Does accrued interest get transferred?

SiKent

Hi,

I have last years Cash ISA limit to transfer over to a different ISA this year, in order to keep the interest decent. I used the full cash ISA limit last year, and am unsure if the accrued interest can be transferred over? Or do I get the accrued money from interest paid separately after I have transferred last years full entitlement over to a different bank / building society?

Thanks,
Si

evenasus

The interest will be transferred, along with the funds you've put in.

SiKent

Great! That is exactly what I was hoping. Thanks for the very quick reply too.

thenudeone

Depends what options you selectd when applying:

If you ticked the option "transfer entire balance and close account" (or similar) then it would all be transferred.

If you ticked "partial transfer" and entered a value, then only that value will be transferred, the rest will stay where it was (although you can do another transfer if you want).