ISA - Monthly / Annual interest

balsingh

HI,

Have a simple query on ISA interest. My current ISA is with Standard Life and pays me interest every month.

If I transfer to an ISA that pays interest annually and decide to move it before the interest is paid, will I forefit all interest? ie. do I have until the interest is paid before I can move my money.

Reason I ask is because I am looking at the Nationwise e-ISA which pays interest annually. If for soem reason I hav to pull the money early, will I forefit all the interest???

Thanks in advance.

Derivative

No. On all accounts that I am aware of, interest is calculated daily. You'll recieve interest on account closure up to that date.

Works the same with monthly and annual interest (if it is indeed an easy access account). Note that some providers do have conditions such as withdrawals forfeiting 180 days interest, however this is rare. MSE generally has info on such caveats on the ISA page.