Closing cash ISA to move to savings

bazak

Hi all,
If i want to close my cash ISA and move all my cash to a savings account (or several, for better interest), do i simply withdraw the cash and then just deposit into the savings account or do i have to transfer it from one to the other.
Thanks for any advice and help given.

xylophone

If you really want to close the ISA. can you not just instruct closure to your current account?

You can then transfer cash from current to your new savings accounts.

Beddie

bazak said:

Hi all,
If i want to close my cash ISA and move all my cash to a savings account (or several, for better interest), do i simply withdraw the cash and then just deposit into the savings account or do i have to transfer it from one to the other.
Thanks for any advice and help given.

Yes, that is exactly what you do!

However, there are some good ISA rates that you could transfer into, if you want to keep the tax-free status. Only you can decide what suits you more.

https://moneyfacts.co.uk/isa/instant-access-cash-isas/?quick-links-first=false

derwentarms

I want to transfer money in savings account to a higher interest cash isa. I already have a cash isa with low interest rate with no money in.  How is this done?

eskbanker

derwentarms said:

I want to transfer money in savings account to a higher interest cash isa. I already have a cash isa with low interest rate with no money in.  How is this done?

If you haven't paid into the existing ISA during this tax year then you're free to pay into a new one.

If you need any further discussion then best to start your own thread, as it's not really the done thing to post questions on someone else's thread about a different topic....

Edit: advice pre-emptively followed!

https://forums.moneysavingexpert.com/discussion/6420314/cash-isa