your account.

When you cancel and your money has already been invested in a fund, the money refunded to you could be less than you paid in if there’s been an investment loss.

If we don’t have details of where to return you money (e.g. a bank account) this may delay the return of your investment to you.