ISAs and moving abroad
You must let us know as soon as you stop being a UK resident for tax purposes.
What happens to your account and ISAs?
Moving abroad permanently: If you are leaving the UK permanently, you will need to close your Monzo current account and your Monzo Savings Pots, including your Cash ISA.
Moving abroad temporarily: If you plan on returning to the UK, you can keep your Cash ISA open, but you will not be able to make any new contributions to it while you are a non-UK resident.
ISA rules for non-UK residents
While you are living abroad:
No new deposits: You cannot pay any new money into your Cash ISA (unless you are a Crown employee working overseas, or their spouse/civil partner).
Existing funds: Any money already in your Cash ISA will stay inside its tax-free wrapper and continue to earn interest.
Returning to the UK: Once you move back and become a UK tax resident again, you can resume paying into your ISA using your annual allowance.
For more detailed information on statutory residence rules and tax implications, check out the government guide on ISA non-resident guidance.
