Closing ISAs...

David333

Over the past couple of years I have opened a couple of years. However, I have recently withdrawn the money from them (to pay tuition fees) which means that they both have a balance of zero. I assume that there is no point having the ISA open because all of the best offers are for new customers. Should I go into the two banks and get them to close the ISA accounts? Thanks!

DreamerV

Have you paid in at all this tax year? If you have paid into one of them this tax year, you may want to leave that one open, as you won't be able to pay in elsewhere (I don't think you can transfer a zero balance to a better option then continue to pay in).

If you haven't paid into one (but plan to put some money into ISAs before the tax year ends), if the rate on the ISA accounts isn't as good as what is currently available, then I would close them to tidy up your accounts a little.