Cash ISA Transfer for in-laws

plumcloth

Had some good responses on my previous question, so here's a follow-up ...
My Mother-in-law has a Barclays Instant Cash ISA, into which she deposits monthly payments.
The interest rate on this ISA is not spectacular, so can she transfer it within Barclays to their 1-year fixed Cash ISA, then continue to pay into it ?? Thanks.

masonic

Not unless Barclays allows continued deposits into the fixed ISA you mention. Most fixes only allow incoming payments for a short period of time (e.g. 2-4 weeks) after the account is opened.

xylophone

But even if not a fixed rate she could consider a transfer.

plumcloth

xylophone said:

But even if not a fixed rate she could consider a transfer.

Thanks for your reply - looks like deposits are allowed throughout the year ...
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Deposits up to the annual ISA subscription limit* each tax year may be made throughout the term of the Flexible Cash ISA. *Annual ISA subscription limit for the tax year 2023/2024 (6 April 2023 to 5 April 2024) is £20,000.
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(From  https://www.barclays.co.uk/content/dam/documents/personal/savings/1_year_flexible_cash_isa_issue_49.pdf)

refluxer

Yes, you can pay into a Barclays Flexible Cash ISA throughout the duration of the term, which is unusual for a fixed rate ISA.

Just be aware that access obviously won't be unlimited like the Instant Cash ISA presumably is. Instead, you're limited to 3 withdrawals of up to 10% of the balance each time.