Trading 212 vs Plum: Easy Access Cash ISAs Now Over 5%

Easy access cash ISA rates are moving in the right direction for once. Two app-based providers, Trading 212 and Plum, are now paying over 5% on new money, comfortably clear of the best high street options.

The catch is that both rates are built on a 12-month bonus, and what's left once the bonus falls away is very different between the two. If you're choosing between them, the underlying rate matters more than the headline.

Trading 212 cash ISA: 5.01%

Trading 212's cash ISA tracks the Bank of England base rate, sitting 0.15 percentage points below it. That gives an underlying rate of 3.60%, with a 1.41% new customer bonus for 12 months on top when you open through our link.

What we like:

• Fully flexible. Withdraw and replace money in the same tax year without touching your allowance.

• No withdrawal limits. Genuinely easy access.

• £1 minimum. No balance conditions to keep the rate.

• The underlying rate is decent. When the bonus expires you're still on 3.60%, which beats most easy access ISAs without any bonus.

What to watch:

• The bonus only applies to current tax year money. Transfer in an ISA with previous years' subscriptions and that older money earns the standard 3.60%, not the boosted rate.

• It's a tracker. If the base rate falls, so does your rate, on the same day.

• Trading 212 is an investment platform rather than a bank. The cash ISA itself is held with partner banks and covered by FSCS, but it's worth knowing who you're dealing with.

Open a Trading 212 cash ISA →

Plum cash ISA: 5.00%

Plum's headline rate is almost identical for new money, and it's also a flexible ISA with a £1 opening deposit. The similarity ends there.

• The underlying rate is 2.54%. Once the 12-month bonus ends, Plum's rate roughly halves. On £20,000 that's the difference between £720 a year and £508.

• Transfers get a lower rate. Plum pays a separate, lower rate on money transferred from other ISAs, so it's not the place to bring old ISA cash.

• Withdrawal and balance conditions. Plum limits withdrawals and requires a £100 minimum balance, with the rate dropping sharply if you breach either. Read the terms before opening.

Plum is fine as a one-year home for this tax year's ISA allowance if you're disciplined about moving when the bonus ends. As a set-and-forget account, Trading 212 is the stronger of the two.

See the Plum cash ISA →

Transferring old ISA money? Look elsewhere

Neither Trading 212 nor Plum is the right choice if your priority is moving previous years' ISA cash.

Chip pays 4.50% on both new money and transfers, split as 3.50% variable plus a 1% bonus for 12 months. The trade-off is a 10–31 day interest penalty if you close the account or transfer out, so it's not one to dip in and out of.

Charter Savings Bank pays 4.26% with no bonus, unlimited withdrawals and transfers in accepted. It's lower, but it's the rate you'll actually get in 18 months' time without lifting a finger.

Which one should you pick?

• New money, want the best rate with the least hassle: Trading 212.

• New money, happy to switch again in 12 months: Plum is a close second, but the year-two rate makes it a worse default.

• Transferring old ISA cash and want the top rate: Chip.

• Transferring and don't want penalties or bonuses: Charter Savings Bank.

What to do when the bonus ends

Every account here except Charter relies on a 12-month bonus, and the providers are counting on you forgetting. Set a reminder for 11 months from opening. The best easy access cash ISA next year will almost certainly not be the one you opened this year, and moving is free.

All rates are correct as of 25 September 2026 and are variable. Our live table above updates as providers change their rates.