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 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.

 

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