Interest when transferring ISA

rufus86

I received a yearly interest payment on my ISA a couple of weeks ago.
The rate on my ISA drops substantially at the start of the next tax year. When I transfer to a new provider, does interest also get paid, and transferred, for the portion of time since my last interest payment? i.e about 6 weeks? or do I still wait another year for that?

bigadaj

You should get interest pro rata for the time you are invested, this assumes that there aren't any penalties or loss of interest specific to this account.

BugsyBrowne

bigadaj wrote: »

You should get interest pro rata for the time you are invested, this assumes that there aren't any penalties or loss of interest specific to this account.

Ignore this fool.

innovate

BugsyBrowne wrote: »

Ignore this fool.

??????

Are you well?

Macca83_2

innovate wrote: »

??????

Are you well?

I think he means rufus?

bigadaj

BugsyBrowne wrote: »

Ignore this fool.

No he means me as I have pointed out some errors in some of his other posts, whilst being fully and justifiably judgemental on some of bugsys traits.

Bugsy has many failings but lack of entertainment isn't one of them.

rufus86

bigadaj wrote: »

You should get interest pro rata for the time you are invested, this assumes that there aren't any penalties or loss of interest specific to this account.

Thanks for that...should hopefully mean a few extra notes in April when I ditch the old ISA and transfer

thenudeone

bigadaj wrote: »

You should get interest pro rata for the time you are invested, this assumes that there aren't any penalties or loss of interest specific to this account.

/\ /\ /\ perfectly valid response as far as I can see