# You can now open an ISA through your Monzo app 🎉 **URL:** \ **Category:** News & Updates\ **Created:** [4 April 2019 12:59 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228 "2019-04-04T12:59:18Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![cookywook](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/cookywook/32/24136_2.png) [@cookywook](https://community.monzo.com/u/cookywook)\ **Post date:** [4 April 2019 12:59 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/1 "2019-04-04T12:59:18Z")
Introducing: ISAs! > **[You can now open an ISA through your Monzo app 🎉](https://monzo.com/blog/2019/04/04/launching-isas/)** > > Save money in a Pot without paying tax on the interest you earn. Just in time for the new tax year. ---
**Author:** ![Tropiqz](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/tropiqz/32/49257_2.png) [@Tropiqz](https://community.monzo.com/u/Tropiqz)\ **Post date:** [4 April 2019 13:13 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/2 "2019-04-04T13:13:32Z")
Out of interest (_pardon the pun_) how competitive is the 1.14% compared to other high street banks? ---
**Author:** ![gmclean](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/gmclean/32/47932_2.png) [@gmclean](https://community.monzo.com/u/gmclean)\ **Post date:** [4 April 2019 13:14 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/3 "2019-04-04T13:14:44Z")
Let me just Google that for you… 🙄 ---
**Author:** ![andrewpclark](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/andrewpclark/32/32054_2.png) [@andrewpclark](https://community.monzo.com/u/andrewpclark)\ **Post date:** [4 April 2019 13:18 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/4 "2019-04-04T13:18:15Z")
Just for the avoidance of doubt. I have a 20K allowance for ISAs. I can open a Cash ISA with Monzo and a Stocks and Shares ISA with Freetrade and as long as I don’t go over 20K we’re cool? As it happens I’ll be lucky to save a fraction of that but just want to check I’ve got the rules down. Seems simpler than I thought! ---
**Author:** ![JustJordds](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justjordds/32/29498_2.png) [@JustJordds](https://community.monzo.com/u/JustJordds)\ **Post date:** [4 April 2019 13:21 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/5 "2019-04-04T13:21:59Z")
Yep! You have ÂŁ20,000 for all of your ISAs (some ISAs have specific rules - LISA and Help to Buy ISA) but in general your overall allowance for this Tax Year is ÂŁ20,000. You can only open and pay into one of each type of ISA in any tax year though. But a S&S ISA and Cash ISA are different types! ---
**Author:** ![anon16827915](https://avatars.discourse-cdn.com/v4/letter/a/a183cd/32.png) [@anon16827915](https://community.monzo.com/u/anon16827915)\ **Post date:** [4 April 2019 13:22 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/6 "2019-04-04T13:22:20Z")
Well interestingly OakNorth themselves offers a [1.44% AER easy access ISA account,](https://www.oaknorth.com/savings/personal-savings/personal-easy-access-cash-isa/) amid with a minimum balance of £1,000. The 0.30% difference seems a bit steep for the convenience if you can meet the minimum balance… ---
**Author:** ![JustJordds](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justjordds/32/29498_2.png) [@JustJordds](https://community.monzo.com/u/JustJordds)\ **Post date:** [4 April 2019 13:24 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/7 "2019-04-04T13:24:18Z")
@cookywook or @simonb Could you let us know if these ISAs are flexible? The Which? article a week or so ago said they were, but nothing Monzo has put out has suggested it is. What’s more is the “normal” OakNorth ISAs aren’t flexible. Would be great if it could be cleared up! ---
**Author:** ![Chalky](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/chalky/32/20366_2.png) [@Chalky](https://community.monzo.com/u/Chalky)\ **Post date:** [4 April 2019 13:24 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/8 "2019-04-04T13:24:37Z")
Don’t appear to be working. I still get the Investec flow and then told I can’t have one because you’ve stopped them. ---
**Author:** ![Chalky](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/chalky/32/20366_2.png) [@Chalky](https://community.monzo.com/u/Chalky)\ **Post date:** [4 April 2019 13:26 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/9 "2019-04-04T13:26:10Z")
The screenshot in the blog suggests Next Working Day like the Investec Savings Pot. Although screenshot doesn’t necessarily match real life! ---
**Author:** ![anon16827915](https://avatars.discourse-cdn.com/v4/letter/a/a183cd/32.png) [@anon16827915](https://community.monzo.com/u/anon16827915)\ **Post date:** [4 April 2019 13:29 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/11 "2019-04-04T13:29:23Z")
I was confused about @JustJordds’s question initially as well, but I think he doesn’t mean easy access but instead “flexible ISA”, which is a type of ISA that allows you to take money out and put it back in within the same tax year without affecting the yearly allowance! ---
**Author:** ![JustJordds](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justjordds/32/29498_2.png) [@JustJordds](https://community.monzo.com/u/JustJordds)\ **Post date:** [4 April 2019 13:30 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/12 "2019-04-04T13:30:14Z")
“Easy Access” and “Flexible ISAs” are slightly different terms. If an ISA is “Flexible” it means that say you have £5,000 in the ISA, and you take £1,000 out. Replacing that £1,000 won’t add onto your £20,000 limit. So in the example you’d still have only put in £5,000 towards you limit. However if not flexible and with the above example, your limit would be at £6,000 (the £5,000 you had in initially and the extra £1,000 to top back up to £5,000). It is quite an important feature to know if it applies as many on this forum will tell you. It isn’t bad if it isn’t but I’ve just seen some conflicting information on it. ---
**Author:** ![Chalky](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/chalky/32/20366_2.png) [@Chalky](https://community.monzo.com/u/Chalky)\ **Post date:** [4 April 2019 13:36 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/13 "2019-04-04T13:36:40Z")
I’ve found the issue, ISAs don’t work with Joint Accounts which makes sense. However, ISAs are now the Flexible Savings Pot seemingly replacing the Investec Pots. @cookywook are we going to get any kind of Flexible Savings Pot functionality back to Joint Accounts or is this another aspect where the Joint Account is going to be neglected? ---
**Author:** ![o99](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/o99/32/83033_2.png) [@o99](https://community.monzo.com/u/o99)\ **Post date:** [4 April 2019 13:36 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/14 "2019-04-04T13:36:45Z")
> [@JustJordds](#): > > It isn’t bad if it isn’t Except for the fact that the container pot is being called a Flexible Savings Pot. This could (understandably) lead people into thinking it is a Flexible ISA even if it isn’t. They should really change that if its not a Flexible ISA. ---
**Author:** ![JustJordds](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justjordds/32/29498_2.png) [@JustJordds](https://community.monzo.com/u/JustJordds)\ **Post date:** [4 April 2019 13:38 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/15 "2019-04-04T13:38:16Z")
Yes sorry - I should’ve been clearer, I was more speaking in terms of the ISA itself. I think because we are getting more savings pots, hence the title - but would be good to get some _definitive_ answers on whether the ISAs are Flexible or _flexible_. ---
**Author:** ![o99](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/o99/32/83033_2.png) [@o99](https://community.monzo.com/u/o99)\ **Post date:** [4 April 2019 13:39 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/16 "2019-04-04T13:39:02Z")
I understand. Just using that as a lead off for the point I wanted to make. ---
**Author:** ![JustJordds](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justjordds/32/29498_2.png) [@JustJordds](https://community.monzo.com/u/JustJordds)\ **Post date:** [4 April 2019 13:39 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/17 "2019-04-04T13:39:22Z")
I think the non-ISA savings vehicles will likely (hopefully) be Joint Account compatible (nothing I’ve seen suggests this but it makes sense). ISAs naturally can’t be on a Joint Account as they are individual to the customer and their tax liabilities. ---
**Author:** ![JustJordds](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justjordds/32/29498_2.png) [@JustJordds](https://community.monzo.com/u/JustJordds)\ **Post date:** [4 April 2019 13:40 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/18 "2019-04-04T13:40:19Z")
Oh no I agree definitely! I think in the rush to push the ISAs out before the end of the Tax Year a couple of things just need clarifying. ---
**Author:** ![Chalky](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/chalky/32/20366_2.png) [@Chalky](https://community.monzo.com/u/Chalky)\ **Post date:** [4 April 2019 13:46 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/19 "2019-04-04T13:46:48Z")
> [@JustJordds](#): > > I think the non-ISA savings vehicles will likely (hopefully) be Joint Account compatible (nothing I’ve seen suggests this but it makes sense). What worries me is that the ISA replaces the Flexible Savings Pot on Personal Accounts so are they going to invest any time in creating a non-ISA replacement is what I’m asking @cookywook ---
**Author:** ![anon99402360](https://avatars.discourse-cdn.com/v4/letter/a/5e9695/32.png) [@anon99402360](https://community.monzo.com/u/anon99402360)\ **Post date:** [4 April 2019 13:48 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/20 "2019-04-04T13:48:46Z")
Yes. There’s further partnership with OakNorth planned. Both fixed and easy access accounts. ---
**Author:** ![JustJordds](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/justjordds/32/29498_2.png) [@JustJordds](https://community.monzo.com/u/JustJordds)\ **Post date:** [4 April 2019 13:48 UTC](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228/21 "2019-04-04T13:48:56Z")
The Which? article I mentioned has stated we are expecting 6 savings vehicles (2 ISAs - 1 being this one) and 4 savings accounts: - instant-access account, 1% AER - six-month fixed-term account, 1.36% AER - nine-month fixed-term account, 1.46% AER - 12-month fixed-term account, 1.53% AER - instant-access cash Isa, 1.14% AER - 12-month fixed-term cash Isa, 1.38% AER I would therefore speculate that those 4 non-ISA vehicles could very well come to Joint Accounts. Link to Which? Article - [Monzo Savings Pots - Which?](https://www.which.co.uk/news/2019/03/monzo-to-offer-1-55-interest-on-its-savings-pots-but-are-the-rates-any-good/) [Next page](https://community.monzo.com/t/you-can-now-open-an-isa-through-your-monzo-app/64228.md?page=2)