Shawbrook Bank ISA Maturity

BryterLater

I'm hoping someone can help with the questions below.

1) I have a one year ISA fix with Shawbrook ending on 19th October. Does anyone know when I'm likely to receive my options for maturity? I would like to fix for another year at their current rate of 5.83%

2) I also have a current year easy access ISA with Shawbrook, paying less than 4%. Will it be possible to combine this with my matured ISA above and move them both to the one year fix, or because I've paid into this account this year, is that not possible?

I've tried sending Shawbrook a secure message but I'm yet to have a response.

Thanks in advance

cloud_dog

If you log in to the account you should have the option for maturity instructions.

If you want to roll the existing FR in to another that is possible via the maturity instructions.  Additionally you can message them and simply ask them to transfer your easy access cash ISA i to the new FR ISA, if you wish.

BryterLater

Thank you. Yes, I've logged in and still don't have the option for maturity instructions and have messaged and have yet to have a response

Thanks for clarifying re combining both ISA's too

refluxer

If you haven't been given your maturity options yet then you're probably going to have to look elsewhere for a good rate unfortunately, as they dropped all their fixed ISA rates yesterday. The 1 year option now sits at 5.40%. 

By contrast, Issue 25 of their Easy Access Cash ISA has increased to 4.81% AER, which makes it the highest-paying easy access account (without withdrawal restrictions) currently available so it's definitely worth asking them to upgrade your older issue to the latest issue. There is a specific option within their secure message system for upgrading accounts that works for the non-ISA easy access account, so this may also work for the ISA too. 

refluxer

BryterLater said:

2) I also have a current year easy access ISA with Shawbrook, paying less than 4%. Will it be possible to combine this with my matured ISA above and move them both to the one year fix, or because I've paid into this account this year, is that not possible?

If you open a new cash ISA that allows transfers in, then it's usually possible to transfer in more than one - there's normally a limited time to do this though. The summary box/T&Cs of any ISA you're interested in should hopefully tell you the score.

Just be aware that you're only able to pay new subscriptions from the current tax year into one cash ISA at any one time so, if you've paid into your easy access ISA since 6th April this year and transfer this ISA into a new cash ISA, then the new ISA will be the only available home for future contributions until the end of this tax year. 

If the new ISA was to be an easy access ISA then there would be no problem with continuing to pay into it but if this was a fixed rate ISA then there would normally be a limited funding window in which you could do this, meaning that anything remaining from your 2023-24 ISA allowance after this time would be lost. IIRC though, Shawbrook are one of the few providers who do allow contributions throughout the duration of the fixed rate period.