Virgin Fixed Rate Cash ISA Maturing - Options

Audaxer

I have a Virgin Cash ISA maturing and I wanted to put the proceeds into their Defined Access Cash E-ISA at 5.06% interest, but unfortunately that is not one of the options available. The only Easy Access Cash E-ISA option available for the matured funds is one at 3% interest. If I have to take this option, will I then be able to open the Defined Access Cash E-ISA at 5.06%, and immediately transfer the funds from the 3% Easy Access ISA into the Defined Access ISA? 

Just to confirm that I have already used up this tax year's ISA allowance, so I can't put any new money into the ISA.

tony_1

You do not have to use their options

You can transfer it at maturity to the Defined Access Cash E-ISA at 5.06% open it and use the transfer section of your application.

Or any other other Isa which accepts transfers in .

I rang and found out actual amount that would be there on the day after maturity and split it and transferred mine into two new Isa which allowed transfers in.

Audaxer

tony_1 said:

You do not have to use their options

You can transfer it at maturity to the Defined Access Cash E-ISA at 5.06% open it and use the transfer section of your application.

Or any other other Isa which accepts transfers in .

I rang and found out actual amount that would be there on the day after maturity and split it and transferred mine into two new Isa which allowed transfers in.

Thanks Tony. If I don't take any option it will go into an E-Cash ISA at only 0.25% interest, which I was trying to avoid in case I decide to transfer it to another provider which could maybe take a couple of weeks. However if I am able to open the Virgin 5.06% ISA and transfer the funds immediately that shouldn't be a problem. I was just concerned I somehow wouldn't be able to do that as it wasn't a maturity option.