Fixed Isa Cancellation within 14 day

Aidanmc

I recently made a Isa transfer to a  Barclays Fixed ISA. The transfer was a full balance transfer.

If i cancel the ISA within 14 day cancellation period where would the funds be returned to if the initial ISA was closed?

dunstonh

If i cancel the ISA within 14 day cancellation period where would the funds be returned to if the initial ISA was closed?

A cancelled transfer will usually see them return the iSA money to the originating scheme.  If they refuse it (which is often the case) then you will need to give an alternative quickly.  Otherwise they will return the money to you and you could lose the ISA status.

masonic

You've not specified the account you've opened, but terms on the 2-year "flexible" fixed cash ISA suggest the transfer out charge is waived within the 14-day cancellation period, so if you could identify a provider who will act quickly enough, you could simply transfer out to another ISA. This does depend how much of this cancellation period is left. If you notify Barclays of your intention, they may allow a further grace period for the transfer request to be received.

Aidanmc

Thanks, it was the 1 year flexible fixed cash Isa. The cancellation period would end this Friday. Will call them tomorrow though