my abbey isa

rikih

hello all, i need some help. i know this has probably been post many times befire so sorry in advance!

i have a abbey mini cash isa and with the new tax year approaching i am thinking about putting in a extra 300 pounds before the interest gets paid.
do all isa's get paid interest on the 1st of april? as i am thinking of moving my money to a a&l isa as it is has a better interest rate than my current one.

any ideas or answers would be great! im a beginner money saver thanks all
rick.

Kazza242

rikih wrote:

hello all, i need some help. i know this has probably been post many times befire so sorry in advance!

i have a abbey mini cash isa and with the new tax year approaching i am thinking about putting in a extra 300 pounds before the interest gets paid.

any ideas or answers would be great! im a beginner money saver thanks all
rick.

If you haven't completely used up your £3,000 mini cash isa allowance for this tax year (ending 5th April 2006), then it is a good idea to top it up if you can. Remember, though, that while interest is usually paid once a year, it is actually calculated daily. This means you only receive interest on the money for the time it has been in your account.

rikih wrote:

do all isa's get paid interest on the 1st of april? as i am thinking of moving my money to a a&l isa as it is has a better interest rate than my current one.

Not all isa's pay interest on the 1st of April. If you wish to transfer your existing mini cash isa to a another provider you don't have to wait. When your isa is transferred to another provider, your account balance + interest (accrued up to that point) will be transferred in to the new account.

* Please note: Do not try to move the money yourself, as it will lose it's tax-free status. You need to ask the provider you wish to transfer to, to handle the transfer for you.