Old ISA - OK to just withdraw it?

Cactus_Jack

Hi, I have around 2k in an old ISA account, my first I ever opened back in around 2000 actually.

Its been closed to new deposits for some time by the BS, and is only getting around 0.50%.

I was going to transfer it to my Virgin Money ISA for this current year but never got around to sending the forms, is it realistically too late for this to happen now if I sent it today?

Is there anything to lose if I just withdraw this money since it isn't a great amount or getting a great rate?

Thanks

anoncol

If you get Virgin to transfer it i believe it wont count as this years ISA deposits.

badger09

You can transfer it any time.

Just ask your new provider to do the transfer for you. That will protect the tax free status and you could add new savings of up to £5760 from 6th April.

If you withdraw the money and pay it into a new ISA, you'll only be able to add new savings of up to £3760.

gkerr4

as above - no time limit for this - it's already under the ISA umbrella. transfer it at your leisure to wherever you choose to have your new ISA.

don't withdraw it .