Since the Lifetime ISA was announced I've been searching for a reputable bank that is going to be offering it out.

It is a fantastic scheme and I would love to open an account.

However, none of the main banks seem to be offering the account and I'm at a loss as to why... this is a government scheme that I thought banks had to offer.

I've personally gone in and spoken to and been turned away by:

  • Santander
  • Halifax
  • Barclays
  • Metro
  • Lloyds

all claiming that they are either outright not going to supply the scheme or that they have no information / no idea about the scheme.

I did some further research and came across this article by Which? Lifetime Isas

Which provides a table on who is offering the scheme. According to this data it states that there are three companies offering the Lifetime ISA, all companies I've never heard of and would not trust with my money.

Why would the banks be avoiding offering the scheme? I feel this is down to them not wanting people to use it as an alternative to a pension, but not really sure.

Is anyone able to shed some light as to why this is case? I've been avoiding using my cash ISA so far this financial year but feel I'm losing out by doing this.

  • 7
    I'm not sure how you haven't heard of and/or wouldn't trust Hargreaves Lansdown. They're relatively old for a brokerage of their type and very well regarded. I've heard many potential reasons why traditional retail banks aren't offering LISAs but that was all City gossip.
    – MD-Tech
    Commented Jun 8, 2017 at 15:37
  • I'm afraid I haven't @MD-Tech ! But I will look into them further.
    – Joe
    Commented Jun 8, 2017 at 15:39
  • 1
    The question says 'a reputable Bank'… I would argue that Hargreaves Lansdown is more reputable than the UK's main banking groups. A FTSE 100 company, they pay all their taxes in the UK, have never been bailed out, never fined for misselling and never had client data breached. Commented Jun 9, 2017 at 9:33

1 Answer 1


The Skipton Building Society has recently announced that it is offering a cash LISA. According to the papers it is the first to offer a cash LISA. Skipton is the UK's 4th largest UK Building Society and has been in existence since 1853.

There are other providers of LISAs such as Hargreaves Landsdown. Hargreaves Lansdown is listed on the FTSE 100 i.e. it's one of the largest 100 companies with a UK stock market listing.

Stocks and Shares and Cash LISAs are quite different so you need to decide which type you want before deciding where you want to get one from. You can switch from one to another at a later date if you so wish but you may need to switch providers to do so.

  • Thank you Robert, that is very helpful. I'm looking for a cash ISA, not Stocks and Shares at this stage. I will look into Skipton further too.
    – Joe
    Commented Jun 9, 2017 at 8:22

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