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Lloyds investment ISA review: Is it worth it?
Disclaimer: The information in this article is for reference purposes only. Wise does not offer to buy or sell stocks, and all information on this page should not be considered financial advice. All investment decisions should be made after thorough research and consultation with a qualified financial advisor. Remember that investments, even in low-risk funds, are never guaranteed and your capital is at risk.
Considering investing with a stocks and shares ISA? There are quite a few investment ISAs available in the UK, including options from banks such as Lloyds.
To find out if this is the right ISA for you, read on.
We’ve put together a complete Lloyds investment ISA review covering everything you need to know. This includes eligibility, features, fees and how to start trading stocks with your ISA.
So, let’s dive right in.
Who the Lloyds investment ISA is best for?
Lloyds investment ISAs can be used by anyone looking to invest long-term and benefit from tax-free earnings, subject to current tax rules.
There are options for both new and more experienced investors.
You can open a Lloyds Investment ISA and choose a ready-made portfolio, with an expert managing your fund for you. Or if you have more experience and want to choose and manage your investments yourself, you can open a Lloyds Share Dealing ISA.
Both options are good for people comfortable with making and managing investments online rather than in-person.
Read more about how stocks and shares ISAs work below.
📚How stocks and shares ISAs work
Who can open an account?
To be eligible for a Lloyds investment ISA, you’ll need to meet the following requirements:1
- You’re a UK resident for tax purposes
- You’re at least 18 years old
- You’re not a resident of the US (or Canada, for the Share Dealing ISA²).
If you want to open an Investment ISA and benefit from Ready-Made Investments, you’ll need to be an existing customer with access to Lloyds online banking.1 The Share Dealing ISA is open to both new and existing customers.
To apply, you’ll need your address, debit card details and National Insurance (NI) number.
Read more about how ISAs work in general in the UK below.
What currencies are supported?
Lloyds investment ISAs are denominated in British pounds (GBP), and all trades will be carried out in GBP.2
This doesn’t mean that international stocks and other investment products aren’t included, but it does mean that currency conversions will be required. For accounts such as the Share Dealing ISA, this may mean a currency conversion fee of 1%.3
Lloyds investment ISA features
Now, let’s take a look at the key features of both the Lloyds Investment ISA (Ready-Made Investing) and Lloyds Share Dealing ISA.
Lloyds Investment ISA (Ready-Made Investing) features:4
- Start investing with just £50 a month or a one-off deposit of £500
- Choice of 3 ready-made investment options, based on the level of risk you’re comfortable with - Cautious, Balanced or Progressive
- Manage investments via online banking or the Lloyds mobile banking app
- All funds are managed by experienced investment managers.
Lloyds Share Dealing ISA features:3
- Create and manage your own portfolio, choosing from a wide range of investment options including UK and international shares, Exchange Traded Funds (ETFs), funds, bonds and gilts.
- Free regular investments
- Investment tools, including ETF Quicklist
- Manage investments via online banking or the Lloyds mobile banking app.
Lloyds investment ISA fees and charges
Before you open any kind of ISA or investment account, you’ll need to know exactly how much it’s going to cost you.
Here are the main fees and charges you need to know about for Lloyds investment ISAs:
| Fee | Lloyds Investment ISA (Ready-Made Investing4 | Lloyds Share Dealing ISA5 |
|---|---|---|
| Account fees | £3/month | £40/year |
| Ongoing fund fees | 0.22% to 0.24% | 0.25% to 1.5% |
| Trading/commission fees | 0.11% to 0.22% |
|
| Withdrawal fees | None | None |
Does the Lloyds investment ISA have an account fee?
Both Lloyds investment ISAs have an account fee. This is:
- £3 per month for the Lloyds Investment ISA (Ready-Made Investing)4
- £20 per 6 months (£40 a year) for the Lloyds Share Dealing ISA.5
There are also ongoing fund management fees to factor in.
Trading fees with Lloyds investment ISA
Alongside the account and fund fees, you’ll also pay trading fees with an investment ISA. These are often called ‘transaction costs’ or commission fees.
These fees are between 0.11% to 0.22% for the Lloyds Investment ISA (Ready-Made Investing), depending which fund you’ve chosen.4
For the Lloyds Share Dealing ISA, the trading fees are:5
- £11 for UK shares, which drops to £8 per trade when you trade 8 or more times within the quarter
- £0 for international trades, but the FX charge of 1% will apply for currency conversion for trades not in GBP
- £1.50 for funds
- £0 for regular investments.
How much does Lloyds investment ISA charge for UK stocks?
If you buy UK shares with a Lloyds Share Dealing ISA, you’ll pay £11 per trade (buying or selling). This drops to £8 per trade when you make 8 or more transactions within the quarter.5
Lloyds investment ISA withdrawal fees
Lloyds doesn’t mention a charge for cash withdrawals from either of its investment ISAs, so you should be able to withdraw freely. To make sure though, you might just want to check with the bank before making a withdrawal.
Lloyds investment ISA commission fees
Lloyds generally doesn’t charge any additional commission fees, as it's all covered under the account and trading costs.
How to buy stock with Lloyds investment ISA
If you have a Lloyds Investment ISA (Ready-Made Investments), your account manager will handle the whole process of buying stock and other investments on your behalf.
With a Lloyds Share Dealing ISA though, you have full control. Here’s how to buy stock, step-by-step:6
- Sign into Lloyds online banking, the Lloyds mobile banking app or the Lloyds Direct Investments login page
- Select ‘Dealing’ from the menu
- Choose the type of investment
- Select ‘buy’ and enter either the company code or stock company name
- Enter either the number of value of stock you’d like to buy
- Check the details and price, and confirm.
You’ll need to make sure you have funded your account with enough money to cover the trade.
For more info, read our guide to buying shares in the UK below.
Buying stock in another currency?
Buying or selling a stock or shares that aren’t traded in your local currency? Don’t let the currency conversion trip you up. Convert your stocks or shares into any currency with our handy tool, and you’ll always know what you’re getting.
Check out our international stock ticker tool.
Explore international stocks 🌍
Disclaimer: Wise's international stock ticker provides information for reference purposes only. This tool and platform does not offer to buy or sell stocks, and the data displayed here should not be considered financial advice. All investment decisions should be made after thorough research and consultation with a qualified financial advisor. We make no guarantees regarding the accuracy or completeness of the information provided, and users should exercise caution and seek professional guidance when making investment choices.
How is the Lloyds investment ISA mobile app?
You can use the Lloyds mobile banking app for managing your investment ISA, as well as your everyday banking.
It’s available for both Android and iOS devices, and lets you check in on your portfolio at any time.
Lloyds investment ISA customer service
If you need help with your Lloyds investment ISA, you can contact customer services by live chat or phone.
Live chat is available Monday to Friday, 8am to 9pm.7
Alternatively, you can call the share dealing general enquiries line on 0345 606 0560, available Monday to Friday from 8am to 9pm.7
Alternatives to the Lloyds investment ISA
Lloyds Bank isn’t the only provider of stocks and shares ISAs in the UK. There are plenty of alternatives you can choose from, such as:
- Barclays Investment ISA
- Halifax Stocks and Shares ISA
- HSBC Stocks and Shares ISA
- NatWest Stocks and Shares ISA
- Moneybox Stocks and Shares ISA
- Trading 212 Stocks ISA
- Vanguard Stocks and Shares ISA.
You may also want to look into opening a cash ISA - see our guide to the best cash UK ISAs below.
FAQs about investing with Lloyds investment ISA
Can you withdraw cash from a Lloyds investment ISA?
Yes, you can withdraw cash from your investment ISA, as long as it's not tied up with any investments. If it is, you'll need to sell them first.
To make a withdrawal, login to your account and follow these steps:
- Select ‘fund and withdraw’ from the ‘account management’ menu
- Select ‘withdraw money out to’ from your chosen account
- Enter the amount you’d like to withdraw and click ‘continue’.
How long does it take to withdraw from Lloyds investment ISA?
Lloyds doesn’t say how long it takes for withdrawn funds to arrive in your bank account. But it may depend on when you make the request, as investments can only be sold during market hours. After this happens, you should receive the money in your nominated bank account pretty quickly.
How to close a Lloyds investments ISA?
It may not be possible to close your Lloyds investment ISA online, in which case you’ll need to contact the bank directly.
Grow your international money with Wise
Not sure about using a stocks and shares ISA to help you save?
With a Wise account, you can earn a return by investing your GBP, EUR and USD, and choose how your money is used. Simply select your chosen currency then under ‘Options’, select ‘Earn’ and choose ‘Stocks’ or ‘Interest’.
All your money is held as ‘cash’ by default, so you can’t earn a return on what you spend, but it isn’t at risk in the market.
If you select the ‘Stocks’ option, we’ll invest some or all of your money (you can choose to allocate all or part of your chosen currency) in the index tracking fund we’ve chosen.
And if you opt for Wise Interest you can choose to give us permission to invest all or some of your money in the interest-earning fund we’ve chosen, this will depend on the currency.
Wise Interest can help grow your international money and start earning a return on the pounds, euros and dollars in your account. When you use Wise Interest, you can send and spend your money whenever you want, including your gains and you can transfer up to 10,000 GBP (or equivalent) each day from Interest currencies. Anything above will add a processing time of up to 2 working days.
To protect your account, we may occasionally need to temporarily limit the amount of money you can withdraw, send, or spend daily. In this case you’d still get full access to your money within 2 working days.
We invest your money in government-backed asset funds. This means that when the central bank rates change, your return does too. You can check the 7 day past performance on the Wise Interest page. Past performance doesn't guarantee future growth.
Consider turning on Wise Interest, which could help grow your money. Capital at risk. Growth not guaranteed.
Learn more about Wise Interest
Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.
Sources used for this article:
1. Lloyds - ISA features
2. Lloyds - terms and conditions
3. Lloyds - Share Dealing ISA
4. Lloyds - ready-made investments
5. Lloyds - costs and charges
6. Lloyds - investing help and guidance
7. Lloyds - contact page
Sources last checked on 28-May-2025
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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