Switching ISA

jetsetwilly_2

HI

I have around £6600 (2 years worth) of ISA with A&L. They pay interest on Dec31st each year. The rate has dropped to 2%.

I plan to switch to Natwest.

I am a little confused

How do I switch so that the £6600 keeps within an ISA and earns interest?
What will happen to interest earned since Jan 1st with A&L?

When it moves to Nat West, will it earn interest up to Apr 09?

Any help please

tanith

You check that the Natwest ISA accepts transfers in first.. then if it does just apply to Natwest stating that you wish to do an ISA transfer only and usually they do all the work of actually transferring the money.

A & L will add the interest before transferring to Natwest.

When it moves to Natwest it will just sit there earning interest till you move it again when their rate falls .