When to switch your ISA

poor_and_happy?

Hello!

I took out an ISA in September which following Mr Lewis' advice, was the best rate at the time with HSBC. The rate has bombed and there are better deals out there now, so my question is: I have £3600+interest in my ISA at the moment and would like to add a further £3600 after April.

If I took out a new ISA now, can I take it out of HSBC to put it into the new ISA, and then can I still add my new £3600 after April? Is it advisable to switch around on ISA's?

Any advice greatly appreciated!

Thank you

doire_2

poor_and_happy? wrote: »

Hello!

I took out an ISA in September which following Mr Lewis' advice, was the best rate at the time with HSBC. The rate has bombed and there are better deals out there now, so my question is: I have £3600+interest in my ISA at the moment and would like to add a further £3600 after April.

If I took out a new ISA now, can I take it out of HSBC to put it into the new ISA, and then can I still add my new £3600 after April? Is it advisable to switch around on ISA's?

Any advice greatly appreciated!

Thank you

You dont take it out. You find those offering better rate of ISA and get them to transfer the money for you.

Yes you can add funds once the new tax year begins in April.

To be honest there isnt much difference in rates nowadays