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What is a cash ISA?

Cash ISAs are savings accounts that pay interest free of Income Tax. Find out how they work, how to open one and if they are right for you. When might a Cash ISA be for you? Are Cash ISAs safe and secure? What happens if your Cash ISA goes wrong? Ready to start saving? When might a Cash ISA be for you?

What is cash & how does it work?

Cash is legal tender —currency or coins—that can be used to exchange goods, debt, or services. Sometimes it also includes the value of assets that can be easily converted into cash immediately, as reported by a company. Cash is also known as money, in physical form.

What is the difference between cash and money?

In economics, cash is money in the physical form of currency, such as banknotes and coins . In bookkeeping and financial accounting, cash is current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately (as in the case of money market accounts ).

Where did the word cash come from?

The English word "cash" originally meant "money box", and later came to have a secondary meaning "money". This secondary usage became the sole meaning in the 18th century. The word "cash" comes from the Middle French caisse ("money box"), which comes from the Old Italian cassa, and ultimately from the Latin capsa ("box").

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