ISA transfers - sorry if this is a daft question.

d712

Hello

I'm considering the Alliance & Leicester Flexible ISA. It doesn't allow transfers in but it does allow you to make further deposits over the course of the year. For this, I'm thinking of using money I was going to put into my Halifax ISA at the start of the next tax year.

After one year, it reverts to a variable tax free rate of 0.5%. At which point, I would be looking to transfer it elsewhere.

Is there any reason that would prevent me doing this? Are there any ISAs which prevent transfers OUT or only allow them under specific conditions?

Thanks

Baldur

Easy access Cash ISAs, such as the A&L/Santander one have no such restrictions - some fixed rate and regular savings ISAs can have conditions/penalties for early withdrawal, etc.

Your funds will be flooding out of A&L along with those of most other people as soon as the bonus rate ends.