Transferring matured ISA's 23 January 2019 at 11:25PM edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings 4 replies 543 views

sticks003

Hi - question on "old" i.e. matured cash ISA's please.
I have a number from the last 6 or 7 years or so that matured and were transferred - by default I guess as I didn't provide any other instruction at the time - by the bank / institute concerned to various types of accounts - generally some kind of low interest earning savings account. Are these still eligible to be transferred into ano cash ISA now ? or is it too late as they have matured and gone into these other accounts. Couldn't see any answer to this in the articels or existing threads - but apologies in advance if i've missed something ?
Any help appreciated! thankyou!

xylophone

ISA accounts would surely have matured into default ISA accounts ( very often the most basic easy access ISA account), rather than into non-ISA accounts?

Can you see the accounts on line?

If not, presumably you receive a statement of interest each year - how are the accounts described?

Reed_Richards

Almost certainly yes. A matured cash ISA is always (AFAIK) transferred into another cash ISA, albeit frequently one paying very little interest.

sticks003

hi xylophone - thanks for the reply - just looked at a couple and in these 2 at least - yes - think you are correct - I have a letter (leeds building soc & Kent Reliance) that does indeed say they have gone to Loyalty ISA account (paying lower interest of course). I will check through paperwork for the others - but I suspect you are correct.

In which case I assume perfectly legible for transfer into ano ISA.

Thankyou v much!!

xylophone

perfectly legible

Easy to read?:)

But yes, the accounts are eligible for transfer to another ISA account.

Rates here - check that provider of your choice will accept a transfer in.

Remember that you must ask the new provider to organise the transfer.

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