Transfer ISA to Zopa from HSBC

refluxer

Ammah45 said:

I was wondering though how the interest will be calculated and whether there will be any? Will HSBC add the interest upto the day of transfer and include it in the transfer amount?

If you've requested a transfer of the full balance, then the interest due will be added to the balance on the day of the transfer and the whole lot will be transferred.

Ammah45

refluxer said:

Ammah45 said:

I was wondering though how the interest will be calculated and whether there will be any? Will HSBC add the interest upto the day of transfer and include it in the transfer amount?

If you've requested a transfer of the full balance, then the interest due will be added to the balance on the day of the transfer and the whole lot will be transferred.

Thank you.

GrubbyGirl_2

Just as an update I transferred my Shawbook ISA to them last week.  Shawbrook confirmed they accepted the request on 28th and it was in my Zopa Account on 2nd.  Not bad as there was only 1 working day between those dates.  Just be aware it doesn't go straight into your fixed account it goes into a "transfer in" account which is paying 5.08%, you have to transfer it to your fixed account yourself which I did within 10 mins of getting the email telling me they had received the money

Ammah45

GrubbyGirl_2 said:

Just as an update I transferred my Shawbook ISA to them last week.  Shawbrook confirmed they accepted the request on 28th and it was in my Zopa Account on 2nd.  Not bad as there was only 1 working day between those dates.  Just be aware it doesn't go straight into your fixed account it goes into a "transfer in" account which is paying 5.08%, you have to transfer it to your fixed account yourself which I did within 10 mins of getting the email telling me they had received the money

Thanks. That sounds different to what I did. I opened an ISA account with Zopa by using the "manage" tab on the top right of the app. I then entered my HSBC ISA account number to have the lot transferred over. So I am expecting it to go into the Zopa ISA account directly which is 5.08%. It's a flexible cash ISA account rather than fixed.