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Scarborough ISA transfer
WeatherMan
Posts: 35 Forumite
Hi Folks,
I have a rather old Scarborough MiniCash ISA from 3 or 4 years ago, which is receiving a pityful interest rate. I am in the process of deciding to transfer the ISA to another provider.
I have analysed the Scarborough website and it seems that this is well possible (within 30 days) however it doesn't mention what will happen to the interest for the fraction of this year so far (paid yearly, so a few months so far). Does anyone know what would happen? I don't want to lose the interest when i transfer (even if the rate is low).
WeatherMan
I have a rather old Scarborough MiniCash ISA from 3 or 4 years ago, which is receiving a pityful interest rate. I am in the process of deciding to transfer the ISA to another provider.
I have analysed the Scarborough website and it seems that this is well possible (within 30 days) however it doesn't mention what will happen to the interest for the fraction of this year so far (paid yearly, so a few months so far). Does anyone know what would happen? I don't want to lose the interest when i transfer (even if the rate is low).
WeatherMan
0
Comments
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You won't lose out.All savings accounts ,even if they incur penalties for withdrawing,make up the interest to date when the account is closed,prior to transfer.0
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