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Isa interest
hairclip_2
Posts: 17 Forumite
Hi All.
Quick Q! If I transfer my existing ISA balance over to a fixed rate 2 year ISA with another provider, what happens to any interest I have accrued to date. Is that calculated accordingly and transfered with the balance over to my new account.
Or do i just loose it as interest is calculated annually. Sorry may seem like a daft question but can someone help pls!
Quick Q! If I transfer my existing ISA balance over to a fixed rate 2 year ISA with another provider, what happens to any interest I have accrued to date. Is that calculated accordingly and transfered with the balance over to my new account.
Or do i just loose it as interest is calculated annually. Sorry may seem like a daft question but can someone help pls!
0
Comments
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You complete the new provider's transfer form, which they send to your current provider.
The current provider then calculates the interest due up to the date of transfer and closure of your old account and forwards the full account balance (capital & interest) to the new provider.0
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