Alliance & Leicester ISA @ 5.2%

David_B_2

Hi,

I like a few others have decided to go for the Alliance & Leicester ISA at 5.2%. I have money in a Halifax ISA at present and the interest is due to be paid on April 6th. I see that the A&L accounts get interest paid on January 1st. So my simply question is, I’m guessing I wait until after April to make sure I get my Halifax interest before transferring my account to the A&L ISA, or will I get the April interest with the A&L account as well if I move it before?

Many thanks

grumbler

David_B wrote:

...I wait until after April to make sure I get my Halifax interest before transferring my account to the A&L ISA, or will I get the April interest with the A&L account as well?

If you transfer the whole ISA interest is added to the transferred balance. If you've made a desicion to transfer there is no point in waiting until April.

Judi101

I agree with Grumbler. Most savings accounts calculate interest on a daily basis. If you close the ISA with Halifax they should calculate the interest up to that date and add it to the closing balance they transfer for you. Its the way most savings accounts work.