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isa transfers and further deposits

I have an accessible cash isa, which has a flexible (lower) rate. I regularly put in what I can afford, but due to current rates beginning to stall, I am looking around for a fixed rate. Can somebody please advise me, can I transfer my current years investment of cash isa funds into a new fixed term isa, and continue to invest in my original isa?

Comments

  • masonic
    masonic Posts: 27,903 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 8 October 2023 at 5:57PM
    If you transfer your current year money to a new cash ISA, then you can only continue to contribute to the new cash ISA. In the case of a fix, the time period in which you can make additional deposits is likely to be limited. If your provider happens to be one that permits a split-ISA ( https://www.moneysavingexpert.com/savings/best-cash-isa/#accordion-content-620297425-5 ), you may be able to contribute to a separate easy access ISA from that same provider.
  • Doctor_Who
    Doctor_Who Posts: 917 Forumite
    Part of the Furniture 500 Posts Name Dropper Photogenic
    I have an accessible cash isa, which has a flexible (lower) rate. I regularly put in what I can afford, but due to current rates beginning to stall, I am looking around for a fixed rate. Can somebody please advise me, can I transfer my current years investment of cash isa funds into a new fixed term isa, and continue to invest in my original isa?
    All of your current year cash ISA subscription has to stay together in the same cash ISA. Split/portfolio cash ISA providers (Zopa Smart ISA, Paragon ISA Wallet, Nationwide Portfolio ISA to name a few) would allow a mix of fixed and easy access cash ISAs for 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.
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