Cash ISA Transfer Service eligibility criteria
To use the Cash ISA Transfer Service a participant must meet the following eligibility criteria:
Carry out business and operate an office within the UK and European Economic Area (EEA)
Be approved to offer ISA products by HMRC
Have relevant FCA permissions
Have the ability to comply on a continuous basis with the technical and operational requirements of the Cash ISA Transfer Service as set out in the operational documents relating to that service from time-to-time
Have completed a Direct Debit Instruction to enable payment of charges referred to below
Pay the agreed charges for usage of the Cash ISA Transfer Service and any other transaction based costs that may apply
Agree to be bound by the Guide and Rules to the Cash ISA Transfer Service
Provide details of anticipated annual volumes of automated Cash ISA Transfers. This information shall be supplied to a designated official of Pay.UK who is under duty not to disclose the information to other participants other than in aggregate form for planning purposes
Be able to send and receive CHAPS and/or Faster Payments (and/or by exception only Bacs payments) – this may be through an agency agreement.