Withdrawing this years allowance from a flexi cash ISA to place in a FTB ISA?

soulsaver Forumite Posts: 5,503
Part of the Furniture 1,000 Posts Name Dropper
edited 10 August at 3:13PM in ISAs & tax-free savings
Theoretical ATM as in the current climate I don't consider 0.5% enough incentive to lock away for a year... but maybe useful to be aware of options: 

I've got  this tax year's £20k allowance (plus accrued interest) in YBS 6 access flexi isa at 5.2% variable.

I think if I w/d or transfer I have to keep all 23/24 funds together - so partial not allowed?

If I decided to, could I w/d (ie not transfer) all the 23/24 funds (via an unwrapped account) to put it in, say, Shawbrook's c5.70% 1 year fixed ISA - thus not intending to repatriate to YBS's ISA?

I know cash isa-to-cash isa should take only 7 days max so likely not a biggy... but like to be aware of legit options.


  • Doctor_Who
    Doctor_Who Forumite Posts: 832
    Part of the Furniture 500 Posts Name Dropper Photogenic
    If you withdraw money from a flexible ISA it can be returned to the same flexible ISA in the same tax year. If you want to move the ISA money from YBS to Shawbrook then you would need to transfer it in full as it's the current year's subscription.
    'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.
  • eskbanker
    eskbanker Forumite Posts: 27,396
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    soulsaver said:
    I know cash isa-to-cash isa should take only 7 days max
    Not so, the maximum is three weeks (15 working days):

    Deadlines and complaints

    ISA transfers should take no longer than:

    • 15 working days for transfers between cash ISAs
    • 30 calendar days for other types of transfer
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