Founded in 1923, Swansea Building Society is an independent mutual building society based in Swansea, Wales. It is a member of the Building Societies Association.
Cash ISA
Swansea Building Society’s Cash ISA is a savings account where all of the interest earned is tax free and doesn’t form part of your Personal Savings Allowance. The ISA allowance for the 2020/2021 tax year is £20,000. Cash ISAs are flexible which means you can withdraw money from the current tax year or previous tax years if you need to, up to a maximum cash withdrawal on demand of £1,000 per day. The interest rate is variable 0.60% AER. The minimum opening and operating balance £1 and the overall ISA subscription limit for 2020-2021 is £20,000.
Junior ISA
Swansea’s Building Society’s Junior Cash ISA is a tax free account especially for children under 18 years of age. It earns interest at a variable rate of 1.50% AER. The minimum opening and operating balance £1 and the overall JISA allowance for 2020-2021 is £9,000. No withdrawals are allowed before the child’s 18th birthday.
Other Services
Swansea Building Society offers a range of savings and mortgage products.
Swansea Building Society Reviews and Ratings
There are currently no online reviews for Swansea Building Society.
Pros
- Minimum investment is £1
- Withdraw money from your Cash ISA account at any time without notice or penalty
- Transfers in and out allowed
- A range of useful forms and downloadable content
- FSCS protected
Cons
- To open an account, you must be resident in Wales
- Cash ISAs and Junior ISAs only
- Lifetime ISAs, Stocks and Shares ISAs and other ISA products not available
- Maximum cash withdrawal per customer per day limited to £1,000 for the Cash ISA
- Information on website is difficult to digest
- A lack of helpful online tools, guides or downloadable content
- No online reviews or product feedback available
Website: Swansea Building Society