Sorry if this has been answered - can you transfer out at ANY time?

moneymayweather

I just signed up to First Direct ISA, in November 2010 it will lose its 3% rate and I will transfer out. How easy would it be to transfer out, and could I do that BEFORE November 2010, or would it have to be on or after?

Also, what if I wanted to just switch to a regular account and close the ISA, how easy is this?

kingmonkey

You can transfer out at any time.

Closing an ISA is just as easy as closing any other account.

lisyloo

I would advise you to do it several weeks before 10the November.
Ths is because it can take a while to transfer an ISA and you don't want to get the 0.2% rate.

I keep a spreadsheet with all my dates in it - cat MOT, insurance, car tax, ISA dates etc, etc, so it's all in one place.

agsnu

kingmonkey wrote: »

You can transfer out at any time.

Closing an ISA is just as easy as closing any other account.

That's not quite true. If you wish to maintain your ISA status, you will need to complete an ISA transfer form, which you then give to the new provider, who send it on to the old provider, and the funds are moved directly. This is a fairly labour-intensive and error-prone process, which often takes a non-trivial amount of time (weeks).