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Cash ISA
vinny80
Posts: 1 Newbie
I would like to find out if I open a Cash ISA (not fixed) with interest paid annually. What happens if the interest drops and then I want to transfer to another Cash ISA with higher rates, what happens to the interest if you close the account mid way as interest is paid annually? Do they pay you the interest when you close it or wait till end of the period and then pay you the interest? Thanks!
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Comments
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If you close the account then the accrued interest will be added to the transferred balance, but if you leave it empty but open then the interest payment will be according to the original schedule.0
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