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Internal Shawbrook ISA transfer

I currently have an Easy Access Cash ISA with Shawbrook which I would like to transfer to their 1 year fixed rate ISA. However, the KPI document states:

"Transfers in from other Shawbrook Cash ISAs are permitted subject to the account
being open for new funding."

Can anybody expand on what this means please? I don't intend to pay any new money into it this year as I have already paid into an ISA with another provider, but I suspect I won't be able to do this transfer.

(Ironically, it seems that this fixed rate ISA became available only 2 days after my previous fixed rate ISA with them matured and at that time the easy access rate was actually higher than the fixed rate on offer. This was late December.)

Comments

  • eskbanker
    eskbanker Posts: 40,754 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Wording like that would normally reflect the fact that there's an initial funding window for fixed term accounts, i.e. whenever it's permissible to add new money you can also transfer in, but Shawbrook is an outlier in that you can continue to fund these accounts throughout their term, so that transfer stipulation is moot.
  • Just following this up with the response from Shawbrook - they will do the transfer for me on request. I don't need to fill in an application form or anything. I just needed to confirm how much I wanted to transfer and the particular fixed rate I wanted to transfer to.
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