ISA confusion

xylophone

http://www.thisismoney.co.uk/money/saving/article-1583864/Best-savings-rates-Isas-Cash-Isa-accounts-fixed-rate-Isas.html

AlwaysLearnin

hotyogabunny wrote: »

So if I have this year's ISA full with new money what can I do with last year's ISA which is now down to some sort of miserable rate? This thread has been very helpful thanks!

Your current provider may offer a better rate that they can move you over too. Alternatively, find the ISA with the best rate (and most suited to your needs) that allows transfers in, and transfer over.

Don't withdraw the money and redeposit though, as that would take it out of the ISA wrapper and then count as new money. You need to get the new ISA provider to request the transfer from the previous provider.

The sticky threads on the ISA board may help further.

jimjames

Mrs_Rachel_Trelfa wrote: »

Thanks dunstonh. I am just looking at the cash element as I unfortunately do not have a spare £11k lol.

You don't need £11k to use a S&S ISA, you can start one with as little as £50 per month.

All depends what other savings you have and when you need the money.