This years ISA mistake

plandshoft

My Fianc! has an ISA which she has had with the same provider for a number of years with very little in it. Recently we came into some money due to a bereavement and as we are saving for a wedding she put £15000 into it. Unfortunately it pays a paltry 0.05% interest and as there are better rates out there I thought I'd ask forum members a couple of questions.
Am I right in thinking that the limit for an ISA is £20000 in this tax year? and, if so, could she open another ISA with either another provider that pays better interest or the same provider with a better scheme and transfer the £15000 into it? or could she close that one withdrawing all the money and open a new one?
Many thanks for any advice

Vortigern

Yes, the new ISA limit is £20000, but that applies to new money going into ISAs, not to transfers.

Yes, she can transfer to a better ISA.

Before making any hurried decision, consider whether either, or both, of you would benefit from a help to buy ISA or a LISA.

AnotherJoe

Why ISAs when the rates are better in numerous savings and current accounts?
And, as said, why not HTB ISAs? Also cash LISAs coming soon.

alanq

How recently was the £15000 deposited? Before 6th April or not?