What happens to Annual Interest on ISA if transferred early?

sharpharp

Got an ISA with the Halifax last year, which the numpties didn't process till June.

The ISA is annual interest based, so my question is: Can I transfer this ISA somewhere else NOW and recieve all the interest accrued upto now, or will I get penalised for moving early?
Or is it best to wait till June, then ditch and switch?

Any ideas?

blueberrypie

Depends. Is it a fixed-rate ISA? If so, there'll be a fixed term too, so if you withdraw or transfer early there'll be a penalty.

If it's an instant-access ISA, it doesn't matter *when* the interest is usually paid, because if you close it the interest will be calculated up to the date of closure and added to the balance anyway. Same if you transfer the full amount out - they'll add the interest before closing and transferring.