Cash ISA maturing - new ISA, or not?

GrubbyGirl_2

VXman said:

GrubbyGirl_2 said:

Leeds cash ISA at 5% is better than Marcus cash ISA at 4.75% so why move it?

That was never the question. He needs to move it as it is maturing and will end up in a Leeds (standard saver)  ISA at 2.45%

It absolutely was the question.  If you go back and read the original post he said he had the option to transfer into a Leeds Cash ISA c5%.  Only if he didn't do anything would it go into the Leeds saver ISA at 2.45%!

CCopeland

watched your programme and some advice was given on providers which gave a good return. I have inherited some cash so want to secure a tax free income help please

badger09

Welcome to the forum. I assume you’re addressing your post to Martin Lewis. He doesn’t answer individual questions on here but plenty of people can help. 

Can I suggest you start a new thread of your own rather than tag onto someone else’s. Also give a bit more detail. As a start, take a look at the thread ‘Cash ISAs. The Best Currently Available List’ a bit further down the page. 

boingy

jimjames said:

Aylesbury_Duck said:

frugalmacdugal said:

Hi,

on maturity you can transfer to new Leeds ISA or a new provider, you must initiate transfer through the new provider and they do the legwork.

Marcus do not allow transfers in.

Thanks.  My intention is for it to sit in a Leeds product until April, I'll then review.  Just need to understand if moving to a new Leeds product on maturity counts as a new ISA or not.

Why wait till April? You can get 5% + on the ISA with instant access or another fixed rate near 6%

This ^^^

You are free to transfer it into any cash ISA that allows inward transfer, which is most of them. No need to wait until April. It doesn't affect your annual ISA allowance or break the ISA rules as long as you don't add new money to it.