ISA querys

sazandy25

Hi, me and my wife both have a cash ISA with natwest, paying 2% interest. We both have between £2,000 & £3,000 in.
We have both paid in to it this tax year, not upto the limit (haven't got that amount of money ).

Was looking at transferring to the

Marks & Spencer, 3% AER Unlimited access. Transfers allowed.

I know its only £20 extra interest a year, but its money.

Do we transfer now? Wait until nearer the end of tax year (will better offers appear)? Or wait until next tax year (not pay into our current isas) and look at starting up a new one eg.not having to look for an ISA that accepts tranfers

Thanks

Mikeyorks

Transfer now. You can always move it again if (unlikely) something significantly better appears. There's little point in your final option :

Or wait until next tax year (not pay into our current isas) and look at starting up a new one eg.not having to look for an ISA that accepts tranfers

......... as the 2% isn't going to get better? By moving now you have both options 1) Continue your next year allowance into M&S at 3% or 2) Open a better one for the next year that doesn't accept transfers in.

A complete alternative. Is to wait and see if a much better rate pops up (tends not to accept transfers) around 6/4 and close your existing ISA and pay that + any new funds in. Clearly not recommended if you're going to exceed £5640 in total for 12-13.