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Transferring cash ISA with annual interest

casper_g
casper_g Posts: 1,110 Forumite
in Savings & investments
I have a Nationwide "e-ISA" cash ISA, which I opened last August. Interest is paid annually on 31st August. If I transfer the ISA to another provider before the 31st August this year, what will Nationwide do about the interest I am owed? When they receive the transfer request, will they calculate the amount of interest earned and add it to the balance before transferring?

Sorry if this is a daft question, but I couldn't find the answer on the Nationwide website or in any of the documentation I have.

Comments

  • le_loup
    le_loup Posts: 4,047 Forumite
    Yes, they will.
  • Lokolo_2
    Lokolo_2 Posts: 1,012 Forumite
    First Post Name Dropper First Anniversary
    le_loup wrote: »
    Yes, they will.

    Le Loup is correct,

    Interest is calculated daily on your savings but only added annually, so you will get paid the interest accrued up to the point when you close your account (or transfer in your case) :j
This discussion has been closed.
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