closing a Flexible Barclays ISA

[Deleted User]

I have quite a few years worth of ISAs in the Barclays Flexible ISA which I opened in April this year at 4%, which was a fabulous rate at the time. Now of course, ISA rates have gone up. The terms of the flexible ISA states I can withdraw three times in the year without penalty, but to transfer money or close the account, I lose 90 days of interest  - fair enough. However, is there a way around being able to withdraw most of the money using my 'three withdraw penalty free?' I think there probably isn't but wanted to ask. Also, I know Martin has often said that the interest of the higher rate ISA (if transferred) may be more than the 90 days loss of interest (from my Barclays ISA), but I'm not sure how to calculate this. Any advice gratefully received thank you.

Catplan

Put the figures in here https://www.moneysavingexpert.com/savings/isa-switch-calc/

withdrawing will remove the money from ISA wrapper so unless you want to put into a non ISA account then not sure this helps you.

Stargunner

bexoxo60 said:

I have quite a few years worth of ISAs in the Barclays Flexible ISA which I opened in April this year at 4%, which was a fabulous rate at the time. Now of course, ISA rates have gone up. The terms of the flexible ISA states I can withdraw three times in the year without penalty, but to transfer money or close the account, I lose 90 days of interest  - fair enough. However, is there a way around being able to withdraw most of the money using my 'three withdraw penalty free?' I think there probably isn't but wanted to ask. Also, I know Martin has often said that the interest of the higher rate ISA (if transferred) may be more than the 90 days loss of interest (from my Barclays ISA), but I'm not sure how to calculate this. Any advice gratefully received thank you.

You can only withdraw up to 10% of your balance at the time of withdrawal for each of the 3 occasions, 

This calculator is what you need.

https://www.moneysavingexpert.com/savings/isa-switch-calc/