Transfer of an Isa at the end of a fixed rate term

susanann_2

I am thinking about opening the Barclays Fixed Rate Isa 4%. When this account matures in 12 months time do you have to wait till it’s matured and then sitting earning 0.60% before you can ask another provider to arrange a transfer out or can the new provider request the transfer be done on a set date to avoid withdrawal early and then paying a penalty for early withdrawal. I’ve not done a fixed rate before so am unsure what you can do at the end of the term. 

Malchester

If you open the ISA you wish to transfer to you can, at the same time, request them to transfer an existing ISA to them. The transfer form usually asks whether you want the transfer to take place immediately or when the notice period is up. Some even let you name the date on which the notice period is up. You just have to be careful if you open an ISA to transfer to that you don't do it too soon as, if it is a fixed rate ISA they usually have a funding period. If it is an easy access ISA there is usally a time period when you have to have funded the account.

GrubbyGirl_2

Yes you can transfer now and pay the penalty.  It will be worth it 

eskbanker

GrubbyGirl_2 said:

Yes you can transfer now and pay the penalty.  It will be worth it 

OP can't do that as she hasn't even opened the account yet and is simply planning for what happens in a year's time....