Switch service - what happens to isa?

ciaomagre

I have a Halifax current account along with a Halifax help to buy isa. I want to switch everything to HSBC, mostly for the switch bonus. I can't seem to get a straight answer from HSBC.

Presumably if I open hsbc and use the official switch service, it will close my Halifax current account but leave my help to buy isa un touched? So then I can just transfer the isa it to HSBC later using the transfer form with HSBC? Or does the switch service close everything including isa with Halifax so should I open HSBC account first, fill in isa transfer form, wait for it to transfer, and then do the switch?

If it does the former and the switch service leaves my isa untouched, then how would I then access my isa with Halifax? When I've done switching before I lose online banking access so I don't know how I would then access or manage it.

I'm probably overthinking this, am just paranoid about the isa and the switching process...

Robin9

Nothing happens to your ISA - it stays with the provider . You transfer in accordance with the conditions as and when you see fit.

I don't bank with Halifax any longer but I still have some savings accounts /CC with them and full online access.

newatc

I have never used the switching process but I can't believe it will move your ISA. If the switching process does remove your online access (it shouldn't) then re-register to manage your ISA.

ciaomagre

Ah thanks both, was just overthinking it.

badger09

You don't have to transfer your HTB ISA to HSBC unless you want to. Its the same rate as Halifax.

agrinnall

It's a Current Account Switch Service, an Individual Savings Account by definition is not a current account so it won't move. The only time you might have a problem with a savings account is if it is a regular saver and has to be fed from a specific current account with the same provider (for example, the FD Regular Saver and the 1st Account), but I'm doubtful if there are many ISAs that work in this way.