ISA transfer - timescales

Bark01

Hi,

I'm taking the plunge and transferring my Natwest cash ISA into a H&L S&S ISA. How long does the transfer normally take?

I get paid interest monthly on my Cash ISA and its paidon the last working day of the month. I would like to time the transfer to so that the money leaves my Cash ISA after the 30th April.

I've found an older post suggesting its 30 days to release the money and then 30 days to receive and then a newer post suggesting the whole thing should be turned around in 15 days.

thanks

david78

A couple of weeks. A few days knowing HL who are good at chasing.

I think transfers are much quicker now then they used to be.

You don't need to time the transfer too precisely; you won't lose interest if the transfer goes across in the middle of the month. All "owed" interest is added on the day of the transfer.

Bark01

david78 wrote: »

All "owed" interest is added on the day of the transfer.

Well, in that case I'll send my form today!

sparky0138

david78 wrote: »

All "owed" interest is added on the day of the transfer.

Sorry for jumping in! Does that also apply to accounts where the interest is paid annually? Martin said in last night's programme that you can transfer old ISA's as many times as you want but I assumed that interest paid annually would mean that you have to keep the money in for at least a year so you don't lose out. Is that right?

rb10

sparky0138 wrote: »

Sorry for jumping in! Does that also apply to accounts where the interest is paid annually? Martin said in last night's programme that you can transfer old ISA's as many times as you want but I assumed that interest paid annually would mean that you have to keep the money in for at least a year so you don't lose out. Is that right?

Unless the T&Cs specifically state otherwise (very rare), then you will always get interest paid right up to the date of closure.

This applies to ISAs and non-ISAs, paid monthly or annually.