FREQUENTLY ASKED QUESTIONS
Can I keep putting money into my Cash ISA externally from Silo?
Yes, you are able to have both a Cash and a Stocks & Shares ISA, but you have to make sure you stay within the £20,000 annual allowance across both. You can keep track of your contributions in app by updating the information under 'ISAs' in 'Account'.
Can I transfer my current ISA into Silo?
Yes, you can transfer an existing Cash and/or a Stocks & Shares ISA into Silo. If you have any questions about how, please contact our support team at <a href="mailto:[email protected]" target="_blank" rel="noopener">[email protected]</a>
What is a General Investment Account?
A General Investment Account is a normal taxable investment account which doesn’t have the same tax benefits as an ISA, however, there is no annual limit to how much you can save and invest within it.
What is an ISA?
Every UK resident has the ability to save and invest up to a maximum of £20,000 per annum in a tax free environment, otherwise known as the Individual Savings Account (ISA). You can save in both a Cash and/or a Stocks & Shares ISA, but you are only allowed to open one of each, every year.
What type of account can I open in Silo?
Currently you can open a Stocks & Shares ISA or a General Investment Account (GIA) in Silo.