ISA accounts, or ISA’s as they are often known, provide tax incentives for individuals to save. There are two main types of ISA, being a Cash ISA, or an Investment ISA. A Cash ISA is basically a savings account which offers tax benefits to investors, which would not normally be available using a current account. An Investment ISA is a wrapper, through which you purchase shares and other stocks, and again this offers tax benefits to the investor.

Some ISA providers will require different notice periods to remove cash and sell shares, so if you require your money instantly, make sure that you select an account which is relevant.

It is recommended that you seek financial advice prior to entering into an ISA, particularly an Investment ISA, as the value of the investment may go down as well as up, so it is important to understand your exposure.