What types of accounts can I open at Wealthsimple?

We currently offer 2 types of account (more to come):

1) ISA
An Individual Savings Account or ISA is a type of account for holding cash and investments, and one of the most popular accounts for UK tax payers, as you do not have to pay any UK income tax or capital gains tax on the growth.

You have to be a UK tax payer of 18 years of age and not have taken out an ISA this year. You can invest up to the annual limit set by the government each year. This year it’s £20,000.

2) Personal investment account
Like an ISA, a personal account is an account for holding cash and investments. Unlike an ISA you may be liable for UK income tax and UK capital gains on the growth, depending on your personal tax circumstances.
There are also no investment limits and can be held by UK tax-payers and non-UK tax-payers alike.

If you have already used your annual allowance of £20,000 or are a non-UK tax-payer, and want to save more you will need to open a personal account.

For both of these accounts you can transfer any existing personal account with another provider to us easily and free of charge. While you are getting your account set up, you can instruct us to get the transfer moving and we will do the heavy lifting for you.

If you're not sure which account is right for you, we can help! Please get in touch at support@wealthsimple.com or 0800 808 5653

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