Can I close an ISA just opened without fee?

IKBOL

I opened an ISA with Hargreaves this Mon. specifically to invest in a particular share. I couldn't get into my account because the system amalgamated my new ISA with an ancient acct. I had with Hargreaves over 10-30 years ago. Had to wait for a letter with new pin from them wh. arrived tonight. In meantime share has nearly doubled. So ISA is pointless (I have others elsewhere) . Can I just close and withdraw cash without fee? Like you can cancel various financial products within 14 days? Thx for any help

eskbanker

IKBOL said:

Can I just close and withdraw cash without fee?

Yes, as per https://www.hl.co.uk/investment-services/isa/savings-interest-rates-and-charges

Cash withdrawals	No charge
Account closure fee	No charge

IKBOL said:

ISA is pointless (I have others elsewhere)

Bear in mind that by paying money into this account, you can't pay into any other S&S ISA during this tax year....

IKBOL

Thanks eskbanker for such a helpful reply. The 2nd part I knew - no other ISA till April. - but good of you to point out. And HL rules are the really valuable part for me. Thx again. 

masonic

IKBOL said:

Like you can cancel various financial products within 14 days?

If you cancel in the cooling off period, then you would be free to open and invest in another S&S ISA within the remainder of the tax year.